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Piano Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

  • Published: May 2022
  • Pages: 120
  • SKU: IRTNTR40232
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The piano market share is expected to increase by USD 297.28 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.33%.

This piano market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers piano market segmentation by product (acoustic piano and digital piano) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The piano market report also offers information on several market vendors, including AUGUST FORSTER GmbH, C. Bechstein Pianoforte AG, Carl Sauter Pianofortemanufaktur GmbH and Co. KG, CASIO Computer Co. Ltd., Fazioli Pianoforti spa, GROTRIAN PIANO COMPANY GmbH, Guangzhou Pearl River Piano Group Co. Ltd., Julius Bluthner Pianofortefabrik GmbH, Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., Mason and Hamlin Piano Co., PETROF Spol s.r.o., Roland Corp., Samick Music Corp., SCHULZE POLLMANN PIANOFORTI SRL, Steingraeber and Sohne KG, Steinway Inc., Stuart and Sons, Wilhelm Schimmel Pianofortefabrik GmbH, and Yamaha Corp. among others.

What will the Piano Market Size be During the Forecast Period?

Piano Market Size

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Piano Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The inclusion of music in academic curricula is notably driving the piano market growth, although factors such as the availability of music production software may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the piano industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Piano Market Driver

 

  • One of the key factors driving growth in the piano market is the inclusion of music in academic curricula.
  • Extracurricular activities play a vital role in the lives of students. Students who participate in such activities meet new people, which improves their social skills and cultural understanding.
  • Participation in extracurricular activities also enables students to acquire various essential life skills, such as multitasking, teamwork, time management, prioritization, problem-solving, analytical thinking, leadership, and public speaking.
  • Several schools, colleges, and universities across the world, especially international schools and colleges are including extracurricular activities and add-on courses, such as music, in their curricula.
  • The rising number of school enrollments will increase participation in extracurricular activities such as music. Therefore, the number of students enrolling in music courses to learn to play musical instruments such as pianos is expected to increase, which, in turn, will drive the growth of the global piano market.

Key Piano Market Trend

 

  • The preference for customized pianos is a piano market trend that is expected to have a positive impact in the coming years.
  • Customized products have gained popularity in various developed regions, such as the Americas and Europe, and in emerging countries, such as India and China.
  • The demand for customized musical instruments, including pianos, has increased as customization makes such instruments unique and different.
  • Customized pianos are visually appealing and are of high quality. The customization of pianos can vary from color to specialty finishes, monograms, inlays, and designs. Such customization options allow customers to personalize their pianos.
  • Personalized pianos are more expensive than standard pianos, and some vendors even take up to 12 months to manufacture personalized pianos. Despite such challenges, the customization and personalization of pianos are expected to drive the growth of the global piano market.

Key Piano Market Challenge

 

  • The availability of music production software will be a major challenge for the piano market during the forecast period.
  • Music production software is a direct substitute for different types of musical instruments, such as pianos. Such software has various options which enable users to compose music that is similar to the music produced by professional musicians.
  • Music production software enables amateurs to produce music without training. Such software is versatile and offers a wide range of sounds. They also cost less than various types of musical instruments, such as pianos.
  • The use of such software enables mobility and allows the recording of music in different environments.
  • Apple Inc. (Apple), a global manufacturer of laptops, offers the GarageBand music production software. The software offers a fully functional music creation studio. It has a complete sound library that is equipped with instrument presets for pianos and voice, as well as a wide selection of session drummers and percussionists.
  • The preference for music production software is likely to hamper the growth of the global piano market.

This piano market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global piano market as a part of the global leisure products industry within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the piano market during the forecast period.

Who are the Major Piano Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • AUGUST FORSTER GmbH
  • C. Bechstein Pianoforte AG
  • Carl Sauter Pianofortemanufaktur GmbH and Co. KG
  • CASIO Computer Co. Ltd.
  • Fazioli Pianoforti spa
  • GROTRIAN PIANO COMPANY GmbH
  • Guangzhou Pearl River Piano Group Co. Ltd.
  • Julius Bluthner Pianofortefabrik GmbH
  • Kawai Musical Instruments Mfg. Co. Ltd.
  • KORG Inc.
  • Mason and Hamlin Piano Co.
  • PETROF Spol s.r.o.
  • Roland Corp.
  • Samick Music Corp.
  • SCHULZE POLLMANN PIANOFORTI SRL
  • Steingraeber and Sohne KG
  • Steinway Inc.
  • Stuart and Sons
  • Wilhelm Schimmel Pianofortefabrik GmbH
  • Yamaha Corp.

 

This statistical study of the piano market encompasses successful business strategies deployed by the key vendors. The piano market is fragmented and the vendors are deploying growth strategies such as focusing on building brand equity to differentiate themselves compete in the market.

Product Insights and News

  • bechstein.com - The company offers pianos in upright and grand models under the brand names Concert, Academy, W.Hoffmann and Zimmermann.

  • bechstein.com - Under the unified segment, the company manufactures a full range of pianos for all budgets, that meet the requirements of professional pianists, musical institutions and private music lovers alike.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The piano market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Piano Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the piano market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Piano Market?

Piano Market Market segmentation by region

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37% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for pianos in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The implementation of integrated curricula by an increasing number of schools will facilitate the piano market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic negatively impacted the operations of piano retailers in APAC. Various retailers and brands in the regional piano market faced short-term challenges related to cash flows, supply chains, health and safety, and consumer demand. Countries such as China and Japan witnessed a 10%-20% growth in e-commerce sales in 2021 compared to 2020. Hence, many retail businesses heavily relied on online delivery options to keep their business afloat. Additionally, the initiation of vaccination drives led to the lifting of restrictions such as social gatherings. This has resulted in a rise in the number of concerts, which has increased the demand for pianos in the region. Such factors are expected to drive the growth of the regional piano market during the forecast period.

What are the Revenue-generating Product Segments in the Piano Market?

Piano Market Segmentation

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The piano market share growth by the acoustic piano segment will be significant during the forecast period. The average selling cost of acoustic pianos is higher than digital pianos. Acoustic pianos also require regular maintenance. Their strings are prone to damage and might require frequent tuning. Despite such needs, most musicians prefer acoustic pianos, owing to the sound quality and musical expression of such pianos. These factors will drive the growth of the acoustic pianos segment of the global piano market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the piano market size and actionable market insights on post COVID-19 impact on each segment.

 

Piano Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 2.33%

Market growth 2022-2026

$ 297.28 million

Market structure

Fragmented

YoY growth (%)

1.83

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 37%

Key consumer countries

US, Canada, Japan, China, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AUGUST FORSTER GmbH, C. Bechstein Pianoforte AG, Carl Sauter Pianofortemanufaktur GmbH and Co. KG, CASIO Computer Co. Ltd., Fazioli Pianoforti spa, GROTRIAN PIANO COMPANY GmbH, Guangzhou Pearl River Piano Group Co. Ltd., Julius Bluthner Pianofortefabrik GmbH, Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., Mason and Hamlin Piano Co., PETROF Spol s.r.o., Roland Corp., Samick Music Corp., SCHULZE POLLMANN PIANOFORTI SRL, Steingraeber and Sohne KG, Steinway Inc., Stuart and Sons, Wilhelm Schimmel Pianofortefabrik GmbH, and Yamaha Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

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What are the Key Data Covered in this Piano Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive piano market growth during the next five years
  • Precise estimation of the piano market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the piano industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of piano market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
  • 5.2 Comparison by Product
    • Exhibit 26: Chart on Comparison by Product
    • Exhibit 27: Data Table on Comparison by Product
  • 5.3 Acoustic piano - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Acoustic piano - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Acoustic piano - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Acoustic piano - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Acoustic piano - Year-over-year growth 2021-2026 (%)
  • 5.4 Digital piano - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Digital piano - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Digital piano - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Digital piano - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Digital piano - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Product
    • Exhibit 36: Market opportunity by Product ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 North America - Market size and forecast 2021-2026
    • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 APAC - Market size and forecast 2021-2026
    • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 UK - Market size and forecast 2021-2026
    • Exhibit 66: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.10 Canada - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Canada - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Canada - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Canada - Year-over-year growth 2021-2026 (%)
  • 7.11 Japan - Market size and forecast 2021-2026
    • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.12 China - Market size and forecast 2021-2026
    • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 C. Bechstein Pianoforte AG
    • Exhibit 89: C. Bechstein Pianoforte AG - Overview
    • Exhibit 90: C. Bechstein Pianoforte AG - Product / Service
    • Exhibit 91: C. Bechstein Pianoforte AG - Key offerings
  • 10.4 CASIO Computer Co. Ltd.
    • Exhibit 92: CASIO Computer Co. Ltd. - Overview
    • Exhibit 93: CASIO Computer Co. Ltd. - Business segments
    • Exhibit 94: CASIO Computer Co. Ltd. - Key offerings
    • Exhibit 95: CASIO Computer Co. Ltd. - Segment focus
  • 10.5 Fazioli Pianoforti spa
    • Exhibit 96: Fazioli Pianoforti spa - Overview
    • Exhibit 97: Fazioli Pianoforti spa - Product / Service
    • Exhibit 98: Fazioli Pianoforti spa - Key offerings
  • 10.6 GROTRIAN PIANO COMPANY GmbH
    • Exhibit 99: GROTRIAN PIANO COMPANY GmbH - Overview
    • Exhibit 100: GROTRIAN PIANO COMPANY GmbH - Product / Service
    • Exhibit 101: GROTRIAN PIANO COMPANY GmbH - Key offerings
  • 10.7 Kawai Musical Instruments Mfg. Co. Ltd.
    • Exhibit 102: Kawai Musical Instruments Mfg. Co. Ltd. - Overview
    • Exhibit 103: Kawai Musical Instruments Mfg. Co. Ltd. - Product / Service
    • Exhibit 104: Kawai Musical Instruments Mfg. Co. Ltd. - Key offerings
  • 10.8 Mason and Hamlin Piano Co.
    • Exhibit 105: Mason and Hamlin Piano Co. - Overview
    • Exhibit 106: Mason and Hamlin Piano Co. - Product / Service
    • Exhibit 107: Mason and Hamlin Piano Co. - Key offerings
  • 10.9 SCHULZE POLLMANN PIANOFORTI SRL
    • Exhibit 108: SCHULZE POLLMANN PIANOFORTI SRL - Overview
    • Exhibit 109: SCHULZE POLLMANN PIANOFORTI SRL - Product / Service
    • Exhibit 110: SCHULZE POLLMANN PIANOFORTI SRL - Key offerings
  • 10.10 Steinway Inc.
    • Exhibit 111: Steinway Inc. - Overview
    • Exhibit 112: Steinway Inc. - Product / Service
    • Exhibit 113: Steinway Inc. - Key offerings
  • 10.11 Wilhelm Schimmel Pianofortefabrik GmbH
    • Exhibit 114: Wilhelm Schimmel Pianofortefabrik GmbH - Overview
    • Exhibit 115: Wilhelm Schimmel Pianofortefabrik GmbH - Product / Service
    • Exhibit 116: Wilhelm Schimmel Pianofortefabrik GmbH - Key offerings
  • 10.12 Yamaha Corp.
    • Exhibit 117: Yamaha Corp. - Overview
    • Exhibit 118: Yamaha Corp. - Business segments
    • Exhibit 119: Yamaha Corp. - Key news
    • Exhibit 120: Yamaha Corp. - Key offerings
    • Exhibit 121: Yamaha Corp. - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 122: Inclusions checklist
    • Exhibit 123: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 124: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 125: Research methodology
    • Exhibit 126: Validation techniques employed for market sizing
    • Exhibit 127: Information sources
  • 11.5 List of abbreviations
    • Exhibit 128: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Piano Market market growth will increase by $297.28 mn during 2022-2026.
The piano market market is expected to grow at a CAGR of 2.33% during 2022-2026.
Technavio has segmented the piano market market by product (Acoustic piano and Digital piano) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
AUGUST FORSTER GmbH, C. Bechstein Pianoforte AG, Carl Sauter Pianofortemanufaktur GmbH and Co. KG, CASIO Computer Co. Ltd., Fazioli Pianoforti spa, GROTRIAN PIANO COMPANY GmbH, Guangzhou Pearl River Piano Group Co. Ltd., Julius Bluthner Pianofortefabrik GmbH, Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., Mason and Hamlin Piano Co., PETROF Spol s.r.o., Roland Corp., Samick Music Corp., SCHULZE POLLMANN PIANOFORTI SRL, Steingraeber and Sohne KG, Steinway Inc., Stuart and Sons, Wilhelm Schimmel Pianofortefabrik GmbH, Yamaha Corp. are a few of the key vendors in the piano market market.
APAC will register the highest growth rate of 37% among the other regions. Therefore, the piano market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the piano market market growth are:
  • Inclusion of music in academic curricula
  • Preference for customized pianos
The piano market market vendors should focus on grabbing business opportunities from the acoustic piano segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
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  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
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  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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