IBISWorld’s Musical Instrument Manufacturing 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.


Industry Analysis & Industry Trends

Over the five years to 2017, revenue for the Musical Instrument Manufacturing industry in China is estimated to grow at an annualized rate of 10.1% to $7.2 billion. The industry was export-oriented for a long time, with exports' share of revenue reaching a high of 69.0% in 2005; this share declined to 46.1% in 2011 and has decreased since. Exports are expected to account for just 22.4% of industry revenue in 2017. Over the next five years, exports are forecast to decline slowly at an annualized rate of 2.0%.

An estimated 250 enterprises and 78,881 employees operate in the industry. The top four musical instrument manufacturers account for only 12.7% of industry revenue; however, market share concentration is expected to increase due to increased mergers and acquisitions...

Industry Report - Industry Products Chapter

Western musical instruments

This product segment is set to account for 52.5% of industry revenue in 2017. This high percentage is due to the higher prices of Western musical instruments as well as strong demand. Pianos, violins, guitars, and wind instruments account for the largest proportion of this segment, as these products are the most popular domestically and globally.

China has been the largest manufacturer of Western musical instruments in the world for many years. Domestic manufacturers mainly focus on the low- and mid-end markets for these instruments, while foreign enterprises focus on more high-end products.


Over the past five years, piano output rose due to rising demand in both domestic and export markets.


Additional Insights for the Musical Instrument Manufacturing Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Musical Instrument Manufacturing Industry are

  • Establishment of brand names
  • Provision of superior after sales service
  • Ability to pass on cost increases
  • IBISWorld analysts also discuss how external factors such as Domestic Goods Prices and Household Disposable Income in the Musical Instrument Manufacturing industry impact industry performance..

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    Industry Products

    What is the Musical Instrument Manufacturing Industry?

    Musical instrument manufacturers in China produce Chinese musical instruments, Western musical instruments, electronic and other musical instruments as well as related parts and components.

    Industry Products
    Western musical instruments
    Musical instrument parts
    Electronic musical instruments
    Chinese musical instruments
    Industry Activities
    Western musical instrument
    Chinese musical instrument
    Electronic musical instrument
    Musical instrument part

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Domestic Goods Prices
  • Household Disposable Income
  • Export Market
  • Industry Regulation

  • Current Performance
  • Foreign versus domestic manufacturers
  • Slowed export growth
  • Chart: Revenue Growth

  • Industry Outlook
  • Increasing competition
  • Imports and exports
  • Table: Musical Instrument Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Musical Instrument Manufacturing Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Department Stores & Shopping Malls
  • Supermarkets
  • Colleges & Universities
  • Households
  • Online Shopping

  • Key Selling Industries
  • Copper Smelting
  • Sawmills

  • Products & Services
  • Western musical instruments
  • Electronic musical instruments
  • Musical instrument parts
  • Chinese musical instruments
  • Chart: Musical Instrument Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
  • Household disposable income
  • Age structure
  • Positive social culture
  • Export markets

  • Major Markets
  • Musical instrument stores
  • Exports
  • Others
  • Sales subsidiaries
  • Chart: Major Market Segmentation for the Musical Instrument Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Musical Instrument Manufacturing

  • Basis of Competition
  • Price and quality
  • After-sales services
  • Brand awareness
  • Production scale
  • Training services
  • Domestic versus foreign manufacturers
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Musical Instrument Manufacturing Industry

  • Industry Globalization
    Major Companies
    Yamaha Music & Electronics (China) Co., Ltd.Guangzhou Pearl River Piano Group Ltd.Parsons Music CorporationKHS Musical Instruments Co., Ltd.Beijing Hsinghai Piano Group Ltd.
  • Table: Yamaha Music & Electronics (China) Co., Ltd. - financial performance
  • Table: Guangzhou Pearl River Piano Group Ltd. - financial performance
  • Table: Parsons Music Corporation - financial performance
  • Table: KHS Musical Instruments Co., Ltd. - financial performance
  • Table: Beijing Hsinghai Piano Group Ltd. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Musical Instrument Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Musical Instrument Manufacturing Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Total Assets (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Percussion Instrument
  • Examples include drums, pianos, and maracas. Sound is produced by one object striking another or by being scraped or shaken.
  • String Instrument
  • Examples include violins, violas, cellos, and double bass. Sound is produced by plucking, striking, or bowing taut strings.
  • Wind Instrument
  • Examples include clarinets, trumpets, and harmonicas. Sound is produced by the movement of an enclosed column of air, usually breath.
  • Why buy this report?

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    This report on Musical Instrument Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Musical Instrument Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

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