The Asia Pacific Musical Instruments Market would witness market growth of 5.0% CAGR during the forecast period (2023-2030).
Acoustic instruments are quite costly. The production process of pianos, violins, and guitars is intricate and time-consuming. This suggests adequate financial resources and time are required to manufacture acoustic instruments. Due to this, the ultimate price of these instruments is extremely high. Innovative products, such as digital and electronic pianos, have increased in the musical instrument industry with technological progress. These instruments are consequently more expensive than conventional instruments. The majority of people are unable to afford such outrageous products. Therefore, the excessive expense associated with these instruments serves as a constraint on the market's expansion.
The choice of most of the population in specific regions drives the demand for specific instruments. Furthermore, cultural and socioeconomic factors in different geographies are expected to impact the sales of specific instruments. As adolescents continue to embrace music as a hobby or a full-fledged career option, the market for various instruments is expected to grow. In addition, the rise in popularity of music reality shows, live music bands, and concerts is expected to boost demand for modern, high-tech, and expensive instruments.
According to the Ministry of Commerce, in 2021, China's cross-border e-commerce imports and exports rose by 15% annually to 1.98 trillion yuan. The cross-border e-commerce trade reached 434.5 billion yuan in the first quarter 2022. E-commerce facilitates cross-border trade, allowing Chinese sellers to export these instruments to international sectors and enabling Chinese consumers to import instruments from various regions, promoting a dynamic exchange of goods. Due to the aforementioned factors the market growth will drive in this region.
The China market dominated the Asia Pacific Musical Instruments Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,004.4 Million by 2030. The Japan market is registering a CAGR of 4.2% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 5.6% during (2023 - 2030).
Based on Type, the market is segmented into Stringed, Keyboard, Brass & Woodwind, and Percussion. Based on Distribution Channel, the market is segmented into Specialty Stores, Online Sales Channel, and Supermarkets/Hypermarkets. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Musical Instruments Market is Predict to reach $16.7 Billion by 2030, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eastman Music Company, Fender Musical Instruments Corporation (Servco Pacific Inc.), Casio Computer Co., Ltd., Steinway, Inc. (Paulson & Co. Inc.), Kawai Musical Instruments Manufacturing Co., Ltd., Yamaha Corporation, Guangzhou Pearl River Piano Group Co., Ltd., Yanagisawa Wind Instruments Co., Ltd., C. F. Martin & Co., Inc. and Roland Corporation
Scope of the Study
Market Segments Covered in the Report:
By Type
- Stringed
- Keyboard
- Brass & Woodwind
- Percussion
By Distribution Channel
- Specialty Stores
- Online Sales Channel
- Supermarkets/Hypermarkets
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Eastman Music Company
- Fender Musical Instruments Corporation (Servco Pacific Inc.)
- Casio Computer Co., Ltd.
- Steinway, Inc. (Paulson & Co. Inc.)
- Kawai Musical Instruments Manufacturing Co., Ltd.
- Yamaha Corporation
- Guangzhou Pearl River Piano Group Co., Ltd.
- Yanagisawa Wind Instruments Co., Ltd.
- C.F. Martin & Co., Inc.
