Musical Instruments Market Size By Product Type, By Type, by Price, By Consumer, By End-user, By Distribution Channel & Forecast 2025 – 2034

Musical Instruments Market Size

The global musical instruments market was valued at USD 47.5 billion in 2024 and is estimated to grow at a CAGR of 7% during the forecast period.
 

Live events and performances are increasing in popularity and that, in turn, is increasing investor interest in the musical instruments market. Since live shows cut across various genres of music, there is a market for instrument and performance gear. Stage musicians, whether old or new require a plethora of tools such as, guitars, drums, keyboards, amplifiers among other equipment. More live shows, for instance, global music tours and musical concerts require high grade sound and instrument equipment to better the concert experience. The number of music festivals is on the rise, thus increasing the demand of better instruments.
 

This is because, whenever such a festival is being organized, thousands of people gather in one place which definitely necessitates building the right kind of stage. There is also an increase in the number of people wanting to play an instrument as artists continue to hold live music events. S, instrument sales go up catering to novices as well as professionals. Other than this, the increase in streaming the likes of YouTube has also intensified the interest in the instruments as fans want to play too. Endorsements of instruments by different artists also encourage sales as their fans want to buy the instruments their favorite performers play. The market is definitely growing, but, after COVID 19, there has been a significant boost for the event industry meaning that the demand for new instruments has catapulted.
 

Musical Instruments Market Trends

The increase in the number of people who enjoy music is because of high demand for musical instruments. More people who use streaming and social media platforms are now searching to learn how to make music or play an instrument, this resulted in the rise of both amateur and professional musicians, thus increasing the demand for guitars, keyboards, drums and many more. Backed by online classes and music schools, the education market is also growing as customers want to sharpen their skills and buy more musical instruments.
 

The accessories market has also expanded, with the increasing popularity of various genres, from electronic music accessories to vintage guitars, leaving a larger group of consumers. Instruments available within reaching price ranges have made it easier for more believers to follow their music passion. Therefore, the increase in popularity of music all over the world has correspondingly increased the growth of dependency on musical instruments which has played a pivotal role in defining the market economy.
 

Musical Instruments Market Analysis

Based on the Product Type, the market is segmented into string instruments, electronic & electromechanical musical instruments, percussion instruments, wind instruments, acoustic pianos & stringed keyboard instruments, and parts & accessories of musical instruments. Parts & Accessories of Musical Instruments segment witnessed significant growth from 2025 to 2034, emerging as the dominant force, generating a revenue of USD 22.77 billion in 2024 and is expected to reach USD 45.57 billion by 2034.
 

The sales of instruments payable shape are the segments account economy because parts and accessories for instrument payables include various needs. Parts and accessories such as strings, drumheads, picks, pedals, tuners, and cases are always in demand as musical instruments require regular servicing, maintenance, or tuning along with an upgrade. Regular use instruments such as guitars and drums require replacement parts, and so musicians need them. As the seriousness of musicians heightens, better quality of parts and accessories are purchased to maintain the instruments or to better their performance with the aim extending the lifespan of the instruments.
 

Another significant consideration is customization. Custom guitar pickups, straps or special drumsticks are some of parts and accessories that musician incorporate on their instruments which gives a need for more variety. As more musicians decide to go on live performances and concerts, a need for easy to transport and more robust accessories rise, to cover that need there is a wide range of instrument bases and sets for during and after a transport, a good multitude other sound quality boosters like pedals, amplifiers and effect units.
 

Based on the distribution channel, the musical instruments market is segmented into online and offline. In 2024, the offline segment emerged as the market leader, commanding a 53.1% market share, and is anticipated to reach a valuation of USD 53.42 Billion by 2034. The offline musical instrument market explains its tendency to be the most common method of selling its products by noting that such instruments are tactile and need to be handled. Both amateurs and professionals have an impulse to touch an instrument, for only then can its real qualities be evaluated. Besides, music stores provide first-time sessions with purchased items.
 

First-time buyers or those looking for specific instruments face lot of difficulties but this initiated sub-market serves them well. They are ready to assist you with informed advice recommendations with video or product use for and negotiate the prices at fair levels. They also render such requisite post-sale services as repair maintenance and construction, ideal for every musician. So the overall outlook of immediate availability of all the products including instruments and accessories makes the offline channel attractive.
 

As of the year 2024, the U.S. occupied 53.5% of the overall musical instruments market in North America for the musical instruments segment, and its rate of growth during the forecast period is estimated to be 7.4%. The U.S. remains the primary monopolistic holder of the market because of the wide range of musical instruments that exist in the North American region. With the presence of numerous genres such as rock, jazz, pop and classical the allure to owning an instrument is limitless.
 

The nation encompasses a large number of music educational institutes, merchants and online enterprises allowing people easy access to these instruments. The country also witnesses a plethora of global events, superstar musicians as well as the headquarters of global brands like Fender and Gibson aiding to the growth. More over the U.S. markets are also replete with recording studios and live entertainment venues ensuring an incessant demand for the musical instruments.
 

