Musical Instrument Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/19/2016
SIC Codes: 3931
NAICS Codes: 339992
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Musical Instrument Manufacturing Industry Profile

Companies in this industry are primarily engaged in the manufacture of musical instruments. Major companies include Fender, Gibson Guitar, and Steinway (all based in the US), as well as Kawai, Roland, and Yamaha (all based in Japan).

The global market for musical instruments and audio gear is worth some $17 billion, according to The Music Trades. The US, China, Taiwan, Japan, Indonesia, and South Korea together manufacture about 90% of the world's music and audio gear. Brazil is among the fastest-growing markets for the industry.

The US musical instrument manufacturing industry includes about 570 companies with combined annual revenue of about $2 billion.


Demand is largely driven by consumer income and education demographics. The profitability of individual companies depends on cost efficiencies. Many large companies benefit by offering a wide range of products. Small companies can compete effectively by specializing in high-end or niche instruments. The industry is highly concentrated: the 50 largest companies generate more than 80 percent of revenue.


Major products are string instruments (including violins and guitars), electronic keyboards, pianos, and woodwinds. Other products include brass wind instruments, percussion instruments, and organs. Replacement parts and accessories, such as strings, mouthpieces, and music stands, account for a significant portion of industry sales.

Lower-cost instruments are often made on assembly lines, while higher-quality instruments are produced at clusters of workstations. Typical tools include cutting tools, molds, sanders, lathes, presses, and drills. ...

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