String Instruments - Mongolia
Mongolia- In Mongolia, the revenue generated in the String Instruments market amounted to US$1.3m in 2024.
- It is expected that this market will experience an annual growth rate of 6.87% (CAGR 2024-2029).
- When comparing this to the global market, it is noteworthy that the majority of revenue is generated China, with a value of US$1.1bn in 2024.
- Furthermore, in relation to the total population figures, the per person revenue generated in 2024 amounts to US$0.37.
- Mongolia's traditional string instruments, such as the morin khuur, continue to be cherished and preserved, reflecting the nation's deep cultural heritage.
Definition:
String instruments are musical instruments that produce sound by vibrating strings that are either plucked, bowed, or struck. Examples of string instruments include guitars, violins, cellos, and basses. These instruments are commonly used in a variety of musical genres, from classical to rock, and are popular for their versatility and wide range of sounds. Modern versions of these instruments include electric guitars and electric violins, which use electronic amplification to enhance their sound and allow for greater portability.
Additional Information:
The market for string 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 Fender, Gibson, Yamaha, and Martin. 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
- Guitar family, such as acoustic guitars, electric guitars and bass guitars
- Violin family, such as violin, viola, cello and double bass
- Harp family, such as concert harp and celtic harp
- Other string instruments, such as banjo, mandolin, ukulele and sitar
Out-Of-Scope
- Accessories of musical instruments, such as bows, rosin, shoulder rests, guitar strings and tuning pegs