- Roland Corporation
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Musical Instruments Market, by Type
1.4.2 Asia Pacific Musical Instruments Market, by Distribution Channel
1.4.3 Asia Pacific Musical Instruments Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter Five Forces Analysis
Chapter 4. Strategies Deployed in Musical Instruments Market
Chapter 5. Asia Pacific Musical Instruments Market, by Type
5.1 Asia Pacific Stringed Market, by Country
5.2 Asia Pacific Keyboard Market, by Country
5.3 Asia Pacific Brass & Woodwind Market, by Country
5.4 Asia Pacific Percussion Market, by Country
Chapter 6. Asia Pacific Musical Instruments Market, by Distribution Channel
6.1 Asia Pacific Specialty Stores Market, by Country
6.2 Asia Pacific Online Sales Channel Market, by Country
6.3 Asia Pacific Supermarkets/Hypermarkets Market, by Country
Chapter 7. Asia Pacific Musical Instruments Market, by Country
7.1 China Musical Instruments Market
7.1.1 China Musical Instruments Market, by Type
7.1.2 China Musical Instruments Market, by Distribution Channel
7.2 Japan Musical Instruments Market
7.2.1 Japan Musical Instruments Market, by Type
7.2.2 Japan Musical Instruments Market, by Distribution Channel
7.3 India Musical Instruments Market
7.3.1 India Musical Instruments Market, by Type
7.3.2 India Musical Instruments Market, by Distribution Channel
7.4 South Korea Musical Instruments Market
7.4.1 South Korea Musical Instruments Market, by Type
7.4.2 South Korea Musical Instruments Market, by Distribution Channel
7.5 Singapore Musical Instruments Market
7.5.1 Singapore Musical Instruments Market, by Type
7.5.2 Singapore Musical Instruments Market, by Distribution Channel
7.6 Malaysia Musical Instruments Market
7.6.1 Malaysia Musical Instruments Market, by Type
7.6.2 Malaysia Musical Instruments Market, by Distribution Channel
7.7 Rest of Asia Pacific Musical Instruments Market
7.7.1 Rest of Asia Pacific Musical Instruments Market, by Type
7.7.2 Rest of Asia Pacific Musical Instruments Market, by Distribution Channel
Chapter 8. Company Profiles
8.1 Eastman Music Company
8.1.1 Company Overview
8.1.2 Recent strategies and developments:
8.1.2.1 Partnerships, Collaborations, and Agreements:
8.1.2.2 Product Launches and Product Expansions:
8.1.3 SWOT Analysis
8.2 Kawai Musical Instruments Manufacturing Co., Ltd.
8.2.1 Company Overview
8.2.2 Recent strategies and developments:
8.2.2.1 Product Launches and Product Expansions:
8.3 Guangzhou Pearl River Piano Group Co., Ltd.
8.3.1 Company Overview
8.4 Yanagisawa Wind Instruments Co., Ltd.
8.4.1 Company Overview
8.5 C. F. Martin & Co., Inc.
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Product Launches and Product Expansions:
8.6 Fender Musical Instruments Corporation (Servco Pacific Inc.)
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Product Launches and Product Expansions:
8.6.2.2 Acquisition and Mergers:
8.6.3 SWOT Analysis
8.7 Casio Computer Co., Ltd.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Recent strategies and developments:
8.7.4.1 Product Launches and Product Expansions:
8.7.5 SWOT Analysis
8.8 Steinway, Inc. (Paulson & Co. Inc.)
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Product Launches and Product Expansions:
8.8.3 SWOT Analysis
8.9 Yamaha Corporation
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional & Segmental Analysis
8.9.4 Research & Development Expenses
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.9.5.2 Acquisition and Mergers:
8.9.6 SWOT Analysis
8.10. Roland Corporation
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 Recent strategies and developments:
