GITNUX MARKETDATA REPORT 2024

Must-Know Guitar Industry Statistics [Latest Report]

Statistic 1

"75% of guitar players have purchased musical instruments online."

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Statistic 2

"The average price of a high-quality electric guitar is approximately $1,500, as of 2021."

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Statistic 3

"Gibson Brands, Inc., another significant player in the industry, reported annual revenues exceeding $400 million."

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Statistic 4

"The demand for left-handed guitars makes up approximately 10% of the total guitar market."

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Statistic 5

"Approximately 2.7 million guitars were sold in the United States in 2020."

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Statistic 6

"The global guitar market size was valued at USD 10.55 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028."

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Statistic 7

"Over 50% of beginning guitar players quit within the first year, impacting sustained market growth."

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Statistic 8

"Adult beginners and retirees are the fastest-growing demographics among new guitar purchasers."

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Statistic 9

"The global guitar accessories market, including strings and picks, is valued at approximately $1 billion."

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Statistic 10

"In 2020, the total retail sales of guitars in the U.S. reached $1.3 billion."

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Statistic 11

"The average guitarist in the U.S. owns 4-6 guitars."

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Statistic 12

"The rise of guitar sales through social media platforms has contributed to a 20% increase in revenue for some music retailers."

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Statistic 13

"Guitar center, one of the largest music retailers, reported annual revenues of around $2.3 billion in 2020."

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Statistic 14

"The second-hand guitar market is estimated to be worth around $700 million annually."

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Statistic 15

"The acoustic guitar segment is expected to witness significant growth, with forecasts predicting a CAGR of 4.5% from 2021 to 2028."

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Statistic 16

"The electric guitar segment accounted for more than 50% of the total market share in 2020."

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Statistic 17

"Online channels have grown to account for 15% of all guitar sales as of 2020, driven by increased e-commerce adoption."

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Statistic 18

"North America held the largest share of the guitar market in 2020, accounting for over 30% of global sales."

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Statistic 19

"Fender Musical Instruments Corporation is one of the leading companies in the guitar industry, with an estimated annual revenue of over $500 million."

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Statistic 20

"The Asia-Pacific is projecting the fastest growth in the guitar market, expecting a CAGR of 5% from 2021 to 2028."

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