Stratview Research has published a new report titled “Modern Piano Market” which is segmented By Product Type (Upright Piano, Grand Piano), Application (Concert Hall, Opera, Music School, Others) and Region.
As per the study, an increase in the number of music concerts and stage performances is an important factor fuelling the product demand across geographies. The growth of the global modern piano market is primarily driven by the expanding entertainment and media industry. Growing consumer preference for high-quality products coupled with rising per capita disposable income is likely to propel the market growth. The market players are emphasizing investments in research and development activities to develop more innovative products which are likely to bolster the market growth further.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Based on product type, the market has been segmented into upright piano and grand piano. The upright piano, also known as vertical piano stands perpendicular to the ground. The upright piano has small soundboards and shorter strings. Grand piano is the most expensive and largest type of piano. It has a greater soundboard area and longer strings. The pianists using the grand piano have more control over tone and dynamics as compared to an upright piano.
Geographically, the market in North America accounted for the largest market share in 2020 owing to the high demand for innovative and customized products. The market in Europe is expected to grow at a healthy CAGR due to the presence of various key market players and high demand for premium quality products. This market growth can be attributed to increasing product demand in countries including China and India. Increasing investment by the government in China on building infrastructure for the musical sector is likely to drive the market growth significantly in the region.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Modern Piano Market:
- Steinway Sons (The U.S.),
- ROSLER (China), The Baldwin Piano Company (The U.S.),
- Bösendorfer (Austria),
- Fazioli (Italy),
- Yamaha Corporation (Japan),
- Seiler Pianofortefabrik GmbH (Germany),
- HDC YoungChang (South Korea),
- Bechstein Pianoforte AG (Germany), and
- Kawai Musical Instruments Manufacturing Co., Ltd. (Japan).
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