Overview and Scope
A piano is a musical instrument with a keyboard consisting of black and white keys that produce sound by striking strings with hammers when keys are pressed. Piano sales refer to commercial transactions involving the exchange of pianos. These transactions involve the sale of new or used pianos, often facilitated through musical instrument stores, online marketplaces, or specialized piano dealerships.
Sizing and Forecast
The piano sales market size has grown steadily in recent years. It will grow from $2.26 billion in 2023 to $2.32 billion in 2024 at a compound annual growth rate (CAGR) of 2.7%. The growth in the historic period can be attributed to economic conditions, demographic changes, education policies, lifestyle changes, and marketing and branding.
The piano sales market size is expected to see steady growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%. The growth in the forecast period can be attributed to psychological benefits, real estate trends, events and cultural celebrations, consumer preferences, and consumer preferences. Major trends in the forecast period include smart integration, compact designs, customization options, subscription models, and personalization.
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Segmentation & Regional Insights
The piano sales market covered in this report is segmented –
1) By Type: Grand Piano, Upright Piano
2) By Distribution Channel: Offline, Online
3) By Application: Performance, Learning And Teaching, Entertainment
Asia-Pacific was the largest region in the piano sale market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the piano sales market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing popularity of live performances is expected to propel the growth of the piano sales market going forward. Live performances refer to a demonstration, show, or entertainment event when musicians, artists, actors, or other performers interact live with the audience. The popularity of live performances is rising due to the increasing demand for authentic and immersive entertainment experiences in a digitally saturated world. Piano sales contribute to the quality and diversity of live performances by providing musicians with high-quality instruments tailored to their specific needs and preferences, enhancing the overall musical experience for both performers and audiences. For instance, in February 2024, according to Live Nation, a US-based live entertainment company, the company’s concert business generated revenues of $18.7 billion, up 39% year on year at constant currency, with attendance to concerts rising 20% and over 145 million fans attending over 50,000 events in 2023. Therefore, the growing popularity of live performances is driving the growth of the piano sales market.
Key Industry Players
Major companies operating in the piano sales market report are Kawai Musical Instruments Manufacturing Co Ltd.; Yamaha Corporation; Casio Computer Co Ltd; Sweetwater Sound Inc.; Roland Corporation; Steinway Musical Instruments; Thomann GmbH; Samick Musical Instruments Co Ltd; Petrof Piano a.s.; Guangzhou Pearl River Piano; Hailun Piano Co Ltd; Andertons Music Co; Long & McQuade Limited; C. Bechstein Pianoforte AG; Kraft Music Ltd; Baldwin Piano Inc; Mason And Hamlin Company; Nord Keyboards AB; Normans Musical Instruments Ltd; Allegro Music Ltd; Schimmel Pianos GmbH; Mendelssohn Piano (Shanghai) Co., Ltd; Korg Inc; Kurzweil Music Systems; Hyundai Development Company Young Chang
The piano sales market report table of contents includes:
1. Executive Summary
2. Piano Sales Market Characteristics
3. Piano Sales Market Trends And Strategies
4. Piano Sales Market – Macro Economic Scenario
5. Global Piano Sales Market Size and Growth
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31. Piano Sales Market Other Major And Innovative Companies
32. Global Piano Sales Market Competitive Benchmarking
33. Global Piano Sales Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Piano Sales Market
35. Piano Sales Market Future Outlook and Potential Analysis
36.Appendix
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