Global Turntables Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Turntables Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A turntable is an assembly that includes the platter that spins the record and the tonearm/cartridge that picks up the music that is carved into the record. A turntable needs a separate preamp, amplifier and separate speakers to play records.

Market Overview:

The latest research study on the global Turntables market finds that the global Turntables market reached a value of USD 323.1 million in 2022. It’s expected that the market will achieve USD 503.99 million by 2028, exhibiting a CAGR of 7.69% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry

In a specific environment based on the COVID-19 outbreak, the global economy has been severely affected, bringing challenges and opportunities to the development of various industries. The report is based on the impact of COVID-19 and studies the carousel industry from different perspectives such as macroeconomics, industrial chain and regions.

Since the outbreak of the COVID-19 virus in December 2019, the disease has spread to nearly 100 countries around the world, and the World Health Organization declared this a public health emergency. The global impact of the coronavirus disease (COVID-19) has begun to appear and will affect the carousel market in 2020. COVID-19 can affect the global economy in three main ways: directly affecting production and demand, causing supply chain and market disruptions, and financial impact on companies and financial markets. During the popular period, the work, operations, revenue goals and industry development of the carousel industry are all challenges.

The COVID-19 outbreak has affected many areas, such as flight cancellations; travel bans and quarantine; restaurant closures; all indoor/outdoor activities are restricted; more than 40 countries have declared a state of emergency; supply chains have slowed significantly ; Stock market volatility; decline in business confidence, public panic and uncertainty about the future.

First, the sales of marketing channels will be affected differently. The COVID-19 epidemic has reduced offline passenger traffic, and the advantages of e-commerce companies have become increasingly prominent. During the epidemic prevention and control period, some carousel companies encountered great resistance.

The outbreak of the COVID-19 virus has affected the normal operations of the industry. The impact of COVID-19 on the carousel industry will involve all major links and all entities in the industry chain. The company’s management efficiency has declined, commuting has been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have fallen, and company and employee income has fallen. Due to the COVID-19 outbreak, the cancellation of live performances, the reduction of parties and entertainment activities will reduce the demand for turntables in the downstream market.

Region Overview:

From 2023-2028, United States is estimated to witness robust growth prospects.

Company Overview:

Denon is one of the major players operating in the Turntables market, holding a share of 12.33% in 2021.

Denon is a Japanese electronics company. Denon designs and manufactures home theater, audio, and software products. The Company offers audio video receivers, bluetooth speakers, sports and travel headphones, and compact systems.

Sony Corporation manufactures audio, home video game consoles, communications, key device, and information technology products for the consumer and professional markets. The Company's other businesses include music, pictures, computer entertainment, and online businesses.

Segmentation Overview:

Among different product types, Mid-Range Turntables segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Music Production segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Turntables market covered in Chapter 3:

Stanton
Music Hall
Rega
Ion
Sony
Panasonic Corporation
Audio-Technica
JR Transrotor
Thorens
Clearaudio turntables
Denon
Crosley
VPI Industries Inc
Numark

In Chapter 4 and Chapter 14.2, on the basis of types, the Turntables market from 2018 to 2029 is primarily split into:

Basic-Range Turntables
Mid-Range Turntables
Top End Turntables

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Turntables market from 2018 to 2029 covers:

Music Production
Bar and Music Club
Home Entertainment
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)