Turntables Market Size, Share, Growth, and Industry Analysis, By Type (Direct-drive Turntable, Belt-drive Turntable, & Idler-wheel Turntable), By Application (Home Entertainment, Bar and Music Club, & Music Production) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

TURNTABLES MARKET REPORT OVERVIEW

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The global turntables market size was USD 355.4 million in 2019 and the market is projected to touch USD 476.5 million by 2026, exhibiting a CAGR of 4.2% during the forecast period.

The turntables market is seeing a revival as a result of a mix of nostalgia, the vinyl's revival process, and the latest technology that make listening more enjoyable. People, who are audiophiles or even casual music listeners, are getting more interested in the tangible and sonic experience vinyl provides, so they choose it instead of digital music which fails to involve the user like vinyl. The manufacturers are integrating modern features such as Bluetooth connectivity, USB ports for digital archiving and better quality sound of turntables in classic turntable designs to meet the demand of the people. With the mix of retro-ness of vinyl with contemporary technology, the turntable-market has expanded further, and this appeals to older generations who remember the golden nostalgic days of vinyl and to the younger lot discovering the unique sound of vinyl for the first time.

Further, market growth has also benefited from colorful music culture and a vibrant culture of DJs. It cannot be overlooked that turntables take the center stage as a crucial element in the DJ equipment industry wherein there is a high demand for well-built, resilient and feature-packed turntables. This is not only about playing music, but it is also the technique of mixing, scratching, and sonically creating sounds that relate to the audiences during live sets and recordings. In terms of the shifting mainstream music scene accompanied with increasingly popular vinyl DJing in rave, nightclubs, and parties, the deck has been one of the basic music culture components. As manufacturing companies keep on innovating and providing solutions for the high-end audiophile market and hardy DJ scene, the turntables market will also keep on growing as both its legacy and its adaptability to new trends and advances in music technologies and technologies will steer the growth of this market.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Lockdown Restrictions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic made a large difference in the turntables market. First, there was a boost in demand for home entertainment products that people used to spend more time at home, with turntables included. Nevertheless, the manufacturing, supply networks, and retail operations experiencing interruptions caused by disruptions resulted in production delays and shortages. Hence alongside the cancellation of events and closing of entertainment venues led demand of the DJs and the music venues down as well. Overall, COVID-19 had a predominantly negative impact on the market due to the several challenges caused due to the implementation of lockdown.

LATEST TRENDS

"Introduction of Sustainable Materials to Reshape the Market"

One of the most significant developments in the turntables market is the shift to more than environmentally-friendly in the manufacturing process. Manufacturers are largely becoming aware of the need to reduce their carbon footprint. They are evidently adding renewable materials such as bamboo, reprocessed plastics, and FSC wood, into their record players design. With the move, the industry matches the values of consumers and also aligns with a wider industry commitment to sustainability, allowing music fans to have a good time listening to their favorite tunes as well as being part of and supporting environmentally responsible practices.

TURNTABLES MARKET SEGMENTATION

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By Type

Based on type the global market can be categorised into Direct-drive Turntable, Belt-drive Turntable, & Idler-wheel Turntable.

• Direct-drive turntables: They feature a platter that is directly connected to the motor, offering quick start times and consistent speed, making them a preferred choice for DJs and professionals seeking precise control.

• Belt-drive turntables: They use an elastic belt to connect the motor to the platter, reducing motor noise transmission and providing a higher fidelity sound, ideal for audiophiles and home listening.

• Idler-wheel turntables: They are less common in modern designs, and utilize a rubber wheel that transfers motion from the motor to the platter; they were popular in vintage models for their robustness but can introduce more noise and variability in speed compared to their modern counterparts.

By Application

Based on application the global market can be categorised into Home Entertainment, Bar and Music Club, & Music Production.

• Home Entertainment: It represents the largest segment, where turntables are used by individuals and families to enjoy vinyl records in the comfort of their homes, appealing to both audiophiles seeking high-fidelity sound and casual listeners enjoying the vinyl resurgence.

