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          1. Musical Instrument Manufacturing Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 9/14/2020
            SIC Codes: 3931
            NAICS Codes: 339992
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Musical Instrument Manufacturing Industry Profile

            Companies in this industry are primarily engaged in the manufacture of musical instruments. Major companies include Fender, Gibson Guitar, and Steinway (all based in the US), as well as Roland and Yamaha (both based in Japan) and China's Pearl River Piano.

            The global market for musical instruments is set to exceed $18 billion by 2020, according to Technavio. The US, China, Taiwan, Japan, Indonesia, and South Korea together manufacture about 90% of the world's music and audio gear. The Americas is the largest market for musical instruments, accounting for about 51% of sales, while the Asia/Pacific region is expected to grow the fastest. The increasing popularity of live musical performances and concerts is a major global industry growth driver.

            The US musical instrument manufacturing industry includes about 600 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $2 billion.

            COMPETITIVE LANDSCAPE

            Demand is largely driven by consumer income and education demographics. The profitability of individual companies depends on cost efficiencies. Many large companies benefit by offering a wide range of products. Small companies can compete effectively by specializing in high-end or niche instruments. The US musical instrument manufacturing industry is highly concentrated: the 50 largest companies generate more than 80% of revenue.

            Imports account for 55% of the US market. The largest supplier to the US is China, which accounted for more than 40% of imports in 2017. ...

             
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