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Electric Guitar Market size is set to grow by USD 1.45 billion from 2024-2028, Growing demand for music-related leisure activities to boost the market growth, Technavio

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NEW YORK, July 3, 2024 /PRNewswire/ — The global electric guitar market size is estimated to grow by USD 1.45 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.43% during the forecast period. Growing demand for music-related leisure activities is driving market growth, with a trend towards growing online retailing. However, increasing adoption of virtual musical instruments and music production software poses a challenge. Key market players include CorTek Corp., Dean Guitars, Farida, Fender Musical Instruments Corp., Fernandes Co. Ltd., Fujigen Inc., Gibson Brands Inc., Heritage Guitar Inc., HOSHINO GAKKI Co. Ltd., JAM Industries USA LLC, Karl Hofner GmbH and Co. KG, Paul Reed Smith Guitars, Peavey Electronics Corp., Rickenbacker International Corp., Samson Technologies Corp., Schecter Guitar Research Inc., Taylor Listug Inc., The ESP Guitar Co., Tokai Gakki Co.Ltd., and Yamaha Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Solid-body, Semi-hollow body, Hollow body, and Accessories), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

CorTek Corp., Dean Guitars, Farida, Fender Musical Instruments Corp., Fernandes Co. Ltd., Fujigen Inc., Gibson Brands Inc., Heritage Guitar Inc., HOSHINO GAKKI Co. Ltd., JAM Industries USA LLC, Karl Hofner GmbH and Co. KG, Paul Reed Smith Guitars, Peavey Electronics Corp., Rickenbacker International Corp., Samson Technologies Corp., Schecter Guitar Research Inc., Taylor Listug Inc., The ESP Guitar Co., Tokai Gakki Co.Ltd., and Yamaha Corp.

Key Market Trends Fueling Growth

The global electric guitar market has experienced notable growth due to the expansion of online retailing. This trend is driven by increased product visibility, cost savings on inventory management, and wider customer reach. Online retailing’s share in the market may be small, but it is projected to grow faster than traditional retailing. Factors such as Internet penetration, mobile device usage, and consumer awareness are fueling this growth. Online retailers like Amazon offer secure transactions, multiple payment options, easy returns, and efficient customer service, making it convenient for consumers to purchase electric guitars from anywhere in the world with doorstep delivery. 

The musical instruments market, specifically the electric guitar sector, has seen significant growth in recent years. Live concerts, music education, and online music platforms have driven demand for electric guitars. Musicians and hobbyists seek high-quality sound and versatility in their instruments. Companies focus on producing innovative designs, improved technology, and customizable features to cater to this market. Solid body and semi-hollow electric guitars are popular choices due to their durability and sound quality. Digital technology has also influenced the market, with the introduction of modeled amplifier tones and virtual effects. The online music marketplace has made it easier for musicians to access and purchase electric guitars from various brands and manufacturers. Overall, the electric guitar market is thriving, with a strong focus on delivering superior sound and functionality to musicians and enthusiasts alike. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The electric guitar market faces significant challenges due to the increasing popularity of virtual musical instruments and music production software. Developed economies, including the US and Germany, have seen a rise in the adoption of these digital tools. Music production software offers mobility and convenience, enabling composers to record music anytime, anywhere. Laptop manufacturers, such as Apple Inc, support popular software like GarageBand, expanding its accessibility. The proliferation of mobile devices and high-speed Internet connectivity further fuels this trend, posing a major challenge for the electric guitar market.The electric guitar market faces several challenges. One major challenge is the increasing competition from other musical instruments and digital alternatives. Another challenge is the changing preferences of consumers, who now seek innovative features and designs. Older models of electric guitars may not meet these demands. Additionally, the cost of production and import duties can impact profitability. Furthermore, the market is fragmented with numerous players, making it difficult for new entrants to gain a foothold. Lastly, the global economic situation and consumer spending patterns can significantly affect sales. To stay competitive, companies must focus on product innovation, cost efficiency, and effective marketing strategies.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This electric guitar market report extensively covers market segmentation by

