Musical Instruments Market Poised for Significant Growth, Forecasted to Reach $22.2 Billion by 2032 [Yahoo! Finance]
YAMAHA CORP S/ADR (YAMCY)
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Source: Yahoo! Finance
The latest comprehensive research on the global musical instruments market unveils critical insights into the industry and its future trajectory. According to the study, the market, which was valued at approximately $13.6 billion in 2022, is anticipated to expand significantly and is projected to reach a notable value of $22.2 billion by the year 2032. The report highlights the market dynamics across various regions with a detailed outlook on the economic performance of each sector within those regions. During the timeline from 2017 to 2022, termed the historical period in the report, the industry experienced a compound annual growth rate of 1.7%. The momentum is expected to pick up, resulting in a growth rate of 4.2% from 2022 to 2027. Following this period, the forecast suggests an even more accelerated growth pattern, with the market expanding at a CAGR of 5.8% up until 2032. Growth Facilitators and Market Segmentation The increase in the market size has been attributed to s
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