Musical Instrument Market in the United States
Market Overview
The U.S. musical instrument market rose remarkably to $
in , picking up 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 +% from 2013 to ; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.
In value terms, musical instrument production declined to $ in . The total output value increased at an average annual rate of +% from 2013 to ; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in when the production volume increased by % against the previous year. As a result, production reached the peak level of $, and then reduced in the following year.
in , picking up 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 +% from 2013 to ; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.In value terms, musical instrument production declined to $
in . The total output value increased at an average annual rate of +% from 2013 to ; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in when the production volume increased by % against the previous year. As a result, production reached the peak level of $, and then reduced in the following year.Consumption
In , approx. tons of musical instruments were consumed in the United States; rising by % against the year before. In general, the total consumption indicated a strong increase from 2013 to : its volume increased at an average annual rate of +% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2013 indices. Over the period under review, consumption hit record highs in and is likely to continue growth in the immediate term.
The size of the musical instrument market in the United States stood at $ in , surging 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 ; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in and is expected to retain growth in years to come.
, approx. tons of musical instruments were consumed in the United States; rising by % against the year before. In general, the total consumption indicated a strong increase from 2013 to : its volume increased at an average annual rate of +% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2013 indices. Over the period under review, consumption hit record highs in and is likely to continue growth in the immediate term.The size of the musical instrument market in the United States stood at $
in , surging 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 ; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in and is expected to retain growth in years to come.Market Forecast
Driven by increasing demand for musical instruments in the United States, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Trade Balance
The United States remains a net importer of musical instrument; in physical and value terms, imports consistently exceeded exports from 2013 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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