The rising popularity of music and Western culture has become a significant driver for the global guitar market. The guitar, widely regarded as an iconic instrument in western music, has grown in global demand as genres such as rock, pop, blues, and country have spread to different parts of the world. The influence of Western culture, particularly through globalization, has introduced and familiarized these genres to new audiences, especially in developing regions.
Music channels, digital platforms, and social media have played an important role in amplifying the global appeal of guitar-based music. Popular artists such as Jimi Hendrix, Eric Clapton, and contemporary figures such as Ed Sheeran and John Mayer have inspired new generations of musicians, creating a global surge in interest in guitar playing. Furthermore, music festivals and concerts that highlight guitar-centric performances have increased awareness and exposure to the instrument, propelling its popularity among younger audiences.
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Data Bridge Market Research analyzes that Global Guitar Market is expected to reach 58,944,110.34 million by 2031 from USD 41,103,160.42 million in 2023, growing with a substantial CAGR of 4.7% in the forecast period of 2024 to 2031.
Key Findings of the Study
Growing Awareness and Interest in Music Education
The growing awareness and interest in music education have been pivotal in driving the global guitar market. As music is increasingly recognized for its cognitive, emotional, and social benefits, schools, institutions, and parents are placing greater emphasis on music as an essential part of education. Music education fosters creativity, improves memory, and enhances motor skills. It also offers emotional benefits such as stress relief, confidence-building, and self-expression, making it an attractive activity for students and families alike.
Guitar, as one of the most popular and versatile instruments, has seen increasing demand within music education programs. Its relatively affordable price, portability, and suitability for various genres make it ideal for both beginners and advanced learners. With the rise of online music courses and apps, learning the guitar has become more accessible, encouraging more people to pick up the instrument, whether in a formal education setting or independently.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2034
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Type (Acoustic Guitar, Electric Guitar, Electric-Acoustic Guitar, Classical Guitar, Bass Guitar, Resonator, Extended Range Electric Guitar, Lap Steel Guitar, Double Neck Guitar, and Others), Wood Material (Solid and Laminate), Covers (Solid Body, Semi-Hollow Body, Hollow Body, and Others), Tailpiece (Vibrato Arms, Floating Tailpiece, Floating Tailpiece, Hard Tail, and String-Through Body), Neck Shape (C Necks, U Necks, V Necks, and Others), Number Of Strings (Six Strings, Eight Strings, Twelve Strings, and More Than Twelve Strings), String Material (Steel, Nylon, and Others), Music Type (Rock, Blues, Pop, Metal, Jazz, Electronica, Traditional, and Others), Color (Black, Brown, Red, Light Tan, Light Yellow, Amber, and Others), Distribution Channel (Specialty Stores/Music Stores, E-Commerce, Supermarkets/Hypermarkets, and Others), Application (Professional Performance, Learning and Training, and Individual Amateurs)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Russia, Belgium, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia,
Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Egypt, and Rest of Middle East and Africa
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Market Players Covered
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Gibson Inc.(U.S.), Fender Musical Instruments Corporation( U.S.), Ibanez guitars(Japan), Yamaha Corporation(Japan), and TAYLOR-LISTUG, INC (U.S.).
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis
The global guitar market is segmented into eleven notable segments based on type, wood material, covers, tailpiece, neck shape, number of strings, string material, music type, color, distribution channel, and application.
- On the basis of type, the market is segmented into acoustic guitar, electric guitar, electric-acoustic guitar, classical guitar, bass guitar, resonator, extended range electric guitar, lap steel guitar, double neck guitar, and others
- On the basis of wood material, the market is segmented into solid and laminate
- On the basis of covers, the market is segmented into solid body, semi-hollow body, hollow body and others
- On the basis of tailpiece, the market is segmented into vibrato arms, floating tailpiece, floating tailpiece, hard tail, and string-through body
- On the basis of neck shape, the market is segmented into c necks, u necks, v necks, and others
- On the basis of number of strings, the market is segmented into six strings, eight strings, twelve strings, and more than twelve strings
- On the basis of string material, the market is segmented into steel, nylon and others
- On the basis of music type, the market is segmented into rock, blues, pop, metal, jazz, electronica, traditional and others
- On the basis of color, the market is segmented into black, brown, red, light tan, light yellow, amber and others
- On the basis of distribution channel, the market is segmented into specialty stores/music stores, e-commerce, supermarkets/hypermarkets, and others
- On the basis of application, the market is segmented into professional performance, learning and training, and individual amateurs
Major Players
Gibson Inc.(U.S.), Fender Musical Instruments Corporation( U.S.), Ibanez guitars(Japan), Yamaha Corporation(Japan), and TAYLOR-LISTUG, INC (U.S.).
Market Developments
- In June 2023, Yamaha Corporation announced the extension of Yamaha's Flagship Acoustic Guitars line of New Concert-Style Model named FS9 acoustic guitar. This model’s top board made of adriondack spuce and designed to maintain structural strength while allowing the body to vibrate more efficiently for the better projection and clarity.
- In February 2023, Yamaha Guitar Group, Inc., the U.S. subsidiary of Japan-based Yamaha Corporation, recently acquired Córdoba Music Group (CMG), expanding its portfolio, which already includes Yamaha, Line 6, and Ampeg brands.
- In September 2024, Martin Guitar, the leading manufacturer of acoustic guitars and ukuleles, has teamed up with Life is Good® to promote a message of optimism through music with the launch of the LX1 Life is Good acoustic guitar. This distinctive instrument combines Martin's legendary quality with the uplifting spirit of Life is Good, offering a musical experience that goes beyond sound. Perfect for travel, practice, or casual play, the LX1 embodies positivity and the joy that music brings
- In September 2024, Martin Guitar Museum is excited to announce the opening of a new exhibit, The Tom JeBran Collection, featuring an impressive array of vintage Martin electric guitars from Tom JeBran's personal collection, President of Trans-Bridge Lines, Inc. Opening on September 9, 2024, the exhibit will run for a year. The first six months will highlight six Martin F Series electric guitars, including models F-50, F-55, and F-65, along with JeBran's prized 1962 Martin 112T amplifier. The exhibit will then shift to showcase six GT Series electrics, including the GT-70 and GT-75 models
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