The future of music

Guitar Sales Statistics: Industry & Trends (Simple Table)

December 29, 2023
Guitar Sales Statistics

The demand for guitars has witnessed a steady rise since the 2009 economic downturn, with a remarkable surge in popularity seen in 2020 during the post-COVID era.

The global lockdown due to the pandemic is a major contributing factor to this surge in demand.

With more time spent at home, individuals are seeking new avenues to explore and learn, and picking up a musical instrument like the guitar has been a popular choice.

The guitar’s appeal lies in its simplicity of learning and the ease of playing without the need for expensive equipment or professional training.

This upsurge in guitar interest is evident from the sales figures, with the US guitar sales reaching a staggering $1.3 billion in 2020, a whopping 60% increase from the previous year.

The trend shows no signs of slowing down and is expected to continue into 2024 and beyond as individuals continue to seek avenues for self-expression and entertainment.

This article will examine guitar sales statistics and data, it will also offer insights into the future of the guitar industry and emerging trends.

Quick Statistics:

  • The global guitar market is expected to grow at a CAGR of 3.1% from 2021-2028.
  • The acoustic guitar market is projected to reach $2.2 billion by 2027, growing at a CAGR of 2.3% from 2020-2027.
  • The electric guitar segment is expected to be the fastest-growing segment of the guitar market during the forecast period of 2021-2028.

Guitar Sales Statistics Table

CategoryStatistic
US guitar sales in 2020$1.3 billion
US guitar sales expected in 2023$1.8 billion
Global guitar sales in 2020$17.2 billion
US share of global guitar sales in 2020$4.4 billion
Acoustic guitars as a share of the US guitar market58%
Classical and flamenco guitars as a share of the US guitar market36%
Classical and flamenco guitars as a share of US guitar market6%
The average age of guitar players7.1%
Male respondents who bought a guitar in 2022 (Piano Dreamers Poll)9.0%
18-24 age group respondents who bought a guitar in 2022 (Piano Dreamers Poll)17.5%
65+ age group respondents who bought a guitar in 2022 (Piano Dreamers Poll)2.9%
Average age of guitar players30 years old
Male guitar players51%
Female guitar players49%
Guitar players with 10 or more years of experience32%
Guitar players with 5-10 years of experience23%
Popular genres among guitar playersrock (36%), blues (21%), and pop (19%)
Guitar players who own an acoustic guitar69%
Guitar players who own an electric guitar60%
Gibson’s share of the US guitar market34%
Fender’s share of the US guitar market30%
Ibanez’s share of the US guitar market12%
Yamaha’s share of the US guitar market7%
The expected annual growth rate of the used guitar market between 2020 and 20254%
Other brands’ share of the US guitar market9%
Market share of electric guitars in the US60%
Market share of acoustic guitars in the US40%
Used guitar market value in 2020$1.4 billion
Used guitar market value expected in 2025$2.1 billion
Reverb.com sales of used musical instruments and gear in 2019$200 million
Reverb.com sales of used guitars in 2019$130 million
Electric guitars’ share of the used guitar market70%
Acoustic guitars’ share of the used guitar market30%
Expected annual growth rate of the used guitar market between 2020 and 20255.5%
Expected global guitar market value in 2025$19.9 billion

List of Guitar Industry Statistics & Trends

  • 50% of aspirational and beginner players are women. (Statista via Student of Guitar)
  • Fender guitar sales grew by 17% in 2020. (CNBC)
  • The electric guitar market is expected to reach $5.1 billion by 2027. (Yahoo Finance)
  • Guitar sales in the United States are rising, and amateur players are driving the demand. (Rolling Stone, Bloomberg)
  • Sweetwater, Guitar Center, and Reverb all reported great sales during the pandemic. Sweetwater surpassed $1 billion in revenue in 2020. (Rolling Stone)
  • Searches and orders for popular guitar brands like Fender, Gibson, and Taylor were up significantly. (Rolling Stone)
  • Searches for acoustic guitars and amps were up by 50% year-over-year. (Rolling Stone)
  • According to Reverb CEO of Online Marketplace David Mandelbrot, there’s been a boom for instruments that can be played in the living room like guitars, keyboards, ukuleles, and drum machines. (Bloomberg)
  • Amateur musicians have been driving the demand for instruments, including guitars, since the pandemic began. (Bloomberg)
  • Fender guitars experienced a 17% growth during the pandemic in 2020, with part of the success being attributed to Fender’s online video platforms for learning instruments such as guitars, bass, and ukulele. (CNBC)
  • There were 16 million Americans that tried their hands at playing the guitar over the last 2 years, and 72% were aged between 13 to 64 years old. (Guitar.com)
  • 62% of those people cited the pandemic and lockdowns as their reason for trying the guitar. (Guitar.com)
  • 67% of beginners look for guitar content per week, with 58% of new guitar players using TikTok to find guitar-related content. (Loudwire)
  • 38% of new guitar players identify as Latinx. (Guitar.com)
  • 72% of new guitar players are aged 13 to 34, and the majority of those had previously played another musical instrument. (Loudwire)
  • The global guitar market is expected to grow at a CAGR of 3.1% from 2021-2028.
  • The acoustic guitar market is projected to reach $2.2 billion by 2027, growing at a CAGR of 2.3% from 2020-2027.
  • The electric guitar segment is expected to be the fastest-growing segment of the guitar market during the forecast period of 2021-2028.
  • In the UK, the guitar market grew by 8.8% in 2020, reaching £99.2 million in value.
  • In the US, guitar sales increased by 27% in 2020 compared to 2019, with acoustic guitars experiencing the largest growth.
  • The average age of guitar buyers is increasing, with the largest group of buyers being aged 55 and older.
  • The global guitar market is highly fragmented, with many small players competing with larger established brands like Gibson and Fender.

Final Thoughts

Wrapping things up, the guitar industry has experienced a significant boost in demand due to the pandemic, leading to record-breaking sales figures.

This trend is expected to continue in the coming years, making the guitar a promising investment for those in the industry.

As the world continues to navigate the challenges of the pandemic, the guitar remains a beloved instrument that brings joy and creativity to countless musicians and enthusiasts.

You may also like: Apple Music Statistics

Sources:

Will Fenton

Will, the founder of MIDDER, is a multifaceted individual with a deep passion for music and personal finance. As a self-proclaimed music and personal finance geek, he has a keen eye for futuristic technologies, especially those that empower creators and the public.

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