North America: In North America, the musical instruments market is thriving owing to the popularity of music – particularly in the US’ rock, pop, jazz and country genres. The interest in music is among the youths which raises the need for musical instruments for both professional and personal use. Likewise, the sale of musical instruments goes up with numerous concerts, music festivals, and other live events that require musicians to have the best tools to perform. Due to the well developed nature of retail businesses coupled with online shopping tools, instruments are easier to get. Emerging trends are increased interest in high-quality musician voiced instruments and other electronic music instruments such as synthesizers and digital drum kits and a rise in the use of eco-friendly materials during the making of instruments.
 

Asia Pacific: A substantial development in the musical instruments market is being experienced in the Asia – Pacific regions due to the economic growth in China, India, and Southeast Asia. The burgeoning middle class that results in increased disposable income is enabling more customers to purchase musical instruments, with special emphasis on children and young adults due to the increasing importance of music education. Classical music remains relevant in a number of the countries in the region, increasing demand for modern and classical instruments. The movement of people into cities has also stimulated interest in music as a profession and as a pastime. Other developments are the growth of music apps and digital platforms, emphasis on affordable basic level equipment in developing countries, and growing interest for both classical and electronic music instruments.
 

The musical instruments market in Europe is supported by the opportunities offered by the classical, contemporary, and electronic music traditions of the region. In several countries, students and schools still constitute a large section of the customer base, ensuring the need for music educators and musical instruments. Apart from the various music festivals, concerts that are held regularly create a market for instruments. There is also a growing trend for new technologies like digital instruments and MIDI controllers. A shift towards sustainability is also seen, with several manufacturers turning to environmentally friendly materials. The modern era of Europe is focusing on combining traditional instruments with digital technologies which are enabling hybrid performances characterized by liveness and the integration of a digital platform.
 

Musical Instruments Market Share

The combined percentage of the market held by Yamaha, Kawai, Steinway, Roland, Casio, Samick, Fender, Focusrite, Gibson and Ibanez is between 25 and 30. Their product and brand strategy and their need to innovate are great success factors. The brands spend on R&D, operate large distributions throughout the world and smart market their products, securing endorsements with top musicians. These brands make gear available at all price levels and to everyone from novices to experts. They are also more focused on customization, eco-friendly materials and re-entering other markets greatly increasing their stance in the industry.
 

Musical Instruments Market Companies

Major players operating in the musical instruments industry are:

• Casio
• Cort
• Focusrite
• Fender
• Gibson
• Granada
• Ibanez
• Kawai
• Pearl
• Pluto
• QRS Music
• Roland
• Samick
• Steinway
• Yamaha
   

Musical Instruments Industry News

• March 2023: Roland has revealed The GP Digital Piano Series which distinguishes itself with remarkable functionalities as well as its magnificent crafted design. Roland is a Japan-based firm which is a renowned manufacturer of musical instruments.
   
• April 2023: From Japan, Yamaha Corporation which is one of the top music instrument producers has also set plans to attend the 2023 NAMM Show event that is set to take place in California. The company additionally presented a broad array of music instruments that vary from synthesizers, pianos, guitars to percussion devices.
   
• June 2023: The new addition was made by Gear4Music a musical instrument seller from U.K who now offers new and high end brands of G4M instruments that are custom made who fall under the classified category of intermediate and professional age brackets.
   
• October 2022: The higher end traditional style electric guitars including their necks, bodies, and hardware were all combined into one collection called the Fender American Vintage II Guitars and were launched by Bothners-Centurion previously based in South Africa.
   
• Yamaha is most likely the best brand if you consider the market rate of the music instruments. It has launched a portable piano known as PSR-E473 this year in March. The keyboard is well suited for the professionals as well as for the starters due to the pro quality music it has put on display on its 61 key touch keyboard.
   

The musical instruments market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Billion) and Volume (Thousand Units) from 2021 to 2034, for the following segments:

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Market, By Product Type

• String instruments
• Electronic & electromechanical musical instruments
• Percussion instruments
• Wind instruments
• Acoustic pianos & stringed keyboard instruments
• Parts & accessories of musical instruments

Market, By Type

• Portable
• Fixed

Market, By Price

• Low
• Medium
• High

Market, By Consumer

• Beginner
• Intermediate players
• Advanced or professional musicians

Market, By End-user

• Commercial music
• Events personal use
• Production/ direction
• Others

Market, By Distribution Channel

• Online
  • E-commerce
  • Company website 
• Offline
  • Advanced or professional musicians
  • Multi-brand stores or specialty shops
  • Others (Departmental Stores, etc.)

The above information is provided for the following regions and countries:

• North America
  • United States
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico 
• Middle East & Africa
  • Saudi Arabia
  • United Arab Emirates
  • South Africa