8.10.5.1 Product Launches and Product Expansions:
8.10.5.2 Acquisition and Mergers:
TABLE 1 Asia Pacific Musical Instruments Market, 2019 - 2022, USD Million
TABLE 2 Asia Pacific Musical Instruments Market, 2023 - 2030, USD Million
TABLE 3 Asia Pacific Musical Instruments Market, by Type, 2019 - 2022, USD Million
TABLE 4 Asia Pacific Musical Instruments Market, by Type, 2023 - 2030, USD Million
TABLE 5 Asia Pacific Stringed Market, by Country, 2019 - 2022, USD Million
TABLE 6 Asia Pacific Stringed Market, by Country, 2023 - 2030, USD Million
TABLE 7 Asia Pacific Keyboard Market, by Country, 2019 - 2022, USD Million
TABLE 8 Asia Pacific Keyboard Market, by Country, 2023 - 2030, USD Million
TABLE 9 Asia Pacific Brass & Woodwind Market, by Country, 2019 - 2022, USD Million
TABLE 10 Asia Pacific Brass & Woodwind Market, by Country, 2023 - 2030, USD Million
TABLE 11 Asia Pacific Percussion Market, by Country, 2019 - 2022, USD Million
TABLE 12 Asia Pacific Percussion Market, by Country, 2023 - 2030, USD Million
TABLE 13 Asia Pacific Musical Instruments Market, by Distribution Channel, 2019 - 2022, USD Million
TABLE 14 Asia Pacific Musical Instruments Market, by Distribution Channel, 2023 - 2030, USD Million
TABLE 15 Asia Pacific Specialty Stores Market, by Country, 2019 - 2022, USD Million
TABLE 16 Asia Pacific Specialty Stores Market, by Country, 2023 - 2030, USD Million
TABLE 17 Asia Pacific Online Sales Channel Market, by Country, 2019 - 2022, USD Million
TABLE 18 Asia Pacific Online Sales Channel Market, by Country, 2023 - 2030, USD Million
TABLE 19 Asia Pacific Supermarkets/Hypermarkets Market, by Country, 2019 - 2022, USD Million
TABLE 20 Asia Pacific Supermarkets/Hypermarkets Market, by Country, 2023 - 2030, USD Million
TABLE 21 Asia Pacific Musical Instruments Market, by Country, 2019 - 2022, USD Million
TABLE 22 Asia Pacific Musical Instruments Market, by Country, 2023 - 2030, USD Million
TABLE 23 China Musical Instruments Market, 2019 - 2022, USD Million
TABLE 24 China Musical Instruments Market, 2023 - 2030, USD Million
TABLE 25 China Musical Instruments Market, by Type, 2019 - 2022, USD Million
TABLE 26 China Musical Instruments Market, by Type, 2023 - 2030, USD Million
TABLE 27 China Musical Instruments Market, by Distribution Channel, 2019 - 2022, USD Million
TABLE 28 China Musical Instruments Market, by Distribution Channel, 2023 - 2030, USD Million
TABLE 29 Japan Musical Instruments Market, 2019 - 2022, USD Million
TABLE 30 Japan Musical Instruments Market, 2023 - 2030, USD Million
TABLE 31 Japan Musical Instruments Market, by Type, 2019 - 2022, USD Million
TABLE 32 Japan Musical Instruments Market, by Type, 2023 - 2030, USD Million
TABLE 33 Japan Musical Instruments Market, by Distribution Channel, 2019 - 2022, USD Million
TABLE 34 Japan Musical Instruments Market, by Distribution Channel, 2023 - 2030, USD Million
TABLE 35 India Musical Instruments Market, 2019 - 2022, USD Million
TABLE 36 India Musical Instruments Market, 2023 - 2030, USD Million
TABLE 37 India Musical Instruments Market, by Type, 2019 - 2022, USD Million
TABLE 38 India Musical Instruments Market, by Type, 2023 - 2030, USD Million
TABLE 39 India Musical Instruments Market, by Distribution Channel, 2019 - 2022, USD Million
TABLE 40 India Musical Instruments Market, by Distribution Channel, 2023 - 2030, USD Million
TABLE 41 South Korea Musical Instruments Market, 2019 - 2022, USD Million
TABLE 42 South Korea Musical Instruments Market, 2023 - 2030, USD Million
TABLE 43 South Korea Musical Instruments Market, by Type, 2019 - 2022, USD Million
