Parts & Accessories of Musical Instruments - Mongolia
Mongolia- In Mongolia, the revenue generated in the Parts & Accessories of Musical Instruments market is projected to reach US$5.1m in 2024.
- This market segment is expected to experience an annual growth rate of 8.24% (CAGR 2024-2029).
- When compared to other countries worldwide, China leads in terms of revenue generation, with a total of US$4.9bn in 2024.
- In relation to the population size, the per person revenue in Mongolia for 2024 amounts to US$1.47.
- Despite its rich musical heritage and growing interest in music, Mongolia has a limited market for parts and accessories of musical instruments due to a lack of local production and availability.
- Key regions:
- United Kingdom,
- India,
- China,
- Europe,
- United States
Definition:
Parts and accessories of musical instruments include products that are used to maintain, repair, or enhance the performance of musical instruments. These products include strings, reeds, drumheads, picks, stands, cases, and amplifiers. Parts and accessories are essential for musicians to ensure that their instruments are in good condition and produce the desired sound. The market for parts and accessories of musical instruments is driven by factors such as the increasing number of musicians and music enthusiasts, the need for replacement and repair of parts, and the growing demand for high-quality sound and performance.
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 D'Addario, Fender, Gibson, and Shure. 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
- Parts of musical instruments, such as guitar strings, saxophone reeds, mouthpieces and drumheads
- Accessories of musical instruments, such as cases, guitar straps, metronomes and stands
Out-Of-Scope
- Printings, such as sheet music and music books
- Electric devices accessories such as cables, connectors, power adapters and batteries
