Musical Instruments - EMEA

EMEA

Revenue in the Musical Instruments market amounts to US$12bn in 2024. The market is expected to grow annually by 7.83% (CAGR 2024-2028).
In global comparison, most revenue is generated in China (US$10,120m in 2024).
In relation to total population figures, per person revenues of US$4.87 are generated in 2024.

Key regions: Worldwide, Italy, Asia, United States, Germany

Definition:

Musical instruments are devices designed to produce music, either by themselves or in combination with other instruments. The instruments are used by musicians, music producers, and hobbyists to create and perform music across various genres and styles. The market for musical instruments comprises a wide range of products, from traditional acoustic instruments to modern electronic and electromechanical devices. The market is driven by factors such as technological advancements, changing consumer preferences, and the growing popularity of music as a hobby and profession.

Structure:

The market for musical instruments can be broken down into several product categories:

Acoustic Pianos & Stringed Keyboard Instruments: This category includes instruments such as pianos, organs, harpsichords, and keyboards that produce sound through vibrating strings.
String Instruments: This category encompasses instruments such as violins, cellos, guitars, basses, and harps that produce sound through vibrating strings.
Wind Instruments: This category includes instruments such as flutes, clarinets, saxophones, trumpets, and trombones that produce sound through vibrating air columns.
Percussion Instruments: This category encompasses instruments such as drums, xylophones, maracas, and tambourines that produce sound through striking, shaking, or rubbing.
Electronic & Electromechanical Musical Instruments: This category includes instruments such as synthesizers, electronic keyboards, drum machines, and MIDI controllers that produce sound through electronic means.
Parts & Accessories of Musical Instruments: This category includes various parts and accessories used with musical instruments, such as guitar picks, drumsticks, strings, reeds, and cases.

Additional Information:

The market 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 like Yamaha, Fender, Gibson, Korg, and Roland. 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.

Market

Region

Region comparison

Currency

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.