• Bar and Music Club: This category encompasses establishments that use turntables to create atmospheric music and DJ performances, valuing durability and the ability to manipulate music live.

• Music Production: It is another critical segment, where turntables are utilized by professionals in studios to produce, mix, and master recordings, requiring precise control and high-quality sound output.

DRIVING FACTORS

"Ongoing Vinyl Revival to Fuel the Market Growth"

An important driver of the turntable market growth is the sustained vinyl renaissance that is winning a lot of people over to collect and play vinyl records, for the core qualities of possessing the physical material and nostalgic experience it offers. This revival, however, is not only driven by aged audiences consciously re-discovering the music that used to define their youth, but also by their younger counterparts, attracted by the nostalgic vinyl culture and its exotic sound. Though the digital format provides a platform for music consumption, vinyl has maintained its position in terms of offering a one-of-a-kind listening experience that cannot be matched by its competitors. The renewed interest in vinyl records has caused the demand for turntables to rise, hence, as manufacturers race to the top, they are making variations of the original design and incorporating the old design with modern technology for the aggressive perfection of the sound quality and wearability of the modern consumer.

"Enhanced User Experience through Technological Advancements to Drive Demand in the Market"

The other reason why the turntables market is growing is the technological progress that makes the process of the users using it enjoyable. In today’s market, the modern turntables come inbuilt with USB connectivity, Bluetooth streaming and in-built preamps which make their use convenient and versatile for a wider audience. They provide users with a simple way to digitize their vinyl records, stream wirelessly, and hear music on their chosen speakers or headphones without having to configure complicated setups. These modern technologies have been used to package turntables and, in the process, make them more appealing to consumers who want the analog sound of vinyl and the convenience of the digital music formats. This combination of old and new technology responds to the changing tastes of music fans which provides a propulsion to the market growth.

RESTRAINING FACTORS

"High Cost of Adoption to Impede the Market Expansion"

There is one important aspect that might affect the turntables market as the high price of premium brands is a factor. Acquiring a top of the line turntable and the additional accessories like speakers, amplifiers, and a wide variety of vinyl records collection can be quite an investment that is not favourable to many enthusiasts who are on a budget. These barriers to accessibility by not limiting the target audience to audiophiles and the well-off music listeners simply affects market growth as they run the risk of the market being restricted to those with deep pockets. Thus, the high investment costs for a turntable system of excellent quality make the available market supply of turntables difficult to enlarge.

TURNTABLES MARKET REGIONAL INSIGHTS

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"North America Leads the Market with Strong Music Culture"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America holds the largest turntable market share, mainly for the reasons of the region’s strong music culture, average disposable incomes, and the returning of vinyl records as the favorite medium of music consumption. Vinyl sales both in the United States and all over the world have been on the upswing. The American market, in particular, experienced a surge of interest in the vinyl format due to the emergence of the collectors’ and audiophiles’ community. One of the reasons for it is the fact that the market is well-covered by a broad network of factories, shops, and a rather large audience. Furthermore, the fact that many artists and music production studios choose analog sound quality and the presence of them in this region is an additional reason behind this region leading the global turntables market.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The main turntable market players have an important impact on the turntables market. Such companies keep the industry on its toes by introducing new ideas and setting the standards that must be met by manufacturers of audio equipment, from quality entry-level turntables to professional type turntables. It cannot be overstated that the contributions of these market leaders are critical, as they are involved not only in technological advancements but also to determine consumer preferences and define market trends, thus keeping the turntables business alive and meaningful.

List of Market Players Profiled

• Pro-ject (Austria)
• Crosley (U.S.)
• Audio-Technica (Japan)
• Sony (Japan)
• Teac (Japan)
• Denon (Japan)
• Thorens (Switzerland)

INDUSTRIAL DEVELOPMENT

February 2023: Direct-drive turntables with improved torque and stability have been one of the several latest innovations in the market. Several manufacturers have released new direct-drive turntables that boast improvements in torque and stability. Hence allowing smoother operation, reduced cogging (jerky movements), and potentially lower noise levels.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.