USD 1.5 billion
Percussion Instruments Market Size, Share, Growth Analysis, By Type(Traditional and Electronic), By Application(Professional, Amateur and Educational), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25J2043 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Percussion Instruments Market Insights
Percussion Instruments Market size was valued at USD 1.5 billion in 2021 and is poised to grow from USD 1.52 billion in 2022 to USD 1.66 billion by 2030, at a CAGR of 1.10% during the forecast period (2023-2030).
The percussion instruments market is being propelled by a dual force: professional demand due to the surge in musical events and a growing inclination among music enthusiasts to acquire percussion instruments. These instruments play a pivotal role in compositions by upholding the rhythm and harmonizing the overall sound of other musical elements. Positive influences on instrument adoption stem from early encouragement by parents or through education. The advent of the
Additionally, the fame of percussion instruments is being fueled by the onstage performances of renowned musicians and businesses during these events. The rising demand for percussion equipment from the marching band sector has also spurred growth in the industry's sales. The global percussion market is expanding due to the increased utilization of drums and other instruments in activities like military marches and bands. The market's future growth will be driven by fresh product innovations and technological advancements from manufacturing firms.
US Percussion Instruments Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Traditional
Fastest Growth
Traditional
Growth Rate
1.10% CAGR
Global Percussion Instruments Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Percussion Instruments Market Segmental Analysis
Global percussion instruments market is segmented based on type, application and region. Based on type the market is segmented into traditional and electronic. Based on application the market is segmented into professional, amateur and educational. Based on region the global Percussion Instruments Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Percussion Instruments Market Analysis by Application
In 2021, the professional category commanded the larger portion of the market, contributing to over 65.0% of the total revenue. Throughout the projected time frame, this segment is expected to undergo substantial expansion. The rise in multi-day music events, the thriving music industry, the integral role of percussion instruments in musical compositions, and the heightened adoption of these instruments by prominent artists collectively contribute to the significant market presence of percussion instruments.
Anticipated to display the swiftest compound annual growth rate (CAGR) of 1.5% between 2022 and 2030, the educational sector demonstrates remarkable progress. Factors propelling this market advancement include the proliferation of music institutions and the growing involvement of children in musical instrument utilization. Increasing interest in establishing new music schools, financial support from manufacturing entities for these educational institutions, and online advocacy for such establishments all contribute to the market's increasing demand.
Percussion Instruments Market Analysis by Type
The conventional segment of percussion instruments emerged as the highest revenue generator in 2021, commanding a share of nearly 79.0%. This sector is projected to observe a growth rate of 0.9%. Many consumers opt for traditional instruments due to their ability to produce authentic sounds. The rise in live events and the proliferation of musical content on social media platforms are further boosting the popularity of traditional instruments among both individual learners and professional musicians.
The electronic percussion instrument market is projected to achieve the fastest CAGR of over 1.5%. This growth is expected to be driven by the demand from experts in the field and an upswing in innovative product offerings from manufacturing companies. Within the realm of electronic percussion instruments, electronic drums stand out as particularly popular and are experiencing increasing demand on a global scale.
Global Percussion Instruments Market By Type 2022 (%)
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Percussion Instruments Market Regional Insights
In 2021, the percussion instruments market was predominantly led by North America, contributing to 34.4% of the total revenue. Forecasts indicate a modest 0.9% annual growth rate for the market. Strong-performing brands, substantial purchasing power, a well-established music industry, a considerable population of music enthusiasts, and an upsurge in live music occurrences are all factors that are expected to drive a heightened demand for percussion instruments.
The Asia Pacific region is predicted to experience a growth rate of 1.6% in this market. The expanding music industry and an increase in live performances are projected to stimulate the sales of percussion instruments in this region. This growth also holds the potential to encourage younger individuals to engage in musical instrument acquisition.
Global Percussion Instruments Market By Geography, 2022-2030
- Largest
- Fastest
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Percussion Instruments Market Dynamics
Percussion Instruments Market Drivers
Growing Popularity of Live Music Events to Bolster Market Growth
- The surging fame of live music occasions, such as concerts and music festivals, is propelling the need for percussion instruments. The incorporation of percussion instruments in live presentations introduces a dynamic and exhilarating dimension to the music, a quality that greatly captivates the audience.
Percussion Instruments Market Restraints
High Cost of Instruments to Hinder Market Growth
- Percussion instruments often come with a high price tag, making them inaccessible to a large portion of the population. This is especially the case for premium percussion instruments like timpani and marimbas, which can carry price tags in the thousands of dollars.
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Percussion Instruments Market Competitive Landscape
The market for percussion instruments is widely distributed, with numerous local and global companies playing a substantial role in its growth. Manufacturing enterprises are employing diverse marketing approaches, including the launch of novel products, expansion of distribution channels, and the offer of personalized services, to secure a significant share of the market. To fortify their market standings and enhance their market portions, these stakeholders employ a range of crucial strategies, such as innovating with new product releases, entering agreements, expanding geographically, and engaging in mergers and acquisitions.
Percussion Instruments Market Top Player’s Company Profiles
- Ludwig Drums
- Meinl Percussion
- Sabian Cymbals
- Gretsch Drums
- Tama Drums
- Latin Percussion (LP)
- Remo Inc.
- DW Drums
- Mapex Drums
- Zildjian Cymbals
- Vic Firth Company
- Sonor Drums
- Gon Bops Percussion
- Paiste Cymbals
- PDP Drums
- Alesis Drums
- Stagg Music
Percussion Instruments Market Recent Developments
- In February 2021, Pearl Corporation launched a new line of snare drums called the Crystal Beat Ultra Clear snares.
- In January 2021, Zildjian Cymbals announced a new partnership with the percussion software company, Drumforge.
Percussion Instruments Key Market Trends
- As digital music creation becomes more prevalent, the need for electronic percussion devices is on the rise. These instruments present various advantages, encompassing flexibility, mobility, and user-friendliness. Specifically, electronic drum sets have gained notable popularity among musicians and are projected to keep gathering momentum in the market.
- Concurrently, as music education initiatives expand, the requisition for percussion instruments is concurrently escalating. Educational institutions are dedicating resources to procure new instruments and gear, aiming to furnish their students with a holistic and enriched musical education encounter.
Percussion Instruments Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Based on our analysis, it has been determined that the growth of the Percussion Instruments market stems from a dual catalyst of heightened professional requirement due to a surge in musical occasions, and an escalating trend among music enthusiasts to procure percussion instruments. Moreover, the surge in fame for percussion instruments can be attributed to renowned musicians and enterprises incorporating them into their stage acts during these events. Additionally, the escalating need for percussion equipment from the marching band sector has also contributed to the upswing in industry sales. The global rise in popularity of live music events, including concerts and music festivals, is a significant driving force. These occurrences are spurring the demand for percussion instruments, given their fundamental role in a multitude of musical performances. Percussion instruments serve to craft rhythm, infusing vitality and enthusiasm into live musical experiences.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.5 billion |
| Market size value in 2031 | USD 1.66 billion |
| Growth Rate | 1.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Percussion Instruments Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Percussion Instruments Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Percussion Instruments Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Percussion Instruments Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Percussion Instruments Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Percussion Instruments Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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