The worldwide violin industry is expected to grow remarkably in the next several years, driven by growing use of music instruments in educational institutions. The music sector is also anticipated to present lucrative opportunities for suppliers, considering the wide application of the product in the music industry.
Violins are chordophones made of wood. It is made with hollow bodies of wood and is an important part of the instrument family. It is small in size and produces the highest pitch. It usually has four strings, most of which are tuned in perfect fifths with notes D4, E5, A4, and G3. It is mostly played by moving a bow across its strings. A user can also play it with fingers by plucking its strings. It is widely used in western classical music in solos and ensembles. It is an important instrument in the music industry. It plays a significant role in various music types, such as jazz, bluegrass, and country music. Playing musical instrument helps percussion players in balancing their health, muscles, and mental illness. Music influences and entertains the user in the music industry, which plays a vital role in expanding musical instruments. The global market is expected to grow in the foreseeable future owing to the rising demand for the instrument backed by the easy availability of the product coupled with the growing size of the music industry. The growing hunger for learning new skills is anticipated to foster market growth.
According to a research study by Business Research Insights, the global Violin industry is projected to rise at a CAGR of 2.3% during 2022-2028. By 2022, the market value is forecasted to stand at USD 340.3 million.
Launch of Advanced Product to Expand Market Growth
Violins are now available in electric and acoustic variants. The electric instruments have a minimalist and non-traditional design and are lighter in weight than other musical instruments. The standard design of these instrument boosts the adoption of the product at a steady rate. The population rapidly adopts the instrument by virtue of its eye-catchy designs and sympathetic strings. The increasing adoption of the product in the new age population is expected to foster major market growth. Additionally, the educational institutions and music companies offer music lessons to the students at a very young age. These factors may boost the market growth.
Business Research Insights Presents the Top 5 Prominent Players in the Violin Industry
- Yamaha- the company was founded in 2008 Yamaha Music is headquartered in Gurgaon, Haryana and began producing reed organs. Its foundations were established in 1966 and generated a wide range of music activities worldwide. It includes Yamaha music schools, and Junior Original Concert. The company offers a place for learning music and setting opportunities for their own compositions. The company produces and distributes various musical instruments and violin is one of the major products.
- Franz Sandner- was founded by Franz Sandner in 1924. He was a violin maker and thus, decided to establish a company in Germany. In 1958, the daughter of Franz Sandner and her husband joined the company and established its foundation to enter the global market. Later, their son took over and achieved sustainable success. The company now sells music instruments in 60 countries globally.
- Stentor- is a public class company launched in 1999 and is situated in Secunderabad, Telangana. It was established by Edward Chapman Doughty, a music professor and a minor composer. He named it the “Harmonic Publishing Co” and used the “Stentor” name as its brand name for music strings and rosin. The company now produces various stringed instruments and is one of the global market leaders in the music industry.
- Violin Lab- the company was founded by Beth Blackerby, who was a violin instructor at a University in Georgetown, Texas. She completed Bachelors of Music from the University of Louisville and Master’s degrees from the University of Wisconsin. Beth Blackerby, as a music instructor helped hundreds of people in learning violin. She later developed the company in 2009. The headquarters of the company is located in the United states.
- Jinyin Musical- is one of the leading musical instrument manufacturers in China. The company was founded in 1989. The company manufactures various musical instruments such as bass, clarinet, guitar, flute, case, violin, trumpet, oboe, and trombone. It is known among the leading manufacturers of musical instruments.
Supply Chain Disruption Retarded Market Growth During Pandemic
The disruption of the demand and supply chains prevented the market from growing.
The market was affected by the pandemic outbreak, and had a long-lasting impression on its expansion. Construction, the production of consumer goods, and other activities were stopped by the market, which is predicted to impede the market's expansion. The supply chain for the products was disrupted by the global shutdown of the commercial goods activities. Due to the product's slower manufacturing pace, the demand for it could not be met. The pandemic outbreak hindered the expansion of the market.