This page provides the market share and market size of the musical instruments industry. It also provides an overview and trends of the leading musical instrument manufacturers such as Yamaha, Gibson Brands, Roland, Kawai Musical Instruments, and Fender Musical.
Market share
Using the FY2020 sales figures available for each musical instrument manufacturer as the numerator and the market size as the denominator, a simple calculation of the global market share of musical instrument manufacturers in 2020 shows Yamaha in first place with 23.9%, Roland in second with 5.7%, and Kawai Musical Instruments in third with 5.5%.
Musical Instrument Manufacturers Market Share and Industry Ranking (2020)
- No. 1 Yamaha 23.9%
- No. 2 Roland 5.7%
- No. 3 Kawai Musical Instruments 5.5%
- No. 4 Fender Musical Instruments 4.6%
- No. 5 Gibson Brands 4.5%
- No. 6 Pearl River 2.8%
- No. 7 inMusic 1.2%
- No. 8 Stanway & Sons 1.0
No. 1 Yamaha is involved in pianos, electronic instruments, wind and percussion instruments, and even guitars. It handles a wide range of musical instruments.
Market share
DEALLAB has estimated the market size of the musical instruments industry to be $9.4 billion in 2020. The data referred to is as follows.
According to the research firm Grand View Research, the size of the musical instruments market in 2018 is $7.5 billion. The growth in demand for pianos, guitars, and digital music devices in general in China is the driver for future growth. Based on the estimated market share in Yamaha’s 2020 Annual Report, the industry size in 2019 is approximately ¥1 trillion.
Types of Instruments
- Keyboard instruments such as piano
- String instruments such as guitar, violin, and cello
- Woodwind instruments such as clarinet and flute
- Brass instruments such as trumpet and horn
- Percussion instruments such as drums
Overview of the leading manufacturer of musical instruments and audio equipment
Yamaha
Founded in 1897 as Nippon Gakki Seisakusho (Japan Musical Instruments Manufacturing Co., Ltd.) by Torakusu Yamaha, Yamaha is a comprehensive manufacturer of musical instruments, including pianos, guitars, harmonicas, and violins. The company changed its name to Yamaha in 1987. Under the leadership of Genichiro Kawakami, it also produced MSX-standard personal computers, resort development, ski boards, tennis rackets, and other products, but has now returned to being a musical instrument and audio manufacturer.
Kawai Musical Instruments Manufacturing Co.
It is a Japanese musical instrument manufacturer founded by Koichi Kawai in 1927. The company is strong in the field of pianos and digital instruments.
Gibson Guitar
Gibson Guitar is a privately held company based in the United States, founded in 1894. It is a dominant player in the guitar field, with famous musicians such as Jimmy Page using the company’s guitars. In 2013, the company acquired Japanese sound manufacturer TEAC as a subsidiary. The company also invested in Japan’s Onkyo, but later sold its stake. Due to fierce competition from Chinese guitars, the company filed for Chapter 11 in 2018 and went out of business; KKR is sponsoring the company’s restructuring.
Fender Musical Instruments
It is a guitar manufacturer based in the United States, founded in 1946. Numerous famous musicians are fans of Fender guitars. Today, the company’s brands include Fender, Squier, Charvel, Gretsch, Jackson, and EVH.
Harman International
Harman International is a music-related manufacturer based in the United States. Its strength lies in audio equipment. It also focuses on car audio for automobiles. In 2016, the company was acquired by Samsung of South Korea.
Roland
Founded in 1972 by Ikutaro Tada, the company is one of Japan’s leading manufacturers of musical instruments, specializing in electronic pianos, synthesizers, and drums. In 2014, the company underwent an MBO sponsored by investment fund Taiyo Pacific Partners and was re-listed in 2020.
Steinway & Son
Steinway & Son is a piano manufacturer based in the United States. It is also one of the three largest piano companies in the world. The company manufactures Steinway & Son pianos, Bach Stradivarius trumpets, C.G. Conn French horns, and Leblanc clarinets.
Sennheiser
Sennheiser is a leading audio manufacturer based in Germany. It has an established reputation for headphones and microphones.
C.F. Martin & Company
C.F. Martin & Company is a well-established manufacturer of acoustic guitars based in the United States, founded in 1833.
Samick Musical Instruments
Samick Musical Instruments is a comprehensive musical instrument manufacturer based in Korea.
