Electric & Acoustic Guitar Strings Market

Electric & Acoustic Guitar Strings Market, By Product Type, By Application, And By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

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.

Market Dynamics

Increasing sales of guitars across the world is expected to boost demand for electric & acoustic guitar strings over the forecast period. Increasing number of music festivals and live concerts at the global level is boosting 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 2020, the Rolling Loud music festival in Miami had more than 180,000 guests, and nearly 200 million eager hip-hop fans in 2020

Various electric & acoustic manufacturers are focusing on the development of innovative products related to the market. The new guitar strings coupled with innovations in strings Allow for enhanced tone when playing high up the instrument's neck. The innovative guitar strings does 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 servicein 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$ 510.6 Million) and compound annual growth rate (CAGR 3.5%) for the forecast period (2023-2030), considering 2022 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
• Key companies covered as a part of this study include 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., and DR Handmade Strings
• 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
• 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
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
• Company Profiles
• D’Addario & Co.
• Fender Musical Instruments Corporation
• Gibson Brands
• Ernie Ball Inc.
• GHS Strings
• Martin & Company Inc.
• Dunlop Manufacturing, Inc.
• Dean Markley USA, Inc.
• Kistron Co., Ltd.
• Rotosound Manufacturing Ltd.
• DR Handmade Strings