Electric Guitars Market Size, Share, Growth Analysis, By Product(Solid-body, Semi-hollow body), By Distribution Channel(Online, Offline) - Industry Forecast 2024-2031

Electric Guitars Market size was valued at USD 4.16 billion in 2021 and is poised to grow from USD 4.49 billion in 2022 to USD 7.62 billion by end of 2030, at a CAGR of 7.0 % during the forecast period (2023-2030).

The growing interest in music among millennials is anticipated to be a major market driver. Additionally, the demand for musical instruments like electric guitars is increased by the increase in live performances and commercialization of music festivals. Electric guitars are frequently used in metal and rock music. Rising genre popularity is one of the major factors affecting the market. The increase of musical bands around the world is another aspect influencing the market. Growth in the population of adolescents, that tends to engage in a lot of leisure activities, is seen in demographic patterns. The demand for musical instruments—especially electric guitars—has increased as a result.

The spread of the internet and technical development have made music instruction more accessible to students worldwide. The online music education market uses file sharing, videoconferencing, instant messaging, and digital whiteboards as its primary teaching tools. YouTube, digital sheet music, applications, and systems that use the cloud are just a few examples of the digital music tools that are revolutionizing the music education sector. The market for online music education is expected to grow as a result of the online video and audio creation & promotion industry's increased demand. Over the projected period, there is anticipated to be an increase in demand for online performances & virtual lessons to learn a new instrument. Customers have been inspired by this and driven to study an instrument, especially from the comfort of their homes.

US Electric Guitars Market is poised to grow at a sustainable CAGR for the next forecast year.