South America, Middle East & Africa Guitar Market Research Report, 2028

South America, Middle East & Africa Guitar Market Research Report, 2028

Actual Market Research 31-03-2023 73 Pages Figures : 11 Tables : 20 Category : Consumer Goods & Services Leisure

1. Gibson Brands, Inc.

2. Yamaha Corporation

3. Cort Guitars

4. Paul Reed Smith Guitar

5. Schecter Guitar Research


People in South America, the Middle East, and Africa are increasingly interested in music, travel, and sports. These activities provide a respite from their hectic and monotonous lives. One of the leisure activities gaining popularity across the South America, Middle East & Africa is learning to play musical instruments. The guitar is believed to have been introduced to South America by Spanish colonizers in the 16th century, and quickly became a popular instrument among the local populations. Furthermore, the guitar remains an important part of South American music culture, and can be heard in everything from street performances to major music festivals throughout the region. Playing the guitar was historically considered culturally objectionable in some parts of the Middle East, with the instrument being associated with Western music styles. Furthermore, the oud, a traditional Middle Eastern stringed instrument, is frequently regarded as the forerunner to the modern guitar and has influenced the development of guitar music in the region. As people look to invest in high-quality, handmade guitars made by skilled craftsmen in their own countries, there have been a growing interest in supporting local guitar manufacturers in South America. Furthermore, as the guitar's popularity grows in the Middle East and Africa, there is a growing demand for high-quality, handmade guitars made by skilled craftsmen. Many regional guitar manufacturers are now focusing on creating one-of-a-kind, customized instruments to meet the needs of individual musicians. According to the research report, “South America, Middle East & Africa Guitar Market Research Report, 2028” published by Actual Market Research, the South America, Middle East & Africa Guitar market is anticipated to reach USD 670.38 Million by 2028. South America has a rich cultural heritage when it comes to music, with a strong tradition of guitar playing in many countries. This has helped to create a strong demand for guitars in the region. Furthermore, Many countries in South America have experienced economic growth in recent years, which has led to an increase in disposable income for consumers. This has helped to drive demand for higher-end guitars and accessories. Moreover, South America is a popular destination for tourists from around the world, many of whom are interested in purchasing locally made souvenirs, including guitars. Furthermore, Guitar manufacturers in the Middle East and Africa are constantly innovating and incorporating new technologies into their products, which has helped to create a diverse range of options for consumers. Additionally, there is a growing trend towards locally made, artisanal guitars that incorporate traditional design and materials. Moreover, there has been a growing interest in locally made, artisanal guitars in the Middle East and Africa. These guitars are often made from traditional materials, such as cedar and mahogany, and incorporate unique design elements that reflect the cultural heritage of the region. According to the report, the South America, Middle East, and Africa Guitar Market considers two countries, including Brazil and Saudi Arabia. Brazilian music has a rich tradition of guitar playing, particularly in the genres of bossa nova, samba, and choro. The Brazilian guitar style is characterized by its intricate melodies and rhythms. Furthermore, Brazilian guitarist and composer Baden Powell is considered one of the most influential figures in the development of the bossa nova genre. His innovative guitar techniques and compositions continue to inspire musicians to this day. Moreover, every year, the city of Belo Horizonte hosts the Festival de Inverno de Belo Horizonte, which features performances by some of Brazil's top guitarists and other musicians. In addition, the Saudi Arabian Guitar Federation, founded in 2015, is an organization that promotes guitar playing and education in the country. It organizes workshops, concerts, and competitions for guitarists of all levels. Furthermore, Saudi Arabian guitarist Naseer Shamma is known for his innovative approach to the oud, a traditional Middle Eastern stringed instrument similar to the guitar. He has collaborated with musicians from around the world and founded several music schools in the region. Moreover, guitar playing is becoming increasingly popular among Saudi Arabian youth, particularly in the rock and metal genres. Several local bands have gained a following in the country and are starting to attract international attention. The market is divided into two categories: acoustic and electric. During the forecast period, the acoustic segment dominated the market in terms of share. Acoustic guitars can be used to play a wide range of musical styles, including folk, classical, and popular music. This versatility makes them a popular choice for musicians of all levels. Furthermore, acoustic guitars are easier to transport than electric guitars, as they do not require an amplifier or other equipment. This makes them a popular choice for musicians who travel frequently. The electric guitar segment is expected to have the fastest CAGR of 9.71% during the forecast period in South America, the Middle East, and Africa. Electric guitars are the preferred choice for playing rock, metal, and other heavy genres of music, which are becoming increasingly popular in South America, the Middle East, and Africa. Furthermore, as the music industry in South America, the Middle East, and Africa continues to grow, there are a growing number of professional musicians who require high-quality electric guitars for recording and live performances. The market is divided into offline and online segments based on the distribution channel. During the forecast period, the offline channel dominated the market share. Many customers