India Western Musical Instruments Market Forecasted to Cross INR 542 Crore by 2017
The India western music instrument industry is fuelled by rising levels of consumer income, and increased interest in leisure activities.
Indian culture has been attached with music since long time, with traditional Indian music being the most famous among Indians till the time globalization hit the country. Western culture followers are increasing in India due to adoptive nature of Indian consumers. Increasing globalization & increasing use of internet have resulted in changing the taste of music lovers; ultimately influencing their musical instrument choices. Gradually, the appetite for playing western music instrument has been fulfilled with the increase in number of western music schools.
According to recently published report of TechSci Research, “India Western Musical Instruments Market Forecast and Opportunities, 2017”, India western musical instruments market is anticipated to cross INR 542 Crore revenues by the year 2017. Increasing western music lovers, disposable income of Indian consumers, availability of the western music instruments, digitalization of the instruments and decreasing cost of instruments are the major factors which are driving this market upwards. India western musical instruments market had the highest contribution from keyboard instruments in 2011.
Yamaha has been the dominating player in India western musical instruments market, as it offers products in each segment of the musical instruments. Other companies like Casio, Roland, Fender, Pearl, Zildjian, etc are specialized in specific segment. In 2011, string instruments market had maximum contribution from acoustic guitars with 54.55% of the total revenues. Northern & western regions of India have together contributed 61% of the total volume sales of western musical instruments in 2011. Again, western musical instruments had major sales contribution from metro cities however; sales from tier-2 & tier-3 cities are also growing at a rapid pace. Among all the western musical instruments, sales volume of guitar has been the highest. In India, the production of Indian musical instruments is massive as a result of which India exports many of its Indian musical instruments. In the past few years, Indian companies have started producing western musical instruments like Guitars, Violins, etc. which is increasing gradually.
“India Western Musical Instruments Market Forecast and Opportunities, 2017” gives a detailed unbiased and unprejudiced overview on the western musical instruments market in India. This report will help readers to identify the on-going trends in the industry and anticipated growth in the coming years as a consequence of rapidly changing industry dynamics. The report will help industry consultants, musical instruments manufacturers and other stakeholders to align their market-centric strategies according to on-going and expected future trends.