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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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Genesys Works Nashville Names Inaugural Corporate Partners, Calls on Local Employers to Invest in Future Talent

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National nonprofit kicks off Nashville expansion with founding partners AllianceBernstein, Barge Design Solutions, Gresham Smith, and Smith Seckman Reid, and is actively recruiting additional companies for internship seats

NASHVILLE, Tenn., June 18, 2026 /PRNewswire/ — Genesys Works, a national nonprofit that creates pathways to career success for high school students in underserved communities, today announced its inaugural corporate partners in Nashville: AllianceBernstein, Barge Design Solutions, Gresham Smith, and Smith Seckman Reid, Inc. (SSR). The four founding partners span the financial services and the architecture, engineering, and construction (AEC) sectors, which are facing talent shortages and an urgent need to introduce young people to these career pathways earlier.

Together, these companies will host Genesys Works Nashville’s first cohort of interns — high school seniors who will begin paid, yearlong internships in August 2026 after completing eight weeks of technical and professional skills training this summer.

The organization is actively recruiting additional Nashville-area employers to reach its goal of placing 25 students in paid internships during the 2026–2027 school year. Companies interested in joining the inaugural class can host interns in entry-level roles across IT, operations, HR, marketing, and finance, with Genesys Works serving as the employer of record and handling logistics, training, and ongoing support.

“Nashville’s employer community has shown up in a big way for our first cohort, and these founding partners are setting the standard for what’s possible when companies invest in local talent,” said Dr. Darren Kennedy, Executive Director of Genesys Works Nashville. “We’re inviting more companies to join us and benefit from our interns’ valuable contributions to their teams, doing real work that has real impact.”

“At AllianceBernstein, we believe deeply in the value of investing in our local, emerging talent,” said Karl Sprules, Chief Operating Officer at AllianceBernstein. “Partnerships like this help individuals uncover their strengths and accelerate their career paths, while enabling employers to build stronger talent pipelines. This ultimately strengthens Nashville’s workforce – both now and in the future.”

“Investing in career awareness and workforce development is vital for our communities,” said Carrie Stokes, PE, CEO and President at Barge Design Solutions. “The AEC industry plays a critical role in shaping the places where people live, work, and connect, and we need the next generation to understand both the opportunity and responsibility that comes with that work. Our partnership with Genesys Works allows us to engage students early to build understanding, interest, and a stronger pipeline of future professionals.”

“For many young people it’s not a matter of ability or desire, but they just need to be exposed to what exciting career opportunities are available,” said Rodney Chester, CEO and Board Chair at Gresham Smith. “At Gresham Smith, we believe investing in the communities where we work and live includes investing in future professionals while they are still in high school. There is a growing need for more architects and engineers in our industry, and one way to help close that gap is by introducing students to these career paths earlier. Creating healthy, thriving communities starts with creating meaningful opportunities for the people within them.”

Susan Osterberg, CEO and President of Smith Seckman Reid, said the partnership advances both the firm’s talent strategy and its broader commitment to the profession. “We’re excited to partner with Genesys Works because it allows us to introduce students to the design and engineering profession at an early and influential stage. By welcoming Genesys Works students into SSR, we’re helping them build technical, professional, and critical-thinking skills while also demystifying what a career in design and engineering can look like. The industry faces ongoing challenges related to workforce readiness and future capacity, and early exposure is key.”

Genesys Works has served more than 14,000 young professionals across eight cities. High school students earn their internships by completing 160 hours of technical and professional skills training, then work 20 hours per week throughout their senior year, providing employers with reliable, yearlong talent and continuity that traditional summer internships cannot match. As the employer of record, Genesys Works manages the internship program from end to end, including student training, recruitment and screening, onboarding, payroll administration, supervisor training, and ongoing coaching for interns and supervisors, helping employers build talent pipelines while reducing the administrative burden of managing an internship program.

How to get involved

Genesys Works Nashville is recruiting employer partners now to host interns beginning in August 2026. Companies interested in participating in the inaugural class can contact nashville@genesysworks.org or visit genesysworks.org/locations/nashville.

About Genesys Works

Genesys Works provides pathways to career success for high school students in underserved communities. Our program consists of 8 weeks of technical and professional skills training, paid year-long corporate internships, college and career coaching, and long-term alumni support to move individuals out of economic inequality and into professional careers. Founded in 2002, Genesys Works now serves thousands of students annually in Chicago, Houston, Jacksonville, Minneapolis/St. Paul, Nashville, New York City, the San Francisco Bay Area, Tulsa, and Washington’s National Capital Region. To learn more, visit genesysworks.org.

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SOURCE Genesys Works

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Moeris Expands into the Southeast with Acquisition of Stay Safe Traffic Control

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DENVER, June 18, 2026 /PRNewswire/ — Moeris, a national roadway safety and traffic control organization, today announced the acquisition of Stay Safe Traffic Control, a leading provider of work zone safety and traffic control services based in Raleigh, North Carolina.

The acquisition expands Moeris’ growing national platform in the Southeast region and reflects the company’s long-term strategy of disciplined geographic growth and operational optimization.

