Musical Instrument Market Overview in the USA
In value terms, musical instrument production amounted to $ in . The total output value increased at an average annual rate of +% over the period from 2013 to ; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of % against the previous year. Musical instrument production peaked at $ in 2018; afterwards, it flattened through to .
The size of the musical instrument market in the U.S. declined to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the market value increased by % against the previous year. Over the period under review, the market hit record highs at $ in 2019, and then reduced in the following year.