Electronic & Electromechanical Musical Instruments - Australia

  • Australia
  • In Australia, the revenue generated in the Electronic & Electromechanical Musical Instruments market is projected to reach €53m in 2024.
  • This market segment is expected to experience an annual growth rate of 3.22%, known as the Compound Annual Growth Rate (CAGR), from 2024 to 2029.
  • When compared to other countries, in China leads the global market, generating a revenue of €2,154m in 2024.
  • In terms of per capita revenue, in Australia generates €1.99 per person in 2024.
  • Australia's growing music scene has led to an increased demand for electronic and electromechanical musical instruments, with local musicians embracing the versatility and innovation they offer.

Key regions: Asia, Indonesia, India, United Kingdom, United States

Marché
Région
Comparaison de régions
Monnaie

Revenue

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Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Dec 2024

Source: Statista Market Insights

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Most recent update: Dec 2024

Source: Statista Market Insights

Sales Channels

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Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

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Most recent update: Dec 2024

Source: Statista Market Insights

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

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