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
Annual Growth 09-14
Annual Growth 14-19
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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 SWOT Analysis Chapter

The Retail Market for Musical Instruments is contributing to a shrinking proportion of the economy because rising price competition and a flood of lower-margin imports are undermining industry profitability. Products sold by the industry are becoming less expensive due to offshoring and as initial development costs are gradually deducted from the retail price.

Likewise, wages are stable despite employment growth because of increasing sales through websites that often sell a wider variety of products than brick-and-mortar retailers. In the 10 years to 2019, the average wage is forecast to increase from an estimated $21,894 to $22,881, and the industry's total wages are forecast to rise at an average rate of 1.1% per year... 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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