Market Insights Consumer Toys & Hobby Musical Instruments

Percussion Instruments - Norway

Norway

in Norway, a country known for its rich musical heritage, is also a part of the global Percussion Instruments market.
In 2024, the revenue in this market segment amounted to US$3m.
Looking towards the future, the market is projected to experience an annual growth rate of -3.10% from 2024 to 2028 (CAGR 2024-2028).
When comparing global figures, it is noteworthy that in China generates the highest revenue in the Percussion Instruments market, with a staggering US$379m in 2024.
This highlights in China's dominant position in the industry.
To gain a better understanding of the market's impact on individuals, it is important to consider the per person revenues.
In 2024, the per person revenue amounted to US$0.49.
This figure provides insight into the average contribution of each person towards the overall revenue generated in the Percussion Instruments market.
Norway's strong traditional folk music culture has led to a surge in demand for traditional Norwegian percussion instruments.

Key regions: United States, Germany, Worldwide, United Kingdom, Asia

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.