Piano Sales Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The piano sales market size has grown steadily in recent years. It will grow from $2.26 billion in 2023 to $2.32 billion in 2024 at a compound annual growth rate (CAGR) of 2.7%. The growth in the historic period can be attributed to economic conditions, demographic changes, education policies, lifestyle changes, and marketing and branding.
The piano sales market size is expected to see steady growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%. The growth in the forecast period can be attributed to psychological benefits, real estate trends, events and cultural celebrations, consumer preferences, and consumer preferences. Major trends in the forecast period include smart integration, compact designs, customization options, subscription models, and personalization.
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Scope Of Piano Sales Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Piano Sales Market Overview
Market Drivers –
The growing popularity of live performances is expected to propel the growth of the piano sales market going forward. Live performances refer to a demonstration, show, or entertainment event when musicians, artists, actors, or other performers interact live with the audience. The popularity of live performances is rising due to the increasing demand for authentic and immersive entertainment experiences in a digitally saturated world. Piano sales contribute to the quality and diversity of live performances by providing musicians with high-quality instruments tailored to their specific needs and preferences, enhancing the overall musical experience for both performers and audiences. For instance, in February 2024, according to Live Nation, a US-based live entertainment company, the company’s concert business generated revenues of $18.7 billion, up 39% year on year at constant currency, with attendance to concerts rising 20% and over 145 million fans attending over 50,000 events in 2023. Therefore, the growing popularity of live performances is driving the growth of the piano sales market.
Market Trends –
Major companies operating in the piano sales market are focused on developing innovative products, such as digital pianos, to boost their revenue in the market. A digital piano is an electronic musical instrument designed to replicate an acoustic piano’s sound and feel while offering additional features and capabilities. For instance, in January 2024, Casio Computer Co. Ltd., a Japan-based electronics company, launched the CELVIANO digital piano AP-750. This piano is designed to deliver the rich resonance, playability, and sophisticated, expressive power of a grand piano while at the same time offering new ways to enjoy playing, with new functions created with original Casio innovation. The piano employs the newly developed Grandphonic Sound System, which delivers an unprecedented level of natural authenticity, recreating the way a grand piano resonates and immersing performers in the experiential world of classical music.
The piano sales market covered in this report is segmented –
1) By Type: Grand Piano, Upright Piano
2) By Distribution Channel: Offline, Online
3) By Application: Performance, Learning And Teaching, Entertainment
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Regional Insights –
Asia-Pacific was the largest region in the piano sale market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the piano sales market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the piano sales market report are <b>Kawai Musical Instruments Manufacturing Co Ltd.; Yamaha Corporation; Casio Computer Co Ltd; Sweetwater Sound Inc.; Roland Corporation; Steinway Musical Instruments; Thomann GmbH; Samick Musical Instruments Co Ltd; Petrof Piano a.s.; Guangzhou Pearl River Piano; Hailun Piano Co Ltd; Andertons Music Co; Long & McQuade Limited; C. Bechstein Pianoforte AG; Kraft Music Ltd; Baldwin Piano Inc; Mason And Hamlin Company; Nord Keyboards AB; Normans Musical Instruments Ltd; Allegro Music Ltd; Schimmel Pianos GmbH; Mendelssohn Piano (Shanghai) Co., Ltd; Korg Inc; Kurzweil Music Systems; Hyundai Development Company Young Chang </b>
Table of Contents
- Executive Summary
- Piano Sales Market Report Structure
- Piano Sales Market Trends And Strategies
- Piano Sales Market – Macro Economic Scenario
- Piano Sales Market Size And Growth
…..
- Piano Sales Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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