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Piano Market: 37% of Growth to Originate from APAC, Market Driven by Inclusion of Music - Technavio

·14 min read

NEW YORK, July 22, 2022 /PRNewswire/ -- The global piano market size is expected to grow by USD 297.28 million from 2021 to 2026 at a CAGR of 2.33% as per the latest market report by Technavio. 37% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for pianos in APAC. Market growth in this region will be faster than the growth of the market in other regions. The implementation of integrated curricula by an increasing number of schools will facilitate the piano market growth in APAC over the forecast period.

Technavio has announced its latest market research report titled
Piano Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026
Technavio has announced its latest market research report titled Piano Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

For more highlights on the regional segment - Request a  sample now!

Read the 120-page report with TOC on "Piano Market Analysis Report by Product (Acoustic piano and Digital piano) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa), and the Segment Forecasts,2022-2026". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/piano-market-industry-analysis

Piano Market: Market Dynamics

Major Driver:

  • The key factor driving growth in the piano market is the inclusion of music in academic curricula. Extracurricular activities play a vital role in the lives of students. Students who participate in such activities meet new people, which improves their social skills and cultural understanding. Participation in extracurricular activities also enables students to acquire various essential life skills, such as multitasking, teamwork, time management, prioritization, problem-solving, analytical thinking, leadership, and public speaking. Several schools, colleges, and universities across the world, especially international schools, and colleges are including extracurricular activities and add-on courses, such as music, in their curricula.

Major Challenges:

  • The availability of music production software will be a major challenge for the piano market during the forecast period. Music production software is a direct substitute for different types of musical instruments, such as pianos. Such software has various options which enable users to compose music that is similar to the music produced by professional musicians. Music production software enables amateurs to produce music without training. Such software is versatile and offers a wide range of sounds. They also cost less than various types of musical instruments, such as pianos. The use of such software enables mobility and allows the recording of music in different environments.

To know more about the market dynamics - Grab a sample now!

Piano Market: Vendor Analysis

The piano market is fragmented and the vendors are deploying growth strategies such as focusing on building brand equity to differentiate themselves and compete in the market.

  • AUGUST FORSTER GmbH

  • C. Bechstein Pianoforte AG

  • Carl Sauter Pianofortemanufaktur GmbH and Co. KG

  • CASIO Computer Co. Ltd.

  • Fazioli Pianoforti spa

  • GROTRIAN PIANO COMPANY GmbH

  • Guangzhou Pearl River Piano Group Co. Ltd.

  • Julius Bluthner Pianofortefabrik GmbH

  • Kawai Musical Instruments Mfg. Co. Ltd.

  • KORG Inc.

  • Mason and Hamlin Piano Co.

  • PETROF Spol s.r.o.

  • Roland Corp.

  • Samick Music Corp.

  • SCHULZE POLLMANN PIANOFORTI SRL

  • Steingraeber and Sohne KG

  • Steinway Inc.

  • Stuart and Sons

  • Wilhelm Schimmel Pianofortefabrik GmbH

  • Yamaha Corp.

  • To know about the vendor offerings - Click Now!

Piano Market: Segmentation Analysis

Product Outlook (Revenue, USD mn, 2021-2026)

  • Acoustic piano - size and forecast 2021-2026

  • Digital piano - size and forecast 2021-2026

Geography Outlook (Revenue, USD mn, 2021-2026)

  • North America - size and forecast 2021-2026

  • Europe - size and forecast 2021-2026

  • APAC - size and forecast 2021-2026

  • South America - size and forecast 2021-2026

  • Middle East and Africa - size and forecast 2021-2026

To know about the market contribution of each segment - Grab an Exclusive Sample
Report

Get ready to achieve excellent business outcomes from this exclusive Piano Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -

  • What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?

  • What is the current trend taking place in the market space?

  • Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?

  • What are market drivers, restraints, and challenges impacting demand & growth of the market?

  • Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?

The competitive scenario provided in the Piano Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don't wait, Make a strategic approach & boost your business goals with our Piano Market Forecast Report -  Buy Now!

Related Reports:

  • The viola market share is expected to increase to USD 5.77 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.13%.

  • The electronic musical instruments market share is expected to increase by USD 505.09 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.09%.

Piano Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 2.33%

Market growth 2022-2026

USD 297.28 million

Market structure

Fragmented

YoY growth (%)

1.83

Regional analysis

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

Performing market contribution

APAC at 37%

Key consumer countries

US, Canada, Japan, China, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

AUGUST FORSTER GmbH, C. Bechstein Pianoforte AG, Carl Sauter Pianofortemanufaktur GmbH and Co. KG, CASIO Computer Co. Ltd., Fazioli Pianoforti spa, GROTRIAN PIANO COMPANY GmbH, Guangzhou Pearl River Piano Group Co. Ltd., Julius Bluthner Pianofortefabrik GmbH, Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., Mason and Hamlin Piano Co., PETROF Spol s.r.o., Roland Corp., Samick Music Corp., SCHULZE POLLMANN PIANOFORTI SRL, Steingraeber and Sohne KG, Steinway Inc., Stuart and Sons, Wilhelm Schimmel Pianofortefabrik GmbH, and Yamaha Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Product

  • 5.1 Market segments

  • 5.2 Comparison by Product

  • 5.3 Acoustic piano - Market size and forecast 2021-2026

  • 5.4 Digital piano - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Product

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 APAC - Market size and forecast 2021-2026

  • 7.6 South America - Market size and forecast 2021-2026

  • 7.7 Middle East and Africa - Market size and forecast 2021-2026

  • 7.8 US - Market size and forecast 2021-2026

  • 7.9 UK - Market size and forecast 2021-2026

  • 7.10 Canada - Market size and forecast 2021-2026

  • 7.11 Japan - Market size and forecast 2021-2026

  • 7.12 China - Market size and forecast 2021-2026

  • 7.13 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 C. Bechstein Pianoforte AG

  • 10.4 CASIO Computer Co. Ltd.

  • 10.5 Fazioli Pianoforti spa

  • 10.6 GROTRIAN PIANO COMPANY GmbH

  • 10.7 Kawai Musical Instruments Mfg. Co. Ltd.

  • 10.8 Mason and Hamlin Piano Co.

  • 10.9 SCHULZE POLLMANN PIANOFORTI SRL

  • 10.10 Steinway Inc.

  • 10.11 Wilhelm Schimmel Pianofortefabrik GmbH

  • 10.12 Yamaha Corp.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

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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Technavio (PRNewsfoto/Technavio)
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SOURCE Technavio