Global Electric Guitar Market Dynamics, Application Share, Growth, Vendor Competition, Trends and Forecast 2021-2031

The size of the worldwide electric guitar market was estimated at USD 557.26 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.77% to reach USD 695.68 million by 2031.

Electric guitars are guitars that capture the vibrations caused due to strumming of strings magnify it electronically and produce a louder output. Sounds from electric guitars can be electrically modified owing to the presence of electrical representation of the vibrations by the electric guitars. With the help of pedals and electric guitars they can be easily modulated. This is the main difference between an electric guitar and acoustic guitar. Sound produced by acoustic guitars come directly from the vibrations of the strings and hence can’t be modulated. Electric guitars are widely used in Jazz, Vietnamese traditional music, contemporary classical music forms.

Electric guitar market trends indicate growth owing to the growing interest in music across the global population. Electric guitars are important in all the popular genres of music, viz. rock, metal and similar others. Owing to the fast growing popularity of these music genres, there has been an increase number of people deciding to learn and take this as a career opportunity. Electric guitar market trends indicate market dominance based on the company of guitar being used. Often bands/musicians are recognized with the brand of equipment used.

The electric guitar market share is also growing to the increased lifestyle changes happening across the globe. With increased urbanization and awareness in developing countries people use more of guitars in various occasions. The increased spending power of the people is one of the main factors driving the growth in electric guitar market share. Additionally, growing popularity of rock music among the younger generation is also influencing the market growth.

Use of amplifiers by electric guitars as opposed to normal ones, makes it expensive hobby for the amateurs and new users. Owing to this the acoustic guitars, which are cost effective, are preferred by many. However, with electric guitars it is possible to experience advanced guitar techniques as they have soft strings and no frets.

The global electric guitar market size is segmented based on tailpiece, type, neck shapes and region. Segmentation on the basis of tailpiece system is vibrato arms, string-through body, hard tail and floating tailpiece. Segmentation on type is done as hollow body guitars, solid body guitar, electric acoustic guitar, the seven string guitar, chambered bodies guitar, semi-acoustic guitar, and the twelve string electric guitar.

The global electric guitar market size is further segmented on the basis on neck shapes as C necks, U necks and V necks. For Rock bands and similar other bands two types of guitars are used, rhythm and lead guitar. Segmentation based on region is done as North America, Europe, South America and Middle East and Africa.

Some of the leading names in the electric guitar market share are Fender, Gibson, Yamaha, Ibanez, ESP, CORT, Epiphone and many others.

Electric Guitar Market Scope

Key segments of the global  Electric Guitar market

by Distribution Channel (USD Million)
                    •  Offline
                    •  Online
Regional Overview (USD Million)
        •    North America
                o    U.S.
                o    Canada
                o    Mexico
        •    Europe
                o    UK
                o    Italy
                o    France
                o    Germany
                o    Russia
                o    Rest of Europe
        •    Asia-Pacific
                o    China
                o    Japan
                o    Korea
                o    India
                o    Southeast Asia
                o    Rest of Asia-Pacific
        •    Middle East & Africa
                o    Saudi Arabia
                o    UAE
                o    Egypt
                o    Nigeria
                o    South Africa
                o    Rest of Middle East & Africa
        •    Central & South America
                o    Brazil
                o    Argentina
                o    Colombia
                o    Rest of South America