Electric Guitar Market Size

The global electric guitar market size was valued at $5.11 billion in 2024 and is projected to reach $7.54 billion by 2030, growing at a CAGR of 6.7% during the forecast period.

Electric Guitar Market Overview

An electric guitar is a musical instrument that utilizes a pickup system to convert the vibrations of its metal strings into electrical signals. Distinguished by its solid or semi-hollow body, an electric guitar requires external amplification to produce sound. Unlike acoustic guitars, which rely on the resonant qualities of their bodies, electric guitars depend on electronic amplification. The guitar's design comprises a body, often solid or semi-hollow, a neck with frets and tuning pegs, and magnetic pickups situated beneath the strings. These pickups capture the string vibrations, transforming them into electrical signals. Various controls on the guitar, such as knobs and switches, allow musicians to manipulate the volume, tone, and pickup selection. Electric guitars are known for their versatility, making them a popular choice across a spectrum of music genres, from rock and blues to jazz and pop.

Electric Guitar Market Dynamics

• The electric guitar market is expected to witness significant growth in the future due to the rise in disposable income, increase in the number of musical bands across the world, and rapid economic expansions.

• Additionally, the continued popularity of rock music and creation of the novel technologies are the prominent factors driving the growth of the electric guitar market.

• However, the high cost of manufacturing and lack of highly skilled and trained labor are restraining the market growth.

• On the contrary, the rising number of live concerts and commercialization of music festivals are creating opportunities for the market growth.

Impact of COVID-19 on the Electric Guitar Market

During the pandemic, the global electric guitar market faced challenges due to disruptions in the supply chain. Factory closures, restrictions on transportation, and delays in raw material shipments affected production schedules, leading to shortages and delays in product availability. Some manufacturers used the slowdown as an opportunity to invest in innovation and technology. This period saw the development of new features, designs, and digital enhancements for electric guitars to meet the evolving preferences of musicians. The electric guitar market demonstrated resilience as businesses adapted to the new normal. Virtual events, online tutorials, and creative marketing strategies helped maintain engagement with consumers and mitigate some of the adverse effects.

By Type, the Solid Body Guitar Segment is projected to be the Largest Segment in the Electric Guitar Market

The Solid Body Guitar segment is projected to be the largest segment in the Electric Guitar market during the forecast period owing to the widespread popularity of rock and metal music genres. Solid-body electric guitars are particularly favored in the realm of rock music, making them a staple for many bands. The increasing global count of musical groups is anticipated to fuel the demand for solid-body electric guitars in the coming years.

• For instance, according to Geography Realm's data from May 2021, Finland exhibited a notable rise in heavy metal bands, with 70.6 bands per 100,000 people, compared to 53.2 bands per 100,000 people in 2012.

By Geography, Asia Pacific Region Holds the Dominant Position in the Market Revenue

Asia Pacific region holds the dominant position in the market revenue due to the robust consumer influence and rapidly changing consumer preferences driven by rising per capita disposable income. The expanding interest in music and the willingness to invest in entertainment and leisure activities have contributed to a surge in product demand in the Asia Pacific. Additionally, the rising participation of musical bands in organizing music shows and festivals is expected to drive market growth in the forecast period.

Key Target Audience:

• Amplifier and Accessory Manufacturers

• Musicians

• Manufacturers and Retailers

• Media and Reviewers

• Educational Institutions

• Government Regulations

• Technology Providers

List of the Key Players Profiled in the Report Includes:

• Yamaha Corporation

• DEAN GUITARS

• Epiphone

• Fender Musical Instruments Corporation

• Gibson Brands, Inc.

• Ibanez Guitars

• Michael Kelly Guitar Co.

• The ESP Guitar Company

• Karl H??fner GmbH & Co. KG

• Cort Guitars

Recent Developments:

• In April 2023, Gibson partnered with Kirk Hammett Guitarist of Metallica to Create the 1979 Gibson Flying V. The 1979 Flying V is a significant piece of Hammett's musical history, and this collaboration aims to capture its essence with meticulous attention to detail. The guitar is expected to feature the unique design elements that contributed to its iconic status in the world of rock and heavy metal. The partnership between Gibson and Kirk Hammett highlights the enduring influence of both the artist and the brand in shaping the landscape of electric guitars and further solidifies the connection between musicians and their instruments.

• In February 2023, Yamaha Guitar Group, Inc has revealed the successful acquisition of C??rdoba Music Group. This strategic move expands Yamaha Guitar Group's extensive portfolio, which already includes renowned brands like Yamaha, Line 6, and Ampeg. The incorporation of C??rdoba's distinctive range of acoustic and electric instruments, along with accessories, further enhances the diverse array of offerings within Yamaha's product lineup.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type:

• Chambered Bodies Guitar

• Electric Acoustic Guitar

• Hollow Body Guitars

• Seven String Guitar

• Solid Body Guitar

• Twelve String Electric Guitar

Market by, Price:

• Low

• Medium

• High

Market by, Distribution Channel:

• Online

• Offline

Market by, End Users:

• Individual Amateurs

• Learning & Training

• Professional Performance

Market by, Geography:

The electric guitar report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

What can be explored with this research report:

• Understand the key trends that will drive the market and the challenges it faces in the current market scenario.

• Identify growth opportunities.

• Porter's five force analysis.

• In-depth analysis of market segments, and regions/countries predicted to observe promising growth.

• Historical and forecast size of the market in terms of revenue (USD Million).

• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted