The global percussion instruments market size was valued at USD 1.48 billion in 2021 and is projected to reach USD 1.69 billion by 2030, registering a CAGR of 1.47% from 2022 to 2030. A musical instrument is considered to be a percussion instrument if it produces sound when it is struck or scraped by a beater, such as attached or enclosed beaters or rattles, when it is struck, scraped, or rubbed by hand, or when it is struck against another instrument that produces a sound that is similar to that of the percussion instrument.
The demand for percussion instruments is being driven by an increase in the proportion of music enthusiasts who have an interest in purchasing percussion instruments, as well as an increase in the proportion of professionals who have an interest in purchasing percussion instruments as a result of an increase in the number of musical events. Instruments used for percussion are extremely important because they are responsible for maintaining the song's rhythm and creating a unified sound with the other instruments. It is beneficial to children's musical development for their parents or teachers to encourage them to start playing musical instruments at a young age.
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Growing interest among music enthusiasts due to growing social media
Due to the fact that it is one of the oldest instruments still being played, percussion instruments are regarded to be the backbone of the music industry. Because of the widespread acceptance of these instruments, it plays an essential role in virtually every type of music, including jazz, pop, rock, and even orchestral music. Timpani, snare drum, cymbals, triangle, tambourine, gongs, maracas, and celesta are just few of the more well-known percussion instruments. The demand for percussion instruments is being fueled by the increase in the number of people learning music as well as the increased interest among music fans as a result of the growth of social media. The younger population is being inspired to pursue music as a result of an increase in the number of musical events and live concerts, which in turn is boosting demand for percussion instruments.
A complication of the instrument
The percussion section of an orchestral band is the most difficult to master since percussionists are expected to play a wide variety of instruments, each of which, despite appearances to the contrary, comes with its own unique set of challenges. When played just for recreational purposes, these instruments are simple and straightforward to use. Therefore, a higher level of technical understanding of instruments is required to play these instruments, which has the potential to inhibit the market's growth in the future.
Rising demand from marching bands and military events
Opportunities for increasing sales in the business are being created as a result of the growing demand for percussion instruments from marching bands. The expansion of the percussions market on a global scale can be attributed to the increased demand for drums and other instruments during military events such as marching bands. The introduction of innovative products along with technical progress made by manufacturing businesses is soon going to further fuel the expansion of the market.
In 2021, the professional segment dominated the market and contributed for about 65.0% of the total revenue. The segment is anticipated to experience considerable growth during the forecast period. Increasing multiday music events, a rising music industry, the significance of percussion instruments in music, and the expanding employment of these instruments by top performers all contribute to the capture of a considerable market share.
From 2022 to 2028, the educational segment is anticipated to experience the highest CAGR of 1.5%. The segment's growth is driven by the increase in the number of music institutions and the rising popularity of musical instruments among children. The market demand is fueled by manufacturing businesses' help to music schools, rising interest in establishing new music institutions, and internet support for the same.
In 2021, the traditional percussion instrument segment had the highest revenue share at nearly 79.0%. The segment is anticipated to grow at a CAGR of 0.9% between 2022 and 2028. Due to their capacity to produce natural sound, a number of consumers favour traditional instruments. A growth in the number of live events and the proliferation of social media music channels has led to an increase in the popularity of traditional instruments among amateurs and professionals.
From 2022 to 2028, the segment of electronic percussion instruments is anticipated to experience the highest CAGR of over 1.5%. The increase in product innovation of electronic percussion instruments by manufacturing businesses and the demand from experts are expected to propel the segment's market expansion. The hands, sticks, mallets, or brushes are used to play these electronic instruments. Electronic drums are extremely popular among electronic percussion instruments, and their demand on the global market is expanding.
The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.
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In 2021, North America held a dominant position in the market for percussion instruments and was responsible for the biggest revenue share, which was 34.4%. The market sector is anticipated to increase at a compound annual growth rate of 0.9% during the years 2022 and 2028. It is anticipated that there will be an increase in demand for percussion instruments due to the existence of high-performing brands, high purchasing power, the existence of a large music industry, a large number of individuals who are music enthusiasts, and an increasing number of live music performances.
It is anticipated that the market would expand at a compound annual growth rate of 1.6% from 2022 to 2028 in the Asia Pacific region. It is anticipated that the expanding music industry as well as live concerts will help to boost sales of percussion instruments in this region. There has been a growing preference for children to begin playing musical instruments at an earlier age, which has led to an increase in the amount of discretionary income.
In January 2020, Gretsch Drums introduced the USA custom limited River Cypress kit. It has been handcrafted at the Gretsch factory in the U.S. and is available in limited quantities
In April 2020, BD Performing Arts (BDPA) and Conn-Selmer, Inc. announced that RCC Indoor, The Blue Devils, and all other programs would be performed exclusively on instruments distributed and manufactured by Conn-Selmer, Inc. The joined forces are expected to support the advancement of excellence in arts through new product development and educational events under Conn-Selmer Marching brands.