Electric Guitar Market Synopsis

The global Electric Guitar Market was valued at USD 3100.21 Million in 2023 and is likely to reach USD 5300.12 Million by 2032, increasing at a CAGR of 6.13% from 2024 to 2032.

Electric guitars represent one of the most well-known musical instruments with a solid or semi empty body and a neck with a fingerboard. They utilize a pickup and an amplifier to create sound and are for the most part utilized in a few musical genres, such as rock, jazz, blues, pop, country, and metal.

• They are able of producing different sounds and impacts, such as reverb, distortion, and overdrive, and can be associated to other gadgets, including pedals and recording equipment. At present, key players are propelling novel variants like secluded and customizable electric guitars that permit players to effortlessly swap out parts and make special instruments as per their requirements. They are too consolidating tall tech highlights, such as built-in impacts, remote connectivity, and digital modelling in electric guitars to offer a wide range of sounds and playing choices.       
• An electric guitar is a guitar that requires outside enhancement in arrange to be listened at commonplace execution volumes, unlike a standard acoustic guitar. It employments one or more pickups to change over the vibration of its strings into electrical signals, which eventually are replicated as sound by loudspeakers. The sound is some of the time formed or electronically modified to attain diverse timbres or tonal qualities from that of an acoustic guitar by means of enhancer settings or handles on the guitar. Frequently, this is done through the utilize of impacts such as reverb, mutilation and "overdrive"; the last mentioned is considered to be a key component of electric blues guitar music and jazz, rock and heavy-metal guitar-playing.

Plans also exist combining qualities of the electric and acoustic guitars: the semi-acoustic and acoustic-electric guitars. Invented in 1932, the electric guitar was received by jazz guitar players, who needed to play single-note guitar solos in large enormous band gatherings. Early advocates of the electric guitar on record incorporate Les Paul, Eddie Durham, George Barnes, Lonnie Johnson, Sister Rosetta Tharpe, T-Bone Walker, and Charlie Christian. Amid the 1950s and 1960s, the electric guitar got to be the foremost vital instrument in prevalent music.[1] It has advanced into an instrument that is capable of a huge number of sounds and styles in classes ranging from pop and shake to people to nation music, blues and jazz. It served as a major component within the improvement of electric blues, shake and roll, shake music, overwhelming metal music and many other classes of music. Electric guitar design and construction shifts greatly within the shape of the body and the configuration of the neck, bridge, and pickups. Guitars may have a settled bridge or a spring-loaded pivoted bridge, which lets players "twist" the pitch of notes or chords up or down, or perform vibrato impacts. The sound of an electric guitar can be adjusted by new playing methods such as string bowing, tapping, and hammering-on, utilizing audio feedback, or slide guitar playing. 

Electric Guitar Market Trend Analysis

Increasing Popularity of Music Genres

• The expanding popularity of music genres such as rock, metal, and indie significantly fuels the request for electric guitars, as these sorts intensely depend on the unmistakable sounds that electric guitars deliver. Shake and metal music, with their effective riffs and solos, regularly position the electric guitar at the bleeding edge of their compositions, making it a quintessential component of the genre's personality. Additionally, indie music, known for its assorted and exploratory sounds, as often as possible joins electric guitars to make one-of-a-kind sound-related encounters.
• The noticeable quality of electric guitars in these sorts makes them irreplaceable instruments for both trying and proficient performers. Besides, the impact of notorious artists and groups plays a pivotal part in driving intrigued and request for electric guitars. Legends such as Jimi Hendrix, Eric Clapton, and modern specialists like John Mayer and Jack White have cleared out permanent marks on the music world with their electric guitar ability. Their virtuosity and particular styles rouse modern eras of players to choose up the instrument, pointing to imitate their heroes. These artists not as it were set patterns but too regularly underwrite particular brands and models of electric guitars, encourage boosting their request. As these sorts proceed to flourish and advance, they guarantee that the electric guitar remains a crucial and profoundly sought-after instrument within the music industry.

Opportunities

Custom and Personalized Instruments

• The drift towards custom and personalized instruments has become a critical driver within the electric guitar market, because it offers buyers the opportunity to plan guitars that adjust with their individual preferences and playing styles. By giving choices for customization, such as selecting particular types of wood, finishes, hardware, and electronics, manufacturers empower artists to make instruments that are uniquely theirs.
• This level of personalization not as it were improving the by and large playing encounter but too cultivates a more profound association between the performer and their instrument. It addresses the crave for uniqueness and self-expression, which is particularly vital in an imaginative field like music. Moreover, the growing demand for customized instruments has driven to the development of niche markets and premium item sections. High-end guitar producers and boutique luthiers are flourishing by advertising bespoke administrations that cater to perceiving clients who are willing to contribute in a one-of-a-kind guitar.
• These custom instruments often highlight superior craftsmanship, elite materials, and custom fitted details, situating them as luxury things inside the market. This slant not as it were drives higher benefit margins but too fortifies brand loyalty and client maintenance, as satisfied clients are likely to return for future buys and prescribe the brand to others. In a market where individual expression and quality are profoundly valued, the capacity to offer custom and personalized electric guitars gives a significant competitive edge.

