Acoustic Guitar Market Report 2024 (Global Edition)

Global Acoustic Guitar Market Report 2024 Market Size Split by Type (Nylon/Gut Stringed Guitars, Steel Stringed Guitars, Other), by Application (Perform, Teaching, Others), by Distribution Channel (Of...

Acoustic Guitar Market Report Description

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Acoustic Guitar Market Insights Video

Competitive Landscape of the Acoustic Guitar Market

The market for Acoustic Guitar is a highly dynamic and diversified competitive environment. It includes various suppliers, ranging from large multinational enterprises to smaller specialized organizations. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their Worldwide footprint, with significant market developments including new Material portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. Because of automation and technological advancement, businesses compete fiercely to deliver innovative products.

Acoustic Guitar Industry News

• July 2022: Yamaha Music Square will debut a brand-new collection of Revstar electric guitars in July 2022 that was just released by Yamaha Music Worldwide.
• September 2021: Fender Musical Instruments Corporation (FMIC) announced the introduction of the brand-new Player Plus Series for September 2021. With updated versions of some of Fender's most recognizable models, Player Plus places the guitar's power squarely in the hands of the next generation of players.
• July 2021: Cooperation with Kirk Hammett, a well-liked guitarist from the renowned heavy metal band Metallica, was announced by Gibson Brands, Inc. in July 2021. The firm hopes to release a signature line of guitars as a result of this cooperation.

Top Companies Market Share in Acoustic Guitar Industry: (In no particular order of Rank)

• Martin
• Taylor
• LARRIVEE
• Lakewood
• S.Yairi
• Fender
• Gibson
• Ibanez
• Paul Reed Smith Guitar
• Santa Cruz
• ESP
• CORT
• B.C.RICH
• Fender
• Yamaha
• Seagull
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, North America Acoustic Guitar Market share was 38% of total market

According to Cognitive Market Research, North America dominated the market in 2023 and accounted for a share of more than 38% of the worldwide revenue due to several variables. The North American region dominates the market for Acoustic Guitar. This is a result of the expanding idea of live music and the rising popularity of music performances in the United States. To draw the greatest client base in the area, companies like Michael Kelly Guitar Co. and others are launching new variations. In addition, a number of significant producers, like Yamaha Corporation, Fender Musical Instruments, and Gibson Brands, Inc., are releasing cutting-edge variations to expand their market share. Throughout the projected period, these factors are anticipated to fuel market expansion.

APAC region is the fastest growing during the projected timeframe. The biggest producers of musical instruments, such as China and India, are present, which is a major element in the market's expansion. One of the biggest worldwide music instrument trade shows takes place in China. Electric guitars are made possible thanks to these big trade shows. These elements are fuelling the region's desire for electric guitars.

The current report Scope analyzes Acoustic Guitar Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

South America Acoustic Guitar Market

South America Acoustic Guitar Market Analysis:

According to Cognitive Market Research, South America accounted for a share of more than 5% of the global revenue due to several variables. The advent of more cutting-edge items, the rising popularity of online guitar purchasing sites, and the rising desire for designer guitars all contribute to the growth of the guitar market. For instance, a brand-new 'boutique' guitar line has appeared on the South American guitar market, providing high-end instruments at premium pricing, and the number of internet guitar retailers has skyrocketed, making it easier for buyers to compare costs.

Middle East and Africa Acoustic Guitar Market

Middle East and Africa Acoustic Guitar Market Analysis:

According to Cognitive Market Research, the Middle East and African regions accounted for a share of more than 3% of the global revenue due to several variables. The region's strong industrial expansion, rising consumer expenditure, and growing population are the main causes of the high growth rate. The market for acoustic guitar market: increased urbanization and rising disposable income. The producers concentrate on the rapidly expanding market in an effort to enhance their market share and profitability.

Asia Pacific Acoustic Guitar Market

Asia Pacific Acoustic Guitar Market Analysis:

According to Cognitive Market Research, the APAC region accounted for a share of more than 24% of the global revenue due to several variables. APAC region is the fastest growing during the projected timeframe. The biggest producers of musical instruments, such as China and India, are present, which is a major element in the market's expansion. One of the biggest worldwide music instrument trade shows takes place in China. Electric guitars are made possible thanks to these big trade shows. These elements are fuelling the region's desire for electric guitars.

