Middle East & Africa Electric Guitars Market Size & Outlook
Middle East & Africa electric guitars market, 2017-2030 (US$M)
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MEA electric guitars market highlights
- The MEA electric guitars market generated a revenue of USD 150.4 million in 2022.
- The market is expected to grow at a CAGR of 4.9% from 2023 to 2030.
- In terms of segment, solid body was the largest revenue generating product in 2022.
- Semi-Hollow Body is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2022 | USD 150.4 million |
| Market revenue in 2030 | USD 220.5 million |
| Growth rate | 4.9% (CAGR from 2022 to 2030) |
| Largest segment | Solid body |
| Fastest growing segment | Semi-Hollow Body |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solid Body, Semi-Hollow Body, Hollow Body, Accessories |
| Key market players worldwide | KKR & Co Inc Ordinary Shares, Yamaha Corp, Fender, Boosey & Hawkes, Ibanez, The ESP Guitar Company, CORTEK |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.3% of the global electric guitars market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,162.4 million by 2030.
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Electric Guitars Market Scope
Electric Guitars Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa electric guitars market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric guitars market will help companies and investors design strategic landscapes.
Solid body was the largest segment with a revenue share of 74.2% in 2022. Horizon Databook has segmented the Middle East & Africa electric guitars market based on solid body, semi-hollow body, hollow body, accessories covering the revenue growth of each sub-segment from 2017 to 2030.
Many countries across the African continent have been undergoing rapid economic expansions and are characterized by a young population who tend to spend more on leisure activities. This has led to a rise in the demand for musical instruments, especially electric guitars.
In contrast to the consumer dynamics of Africa, the Middle East is characterized by high consumer spending on luxury amenities and a young population burgeoning at a rapid rate. Governments’ willingness to diversify their economies has led to a huge impetus for commercial music schools and colleges.
For instance, the Berklee College of Music opened in Dubai, UAE in February 2020. Such favorable scenarios bode well for the growth of the electric guitar market in the region.
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Target buyers of Middle East & Africa electric guitars market databook
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Our clientele includes a mix of electric guitars market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa electric guitars market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa electric guitars market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa electric guitars market
Middle East & Africa Electric Guitars Market Outlook Share, 2022 & 2030 (US$M)
Middle East & Africa electric guitars market
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