Percussion Instruments Market (2023 - 2030)

Percussion Instruments Market Summary

The global percussion instruments market size was valued at USD 1.01 billion in 2022 and is projected to reach USD 1.71 billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030. 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.

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 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.

Application Insights

The professional segment dominated the market and accounted for the highest revenue share of over 65.0% in 2021. The segment is expected to grow significantly over the forecast period. Increasing multiday music events and rising music industry, percussion instruments importance in music and growing uses of these instruments from top performers leads to capturing significant market share in the overall market.

The educational segment is expected to witness the fastest CAGR of 1.5% from 2022 to 2028. The rise in the number of music institutions, and the growing adoption of music instruments by children are driving the segment’s growth. Manufacturing companies’ assistance to music schools, growing interest in opening new music institutions, and online support for the same fuels the market demand.

Type Insights

The traditional percussion instrument segment accounted for the largest revenue share of over 79.0% in 2021. The segment is estimated to witness a CAGR of 0.9% from 2022 to 2028. Several consumers prefer to play traditional instruments owing to their ability to produce natural sound. Individual learners and many professionals are increasingly preferring traditional instruments owing to the rise in the number of live events and the presence of numerous musical channels on social media.

The electronic percussion instrument segment is expected to witness the fastest CAGR of over 1.5% from 2022 to 2028. The rise in product innovation of electronic percussion instruments from manufacturing companies coupled with the demand from professionals is anticipated to drive the segment’s market growth. These electronic instruments are played by hands, sticks, mallets, or brushes. Electronic drums are highly popular among electronic percussion instruments and have a growing demand in the international market.

Regional Insights

North America dominated the percussion instruments market and accounted for the largest revenue share of 34.4% in 2021. The segment is expected to expand at a growth rate of 0.9% from 2022 to 2028. The presence of top-performing brands, high purchasing power, presence of large music industry, a large number of individuals who are music enthusiasts, and a rising number of music live concerts are expected to create rising demand for percussion instruments.

In Asia Pacific, the market is estimated to witness a CAGR of 1.6% from 2022 to 2028. An increased inclination for adopting musical instruments at an early age increased disposable income, and growing music industry and live concerts are anticipated to boost the sale of percussion instruments in this region.

Key Companies & Market Share Insights

The percussion instruments industry is fragmented in nature. A number of global and regional players are playing an important role in the growth of the market. To capture sufficient market share, manufacturing companies are adopting various marketing strategies including new product developments, expansion of distribution channels, and providing customization facilities. New product launches, innovation, agreements, geographical expansion, and mergers and acquisitions are some of the key strategies being adopted by the players to strengthen their position in the market and gain a higher market share. In March 2019, Conn-Selmer Inc. announced the partnership with MBI Indoor Percussion and Conn-Selmer Inc. The partnership will company in providing innovation in the music industry. Some of the prominent players in the percussion instruments market include:

• 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

• Majestic Holland BV

• Meinl Percussion

• Walberg and Auge

Percussion Instruments Market