Musical Instruments Report 2020

Statista Consumer Market Outlook - Segment Report

Musical Instruments Report 2020 Music, which is an organized melodical conjugation of sounds, is a universal language that appeals to many. The Musical Instruments segment includes various acoustic and electronic or electromechanical musical instruments. In 2023, the segment is forecast to increase to US$41 billion, from approximately US$33 billion in 2019.

What's included?
  • Segment Overview Musical Instruments
  • Market KPI comparison: Revenue and growth rate
  • Regional comparison, including revenue per capita


The global musical instruments industry is heavily influenced by different cultural tastes in music. The Musical Instruments segment is comprised of musical instruments such as string, wind, electronic and electromechanical musical instruments. Overall, the segment is driven by technological innovations and an increase in online retail. Yamaha Corporation is one of the biggest players in the musical instruments industry.

The Musical Instruments segment is the smallest segment of the Toys and Hobby market. Worldwide revenue accruing from this segment is forecast to increase by approximately US$8 billion between 2019 and 2023.

  • Language: English
  • Released: January 2021
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