Europe Guitar Market Outlook, 2028

Europe Guitar Market Outlook, 2028

A guitar is a musical instrument with six strings that is played with the hands by plucking the strings. Electric and acoustic guitars are two popular types of guitar. Furthermore, the guitars serve as rhythm, lead, or both at times. As a symbol of creativity, expression, and freedom, the guitar has played an important role in European culture. From busking on the streets of Paris to performing in packed stadiums, the guitar has been the instrument of choice for countless musicians and performers throughout Europe, and it continues to inspire new generations of players and fans. Furthermore, the earliest known European guitar was made in Spain in the 16th century. It had six strings and a small body, and was played using the fingers rather than a pick. Moreover, the guitar continues to be a popular instrument in Europe, with a wide range of musical styles and genres being played on the instrument. From classical to rock, folk to jazz, the guitar remains an important part of European musical culture. Furthermore, There is a growing trend in the guitar market towards sustainability, with many manufacturers now using eco-friendly materials and sustainable production methods. Consumers are increasingly concerned about the environmental impact of their purchases, and guitar manufacturers are responding by offering environmentally-friendly products. In addition, European governments support a range of music festivals that celebrate the guitar and other instruments. These festivals provide a platform for emerging guitarists to showcase their talents and connect with other musicians from around the world.

According to the research report, ""Europe Guitar Market Outlook, 2028"", published by Bonafide Research, the Europe guitar market is anticipated to reach USD 1.82 Billion by 2028. The population's disposable income can have an impact on the guitar market. Consumers in higher-income regions may be more willing to purchase higher-end guitars, whereas consumers in lower-income regions may purchase more entry-level or budget guitars. Furthermore, many consumers now want guitars that are customized to their individual needs and preferences. Manufacturers are responding by offering more customizable options, such as different finishes, woods, and hardware, and by offering bespoke and custom-built guitars. Moreover, demographic trends, such as the age and gender of guitar players, can also impact the guitar market in Europe. For example, the aging population in Europe may lead to increased demand for guitars designed for older players, while the growing number of female guitar players may lead to increased sales of guitars designed for women. In addition, effective marketing and promotion can also have a significant impact on the guitar market in Europe. Companies that are able to effectively promote their products and build a strong brand identity may be more successful in attracting customers and driving sales.

According to the report, the European market is segmented into six major countries, including Germany, the United Kingdom, France, Italy, Spain, and Russia. Among these, Germany leads the European guitar market. Guitar manufacturing has a long history in Germany, dating back to the 1800s. Well-known German guitar brands include Framus, Höfner, and Warwick. Furthermore, Markneukirchen, in Germany's Vogtland region, is known as the ""city of music"" due to its long history in instrument manufacturing. Since the early 1900s, the town has been producing guitars, and it still houses several guitar manufacturers today. Moreover, the guitar is a popular instrument in German music education, with many schools and universities offering guitar courses and programs. The University of Music and Performing Arts Munich is one of the largest and most prestigious music schools in Germany and offers a variety of guitar programs. Furthermore, France has a rich musical heritage, with a particular emphasis on classical and acoustic guitar music. The country is home to several guitar manufacturers, including Alhambra, Lag, and Lâg Guitars. Moreover, the UK has a strong music culture and a long history of guitar manufacturing, with iconic brands such as Fender and Marshall originating from the country. The UK is also home to a large number of guitar stores and music venues.

Based on product type, the market is segmented into acoustic and electric. The acoustic segment dominated the market in terms of share during the forecast period. Europe has a rich tradition and history of acoustic guitar music, particularly in folk and classical genres. As a result, there is a strong demand for acoustic guitars in the region. Moreover, Acoustic guitars are portable and can be played in a variety of settings, making them popular for outdoor concerts, festivals, and busking. This versatility has contributed to the popularity of acoustic guitars in Europe. The electric guitar segment is expected to have the fastest CAGR during the forecast period in the European guitar market. The electric guitar segment has benefited from advancements in technology, including the development of new pickups, amplifiers, and digital effects pedals. These innovations have improved the quality and versatility of electric guitars, making them more appealing to musicians. Moreover, Younger generations are increasingly interested in playing the guitar and are more likely to be drawn to the electric guitar segment. As a result, the segment is expected to continue to grow in the coming years.

The market is divided into offline and online segments based on the distribution channel. The offline channel dominated the market share at 52.22% in 2022. Many consumers prefer to purchase guitars in person so they can test them out and get a feel for the instrument before making a purchase. Offline stores provide this experience, allowing customers to try out different guitars and receive advice from knowledgeable staff. Furthermore, offline stores can offer a higher level of customer service compared to online retailers. This can include advice on guitar selection and maintenance, as well as repair services for guitars. The online segment is expected to grow at the fastest CAGR during the forecast period. Online distribution channels can leverage digital marketing techniques such as social media advertising and email campaigns to reach a wider audience and build brand awareness. Moreover, younger generations are more likely to shop online for guitars and related products. As younger consumers become a larger portion of the guitar-buying population in Europe, the online distribution channel is expected to continue to grow.

