NEW YORK, July 22, 2022 /PRNewswire/ — The global piano market size is expected to grow by USD 297.28 million from 2021 to 2026 at a CAGR of 2.33% as per the latest market report by Technavio. 37% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for pianos in APAC. Market growth in this region will be faster than the growth of the market in other regions. The implementation of integrated curricula by an increasing number of schools will facilitate the piano market growth in APAC over the forecast period.
Read the 120-page report with TOC on “Piano Market Analysis Report by Product (Acoustic piano and Digital piano) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa), and the Segment Forecasts,2022-2026″. Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/piano-market-industry-analysis
Piano Market: Market Dynamics
Major Driver:
- The key factor driving growth in the piano market is the inclusion of music in academic curricula. Extracurricular activities play a vital role in the lives of students. Students who participate in such activities meet new people, which improves their social skills and cultural understanding. Participation in extracurricular activities also enables students to acquire various essential life skills, such as multitasking, teamwork, time management, prioritization, problem-solving, analytical thinking, leadership, and public speaking. Several schools, colleges, and universities across the world, especially international schools, and colleges are including extracurricular activities and add-on courses, such as music, in their curricula.
Major Challenges:
- The availability of music production software will be a major challenge for the piano market during the forecast period. Music production software is a direct substitute for different types of musical instruments, such as pianos. Such software has various options which enable users to compose music that is similar to the music produced by professional musicians. Music production software enables amateurs to produce music without training. Such software is versatile and offers a wide range of sounds. They also cost less than various types of musical instruments, such as pianos. The use of such software enables mobility and allows the recording of music in different environments.
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Piano Market: Vendor Analysis
The piano market is fragmented and the vendors are deploying growth strategies such as focusing on building brand equity to differentiate themselves and compete in the market.
- 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 and Hamlin Piano Co.
- PETROF Spol s.r.o.
- Roland Corp.
- Samick Music Corp.
- SCHULZE POLLMANN PIANOFORTI SRL
- Steingraeber and Sohne KG
- Steinway Inc.
- Stuart and Sons
- Wilhelm Schimmel Pianofortefabrik GmbH
- Yamaha Corp.
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Piano Market: Segmentation Analysis
Product Outlook (Revenue, USD mn, 2021-2026)
- Acoustic piano – size and forecast 2021-2026
- Digital piano – size and forecast 2021-2026
Geography Outlook (Revenue, USD mn, 2021-2026)
- North America – size and forecast 2021-2026
- Europe – size and forecast 2021-2026
- APAC – size and forecast 2021-2026
- South America – size and forecast 2021-2026
- Middle East and Africa – size and forecast 2021-2026
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Report
Get ready to achieve excellent business outcomes from this exclusive Piano Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as –
- What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
- What is the current trend taking place in the market space?
- Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
- What are market drivers, restraints, and challenges impacting demand & growth of the market?
- Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Piano Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don’t wait, Make a strategic approach & boost your business goals with our Piano Market Forecast Report – Buy Now!
Related Reports:
- The viola market share is expected to increase to USD 5.77 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 2.13%.
- The electronic musical instruments market share is expected to increase by USD 505.09 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.09%.
