A new market study, titled “Discover Global Platinum Guitar Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
Platinum Guitars are the innovation of the music world. The use of platinum as inlay in fingerboard, fret board and the binding of the body adds not only to look and feel, but also provides a smooth transition which enhances the playing experience.
With global economic slowdown in the last few years, the platinum guitars have also experienced a slump in sale, but have picked up worldwide consumption over last few years. The popularity of guitars in modern music and many major artists and performers endorsing platinum guitar, the market is set to improve over the forecast period.
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Key Players of Global Platinum Guitar Market =>
- Dean
- Friedman
- Kremona
- Rainsong
Segmentation:
The platinum guitar market is segmented based upon type, application and region.
Based upon type, the platinum guitar market is categorized as
• Platinum Electric Guitars
• Platinum Acoustic Guitars
• Platinum Classical & Nylon Guitars
Based upon application, the platinum guitar market is categorized as
• Guitar shop
• Music school
• Online
• Other
Based Upon Region, the platinum guitar market is categorized as
• North America (United States of America, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Russia, Spain)
• Asia Pacific (China, Japan, Korea, India, Australia, New Zealand)
• Middle East & Africa
• Latin America
Regional Analysis:
North America is the market leader in terms of production and sale of platinum guitars. The region has a world class industrial technology and relies heavily on automation. The presence of many major recording labels and studios in the region are some of the factors of popularity of platinum guitar. Some of the most famous rock stars, musicians and performers have endorsed platinum guitars further propelling the market in the region.
Europe is the next major market in terms of consumption rate. The region has a thriving music, art and film industry.
Asia Pacific is expected to grow at the highest rate. The region has a high population density and improved manufacturing infrastructure and technological development in industry are leading the growth pattern in the region.
A growth in disposable income among consumers has added to the regions growth. China is the second largest supplier of platinum guitar with production rates of 26% in global share.
Middle East and Africa are other regions expected to propel the growth of platinum guitar market with a change in the society dynamics and acceptance of western ideas and concept.
Industry News:
The rapid globalization and growth of free trade has driven the growth of platinum guitar market. Although guitars considered as western instrument were initially more popular in North American and European regions, its acceptance and demand has significantly increased over last few years in Asia pacific, Middle East and African regions with a globalized entertainment industry due to social media and virtual platforms. Digital platforms plays a big role in branding and marketing of platinum guitars and will be a driving factor.
With high connectivity, good internet speeds and the growth of social media, the market of platinum guitar have new found acceptance in growing economies and is expected to grow significantly with major artists and performers endorsing platinum guitar for its superior quality, better sound and durability.
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