More students in music schools want to learn to play the guitar. The growing popularity of music is fueling an increase in guitar demand. People are encouraged to learn to play the guitar because popular music genres such as metal and rock are popular. There are many popular guitar schools in Europe that offer a range of programs for guitar enthusiasts of all skill levels. Here are some of the most well-known music schools: Guitar Institute of Technology, Musicians Institute, Academy of Contemporary Music, CPM Music Institute, Conservatorium van Amsterdam, Escuela de Musica Creativa, Jazz Pop Academy. Montreux Jazz Festival, Glastonbury Festival, Primavera Sound Festival, Ronnie Scott's Jazz Club, The Roundhouse, O2 Academy Brixton, Whelan's, Wembley Stadium, Wembley Stadium, Rock Werchter Festival, Roskilde Festival, and Sziget Festival are a few examples of live music shows and events in Europe where the guitar is used. There are many more venues and festivals throughout the continent that celebrate this iconic instrument.

There are several notable guitar museums in Europe, including The Guitar Museum in Barcelona, Spain: This museum showcases a collection of over 300 guitars from different eras, including antique guitars from the 18th and 19th centuries, classical and flamenco guitars, and electric guitars from the 20th century. Furthermore, the Museum of Music in Paris, France This museum has an extensive collection of musical instruments, including guitars from different periods and styles, such as baroque, classical, flamenco, and modern. Moreover, the Italian Guitar Museum in Siena, Italy This museum features a collection of over 100 guitars, including instruments from the Renaissance and Baroque periods, classical and flamenco guitars, and modern electric and acoustic guitars. Furthermore, the Czech Museum of Music in Prague, Czech Republic This museum houses a collection of musical instruments from different cultures and periods, including a selection of guitars from the 19th and 20th centuries. In addition to the Musical Instrument Museum in Brussels, Belgium this museum has a large collection of musical instruments from around the world, including guitars from different periods and styles.

There are many popular guitarists in Europe, including David Gilmour, Mark Knopfler, Brian May, Paco de Lucia, Django Reinhardt, Al Di Meola, Eric Clapton, and many more. There are many popular online sites where guitars are sold in Europe. Here are some of the most well-known sites include Thomann, Musicstore, Andertons, Gear4Music, DV247, MusicstoreLive, JustMusic, and many more. There are many popular guitar stores in Europe, including GuitarGuitar, Music Store Professional, Guitar Exchange, Wanjo Guitars, Music House, Session Music, Fanatic Guitars, and many more.

Opportunities:
There is an opportunity for guitar manufacturers to incorporate innovative technology into their products. For example, advanced electronic components can enhance the functionality of electric guitars and provide new sound capabilities. Furthermore, there are emerging markets in Europe that offer opportunities for guitar manufacturers and retailers. For example, countries in Eastern Europe such as Poland and Romania have a growing middle class with increasing disposable income, which creates potential new markets for guitar products. Moreover, there is a growing demand for customized guitars among consumers. This presents an opportunity for guitar manufacturers to offer personalized products and services to meet the unique needs of individual customers.

Restraints:
Guitars can be expensive to produce, and high-end models can be out of reach for many consumers. The high cost of guitars can be a barrier to entry for new players or those looking to upgrade their instrument. Furthermore, Musical trends change over time, and some styles of music may not feature the guitar as prominently as others. For example, electronic dance music, hip-hop, and other genres may not require a guitar at all.

Developments:
Fender has introduced several new models for 2021, including the American Professional II Stratocaster and Telecaster. They have also launched the Fender Play online learning platform to help new guitar players learn how to play. Furthermore, Gibson has continued to expand its product line in 2021 with the release of the Slash Collection and the Gibson Custom Shop Murphy Lab. They have also partnered with other companies to offer new guitar-related products, such as the Gibson x Klipsch speaker. Moreover, Yamaha will launch several new guitars in 2021, including the FG Red Label and the APXT2EW. They have also introduced new technology, such as the Acoustic Resonance Enhancement (ARE) treatment for their guitars, to improve sound quality. Furthermore, Ibanez will release several new models in 2021, including the Axion Label and the AZ Series. They have also expanded their line of bass guitars with the release of the SRMD200 and SRMD205 models. In addition, PRS Guitars will introduce several new models in 2021, including the S2 Vela Semi-Hollow and the SE Hollowbody II. They have also launched a new acoustic guitar line, the SE A Series.

Startups of Guitar in Europe:
• Ormsby Guitars is an Australian company that has a growing presence in Europe. They specialize in custom electric guitars that are built to order. Their unique designs and high-quality craftsmanship have gained them a loyal following among guitar enthusiasts.
• Aristides Instruments is a Dutch company that produces guitars made from a composite material called Arium. Their guitars are known for their exceptional sustain and clarity of tone.
• Strandberg Guitars is a Swedish company that has gained a reputation for producing ergonomic and innovative electric guitars. Their guitars feature a unique design that minimizes weight and maximizes playability.
• Mayones Guitars is a Polish company that produces high-end electric and bass guitars. They offer a wide range of custom options, allowing customers to design their own unique instruments.
• Tausch Electric Guitars is a German company that produces handmade electric guitars using traditional woodworking techniques. Their guitars are known for their exquisite craftsmanship and attention to detail.

Companies Mentioned in this Report:
Fender Musical Instruments Corporation, Gibson Brands, Inc., Karl Höfner GmbH & Co. KG , Yamaha Corporation, Cort Guitars, Paul Reed Smith Guitar, Samick Musical Instrument Co., Ltd, Taylor Guitars, C.F. Martin & Co. Inc, Hoshino Gakki, Roland Corporation.

Considered in this report
• Geography: Europe
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Europe Guitar market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:
• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

By Product Type:
• Acoustic Guitar
• Electric Guitar

By Distribution Chanel:
• Offline
• Online

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, government-generated reports, and databases. After gathering the data from secondary sources, primary research was conducted by making telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started doing primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the guitar industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.