Product 1.1 Solid-body1.2 Semi-hollow body1.3 Hollow body1.4 AccessoriesDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Solid-body- The electric guitar market experiences consistent growth due to its popularity among musicians and music enthusiasts. Companies manufacture and sell various models, catering to different skill levels and preferences. Retailers distribute these guitars through both physical stores and online platforms, ensuring accessibility for customers worldwide. The industry’s success relies on continuous innovation, providing high-quality instruments and affordable prices.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The electric guitar market caters to the adolescent population’s growing interest in music, particularly genres like metal and rock. With the rise of internet penetration, online retail platforms have become a popular avenue for purchasing musical instruments, including electric guitars. School curricula and music education programs increasingly incorporate music instruction, enabling students to learn and experiment with various musical instruments, including the electric guitar. Live concerts and music festivals continue to be a significant source of inspiration for aspiring musicians. The popularity of these genres has led to an increase in demand for electric guitars. Leisure activities such as video conferencing, instant messaging, and file sharing have also facilitated the growth of online performances, providing a platform for musicians to showcase their skills and reach wider audiences. Cloud technology and online performances have further expanded the market for electric guitars, allowing musicians to collaborate and create music from anywhere in the world. The electric guitar market is poised for continued growth as music remains a universal language that transcends borders and generations.

Market Research Overview

The Electric Guitar Market encompasses a wide range of instruments, each offering unique features and sounds. Live concerts and music programs frequently utilize electric guitars due to their versatility and powerful tones. Musicians often choose from various types, including solid body and semi-hollow models, based on their preferred genre and playing style. Solid bodies provide a bright and clear sound, while semi-hollow guitars offer a warmer and more resonant tone. Musicians also consider factors like pickups, bridges, and controls when selecting an electric guitar. Accessories such as amplifiers, cables, and effects pedals further enhance the playing experience. The market for electric guitars continues to grow, driven by the increasing popularity of music and the continuous innovation in guitar technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSolid-bodySemi-hollow BodyHollow BodyAccessoriesDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

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NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

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SOURCE Education Cannot Wait

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Niutech at the Forefront: U.S.-China Circular Economy Forum Tackles “White Pollution”

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BEIJING, Sept. 20, 2024 /PRNewswire/ — On September 6, 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from the National Development and Reform Commission of China, the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, the General Administration of Market Regulation, the US State Department, the US Department of Energy and other government departments, as well as industry experts, business representatives and scientific research institutions of the two countries. As the domestic leader in continuous pyrolysis technology, Niutech was invited by the China Circular Economy Association to attend the forum and gave an insightful speech on the topic of waste plastic recycling, and the issues of ‘white pollution’ that can result from it.

Enhancing Quality and Efficiency in the Circular Economy with Innovative Forces

The forum was strategically designed to advance the goals outlined in the U.S.-China “The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis” (hereinafter referred to as the Sunnylands Statement). It aimed to create a collaborative platform for the business community, social organizations, and research institutions from both countries to foster exchanges and drive tangible cooperation in the circular economy.  

Zhao Chenxin, Deputy Director of the National Development and Reform Commission, John Podesta, Senior Advisor to the U.S. President on International Climate Policy, Liu Zhenmin, China’s Special Envoy for Climate Change Affairs, Nicholas Burns, U.S. Ambassador to China, and Xie Zhenhua, former Special Envoy for Climate Change Affairs of China, attended the opening ceremony of the Forum and delivered a speech, and Xie Feng, Chinese Ambassador to the U.S., made a video message. Deputy Director Zhao Chenxin said that addressing climate change is a common cause for all mankind and cannot be separated from the cooperation between the two global forces, China and the United States.

The China-US Circular Economy Cooperation Forum, held as an initiative to implement the Sunnylands Statement, marked another significant milestone in China-US cooperation on the circular economy. This collaboration is crucial for both nations as they join forces to tackle the climate crisis. On the afternoon of September 6, the forum organized four parallel meetings, where representatives engaged in in-depth exchanges on topics such as using the recycling economy to reduce greenhouse gas emissions, promoting the application of recycled materials, addressing plastic pollution and enhancing recycling, and increasing the recycling value of waste in the context of new industries and consumption patterns.

Niutech: International Experts on Continuous Pyrolysis Technology and Pioneers in solving the global “white pollution” problem

Globally, hundreds of millions of tons of waste plastics are generated annually, yet only about 30% undergo recycling. Traditional physical methods are typically limited to high-value, single-category, and relatively clean waste plastics. However, repeated recycling can degrade the quality of the plastics. Chemical recycling, on the other hand, offers a transformative approach by converting waste plastics into high-value products or fuels through chemical processes, thus overcoming the limitations of physical recycling.

Pyrolysis technology, a cornerstone of chemical recycling, addresses the challenges associated with the material recycling of waste plastics. It is adept at processing various types of low-value, mixed, and contaminated waste plastics. The products of pyrolysis can be further processed to manufacture new plastics, achieving a closed-loop system where waste plastics are repurposed into high-value new plastics. This not only retains the material’s utility at a high level but also converts “white pollution” into a “white oil field,” signifying a major shift in the management and valorization of plastic waste.

