Global Musical Instrument Market Size & Outlook, 2023-2030
Global musical instrument market, 2018-2030 (US$M)
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Global musical instrument market highlights
- The global musical instrument market generated a revenue of USD 15,227.3 million in 2023 and is expected to reach USD 25,126.3 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 7.4% by 2030.
- In terms of segment, stringed instruments accounted for a revenue of USD 9,689.8 million in 2023.
- Stringed Instruments is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 15,227.3 million |
| Market revenue in 2030 | USD 25,126.3 million |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | Stringed instruments |
| Fastest growing segment | Stringed Instruments |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Stringed Instruments, Percussion Instruments, Wind Instruments, Key Board Instruments |
Other key industry trends
- In terms of revenue, the North America accounted for 27.4% of the global musical instrument market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 5,446.0 million by 2030.
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Musical Instrument Market Scope
Musical Instrument Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global musical instrument 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 musical instrument market will help companies and investors design strategic landscapes.
Stringed instruments was the largest segment with a revenue share of 63.63% in 2023. Horizon Databook has segmented the Global musical instrument market based on stringed instruments, percussion instruments, wind instruments, key board instruments covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Musical Instrument Type Outlook (Revenue, USD Million, 2018-2030)
- Stringed Instruments
- Guitar
- Violin
- Cello
- Others
- Percussion Instruments
- Drum Set
- Tabla
- Cajon
- Others
- Wind Instruments
- Saxophone
- Flute
- Harmonica
- Others
- Key Board Instruments
- Piano
- Accordion
- Key board
- Others
- Others
- Stringed Instruments
- Global Musical Instrument Distribution Channel Outlook (Revenue, USD Million, 2018-2030)
- Online
- Offline
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Horizon Databook provides a detailed overview of global-level data and insights on the Global musical instrument market , including forecasts for subscribers. This global databook contains high-level insights into Global musical instrument market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global musical instrument market size, by regions, 2018-2030 (US$M)
Top 10 countries: Musical instrument market size, 2023 (US$M)
Global musical instrument market share, by type, 2023 & 2030 (%, US$M)
Musical instrument market: Opportunity assessment by country
Global musical instrument market, by region, 2023 (US$M)
| Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 3,634.7 | 3,854.3 | 3,472.8 | 3,687.3 | 3,922.9 | 4,177.1 | 4,448.1 | 4,740.0 | 5,053.5 | 5,390.0 | 5,752.2 | 6,141.5 | 6,560.5 | 6.7% |
| Europe | 3,006.5 | 3,211.2 | 2,914.0 | 3,116.7 | 3,339.9 | 3,582.8 | 3,843.5 | 4,126.2 | 4,432.0 | 4,762.9 | 5,121.3 | 5,510.1 | 5,931.4 | 7.5% |
| Asia Pacific | 5,230.1 | 5,610.7 | 5,114.1 | 5,493.4 | 5,912.5 | 6,369.5 | 6,862.9 | 7,398.7 | 7,981.2 | 8,613.8 | 9,301.1 | 10,048.7 | 10,862.2 | 7.9% |
| Latin America | 669.7 | 712.8 | 645.1 | 687.5 | 734.8 | 785.6 | 840.1 | 899.1 | 962.5 | 1,031.5 | 1,105.5 | 1,185.5 | 1,272.0 | 7.1% |
| MEA | 268.2 | 284.8 | 257.4 | 274.1 | 292.4 | 312.3 | 333.2 | 356.1 | 380.7 | 407.3 | 435.8 | 466.5 | 500.2 | 7.0% |
| Overall | 12,809.2 | 13,673.8 | 12,403.4 | 13,259.0 | 14,202.5 | 15,227.3 | 16,327.8 | 17,520.1 | 18,809.9 | 20,205.5 | 21,715.9 | 23,352.3 | 25,126.3 | 7.4% |
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