The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing interest in music are expected to drive innovation in electric guitars manufacturing, thus driving the market during the forecast period.

The global electric guitars market is expected to grow from $2.84 billion in 2022 to $3.04 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The electric guitars market size is expected to grow to $3.89 billion in 2027 at a CAGR of 6.4%.

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Global Electric Guitars Market Segments Include:

• By Type:Electric Acoustic Guitar, Seven String Guitar, Solid Body Guitar, Hollow Body Guitar, Other Types
• By Price:Low, Medium, High
• By Distribution Channel:Online, Offline
• By End-user:Professionals, Learners, Individual Amateurs
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global electric guitars market in 2021.

Major Market Players in the electric guitars market include Gibson Brands Inc., Fender Musical Instruments Corporation, Ibanez Guitars, Yamaha Corporation, Rickenbacker International Corp, Carvin Corporation.

Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the electric guitar market. Major companies operating in the electric guitars sector are focused on partnerships or collaboration to meet consumer demand and strengthen their position. For instance, in November 2021, ESP guitars, a Japan-based manufacturer of electric guitars, collaborated with Finally. This collaboration aimed to create a series of limited-edition digital assets based on the company’s Pyrography electric guitars. Finally, a US-based company specializes in producing and distributing non-fungible tokens (NFT) for the music, sports, and entertainment industries. Further, In October 2021, Fender, a US-based company that manufactures guitars, basses, amplifiers, and other related equipment, collaborated with a luxury car brand, Lexus. The objective of this collaboration was to create a unique electric guitar known as the LC Lexus Stratocaster. The Lexus LC Stratocaster would encapsulate Lexus’ desire for bold design and smart technology. Lexus is a Japan-based manufacturer of luxury cars.

The Electric Guitars Global Market Report 2023  provides a electric guitars market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The electric guitars market forecast analyzes electric guitars market size, electric guitars market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Electric guitars refer to a guitar with electric or magnetic pickups that allow the sound to be enhanced and broadcast through a loudspeaker. The electric guitar is a sound-producing instrument with a wooden body and steel strings. It converts the vibrations of its strings into electrical impulses, which are then reproduced as sound by loudspeakers, using one or more pickups.

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