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Piano Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.33% |
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Market growth 2022-2026 |
USD 297.28 million |
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Market structure |
Fragmented |
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YoY growth (%) |
1.83 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 37% |
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Key consumer countries |
US, Canada, Japan, China, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
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 and Hamlin Piano Co., PETROF Spol s.r.o., Roland Corp., Samick Music Corp., SCHULZE POLLMANN PIANOFORTI SRL, Steingraeber and Sohne KG, Steinway Inc., Stuart and Sons, Wilhelm Schimmel Pianofortefabrik GmbH, and Yamaha Corp. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Content
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 24: Chart on Product – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product – Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 5.3 Acoustic piano – Market size and forecast 2021-2026
- Exhibit 28: Chart on Acoustic piano – Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Acoustic piano – Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Acoustic piano – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Acoustic piano – Year-over-year growth 2021-2026 (%)
- 5.4 Digital piano – Market size and forecast 2021-2026
- Exhibit 32: Chart on Digital piano – Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Digital piano – Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Digital piano – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Digital piano – Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Product
- Exhibit 36: Market opportunity by Product ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 North America – Market size and forecast 2021-2026
- Exhibit 42: Chart on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.4 Europe – Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.5 APAC – Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.6 South America – Market size and forecast 2021-2026
- Exhibit 54: Chart on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.8 US – Market size and forecast 2021-2026
- Exhibit 62: Chart on US – Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on US – Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on US – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on US – Year-over-year growth 2021-2026 (%)
- 7.9 UK – Market size and forecast 2021-2026
- Exhibit 66: Chart on UK – Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on UK – Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on UK – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on UK – Year-over-year growth 2021-2026 (%)
- 7.10 Canada – Market size and forecast 2021-2026
- Exhibit 70: Chart on Canada – Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Canada – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Canada – Year-over-year growth 2021-2026 (%)
- 7.11 Japan – Market size and forecast 2021-2026
- Exhibit 74: Chart on Japan – Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Japan – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Japan – Year-over-year growth 2021-2026 (%)
- 7.12 China – Market size and forecast 2021-2026
- Exhibit 78: Chart on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 86: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 87: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification
- 10.3 C. Bechstein Pianoforte AG
- Exhibit 89: C. Bechstein Pianoforte AG – Overview
- Exhibit 90: C. Bechstein Pianoforte AG – Product / Service
- Exhibit 91: C. Bechstein Pianoforte AG – Key offerings
- 10.4 CASIO Computer Co. Ltd.
- Exhibit 92: CASIO Computer Co. Ltd. – Overview
- Exhibit 93: CASIO Computer Co. Ltd. – Business segments
- Exhibit 94: CASIO Computer Co. Ltd. – Key offerings
- Exhibit 95: CASIO Computer Co. Ltd. – Segment focus
- 10.5 Fazioli Pianoforti spa
- Exhibit 96: Fazioli Pianoforti spa – Overview
- Exhibit 97: Fazioli Pianoforti spa – Product / Service
- Exhibit 98: Fazioli Pianoforti spa – Key offerings
- 10.6 GROTRIAN PIANO COMPANY GmbH
- Exhibit 99: GROTRIAN PIANO COMPANY GmbH – Overview
- Exhibit 100: GROTRIAN PIANO COMPANY GmbH – Product / Service
- Exhibit 101: GROTRIAN PIANO COMPANY GmbH – Key offerings
- 10.7 Kawai Musical Instruments Mfg. Co. Ltd.
- Exhibit 102: Kawai Musical Instruments Mfg. Co. Ltd. – Overview
- Exhibit 103: Kawai Musical Instruments Mfg. Co. Ltd. – Product / Service
- Exhibit 104: Kawai Musical Instruments Mfg. Co. Ltd. – Key offerings
- 10.8 Mason and Hamlin Piano Co.
- Exhibit 105: Mason and Hamlin Piano Co. – Overview
- Exhibit 106: Mason and Hamlin Piano Co. – Product / Service
- Exhibit 107: Mason and Hamlin Piano Co. – Key offerings
- 10.9 SCHULZE POLLMANN PIANOFORTI SRL
- Exhibit 108: SCHULZE POLLMANN PIANOFORTI SRL – Overview
- Exhibit 109: SCHULZE POLLMANN PIANOFORTI SRL – Product / Service
- Exhibit 110: SCHULZE POLLMANN PIANOFORTI SRL – Key offerings
- 10.10 Steinway Inc.
- Exhibit 111: Steinway Inc. – Overview
- Exhibit 112: Steinway Inc. – Product / Service
- Exhibit 113: Steinway Inc. – Key offerings
- 10.11 Wilhelm Schimmel Pianofortefabrik GmbH
- Exhibit 114: Wilhelm Schimmel Pianofortefabrik GmbH – Overview
- Exhibit 115: Wilhelm Schimmel Pianofortefabrik GmbH – Product / Service
- Exhibit 116: Wilhelm Schimmel Pianofortefabrik GmbH – Key offerings
- 10.12 Yamaha Corp.
- Exhibit 117: Yamaha Corp. – Overview
- Exhibit 118: Yamaha Corp. – Business segments
- Exhibit 119: Yamaha Corp. – Key news
- Exhibit 120: Yamaha Corp. – Key offerings
- Exhibit 121: Yamaha Corp. – Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 122: Inclusions checklist
- Exhibit 123: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 124: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 125: Research methodology
- Exhibit 126: Validation techniques employed for market sizing
- Exhibit 127: Information sources
- 11.5 List of abbreviations
- Exhibit 128: List of abbreviations
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.
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