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Acoustic Pianos & Stringed Keyboard Instruments - Gabon

Gabon
  • The revenue generated in the Acoustic Pianos & Stringed Keyboard Instruments market in Gabon amounts to US$1.2m in 2024.
  • This market segment is projected to experience an annual growth rate of 7.60% (CAGR 2024-2029).
  • In comparison to other countries, China generates the highest revenue in this market, with US$524.7m in 2024.
  • Considering the total population, the per person revenue in Gabon is US$0.47 in 2024.
  • Despite its rich musical heritage, Gabon has seen a decline in the demand for acoustic pianos and stringed keyboard instruments due to the rising popularity of electronic alternatives.

Definition:

Acoustic pianos and stringed keyboard instruments are musical instruments that produce sound by striking or plucking strings using a keyboard. Examples of acoustic pianos include grand pianos, baby grand pianos, and upright pianos. Examples of stringed keyboard instruments include harpsichords, clavichords, and spinets. These instruments are commonly used in classical music and have been popular for centuries. Modern versions of these instruments include electric pianos, which use electronic amplification to enhance their sound and allow for greater portability.

Additional Information:

The market for acoustic pianos and stringed keyboard instruments comprises revenue and average revenue per capita. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies such as Yamaha, Kawai, Steinway & Sons, and Casio. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • Acoustic pianos, such as upright pianos and grand pianos
  • Stringed keyboard instruments, such as harpsichords, spinets and clavichords

Out-Of-Scope

  • Digital pianos and electronic keyboards, such as stage pianos, home digital pianos, arranger keyboards, workstation keyboards
  • Accessories of musical instruments, such as piano benches and stools
  • Toy musical instruments, such as mini keyboards

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Jul 2024

Source: Statista Market Insights

Most recent update: Jul 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Jul 2024

Source: Statista Market Insights

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

Key Market Indicators

Notes: Based on IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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