Published Date: 24-Nov-2022
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According to a new report, published by KBV research, The Global Percussion Instruments Market size is expected to reach $1.7 billion by 2028, rising at a market growth of 3.8% CAGR during the forecast period.
The Professional market is leading the Global Percussion Instruments Market by Application in 2021, thereby, achieving a market value of $1 billion by 2028. This can be attributable from the growing number of music enthusiast people across the globe. Rising multi-day music events and the growth of the music industry, as well as the importance of percussion instruments in music and the rising use of these instruments by top performers are some of the factors that have led to percussion instruments taking a bigger share of the market as a whole.
The Electronic market is showcasing a CAGR of 4.6% during (2022 - 2028). The market for electronic percussion instruments is expected to grow because companies are coming up with more new ideas for them and professionals are buying them. Users can use sticks, their hands, or brushes to play these electronic instruments.
The North America market dominated the Global Percussion Instruments Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $594.1 million by 2028. The Europe market is anticipated to grow at a CAGR of 3.1% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 4.6% during (2022 - 2028).
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 Yamaha Corporation (Menchey Music Service, Inc.), Roland Corporation, Conn-Selmer, Inc. (Steinway Musical Instruments, Inc.), KHS Musical Instruments, D'Addario & Company, Inc., inMusic Brands, Inc., Remo Inc., Australis Music Group Pty Ltd (Ashton Music), Pearl Musical Instrument Co., and Walberg and Auge Inc.
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