At the forum, as the international expert in continuous pyrolysis technology, the corporate representative of Niutech shared the cases of waste plastic chemical recycling projects deployed with international giants BASF and Quantafuel in Denmark, Thailand and other countries. Niutech has developed its own pyrolysis technology and equipment, which they fully own the intellectual property rights to. This technology enables the transformation of low-value, mixed, and contaminated waste plastics—including various polymers such as PP, PE, PS, ABS—into high-quality fuel oil.  

The fuel oil derived from this process can undergo further refining into naphtha, a critical raw material in the production of new plastics. This advanced recycling process not only diverts plastics from landfills and the environment but also contributes to a circular economy by turning waste into a valuable resource.

In the future, Niutech will continue to champion the principle of “green, recycling and low-carbon” waste plastics pyrolysis. Armed with advanced technology, reliable equipment, abundant high-value solutions and proven experience, Niutech is committed to enhancing communication and cooperation with domestic and foreign partners. Together, they will drive forward the chemical recycling of waste plastics and the sustainable development of the global waste plastics recycling industry.

 

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SOURCE Niutech

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Global Ultrasound Institute Launches GUSI Fellowships Platform: Elevating Point-of-Care Ultrasound Education

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SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — The Global Ultrasound Institute (GUSI) is proud to announce the launch of the GUSI Fellowships Platform, an innovative online platform designed to empower learners around the world to achieve confidence and competency in point-of-care ultrasound (POCUS). With a holistic, device-independent approach that includes comprehensive evidence-based education, personalized mentorship from world-class POCUS educators, detailed scan review feedback, quantitative assessments, and CME certification, GUSI is setting a new standard in POCUS education.

“GUSI’s online didactics are the best that I have seen. And what I like most about the fellowship were the 1:1 sessions and being able to interact with GUSI expert faculty who have many years of experience in POCUS. And you get to pick their brains and they get to instruct you 1:1. I have used the training I received from GUSI to do much more POCUS clinically and further impact my patients lives.”

Dr. James Wilcox,
Assistant POCUS Director, Indiana University School of Medicine
Adjunct Professor and Assistant Professor of Medicine

“Our mission at GUSI is to democratize access to high-quality ultrasound training,” said Dr. Kevin Bergman and Dr. Mena Ramos, Co-CEOs of Global Ultrasound Institute. “The GUSI Fellowships Platform enables learners from diverse backgrounds to enhance their skills in a supportive, flexible environment, making it easier than ever to reach their POCUS goals.”

With training options covering 38 different scan types, learners can expect personalized 1:1 mentorship with expert POCUS educators who provide timely feedback on practice scans.

“The GUSI fellowship mentors are the best: patient, kind, knowledgeable, experienced, and supportive. GUSI provided education in the areas I wanted and needed to obtain and in my home/office environment not requiring multiple trips around the country. It is not just the way course work is presented – learning is made easier by the support provided to each student.”

Dr. Glenda Patterson
Core Faculty, University of Arkansas Northwest Internal Medicine Residency
Physician, Veterans Health Care of the Ozarks
Board-certified in Internal Medicine, Pulmonary Medicine, and Critical Care Medicine

The GUSI Fellowships Platform features a scalable software system designed to monitor and track performance, ensuring learners can effectively measure their progress.

GUSI understands the challenges faced by healthcare professionals seeking to enhance their ultrasound skills amid demanding schedules. GUSI addresses these concerns with flexible scheduling options, allowing learners to progress at their own pace while balancing their professional and personal commitments. This adaptability and virtual experience is crucial for fostering a culture of continuous learning and skill development.

“I went from not being able to hold the probe to someone who can scan and diagnosing and finding pathologies. I worked with Dr. Milne-Price and she was amazing! She sharpened my skills and we did sessions of live scanning over Zoom. I feel confident in my skills now to scan on my own.”

Dr. Dalea Al-Hawarri
Faculty, Bryn Mawr Family Medicine Residency

As healthcare continues to evolve, the demand for proficient ultrasound practitioners has never been greater. GUSI is not only committed to providing exceptional education but also aims to inspire a new generation of healthcare professionals who can leverage POCUS to improve patient outcomes globally. Join us in this exciting journey towards excellence in ultrasound practice.

For more information on GUSI Fellowships and to start your journey toward ultrasound proficiency, visit https://globalultrasoundinstitute.com/.

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

For more information about GUSI Fellowships or any of GUSI services, please visit https://globalultrasoundinstitute.com/

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

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