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Musical Instrument & Supplies Stores in the US: Market Research Report

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

Musical Instrument & Supplies Stores Market Research Report | NAICS 45114 | Jan 2017

Chord progression: Despite rising competition, the industry's recent revenue declines will stabilize

IBISWorld’s Musical Instrument & Supplies Stores market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 11-16
-2.0%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
35,321
Businesses
10,683
Industry Threats & Opportunities
  • Over the past five years, heightened external competition caused industry revenue to decline
  • Big-box stores provide competition to industry retailers
  • Increased disposable income will cause consumers to buy higher-end instruments
  • ... purchase to read more

Industry Analysis & Industry Trends

The Musical Instrument and Supplies Stores industry suffered in the five years to 2016. Poor economic conditions and marginal decreases in the number of adolescents, an important market segment, have driven down demand for the musical instruments and related industry products. Despite the industry's devastating performance over the past five years, IBISWorld forecasts that the Musical Instrument and Supplies Stores industry's revenue will grow in the five years to 2021... ... purchase to read more

Industry Report - Industry Products Chapter

Violins, drums, guitars and other instruments

Musical instruments, except pianos and organs, and other equipment this industry sells are estimated to account for 49.5% of total industry sales in 2016. This segment includes string instruments like violins and guitars, horns, drums, synthesizers, sound reinforcements and musical instrument digital interface equipment. According to the National Association of Music Merchants (NAMM), products in this segment have been falling in price due to increasing Chinese imports and a modest decline in high-end instrument sales. Rising imports of low-cost Chinese goods have allowed retailers to offer entry-level acoustic guitars for about $150 each and electric guitars for $175 each. Whi.. ... purchase to read more

Additional Insights for the Musical Instrument & Supplies Stores Industry

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

  • Attractive product presentation
  • Experienced work force
  • Ability to control stock on hand
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and External competition for Musical Instrument and Supplies Stores in the Musical Instrument & Supplies Stores industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Musical Instrument & Supplies Stores Industry?

    This industry retails an extensive selection of musical instruments, sheet music and related supplies such as microphones, amplifiers and audio systems. These products are usually sold directly to end consumers. Many industry operators also repair and rent these products and provide music instruction.

    Industry Products
    Pianos and organsViolins, drums, guitars and other instrument purchases and rentalsAudio equipment, components, parts and accessoriesSheet music Other goods (includes, tapes, CDs and audiobooks)
     
    Industry Activities
    Retailing musical instrumentsRetailing musical suppliesRetailing sheet musicRepairing musical instruments and suppliesProviding private music lessons and instruction


    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
  • Per capita disposable income
  • External competition for Musical Instrument and Supplies Stores
  • Number of adolescents aged 10 to 19
  • Time spent on leisure and sports
  • Current Performance
  • Fluctuating demand
  • Tough competition
  • Consumer trends
  • Chart: Revenue Growth
  • Industry Outlook
  • Increasing demand
  • Continuing competition
  • Specialty shops
  • Table: Musical Instrument & Supplies Stores Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Musical Instrument & Supplies Stores Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Audio Production Studios
  • Community Colleges
  • Musical Groups & Artists
  • Performers & Creative Artists
  • Public Schools
  • Private Schools
  • Colleges & Universities
  • For-Profit Universities
  • Consumers
  • Key Selling Industries
  • Audio & Video Equipment Manufacturing
  • Major Label Music Production
  • Miscellaneous Product Manufacturing
  • Music Publishing
  • Products & Services
  • Violins, drums, guitars and other instrument purchases and rentals
  • Sheet music
  • Pianos and organs
  • Audio equipment, components, parts and accessories
  • Other goods (includes, tapes, CDs and audiobooks)
  • Chart: Musical Instrument & Supplies Stores Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Hobbyists
  • Professionals
  • Students
  • Education
  • Other
  • Chart: Major Market Segmentation for the Musical Instrument & Supplies Stores 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
  • Chart: Cost Structure Benchmarking – Sector vs Musical Instrument & Supplies Stores
  • Basis of Competition
  • Internal competition
  • External competition
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Musical Instrument & Supplies Stores Industry
  • Industry Globalization
    Major Companies
    Guitar Center Inc.
  • Table: Guitar Center Inc. - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Musical Instrument & Supplies Stores 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 & Supplies Stores Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Time spent on leisure and sports (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Table: Industry Financial Ratios
  • Jargon & Glossary
    E-Commerce
  • The buying and selling of products or services over electronic systems, such as the internet and other computer networks.
  • Sheet Music
  • A musical composition in printed or written form, which is normally in the form of unbound leaves.
  • Sound Reinforcement Systems
  • An electronic means for augmenting sound output of a speaker, singer or musical instruments. It includes equipment like microphones, amplifiers and loudspeakers.
  • Tablature
  • An introductory form of music notation that describes a song based on note fingering positions rather than musical pitches.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Musical Instrument & Supplies Stores:
    • 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 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 & Supplies Stores 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

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Musical Instrument & Supplies Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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