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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 | Feb 2013

Staying in tune: Rising imports will pressure profit, while higher incomes spur modest growth

IBISWorld’s The Retail Market for Musical Instruments market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Guitar Center Inc. Guitar Center Inc. market share
Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 08-13
1.2%
Annual Growth 13-18
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Profit
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Employment
41,553
Businesses
14,016
Industry Analysis & Industry Trends

Musical instrument retailers are increasingly optimistic as consumers buy items that they delayed purchasing during the recession. Following the collapse of the US economy, reduced disposable income caused industry revenue to dip 0.7% in 2010 as consumers substituted toward cheap imported instruments. As a result, import penetration into the manufacturing sector spiked 9.3% in 2010, and it is estimated to rise at a 1.7% annualized rate in the five years to 2013. At the same time, however, a higher quantity of musical instruments encouraged retailers to stock and display them, which ultimately boosted industry sales over the past five years. Revenue is forecast to rise at a 1.2% annualized five-year rate to $6.7 billion in 2013, including a 4.4%.... purchase to read more

Industry Report - Industry Analysis Chapter

Rising import penetration and price competition made musical instruments more affordable to consumers during the past five years, which expanded the Retail Market for Musical Instruments. A steady 0.3% annualized increase in the industry's core market of adolescents aged 10 to 19 has also supported industry growth. As a result, IBISWorld estimates that revenue will rise at a 1.2% annualized rate to $6.7 billion in the five years to 2013. This includes a 4.4% expected boost to revenue from rebounding disposable income in 2013.

Competition undermines profitability

During the five years to 2013, import penetration into the manufacturing sector is anticipated to increase at a 2.2% annualized rate to make up about 30.0% of manufactured products... 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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