Market Segment Analysis:

Market Segmented based on Product Type, Pricing, by Distribution, by End User and region.

By Product Type, Solid Body Guitar Is Expected to Dominate the Market During the Forecast Period 2024-2032

By Product Type segmented in Electric Acoustic Guitar, Seven String Guitar, Solid Body Guitar, Hollow Body Guitars, Others

• Solid body guitars dominate the electric guitar market due to their unmatched versatility and popularity over a wide array of music sorts, including shake, metal, pop, blues, and jazz. Their plan empowers them to create a wide range of tones, making them versatile to different melodic styles. Iconic models just like the Fender Stratocaster and Gibson Les Paul have not as it were formed the sound of modern music but have moreover become cultural images, habitually seen within the hands of amazing and modern performers. This widespread acknowledgment reinforces their status and allure. Also, the solid body development of these guitars upgrades their strength and reliability, lessening vulnerability to input and guaranteeing steady execution in different situations, especially in live and high-volume settings. This strength, combined with resistance to temperature and humidity changes, makes solid body guitars less demanding to preserve and more dependable over time.
• Technological advancements also play a pivotal part within the dominance of solid body guitars. Developments in pickups, electronics, and equipment frequently make a big appearance in these models, with highlights like dynamic pickups, progressed tuning frameworks, and ergonomic plans improving playability and sound quality. The ease of consolidating modern innovation, such as advanced impacts and network options, encourage increments their offer to modern performers looking for cutting-edge execution capabilities. Besides, solid body guitars are accessible in a wide run of models and cost focuses, from reasonable apprentice rebellious to high-end custom plans. This broad run guarantees openness for all levels of players, from novices to experts, permitting producers to cater to a wide and different audience. These components collectively set the overwhelming position of solid body guitars within the electric guitar market.

By Distribution Channel, Offline Stores held the largest share

By Distribution Channel segmented as Online Stores, Offline Stores

• The dominance of offline stores within the electric guitar market is fuelled by a few key variables that collectively upgrade the shopping encounter for consumers worldwide. The hands-on encounter and personalized benefit given by offline specialty stores are priceless angles of the electric guitar buying process. For performers, being able to physically attempt out distinctive electric guitars before making a buy is basic. This material involvement allows them to survey factors such as the instrument's weight, playability, and sound quality firsthand, guaranteeing that they discover a guitar that suits their preferences and playing style. Besides, the ability of staff in these stores is highly advantageous, especially for beginners who may feel overpowered by the wide run of alternatives accessible. Learned staff can give personalized recommendations, advice, and assistance, guiding customers in selecting the correct instrument for their needs and budget.
• Offline stores offer instant gratification and prompt accessibility of electric guitars, permitting customers to walk in, browse, and make a buy on the spot. This quick access to items is engaging to consumers who lean toward to require domestic their buy immediately instead of holding up for shipping. Moreover, clients can avoid potential shipping delays, harms amid transit, or uncertainties associated with online buys. Offline specialty stores too serve as important community center points for performers to put, through network, and lock in with the nearby music community. These stores often have events, workshops, or exhibitions, giving openings for artists to share encounters, collaborate, and learn from one another. The sense of camaraderie and having a place cultivated by offline stores contributes to customer loyalty and repeat business, as clients feel a stronger association to the store and its staff.
• Offline stores regularly offer comprehensive after-sales back and services, counting instrument setup, support, repairs, and updates. Clients esteem the comfort of having these services available locally and the assurance that their disobedient will be well taken care of by learned technicians. This level of bolster improves the by and large customer experience and instills trust and confidence within the store and its items.

Market Regional Insights:

Asia Pacific Region is Expected to Dominate the Market Over the Forecast Period

• The Asia-Pacific region has emerged as a dominant force within the electric guitar market, fundamentally due to its status as a manufacturing powerhouse. Countries such as Japan and South Korea have set up themselves as major centers for electric guitar production, hosting significant offices for famous brands like Ibanez, Yamaha, ESP Guitars, and Cort. This manufacturing ability enables them to create high-quality rebellious at competitive costs, driving their popularity among artists worldwide.
• In addition, Asian companies have illustrated surprising innovation and flexibility in reaction to market patterns. They ceaselessly present modern highlights and plans, offering a wide run of models that cater to assorted musical styles and inclinations. By consolidating present day generation strategies, such as progressed automation and accuracy building, these companies upgrade proficiency and keep up exacting quality standards, further solidifying their position within the market. The Asia-Pacific region also benefits from the rise of developing markets, especially in countries like China and India.
• As music consumption develops in these districts, so does the request for electric guitars. Local brands, such as Squier (a subsidiary of Fender) and Vintage (an Indian brand), are picking up critical traction, contributing to the region's dominance. This combination of manufacturing ability, innovation, and the extension of developing markets positions Asia-Pacific as a powerhouse within the worldwide electric guitar industry, forming its direction for years to come.
• Gibson holds the largest share at 34%, followed by Fender at 30%. Ibanez, Yamaha, Epiphone, and other brands make up the rest of the market. According to NAMM, electric guitars are more popular than acoustic guitars, with a market share of 60% to 40%.

