The North America Electric Guitars Market would witness market growth of 5.9% CAGR during the forecast period (2021-2027).
Primary and secondary schools are focusing on music education programmes and making their curriculum policies more music-friendly. Various studies suggest that active participation in music by young people improves their learning skills, overall creativity, intellectual growth, and so on. Music, according to the National Association for Music Education (NAfME), aids in the development of spatial intelligence and reasoning skills. These factors are anticipated to increase product sales of electric guitars in the next years.
Electric guitars are commonly employed in metal and rock music. The prominence of these genres has grown, and they are now one of the primary drivers of the electric guitar market. There is a change in lifestyle, a rise in disposable income, and a high level of living, which have motivated consumers to expend more on leisure activities. Another factor driving market is an increase in the number of musical bands throughout the world.
Since rock music has been emerged in this region, the popularity of various electric and rock instruments is comparatively higher across this region. Rock music can be defined as hard-edged music performed with electric guitars, bass, and drums and frequently accompanied with lyrics sung by a vocalist, though people may disagree on the details. That may appear straightforward, but a closer examination of rock's origins reveals how various genres and influences have influenced its progression over time.
The US market dominated the North America Electric Guitars Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,008.9 million by 2027. The Canada market is expected to witness a CAGR of 8.3% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 7.3% during (2021 - 2027).
Based on Distribution Channel, the market is segmented into Offline Channels and Online Channels. Based on Product, the market is segmented into Solid-body, Semi-hollow Body, and Hollow-body. Based on Type, the market is segmented into Lead/Rhythm and Bass. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Electric Guitars Market is Estimated to reach $5.1 Billion by 2027, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Gibson Brands, Inc (Epiphone), Fender Musical Instruments Corporation, Karl Hofner GmbH & Co. KG, Ibanez guitars, Cort Guitars, Michael Kelly Guitar Co., Yamaha Corporation (Menchey Music Service, Inc.), and The ESP Guitar Company.
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