South Korea Guitar Market Size & Outlook, 2023-2030
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South Korea guitar market highlights
- The South Korea guitar market generated a revenue of USD 764.8 million in 2023 and is expected to reach USD 1,384.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.9% from 2024 to 2030.
- In terms of segment, acoustic was the largest revenue generating product in 2023.
- Electric is the most lucrative product segment registering the fastest growth during the forecast period.
Guitar market data book summary
| Market revenue in 2023 | USD 764.8 million |
| Market revenue in 2030 | USD 1,384.8 million |
| Growth rate | 8.9% (CAGR from 2023 to 2030) |
| Largest segment | Acoustic |
| Fastest growing segment | Electric |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Acoustic, Electric |
| Key market players worldwide | KKR & Co Inc Ordinary Shares, Yamaha Corp, C.F. Martin & Co, Fender, Hoshino Gakki, Hofner, PRS Guitars, Schecter Guitar Research |
Other key industry trends
- In terms of revenue, South Korea accounted for 7.0% of the global guitar market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan guitar market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,384.8 million by 2030.
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Guitar Market Scope
Guitar Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Schecter Guitar Research | View profile | 11-50 | Sun Valley, California, United States, North America | http://schecterguitars.com |
| PRS Guitars | View profile | 251-500 | Stevensville, Maryland, United States, North America | http://www.prsguitars.com/ |
| Hofner | View profile | 11-50 | Baiersdorf, Bayern, Germany, Europe | https://www.hofner.com |
| Hoshino Gakki | View profile | 11-50 | Nagoya, Aichi, Japan, Asia | https://www.hoshinogakki.co.jp |
| C.F. Martin & Co | View profile | 251-500 | Nazareth, Pennsylvania, United States, North America | http://martinguitar.com |
| Fender | View profile | 1001-5000 | Scottsdale, Arizona, United States, North America | https://www.fender.com |
| Yamaha Corp | View profile | 25994 | 10-1, Nakazawa-cho, Naka-ku, Shizuoka, Hamamatsu, Japan, 430-8650 | https://www.yamaha.com |
| KKR & Co Inc Ordinary Shares | View profile | 4490 | 30 Hudson Yards, New York, NY, United States, 10001 | https://www.kkr.com |
South Korea guitar market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to guitar market will help companies and investors design strategic landscapes.
Acoustic was the largest segment with a revenue share of 54.8% in 2023. Horizon Databook has segmented the South Korea guitar market based on acoustic, electric covering the revenue growth of each sub-segment from 2018 to 2030.
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Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of South Korea guitar market databook
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Our clientele includes a mix of guitar market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea guitar market , including forecasts for subscribers. This country databook contains high-level insights into South Korea guitar market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea guitar market size, by product, 2018-2030 (US$M)
South Korea Guitar Market Outlook Share, 2023 & 2030 (US$M)
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