TABLE 44 South Korea Musical Instruments Market, by Type, 2023 - 2030, USD Million
TABLE 45 South Korea Musical Instruments Market, by Distribution Channel, 2019 - 2022, USD Million
TABLE 46 South Korea Musical Instruments Market, by Distribution Channel, 2023 - 2030, USD Million
TABLE 47 Singapore Musical Instruments Market, 2019 - 2022, USD Million
TABLE 48 Singapore Musical Instruments Market, 2023 - 2030, USD Million
TABLE 49 Singapore Musical Instruments Market, by Type, 2019 - 2022, USD Million
TABLE 50 Singapore Musical Instruments Market, by Type, 2023 - 2030, USD Million
TABLE 51 Singapore Musical Instruments Market, by Distribution Channel, 2019 - 2022, USD Million
TABLE 52 Singapore Musical Instruments Market, by Distribution Channel, 2023 - 2030, USD Million
TABLE 53 Malaysia Musical Instruments Market, 2019 - 2022, USD Million
TABLE 54 Malaysia Musical Instruments Market, 2023 - 2030, USD Million
TABLE 55 Malaysia Musical Instruments Market, by Type, 2019 - 2022, USD Million
TABLE 56 Malaysia Musical Instruments Market, by Type, 2023 - 2030, USD Million
TABLE 57 Malaysia Musical Instruments Market, by Distribution Channel, 2019 - 2022, USD Million
TABLE 58 Malaysia Musical Instruments Market, by Distribution Channel, 2023 - 2030, USD Million
TABLE 59 Rest of Asia Pacific Musical Instruments Market, 2019 - 2022, USD Million
TABLE 60 Rest of Asia Pacific Musical Instruments Market, 2023 - 2030, USD Million
TABLE 61 Rest of Asia Pacific Musical Instruments Market, by Type, 2019 - 2022, USD Million
TABLE 62 Rest of Asia Pacific Musical Instruments Market, by Type, 2023 - 2030, USD Million
TABLE 63 Rest of Asia Pacific Musical Instruments Market, by Distribution Channel, 2019 - 2022, USD Million
TABLE 64 Rest of Asia Pacific Musical Instruments Market, by Distribution Channel, 2023 - 2030, USD Million
TABLE 65 Key Information – Eastman Music Company
TABLE 66 Key Information – Kawai Musical Instruments Manufacturing Co., Ltd.
TABLE 67 Key Information – Guangzhou Pearl River Piano Group Co., Ltd.
TABLE 68 Key Information – Yanagisawa Wind Instruments Co., Ltd.
TABLE 69 Key Information – C. F. Martin & Co., Inc.
TABLE 70 Key Information – Fender Musical Instruments Corporation
TABLE 71 Key Information – Casio Computer Co., Ltd.
TABLE 72 Key Information – Steinway, Inc.
TABLE 73 Key Information – Yamaha Corporation
TABLE 74 Key Information – Roland Corporation
List of Figures
FIG 1 Methodology for the research
FIG 2 Asia Pacific Musical Instruments Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Musical Instruments Market
FIG 4 Porter’s Five Forces Analysis – Musical Instruments Market
FIG 5 Asia Pacific Musical Instruments Market share, by Type, 2022
FIG 6 Asia Pacific Musical Instruments Market share, by Type, 2030
FIG 7 Asia Pacific Musical Instruments Market, by Type, 2019 - 2030, USD Million
FIG 8 Asia Pacific Musical Instruments Market share, by Distribution Channel, 2022
FIG 9 Asia Pacific Musical Instruments Market share, by Distribution Channel, 2030
FIG 10 Asia Pacific Musical Instruments Market, by Distribution Channel, 2019 - 2030, USD Million
FIG 11 Asia Pacific Musical Instruments Market share, by Country, 2022
FIG 12 Asia Pacific Musical Instruments Market share, by Country, 2030
FIG 13 Asia Pacific Musical Instruments Market, by Country, 2019 - 2030, USD Million
FIG 14 SWOT Analysis: Eastman Music Company
FIG 15 SWOT Analysis: Fender Musical Instruments Corporation
FIG 16 SWOT Analysis: Casio Computer Co., Ltd.
FIG 17 SWOT Analysis: Steinway, Inc.
FIG 18 SWOT Analysis: Yamaha Corporation