prefer to purchase guitars in person so that they can try them out and get a feel for the instrument before purchasing. Customers can try out different guitars and get advice from knowledgeable staff at offline stores. Furthermore, when compared to online retailers, offline stores can provide a higher level of customer service. This can include guitar selection and maintenance advice, as well as guitar repair services. The online segment is expected to grow at the fastest CAGR during the forecast period. Online distribution channels can use digital marketing techniques such as social media advertising and email campaigns to reach a larger audience and build brand awareness. Furthermore, younger generations are more likely than older generations to purchase guitars and related products online. The growing popularity of live concerts, as well as the commercialization of music festivals, boosts demand for musical instruments like guitars in South America, the Middle East, and Africa. The Rock in Rio festival is one of the largest music festivals is held in Rio de Janeiro, Brazil. It has featured many iconic guitarists over the years, including Carlos Santana, Steve Vai, and Eddie Van Halen. Furthermore, The Festival Internacional de la Canción de Viña del Mar in Chile is one of the longest-running music festivals in South America. It has featured many famous guitarists over the years, including Carlos Santana, Eric Clapton, and Mark Knopfler. Moreover, The Cosquín Folk Festival in Argentina is one of the most important folk music festivals in South America. It features traditional guitar music, including the use of the charango, a small stringed instrument that is popular in the Andean region. In additon, The Cape Town International Jazz Festival in South Africa is one of the largest jazz festivals. It has featured many famous guitarists over the years, including George Benson, Pat Metheny, and Earl Klugh. Furthermore, The Aswan Music Project in Egypt is a community-based music project that brings together musicians from different cultures and backgrounds to collaborate and perform live. The project focuses on traditional instruments, including the oud and the qanun, which are often used in conjunction with guitars. In South America, the Middle East, and Africa, more music students want to learn to play the guitar. The growing popularity of music is fueling an increase in guitar demand. Due to popular music genres such as metal and rock are popular; people are encouraged to learn to play the guitar. Brazil has a strong tradition of guitar playing and is home to many world-renowned guitarists, including Baden Powell and Joo Gilberto. The country has many guitar schools and academies, including the Conservatório Brasileiro de Música in Rio de Janeiro and the Escola de Música de Brasília. Furthermore, Argentina is also known for its guitar culture and has many schools that specialize in traditional styles of guitar music, including the tango. The Instituto Superior de Msica in Santa Fe is one of the most respected guitar schools in the country. Moreover, Colombia has a growing guitar scene, with many schools and academies offering courses in classical, flamenco, and popular guitar styles. The Fundación Batuta in Bogotá is a non-profit organization that provides music education to underprivileged children and has a strong guitar program. In addition, the National Music Conservatory in Amman, Jordan, is one of the leading music schools in the Middle East and offers courses in a wide range of musical instruments, including the guitar. It also hosts the annual Jordanian Guitar Competition, which attracts guitarists from around the world. Furthermore, In South Africa, the Cape Town Academy of Music is one of the oldest and most prestigious music schools in the country. It offers courses in classical and jazz guitar, as well as other musical instruments. The school has produced many famous musicians, including guitarist Derek Gripper. Restraints: Economic instability and poverty can make it difficult for many people in South America, Middle East & Africa to afford guitars and music lessons. Furthermore, traditional cultural and religious beliefs in some parts of the Middle East and Africa may discourage or limit the playing of musical instruments, including the guitar. Moreover, the lack of government funding for music education programs can limit access to quality education and training, particularly in rural and low-income areas. Developments: • In 2021, Fender Musical Instruments Corporation announced plans to expand its operations in Brazil, which is a growing market for guitars and other musical instruments. • In 2020, Brazilian guitar manufacturer Giannini introduced a new line of electric guitars that are designed to be more affordable and accessible to entry-level players. • In 2021, a new music school called the Lebanese Guitar Academy was opened in Beirut, Lebanon. The school aims to provide high-quality guitar education to students of all ages and skill levels. • In 2020, Gibson Brands Inc., one of the world's leading guitar manufacturers, announced plans to expand its presence in Africa, including opening a new flagship store in Johannesburg, South Africa. Companies Mentioned in this Report: Gibson Brands, Inc., Yamaha Corporation, Cort Guitars, Paul Reed Smith Guitar, Schecter Guitar Research, C.F. Martin & Co. Inc, Roland Corporation, Casimi. Considered in this report • Geography: South America, Middle East & Africa • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South America, Middle East & Africa Guitar market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • Brazil • Saudi Arabia By Product Type: • Acoustic Guitar • Electric Guitar By Distribution Chanel: • Offline • Online The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, government-generated reports, and databases. After gathering the data from secondary sources, primary research was conducted by making telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started doing primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the guitar industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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