According to a new report Global Electric Guitars Market, published by KBV research, The Global Electric Guitars Market size is expected to reach $5.1 billion by 2027, rising at a market growth of 6.1% CAGR during the forecast period.
The Offline Channels market is generating high revenue in the Global Electric Guitars Market by Distribution Channel 2020, thereby, achieving a market value of $3.9 billion by 2027. Offline distribution channels provide important benefits such as flexibility of option, cheap product pricing, and strong brand awareness, making them a viable platform for all sorts of clients, which would augment the growth of the segment.
The Semi-hollow Body market shows highest growth rate of 5.7% during (2021 - 2027). The semi-hollow body guitar is a classic design mashup that has proven to be more than its parts, which is increasingly used by various musicians for its different sound quality.
The Lead/Rhythm market acquired maximum revenue share in the Global Electric Guitars Market by Type 2020, and thereby, achieving a market value of $4.0 billion by 2027. The rhythm electric guitar mostly adheres to the song's rhythm, which is a healthy, methodical, recurring pattern of sound or movement. The lead guitar, on the other hand, adds unique sound to the music by playing solos and filling melodies. Both have seen a surge in popularity in recent years.
The Asia Pacific market is the fastest growing region in the Global Electric Guitars Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.9 billion by 2027. The Europe market is expected to witness a CAGR of 5.6% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 5.9% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/electric-guitars-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Gibson Brands, Inc (Epiphone), Fender Musical Instruments Corporation, Karl Hofner GmbH & Co. KG, Ibanez guitars, Cort Guitars, Michael Kelly Guitar Co., Yamaha Corporation (Menchey Music Service, Inc.), and The ESP Guitar Company.
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