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The Retail Market for Musical Instruments in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

The Retail Market for Musical Instruments Market Research Report | Retail Market Reports | The Retail Market for Leisure Goods | Dec 2014

Out of tune: Industry will contend with rising import competition and shrinking target market

IBISWorld’s The Retail Market for Musical Instruments market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Guitar Center Inc. Guitar Center Inc. market share
Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 09-14
0.7%
Annual Growth 14-19
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Profit
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Employment
38,432
Businesses
13,139
Industry Analysis & Industry Trends

After contracting slightly in 2010, the Retail Market for Musical Instruments has grown steadily, if moderately, over the past several years. The market has also experienced a surge of new entrants; though traditionally dominated by small brick-and-mortar locations, online retailers and big-box stores are increasingly offering industry products. However, the increase in market participants, coupled with rising penetration of low-cost imports, has exacerbated price competition and prevented growth in the industry's profit margins. Still, rising disposable income over the next five years will encourage budding musicians to purchase industry products, as well as enable experienced players to invest in higher-margin instruments.... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Retail Market for Musical Instruments is defined by a highly fragmented, widespread market. The industry's market share concentration level has remained low overall during the past five years, but is dominated by Guitar Center and its affiliate musical instrument retailing outlets. In 2014, Guitar Center alone will account for 20.2% of industry revenue. Over the past five years, market share concentration has been dwindling, as mass merchandisers, such as Walmart and Best Buy, continue to increase their musical instrument product offerings. This has taken away from brick-and-mortar establishments, which are already highly fragmented... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the The Retail Market for Musical Instruments Industry?

Companies in this industry sell musical instruments, such as guitars and pianos, and may also generate revenue from products sold alongside instruments, like sheet music or CDs. This report shows the size of the retail market for instruments and includes all major retail channels, including specialty stores, general merchandisers and e-retailers. Sales of audio and video equipment like amplifiers and microphones are excluded in this industry, as are musical instrument repairs and rentals.

Industry Products
PianosOrgansViolins, drums, guitars and other instrumentsSheet musicOther goods (includes tapes, CDs and audiobooks)
 
Industry Activities
Guitar retailingPiano and organ retailingDrum retailingOnline retailing of musical instruments


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