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 Products Chapter
The musical instrument retailing industry sells a wide variety of musical instruments, as well as general instrument parts, components and accessories.
Pianos and organs
Pianos are estimated to capture about 24.0% of industry revenue in 2014. Of this segment, grand pianos account for an estimated 38.4% of the total piano market, followed by digital and electric pianos for a combined 44.6% and vertical pianos at 17.0%. IBISWorld estimates that the pianos and organs product segment's share of industry revenue has been slowly declining in the five years to 2014.
Sales of grand pianos are down, which can be attributed to the recession as well as changing consumer tastes... purchase to read more