Europe Acoustic Guitar Market

Europe Acoustic Guitar Market Analysis:

According to Cognitive Market Research, the European Region accounted for a share of more than 30% of the global revenue due to several variables. The guitar industry is well-supported throughout Europe by a strong infrastructure. Customers may browse and buy a wide variety of guitars at the region's extensive network of music stores, which includes both huge retail chains and independently owned boutiques. The instruments' accessibility and availability have helped the area dominate the market. Europe has a long musical tradition that is deeply established in well-known genres like rock, blues, and country music, all of which include the guitar prominently. Due to this cultural influence, there is a significant demand for guitars in the nation, which has helped the guitar business expand.

North America Acoustic Guitar Market

North America Acoustic Guitar Market Analysis:

North America dominated the market in 2023 and accounted for a share of more than 30% of the Worldwide revenue due to several variables. The North American region dominates the market for Acoustic Guitar. This is a result of the expanding idea of live music and the rising popularity of music performances in the United States. To draw the greatest client base in the area, companies like Michael Kelly Guitar Co. and others are launching new variations. In addition, a number of significant producers, like Yamaha Corporation, Fender Musical Instruments, and Gibson Brands, Inc., are releasing cutting-edge variations to expand their market share. Throughout the projected period, these factors are anticipated to fuel market expansion.

Acoustic Guitar Market Analysis

Acoustic Guitar Type Segment Analysis

According to Cognitive Market Research, nylon/gut stringed guitars are the item that is utilized the most frequently in the market for Acoustic Guitar. Jazz and Latin music frequently feature the smooth, mellow tone that nylon/gut-stringed guitars generate. Nylon strings are a popular option for novices since they are delicate and mild on the fingers as compared to steel strings, which are rough on the fingers. 

The steel-string acoustic guitar is the second-most used product. Steel wire is an acoustic guitar with steel strings, as opposed to nylon, is a true acoustic guitar. The steel strings sound sharper and louder than the softer nylon strings because they are often stronger and thicker.

• Nylon/Gut Stringed Guitars
• Steel Stringed Guitars
• Other

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Acoustic Guitar Industry. Request a Free Sample PDF!

Application Segment Analysis of Acoustic Guitar Market

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Acoustic Guitar from 2019 to 2031. This will also help to analyze the demand for Acoustic Guitar across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.

Some of the key Application of Acoustic Guitar are:

• Perform
• Teaching
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Acoustic Guitar Distribution Channel Segment Analysis

According to Cognitive Market Research, e-commerce dominates the market during the projected timeframe. Guitar sales in traditional stores have been surpassed by e-commerce. Consumers prefer making purchases via online channels due to rising internet usage and advantages like convenient access and payment alternatives. Any guitar sold online has a different selling price from the market price. This is typically a result of the deals and discounts that may be found on business websites or any other internet resource. Throughout the projected period, these variables will continue to be favorable for the segment.

The retail establishment sells a selection of guitars from different brands. Guitar sales through offline outlets rose as the lockdowns were progressively lifted in several nations across the world. Therefore, a sizable portion of revenue in 2023 came from the offline category.

• Offline Retail
• Online Retail

Acoustic Guitar End-User Segment Analysis

According to Cognitive Market Research, the professionals category dominates the market during the projected timeframe. Professionals prefer acoustic guitar since it might be more difficult to play if you have tiny hands or have yet to develop your finger strength and dexterity because the strings are farther away from the fretboard.

The amateur category is the fastest growing during the projected timeframe. Although metal strings are used on the majority of acoustic guitars, nylon strings can be softer on the fingers and a better choice for beginners who are still learning how to play.

• Professional
• Amateur

Acoustic Guitar Price Range Segment Analysis

According to Cognitive Market Research, the low-price range category dominates the market during the projected timeframe. Old hobbyists and bored inmates were anxious to try something new, and the tendencies above continued to drive those purchases. This indicates that guitars in the lower price range typically sell in greater quantities. Additionally, there are more economical guitar brands available to players at the novice and intermediate levels who don't want to break the money.

The high price range category is the fastest growing during the projected timeframe. Considering that higher-end guitars are more expensive, their market is often limited. It's important to note that certain expensive guitar models continue to enjoy a sizable following among professional players who seek the highest level of tone and build quality from their instruments. Sales figures for these expensive models can be unexpected but generally stay the same over time.

• Low
• Mid
• High

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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