Industry Analysis & Industry Trends
Piano and keyboard sales depend on various economic factors, such as consumer sentiment, income, housing starts and government investment. The housing bust, financial crisis and subsequent recession slashed demand for pianos and keyboards from consumers and institutions. As unemployment rose and incomes fell, consumers cut back on discretionary purchases, including musical instruments. In turn, the Piano and Keyboard Manufacturing industry experienced steep revenue declines. Despite growth in 2010 and 2011, and an expected 5.3% jump over 2012, revenue is projected to equal $242.2 million this year, roughly $91.1 million below total revenue in 2007. Its current position reflects steep revenue drops of 30.4% and 23.5% in 2008 and 2009, respectively.... purchase to read more
Industry Report - Industry Products Chapter
Piano manufacturers produce all types of pianos and keyboards, including grand pianos, upright pianos, electronic player pianos and digital pianos. Most pianos are either acoustic or electric. Acoustic pianos utilize metal strings and hammers inside of a sound cabinet to produce sound. When a key is struck, its corresponding hammer hits the metal string, reverberating sound through the frame. Electric pianos either use analog circuitry or digital electronics in order to simulate piano sounds.
A grand piano is an acoustic piano in which the strings and hammers inside the sound cabinet are laid horizontally and the frame is carved in the shape of a harp. Because the layout is horizontal, the hammers fall off the strings by gravity... purchase to read more