Market Top Key Players:

The top key companies in the Electric Guitar Market are:

• Fender (USA)
• Gibson (USA)
• PRS Guitars (USA)
• Gretsch (USA)
• Ernie Ball Music Man (USA)
• Yamaha (Japan)
• ESP Guitars (Japan)
• Ibanez (Japan)
• Cort (South Korea)
• Schecter (South Korea)
• Chapman Guitars (South Korea)
• Aria (Japan)
• LTD Guitars (Japan)
• Squier (China)
• Vintage (India)
• Jackson (USA)
• Charvel (USA)
• Rickenbacker (USA)
• Schecter (USA)
• ESP Guitars (USA/Japan)
• Ibanez (Japan)
• Music Man (USA)
• Warwick (Germany)
• Framus (Germany)
• Höfner (Germany)
• Yamaha (Japan)
• Cort (South Korea)
• Hagström (Sweden)
• Godin (Canada)
• Manson Guitar Works (UK) and Other Major Players.

Key Industry Developments in the Market:

• In Dec 2023, Reverb has been busy going over its stats for 2023 in recent weeks, sharing the best-selling guitars and best-selling pedals to have appeared on the music-making platform. Now it’s unveiled this year’s most popular guitar amps – and the data tells us a lot about the changing landscape among players.
•  In April 2023, Ibanez Just Unveiled a Bunch of New Signature Guitar Models for Renowned Musicians. In typical Ibanez style, the company has started its NAMM season by introducing its 2023 collection of signature guitars, featuring enhanced, updated, and limited-edition electric guitars from six of its exceptional artists. Among the limited-edition offerings, Steve Vai, Joe Satriani, and Paul Stanley have been presented with new models. The PS10 six-string, owned by Paul Stanley for 45 years, is commemorated with a celebratory anniversary model, the PS3CM.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. ELECTRIC GUITAR MARKET BY PRODUCT TYPE (2017-2030)
   1. ELECTRIC GUITAR MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SOLID BODY GUITAR
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. ELECTRIC ACOUSTIC GUITAR
   5. SEVEN STRING GUITAR
   6. SOLID BODY GUITAR
   7. HOLLOW BODY GUITARS
7. ELECTRIC GUITAR MARKET BY PRICING (2017-2030)
   1. ELECTRIC GUITAR MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. LOW
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. MEDIUM
   5. HIGH
8. ELECTRIC GUITAR MARKET BY DISTRIBUTION (2017-2030)
   1. ELECTRIC GUITAR MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. ONLINE STORES
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. OFFLINE STORES
9. ELECTRIC GUITAR MARKET BY END USER (2017-2030)
   1. ELECTRIC GUITAR MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. PROFESSIONALS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. LEARNERS
   5. INDIVIDUAL AMATEURS
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Benchmarking
       2. ELECTRIC GUITAR Market Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. FENDER (USA)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. GIBSON (USA)
    4. PRS GUITARS (USA)
    5. GRETSCH (USA)
    6. ERNIE BALL MUSIC MAN (USA)
    7. YAMAHA (JAPAN)
    8. ESP GUITARS (JAPAN)
    9. IBANEZ (JAPAN)
    10. CORT (SOUTH KOREA)
    11. SCHECTER (SOUTH KOREA)
    12. CHAPMAN GUITARS (SOUTH KOREA)
    13. ARIA (JAPAN)
    14. LTD GUITARS (JAPAN)
    15. SQUIER (CHINA)
    16. VINTAGE (INDIA)
    17. JACKSON (USA)
    18. CHARVEL (USA)
    19. RICKENBACKER (USA)
    20. SCHECTER (USA)
    21. ESP GUITARS (USA/JAPAN)
    22. IBANEZ (JAPAN)
    23. MUSIC MAN (USA)
    24. WARWICK (GERMANY)
    25. FRAMUS (GERMANY)
    26. HÖFNER (GERMANY)
    27. YAMAHA (JAPAN)
    28. CORT (SOUTH KOREA)
    29. HAGSTRÖM (SWEDEN)
    30. GODIN (CANADA)
    31. MANSON GUITAR WORKS (UK)
11. GLOBAL ELECTRIC GUITAR MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Product Type
       4. Historic And Forecasted Market Size By Pricing
       5. Historic And Forecasted Market Size By Distribution
       6. Historic And Forecasted Market Size By End User
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies