New York, July 4 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Electric Guitars Global Market Report 2022” – https://www.reportlinker.com/p06290046/?utm_source=GNW
The global electric guitar market is expected to grow from $2.61 billion in 2021 to $2.84 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The electric guitar market is expected to reach $3.60 billion in 2026 with a CAGR of 6.1%.
The electric guitar market consists of sales of electric guitars by entities (organizations, sole proprietorships, or partnerships) that refer to a guitar with electric or magnetic pickups that enhance and diffuse sound through a speaker. The electric guitar is a sound-producing instrument with a wooden body and steel strings.
It converts the vibrations of its strings into electrical impulses, which are then reproduced as sound through loudspeakers, using one or more microphones.
The main types of electric guitars are electric acoustic guitar, seven-string guitar, solid body guitar, hollow body guitar and other types. Acoustic-electric guitars are simply acoustic guitars fitted with a pickup and often a preamp so that they can be plugged into an amp or PA system for live performance.
The different prizes include low, medium, high and are distributed through different channels such as online and offline. These are used by professionals, learners and individual hobbyists.
Asia-Pacific was the largest region in the Electric Guitar Market in 2021. Regions covered in the Electric Guitar Market report are Asia-Pacific, Western Europe, Eastern Europe , North America, South America, the Middle East and Africa.
The Electric Guitars Market research report is one of a series of new reports that provide statistics on the Electric Guitars market, including the global Electric Guitars industry market size, regional shares, competitors holding Electric Guitars market share, detailed Electric Guitars market segments, market trends and opportunities. , and any other data you may need to thrive in the electric guitar industry. This Electric Guitars Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing interest in music is a major driver for the growth of the electric guitar market. People are interested in music because music refreshes the soul and is a great source of entertainment.
Electric guitars, including gems and gasoline, are crucial in popular music genres, and the fashion for these genres motivates many people to learn to play the guitar. For example, according to the Fender Musical Instruments Corporation (FMIC), a US-based musical instrument manufacturer, 16 million new guitarists adopted the instrument in the first half of 2021, with nearly one million imports. of acoustic guitars and 96.50 lakh electric. guitar imports, a 35% increase over historical averages. Hence, the growing interest in music is expected to propel the growth of the electric guitar market in the future.
Strategic partnerships and collaborations have become a key trend gaining popularity in the electric guitar market. Major companies operating in the electric guitar business focus on partnerships or collaboration to meet consumer demand and strengthen their position.
For example, in November 2021, ESP guitars, an electric guitar manufacturer based in Japan, collaborated with Finally. The goal of this collaboration was to create a series of limited-edition digital assets based on the company’s Pyrography electric guitars.
Finally is a US-based company that specializes in the production and distribution of non-fungible tokens (NFTs) for the music, sports and entertainment industries. Additionally, in October 2021, Fender, a US-based company that makes guitars, basses, amplifiers, and other related gear collaborated with a luxury car brand, Lexus.
The goal of this collaboration was to create a unique electric guitar known as the LC Lexus Stratocaster. The Lexus LC Stratocaster would epitomize Lexus’ desire for bold design and smart technology. Lexus is a Japanese luxury car manufacturer.
In November 2021, Fender Musical Instruments Corporation (FMIC), an American company that manufactures guitars, basses, amplifiers and other related equipment, acquired PreSonus Audio Electronics for an undisclosed sum. The acquisition of PreSonus Audio Electronics will bring an ecosystem that combines hardware and software to deliver a seamless end-to-end experience for customers at every stage of their creative journey.
PreSonus Audio Electronics is a United States-based company that manufactures professional audio equipment, including electric guitars.
The countries covered in the Electric Guitars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06290046/?utm_source=GNW
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