Market Insights Consumer Toys & Hobby Musical Instruments

Percussion Instruments - G7

In G7, the revenue generated in the Percussion Instruments market in 2024 amounts to US$0bn.
It is projected that the market will experience an annual growth rate of -0.52% from 2024 to 2029, resulting in a compound annual growth rate (CAGR) of -0.52%.
When comparing the revenue generated in the Percussion Instruments market globally, it is evident that in China leads the way with US$379m in 2024.
In terms of per capita figures, each person in G7 generates revenues of US$0.50 in the Percussion Instruments market in 2024.
In the United States, the demand for percussion instruments has seen a significant rise due to the growing popularity of marching bands and school music programs.

Key regions: Worldwide, Asia, China, Indonesia, United Kingdom

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.