DUBLIN--(BUSINESS WIRE)--The "The Electric & Acoustic Guitar Strings Market - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
Guitar strings can vibrate freely. Guitar strings are lengths of a flexible material that a musical instrument holds under tension controllably. Guitars typically have six strings with different thickness. Guitar string is the vibrating element.
Increasing sales of guitars across the world is expected to drive demand for electric & acoustic guitar strings over the forecast period. The increasing number of music festivals and live concerts at the global level is driving the sales of guitars. Participation of young generation in these concerts and festivals is promoting organization of music festivals and live concerts. For instance, according to a data published by SCI Maritime Training Institute (MTI), an integral part of The Shipping Corporation of India Ltd. (SCI) in 2019, the Rolling Loud music festival in Miami drew over 180,000 guests and nearly 200 million eager hip-hop fans in May 2018.
Various electric & acoustic manufacturers have been focusing on the development of innovative products related to the target market. The new guitar strings coupled with innovations in strings will allow for improved tone when playing high up the neck of the instrument. Additionally, the innovative guitar strings do not require any expensive changes to guitar players' existing instruments.
Moreover, key players are focusing on various strategies such as regional expansion coupled with business expansion. For instance, in March 2020, D'Addario & Co., a manufacturer of strings for musical instruments, announced to commence direct distribution of its products to the Italian dealer network from June 2020. The company will provide a direct sales and marketing service to Italy from its office based in Lyon.
Key features of the study:
- This report provides in-depth analysis of global electric & acoustic guitar strings market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global electric & acoustic guitar strings market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future products launches, technology up gradation, market expansion, and marketing tactics
- The global electric & acoustic guitar strings market report caters to various stakeholders in this industry including investors, suppliers, electric & acoustic guitar strings manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric & acoustic guitar strings market
Detailed Segmentation:
Global Electric & Acoustic Guitar Strings Market, By Product Type:
- Light
- Custom Light
- Extra Light
Global Electric & Acoustic Guitar Strings Market, By Application:
- Acoustic Guitar
- Electric Guitar
Global Electric & Acoustic Guitar Strings Market, By Region:
- North America
- By Country
- U.S.
- Canada
- Latin America
- By Country:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- By Country
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country
- China
- India
- Japan
- ASEAN
- South Korea
- Australia
- Rest of Asia Pacific
- Middle East & Africa
Company Profiles
- D'Addario & Co.
- Fender Musical Instruments Corporation
- Gibson Brands
- Ernie Ball Inc.
- GHS Strings
- C. F. Martin & Company Inc.
- Dunlop Manufacturing, Inc.
- Dean Markley USA, Inc.
- Kistron Co., Ltd.
- Rotosound Manufacturing Ltd.
- DR Handmade Strings
For more information about this report visit https://www.researchandmarkets.com/r/nn5rnw
