Electric Guitars

Electric Guitars

Global Electric Guitars Market to Reach US$7.5 Billion by 2030

The global market for Electric Guitars estimated at US$5.0 Billion in the year 2023, is expected to reach US$7.5 Billion by 2030, growing at a CAGR of 6.1% over the analysis period 2023-2030. Lead / Rhythm Guitars, one of the segments analyzed in the report, is expected to record a 6.5% CAGR and reach US$6.4 Billion by the end of the analysis period. Growth in the Bass Guitars segment is estimated at 4.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.3 Billion While China is Forecast to Grow at 9.3% CAGR

The Electric Guitars market in the U.S. is estimated at US$1.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2030 trailing a CAGR of 9.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.2% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Global Electric Guitars Market - Key Trends and Drivers Summarized

What Defines an Electric Guitar?

An electric guitar is a stringed musical instrument that uses electromagnetic pickups to convert the vibration of its steel-cored strings into electrical signals. Unlike acoustic guitars, electric guitars require amplification to produce a viable sound level. They typically have a solid or semi-hollow body and are essential in a wide range of musical genres, from rock and pop to blues and jazz. The versatility in sound, enabled by various pickups and tone settings, allows musicians to achieve a broad spectrum of tones, from bright and sharp sounds to warm and rich melodies.

How Have Electric Guitars Evolved Over Time?

The history of the electric guitar dates back to the early 20th century when musicians sought to amplify their sound using crude pickups in acoustic guitars. The 1930s saw the invention of the first commercially successful electric guitar, the "Frying Pan," made by Rickenbacker. This was followed by Gibson`s ES-150, which became a jazz favorite. In the 1950s, the introduction of the Fender Telecaster and Stratocaster revolutionized music, offering guitars that were not only functional but also affordable and durable. The subsequent decades have seen continuous innovations, such as multi-effects units, synthesizer interfaces, and more ergonomic designs, shaping modern music and performance.

Why Are Electric Guitars Popular in Modern Music?

Electric guitars have cemented their place in modern music due to their expressive capacity and adaptability. They play a pivotal role in shaping the sound and style of various music genres by providing distinctive tones that enhance musical expression. Musicians value electric guitars for their ability to integrate effects such as distortion, reverb, and delay, which allow for further sound exploration and creativity. The electric guitar`s visual appeal, with its sleek body designs and customizable appearances, also contributes to its popularity among artists looking to convey a certain aesthetic or identity.

What Are the Current Trends Impacting the Electric Guitar Market?

Today’s electric guitar market is influenced by a renaissance of retro styles and the integration of modern technology. Vintage designs are being revived by manufacturers who are also adding contemporary features like USB connectivity for direct recording and app-based controls for sound manipulation. Additionally, there is a growing trend towards sustainable materials and artisan craftsmanship, reflecting a broader consumer interest in unique, environmentally friendly products. Lightweight, compact models are becoming popular among younger, mobile musicians who value portability alongside quality.

What Drives the Growth of the Electric Guitar Market?

The growth in the electric guitar market is driven by several factors. An enduring interest in music education continues to bring young learners to the guitar, sustaining a steady demand. The market is also benefiting from the resurgence of live musical performances and the global expansion of music festivals, where electric guitars are prominently featured. Innovations in guitar manufacturing, such as improved electronic components and more accessible pricing models, make it easier for a wider audience to purchase high-quality instruments. Additionally, the digitalization of music sales and tutorials has helped democratize learning and owning electric guitars, propelling the market forward. These elements collectively fuel the expansion and sustain the cultural relevance of the electric guitar in the music industry.

Select Competitors (Total 26 Featured) -

• C. F. Martin & Co., Inc.
• Carvin Corporation
• Dean Guitars
• Epiphone Guitar Corp.
• Fender Musical Instruments Corp.
• G&L Musical Instruments
• Godin Guitars
• Karl Hofner GmbH & Co. KG
• Rickenbacker International Corporation
• Samick Musical Instrument Co., Ltd.
• Schecter Guitar Research
• Yamaha Corporation

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