Inclusion of music in academic curriculum increases piano market size by USD 297.28 million

New York, August 22, 2022 /PRNewswire/ — The “Piano Market Forecast and Analysis 2022-2026” The report added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has been proudly partnering with over 100 Fortune 500 companies for over 16 years.

The latest market research report titled Piano Market Growth, Size, Trends, Type, Application, Region and Segment Forecast 2022-2026 has been announced by Technavio which has been proudly partnering with Fortune 500 companies for over 16 years.

The difference is the potential growth for the piano market between 2021 and 2026 USD 297.28 million, according to the latest market research analysis report by Technavio. The report predicts that the market will witness rapid growth CAGR of 2.33%. Technavio classifies the global piano market as part of the global entertainment products industry Global domestic durable market. Our report provides detailed information on the value chain analysis for the piano market, which vendors can leverage to gain a competitive advantage over the forecast period. The data available in our value chain analysis section helps vendors drive costs and enhance customer services during the forecast period.

For more insight into scope and value chain analysis, Read a free sample report

Key Market Dynamics:

  • Market Drivers: One of the major factors driving the growth of the piano market Inclusion of music in educational curriculum. Extracurricular activities play an important role in students’ lives. Students participating in such activities meet new people, which improves their social skills and cultural understanding. Participation in extracurricular activities enables students to acquire a variety of essential life skills, such as multitasking, teamwork, time management, prioritization, problem solving, analytical thinking, leadership, and public speaking. An increased number of school enrollments will increase participation in extracurricular activities such as music. Hence, the number of students enrolling in music courses to learn to play musical instruments such as the piano is expected to increase, which, in turn, will drive the growth of the global piano market.

  • Market Trends: The Preference for customized pianos is a piano market trend that is expected to have a positive impact in the coming years. Customized products have gained popularity in various developed regions, such as the US and EuropeAnd in emerging countries, e.g India and China. Demand for customized musical instruments, including pianos, has increased because customization makes such instruments unique and different. Custom pianos are visually appealing and of high quality. Customization of pianos can vary from colors to special finishes, monograms, inlays and designs. Such customization options allow customers to personalize their pianos. Personalized pianos are more expensive than standard pianos, and some vendors take up to 12 months to build personalized pianos. Despite such challenges, customization and personalization of pianos is expected to drive the growth of the global piano market.

For more key market dynamics and their impact analysis, View a free PDF sample report

Market segment highlights
The piano market report is segmented by product (acoustic piano and digital piano) and geography.North America, EuropeAPAC, South Americaand Middle Eastern and Africa).

  • Regional Opportunities: 37% of the market growth will originate from APAC during the forecast period. China and Japan Major markets for pianos in APAC are Market growth in this sector will be faster than market growth in other sectors. The implementation of integrated curriculum by an increasing number of schools will facilitate the growth of the piano market in APAC during the forecast period.

  • Revenue Generating Segment Insights: Piano market share growth in the acoustic piano segment will be significant during the forecast period. The average selling price of an acoustic piano is higher than a digital piano. Acoustic pianos also require regular maintenance. Their strings are prone to damage and may require frequent tuning. Despite such requirements, many musicians prefer acoustic pianos, due to the sound quality and musical expression of such pianos. These factors will drive the growth of the acoustic piano segment of the global piano market during the forecast period.

Request a sample report For more insight into the contribution of all sectors and regional opportunities

Mention some companies with your offer

Related reports:
Smart musical instrument market By Technology, End User, and Geography – Forecast and Analysis 2022-2026
Musical instrument market Analysis report by growth, size, trends, type, application, region and segment forecast 2022-2026
Electronic musical instruments market Analysis report by growth, size, trends, type, application, region and segment forecast 2022-2026

Piano Market Scope

Report coverage

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth rate and CAGR

Accelerated at a CAGR of over 2.33%

Market Growth 2022-2026

$297.28 million

Market structure

fragmented

Annual Growth (%)

1.83

Regional analysis

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

Demonstrating market contribution

APAC at 37%

Major consumer countries

USA, Canada, Japan, China and UK

Competitive landscape

Major companies, competitive strategies,
Consumer engagement scope

Companies profile

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 & Hamlin Piano
Co., PETROF Spol sro, Roland Corp., Samick Music
Corp., Schulz Polman Pianoforti SRL,
Steingraeber and Sohne KG, Steinway Inc., Stuart and
Sons, Wilhelm Schimmel Pianofortefabrik GmbH, &
Yamaha Corporation

Market dynamics

Parent market analysis, market growth inducers and
Constraints, fast-growing and slow-growing segment
Analysis, COVID 19 impact and future consumer
dynamics, and market condition analysis for the forecast period

Custom range

If our report does not include your data
Looking for, you can reach out to our analysts and get
Customize sections

Main topics covered:

about us
Technavio is a leading global technology research and consulting 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 position.

With more than 500 specialized analysts, Technavio’s report library contains more than 17,000 reports and calculations, covering 800 technologies spanning 50 countries. Their client base includes enterprises of all sizes, including over 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.

Get in touch
Technavio research
Jesse Maida
Media and Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
email:[email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

Cision

Cision

View original content to download multimedia: https://www.prnewswire.com/news-releases/usd-297-28-million-growth-in-piano-market-size-due-to-inclusion-of-music-in -Academic-curricula—17-000-technavio-reports-301609583.html

Source Technovio

Leave a Comment

Your email address will not be published.