“Our goal is to build the nation’s leading traffic control and work zone safety platform through thoughtful expansion and an unwavering commitment to excellence,” said Tom Harper, CEO of Moeris. “Stay Safe Traffic Control has earned a strong reputation for safety, quality and reliability. This is a relationship-driven business, and we support local companies with shared resources, safety systems and operational expertise while preserving the brands and leadership teams that define their markets.”

Stay Safe Traffic Control selected Moeris as a partner to ensure continuity for employees and customers while positioning the business for continued growth. The partnership reflects a shared commitment to employee care, high safety standards and building on the company’s strong foundation.

Stay Safe Traffic Control will retain its name, locations, team and operating structure, and day-to-day operations will continue as usual. The company becomes the fourth operating business under the Moeris umbrella, joining Colorado Barricade, Pavement Surface Control and Richmond Traffic Control, which serve customers across the Rocky Mountain region, Pacific Northwest, Mid-Atlantic, and Southeast.

“We’ve built a reputation for delivering high-quality traffic control solutions with integrity,” said David Chamblee, owner of Stay Safe Traffic Control. “Partnering with Moeris gives us additional resources to invest in our people, expand our capabilities and continue serving our customers at the highest level, without changing who we are.”

“We are proud of the company we’ve built and the people who make it successful,” added David Chamblee. “Moeris shares our values around safety, service and caring for employees. This partnership positions Stay Safe Traffic Control for long-term growth while staying true to the culture and relationships that define our business.”

Founded in 2016, Stay Safe Traffic Control is a full-service provider of work zone traffic control products and services with locations in Garner and Angier, North Carolina. Its employees are ATSSA- and/or DOT-certified in work zone traffic control. For more information, visit staysafetrafficcontrol.com.

Moeris is a roadway safety and traffic control organization dedicated to protecting drivers, workers and communities during construction. Through its family of local operating companies, Moeris provides traffic control, barrier systems, pavement marking and sign installation services across infrastructure and heavy civil markets, while preserving local leadership and identity. For more information, visit moerisusa.com.

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SOURCE Moeris

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One-Third of Homeowners Surveyed Remain Open to Refinancing, Refi.com Reports

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With three-quarters of prospective refinancers holding rates above 5%, lower payments remain the primary trigger to act

COLUMBIA, Mo., June 18, 2026 /PRNewswire/ — One-third of homeowners say they are currently refinancing or likely to refinance within the next two years despite elevated mortgage rates, according to new data released today by Refi.com.

The findings are based on a nationwide survey of more than 1,000 homeowners conducted by Mortgage Research Center, LLC. (Refi.com is a brand of Mortgage Research Center, LLC).

“The popular narrative around refinancing has centered almost entirely on borrowers who locked in sub-3% rates during 2020 and 2021 and have no incentive to move,” said Kyle Bass, production business manager at Refi.com. “Those borrowers are real, but they are not the whole market. A significant share of today’s prospective refinancers bought or refinanced at 5.5% to 7% or higher and are actively evaluating their options.”

Many Homeowners Still Within Reach of Savings
Three-quarters of homeowners surveyed who are considering a refinance currently carry mortgage rates above 5%, while nearly half are above 6%. That means many borrowers are still within a range where even modest rate improvements could make refinancing financially meaningful if conditions shift.

More than half of those interested in refinancing are Gen Z or Millennials, reflecting homeowners who entered the market during a period of elevated rates. Most also report credit scores of 680 or higher, suggesting many are financially positioned to act when the timing improves.

When asked why they would refinance, a majority of homeowners surveyed pointed to lowering their monthly payment or interest rate. According to the survey, 62% cited a reduction in payments as their primary motivation, while 15% cited accessing home equity and 13% cited paying off other debt.

Confusion and Uncertainty Are Slowing Decisions
Beyond the current interest rate environment, many homeowners say uncertainty is holding them back. Respondents cited confusion about the process, uncertainty about qualification requirements and difficulty determining whether refinancing would actually save them money.

Fewer than half of homeowners surveyed said they feel very confident calculating the break-even point on a refinance.

“The break-even calculation is where many homeowners get stuck,” Bass said. “The math itself is simple, but translating it into a real decision is where the hesitation comes in. Once borrowers see it clearly, the path forward becomes much easier to evaluate.”

The survey findings also surface a gap between common misconceptions about refinancing and what homeowners actually prioritize when evaluating their options. About one-third of homeowners believe refinancing only makes sense when rates drop significantly, while roughly one in five believe at least 20% equity is required. Others associate cash-out refinancing primarily with financial distress.

In contrast, when evaluating a refinance, homeowners focus most on clear loan terms, lower interest rates, long-term savings, lower monthly payments and minimal closing costs.

The complete survey results can be viewed here: https://www.refi.com/learn/refinancer-mindset-data/

About Refi.com
Based in Columbia, Mo., Refi.com (NMLS ID #1907) is a digital marketplace that helps homeowners compare mortgage refinance options and home equity products from multiple lenders. The platform is designed to simplify the borrowing process and help consumers make more informed financial decisions about their home equity.

View original content to download multimedia:https://www.prnewswire.com/news-releases/one-third-of-homeowners-surveyed-remain-open-to-refinancing-reficom-reports-302804565.html

SOURCE Refi.com

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