Percussion Instruments Market Is Anticipated To Witness Significant Growth Prospects With Rising CAGR By 2028

Posted by Mrudula Karmarkar on December 21st, 2022

The global percussion instruments market size is expected to reach USD 1.6 billion by 2028, registering a CAGR of 1.1% over the forecast period, according to a new report by Grand View Research, Inc. The market for percussion instruments is expected to grow due to an increase in the number of live concerts and multiday musical events. Furthermore, the business is being fueled by the stage performances of leading companies and musicians.

Percussion instruments are considered a backbone of the music industry as it is one of the oldest instruments played. The coronavirus pandemic adversely affected the percussion instruments business. School closures canceled musical events and live orchestras, and disruptions in the supply chain led to reduced demand for musical instruments at a global level. Yamaha created disinfection guidelines for digital pianos, drums and percussion instruments, keyboards, guitars, pianos, and wind and string instruments.

In April 2020, BD Performing Arts (BDPA) and Conn-Selmer, Inc. announced that RCC Indoor, The Blue Devils, and all other programs would be performed exclusively on instruments distributed and manufactured by Conn-Selmer, Inc. The joined forces are expected to support the advancement of excellence in arts through new product development and educational events under Conn-Selmer Marching brands.

The rising inclination of adopting percussion instruments from music hobbyists coupled with rising demand from professionals due to the rise in the number of musical events is driving the demand for percussion instruments. Percussion instruments play a vital role by keeping the rhythm of the song and producing one cohesive sound with all other instruments. Encouragement for adopting musical instruments at an early age by either their parents or at school positively impacts the musical instruments. The advent of the Covid-19 pandemic adversely affected the demand for percussion instruments. Factors such as canceled music festivals, closure of schools, and disruption in the supply chain restricted the demand for percussion instruments. However, it is expected that, as things get normal in the post-pandemic era, percussion instruments will have an upsurge in demand.

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Furthermore, top brands and musicians’ stage performances at these events are fueling the market growth of percussion instruments. In addition, the rising demand for percussion instruments from marching bands further boosted the industry sales. Increased consumption of drums and other instruments at military events like marching bands is responsible for propelling percussions market growth at a global level. New product developments with technological advancements from manufacturing companies will further propel market growth in the near future.

Percussion Instruments Market Report Highlights

• North America accounted largest market share the market in 2021 and is expected to grow at a growth rate of 0.9% from 2022 to 2028. The presence of top-performing brands, high purchasing power, and a rising number of music live concerts are propelling regional growth
• The electronic percussion instrument segment is expected to grow at the fastest CAGR of over 1.5% from 2022 to 2028. The insertion of electronic percussion instruments from manufacturing companies and rising demand from professionals will drive the segment growth
• Asia Pacific is projected to grow at the fastest CAGR of 1.6% from 2022 to 2028. An increased inclination for adopting musical instruments at an early age, increased disposable income, and a growing music industry are expected to boost the sale of percussion instruments
• The professional category of the application segment accounted for the highest revenue share in 2021 and is expected to grow at a CAGR of 1.0% over the forecast period. Increasing multiday music events and the rising penetration of the music industry are the major drivers of the segment’s growth
• In January 2020, Gretsch Drums introduced the USA custom limited River Cypress kit. It has been handcrafted at the Gretsch factory in the U.S. and is available in limited quantities

Percussion instruments are considered a backbone of the music industry as it is one of the oldest instruments played. It plays important role in any kind of music like jazz, pop, rock, or orchestral music, due to widespread acceptance of these instruments. Some of the commonly known percussion instruments include timpani, snare drum, cymbals, triangle, tambourine, gongs, maracas, and celesta. The rise in the number of music learners and growing interest among music enthusiasts due to growing social media is fueling the demand for percussion instruments.  The rise in the number of musical events and an increasing number of live concerts is driving the younger populace to pursue music, thereby driving the demand for percussion instruments. As per a survey conducted by National Laboratory Medicine (NLM), the use of percussion instruments reduces anxiety levels among the elderly populace.

List of Key Players of the Percussion Instruments Market

• Conn-Selmer, Inc.
• Yamaha Group
• K.H.S. Musical Instrument Co., Ltd.
• Gretsch Drums
• Ludwig Drums
• InMusic Brands, Inc. (Alesis)
• Remo Inc.
• Roland Corporation
• Ashton Music
• Pearl Musical Instrument Co.
• D'Addario