Market Snapshot:
An electric guitar is a type of guitar that uses pickups to translate the vibration of its strings into electrical pulses, which is then made louder by an amplifier and a speaker. The signal that comes from the guitar may also be electronically modified with effects like reverb or distortion. The increasing disposable income and growing interest of people in music are the key factors for the growth of the electric guitar market
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Epiphone (United States), Fender (United States), Gibson (United States), Karl Höfner (Germany), Dean Guitars (United States), Ibanez (Japan), Cort Guitars (South Korea), ESP Guitars (United States), Taylor Guitars (United States) and B.C. Rich (United States) |
Segment Analysis
AMA Research have segmented the market of Global Electric Guitar market by Type, Application and Region. On the basis of Type, Solid Body are dominating the market in the year 2023 where as Semi-Hollow Body stood as second largest market share.
On the basis of application, Professional Performance segment is dominating the market in the year 2023 where as Learning and Training segment stood as second largest market.
On the basis of geography, the market of Electric Guitar has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Introduction of New Stylish Products
Market Drivers
Increasing Disposable Income and Growing Interest of People in Music and Increasing Number of Musical Bands across the Globe
Opportunities
Continued Increasing Number of Rock Music
Restraints
- Lack of Highly Skilled and Trained Labor
- Availability of Substitute
In addition to the aforementioned factor, Increasing Disposable Income and Growing Interest of People in Music
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
On Dec 4, 2018, Fender Musical Instruments Corporation (FMIC) today announced the release of its American Performer Series, a brand new electric guitar line and gateway into Fender’s Corona, Calif.-made electric guitar offerings
The key Vendors profiled in the study are Epiphone (United States), Fender (United States), Gibson (United States), Karl Höfner (Germany), Dean Guitars (United States), Ibanez (Japan), Cort Guitars (South Korea), ESP Guitars (United States), Taylor Guitars (United States) and B.C. Rich (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.