Global Turntable Market Forecast to 2028
The most recent report from Emergen Research, “World Turntable Market,” was painstakingly created with the reader’s comprehension in mind. It includes a comprehensive database of industry distribution. The study examines past and current market conditions to forecast the Turntable market’s prospects for the near future (2021–2028). The factors influencing the market’s overall expansion were the main focus of the researchers’ in-depth examination of the global market. The research employs potent analytical techniques like SWOT analysis and Porter’s Five Forces to analyze the strengths, weaknesses, opportunities, and threats connected to the expansion of various market segments.
The global turntable market size reached USD 361.6 Million in 2020 and is expected to register a CAGR of 4.4% during the forecast period. The trend and popularity of having a DJ in the house playing live music are expected to continue to drive global turntable market revenue growth. Electronic Dance Music (EDM) has been around for a while but has been gaining traction among a steadily and massively increasing fan base. In addition, the trend has been gaining traction among an increasing number of newer individuals and DJs, and many of these are in their teens. The ability to purchase turntables is based on capacity to spend, and a number of DJs prefer to rent equipment for shows, either live shows, recordings for events, or music vlogs. Turntables have also evolved considerably since the advent of the record player. The availability of high-quality beats and samples and the rising fan following of the EDM genre among young musicians are other factors supporting market growth. Various unknown musicians have risen and launched their careers in this genre. This clearly indicates that EDM is no longer considered underground or a fad but has entered the mainstream, which is expected to continue to increase demand for turntables.
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Competitive Terrain:
The global Turntable industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Sound United, LLC, inMusic Inc., Clear Audio Electronic GmbH, Panasonic Corporation, Thorens, Pro-Ject Audio Systems, Audio-Technica Corporation, TEAC Corporation, Sony Group Corporation, Crosley Radio
Research Report on the Turntable Market Addresses the Following Key Questions:
Who are the dominant players of the Turntable market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Turntable market?
What are the key growth drivers and restraining factors of the Turntable market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Turntable market and its key segments?
Market Overview:
The report bifurcates the Turntable market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Type Outlook (Revenue, USD Million; 2018–2028)
Belt Drive
Direct Drive
Idler Wheel
DJ
Cartridges Outlook (Revenue, USD Million; 2018–2028)
Moving Magnet
Moving Coil
Application Outlook (Revenue, USD Million; 2018–2028)
Residential
Music Composition
Music Clubs and Bars
Concerts
Others
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Regional Landscape section of the Turntable report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights in the Report:
DJ segment revenue is expected to expand at a significant revenue CAGR over the forecast period attributed to rising popularity of DJ music across the globe, increasing demand for turntables from new and emerging DJs, and growing trend of in-house DJ and live music shows.
Moving magnet segment accounted for largest revenue share in the global market in 2020 and is expected to register significant revenue growth over the forecast period. Moving magnet design is durable, is equipped with a user-replaceable stylus, and delivers moderate to high output level which have increased their adoption in home stereo systems and is expected to contribute to revenue growth of the segment going ahead.
Music composition segment is expected to register considerable revenue growth over the forecast period owing to increasing use of turntables for hip-hop, classical, or EDM music composition.
North America is expected to dominate other regions in terms of revenue over the forecast period attributed to rising popularity and trend of DJ music, presence of large number of music clubs and bars, and increasing number of live shows, music concerts, and music shows in the region.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Turntable market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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