Global Electric Guitar Market Growth To Be Driven By Increasing Number Of Live Concerts And Performance Across The Globe
Pune, Maharashtra, Jun 05, 2019 (Wired Release) Prudour Pvt. Ltd. – An electric guitar is an electronic device in which the guitar uses one or more pickups in order to convert the vibration of its strings to electrical signals. There are different types of electric guitars including electric acoustic guitar, the twelve string electric guitar, the seven-string guitar, chambered bodies guitar, and semi-acoustic guitar. Rock and other bands use two types of electric guitars such as lead guitar and rhythm guitar. Rhythm guitar is useful as it offers chord or advance sequence and is helpful in setting out the beat. On the other hand, the lead guitar is useful in melody lines, guitar solos, melodic instrumental fill passages, and.
Increasing number of musical bands and increasing use of electric guitars in various popular genres of music including rock and metal are among the major factors that are propelling the demand for electric guitar. There is an increase in the growth of the electric guitar market due to the increasing number of individuals who are attempting to learn and play the guitar. Increasing industrialization, urbanization, rising live performances and concerts, mounting popularity of rock music, growing curiosity among the customers, rising interests in relaxation activities are among the other factors which help to drive the growth of the market.
High cost of electric guitars and requirement of highly trained and skilled labor for carving, adjusting, and assembling of electric guitars may lead to high wages and capital requirements and may hamper profits of the manufacturers to a certain extent.
Mainly three types of electric guitars are available in the market currently, including solid body, semi-hollow body, and hollow body. The solid electric guitar is the most preferred guitar as it is less expensive as compared to other electric guitars and are rougher than acoustic-electric instruments.
The electric guitar is used in three applications including professional performance, learning and training, and individual amateurs. The electric guitar is useful for Learning and training purpose due to the increasing number of music institutions and increasing individuals interest in rock music.
Rapid technological advancements in guitars and rising interest of the individuals in rock music are the factors that are resulting in high demand for these electric guitars in North America. Moreover, increasing disposable income and changing lifestyle in countries in North America, especially in the US and Canada, is leading to increasing adoption of the electric guitar. Adoption of an electric guitar is increasing in the Asia Pacific region due to the increasing number of concerts and live performances in this region. In addition, increasing interests of many individuals in music in countries such as India. Adoption of electric guitars is comparatively less in regions such as Latin America, and the Middle East and Africa.
The electric guitar market worldwide is expected to grow at a compound annual growth rate of nearly 5.8% over the next 10 years and was valued at around US$ 615.1 Mn in 2018.
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