The market is dominated by domestic suppliers, as imports account for 24.1% of total market size in 2023. Households drive market demand, with household spending representing 83.7% of total demand in 2023. The US has the largest market size for musical instruments across the top 20 developed countries, with demand reaching USD16.1 billion in 2023. Yamaha Corp of America is the largest company in the US, generating 14.7% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 40.5% of total production value in 2023. The total number of companies increases in 2023, to 3,280 units. The costs of the industry increase by 1.7% in 2023, largely driven by rising labour costs. The industry’s profitability increases and stands at 15.7% of production value in 2023, the ninth highest across the top 20 developed countries. The industry’s exports share increases in 2023 to 5.5% of total production output. With production value of USD2.7 billion, the US accounts for 87.2% of the North America total in 2023.
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This Euromonitor industrial report provides unique information on Musical Instruments in the US: ISIC 3692. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Musical Instruments in the US: ISIC 3692 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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