The global piano market at a CAGR of over 2% during the forecast period

NEW YORK, Dec. 26, 2019 /PRNewswire/ --

Global Piano Market: About this market
This piano market analysis considers sales from both acoustic pianos and digital pianos. Our study also finds the sales of piano in APAC, Europe, MEA, North America, and South America. In 2019, the acoustic pianos segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as superior sound quality will play a significant role in the acoustic pianos segment to maintain its market position. Also, our global piano market report looks at factors such as inclusion of music in academic curricula, increasing online sales of pianos, expansion of distribution networks, and rising number of music festivals and live events. However, availability of music production software, long replacement cycle, and environmental concerns may hamper the growth of the piano industry over the forecast period.

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Global Piano Market: Overview
Inclusion of music in academic curricula
Students across the globe are participating in activities to improve their social skills and cultural understanding. Extracurricular activities such as playing musical instruments also enable students to acquire multitasking, teamwork, and leadership abilities. Thus, schools and colleges across the world are incorporating extracurricular activities and add-on courses, particularly in music to their existing curricula. With more schools offering extracurricular courses, the number of students enrolling in piano learning courses is likely to surge. This inclusion of music in academic curricula will lead to the expansion of the global piano market at a CAGR of over 2% during the forecast period.
Emergence of hybrid pianos
Hybrid pianos have been gaining immense popularity among music enthusiasts. These pianos are increasingly being deployed to offer keyboard lessons as they combine the electronic, mechanical, and acoustic aspects of both acoustic and digital pianos. In addition, hybrid pianos occupy limited space and can be conveniently ported due to their small size and low weight. Furthermore, these pianos require minimal maintenance. Their tuning does not get affected by temperature and humidity due to the presence of amplifiers and speakers. They can also be connected digital interfaces, laptops, iPads, and other devices. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global piano market is highly fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading piano manufacturers, that include CASIO COMPUTER CO. LTD.; FAZIOLI PIANOFORTI SPA; Gibson Brands Inc.; Grotrian, Helfferich, Schulz, Th. Steinweg Nachf. GmbH; Korg Inc.; Mason & Hamlin Piano Co.; PETROF Spol s.r.o.; Roland Corp.; Steingraeber & Söhne KG; and Yamaha Corp.
Also, the piano market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05834268/?utm_source=PRN

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