Musical instruments were the 87th most traded product category in 2019, with a total trade value of $7.43 billion. Over the past two years, musical instruments’ exports have grown by 3.74%, from $7.17 billion to $7.43 billion. As a result, today, there is a total of 0.041% of world trade of such commodities.
According to 2019 import statistics, the US has the largest number of top music buyers, ranking first in the world with a $1.6 billion import value of musical instruments.
The Highest Imported Musical Instruments
Despite the duty tax that American companies must pay to import musical instruments into the country; the US takes first place in the list of the world’s top music importers each year.
Given below are the different kinds of musical instruments imported the most into the US:
1. Electrical And Electronic Instruments
These are the instruments that use electricity or the concept of electronics to produce or alter the sound.
Among all products traded worldwide, electronic musical instruments rank 686th. The top music importers of electronic instruments import about $446 million worth of instruments every year, which is into the US.
In this category, you will find instruments such as:
- Electric guitars
- Bass guitars
- Synthesizers
- Keyboards
- Electrical Violin
2. Stringed Instruments
A stringed instrument produces sound through the vibration of the stretched strings.
Stringed instruments fall into two categories - regular stringed instruments and instruments that are played with a bow. Although they are not as popular as electronic instruments for trading, they still top the list of musical instrument imports at the second position for the US.
A total of 204.6 million stringed instruments are imported annually by the United States.
In this category, you will find instruments such as:
- Grand pianos
- Acoustic guitar
- Banjo
- Harps
- Ukulele
Instruments played with a bow are:
- Violin
- Cello
- Viola
3. Accessories And Parts
Musical instrument accessories & parts ranked 794th among the world’s most traded products. Taking the spot as the top importer is the U.S., with a total trade value of $197 million.
In this category, you will find instruments such as:
- Pickguards
- Strings
- Microphones
- Headphones
- Tuners
- Reeds
- Radio receivers
4. Percussion Instruments
Musical instruments are played by smacking, thumping, striking or shaking. Percussion instruments come in many different types. The basic skills required to play percussion instruments are similar, so percussionists can play many different instruments. U.S. imports worth $114 million percussion instruments every year.
In this category, you will find instruments such as:
- Drums
- Bells
- Chimes
- Triangles
- Tambourine
- Cymbals
5. Wind Instruments
A musical instrument that produces sound through the primary vibration of air. The structure and sonority of wind instruments are extremely diverse and are known to have influenced the music of all cultures since prehistoric times. Imports of wind instruments to the U.S. totaled $131 million.
In this category, you will find instruments such as:
- Clarinets
- Flutes
- Oboes
- Bassoons
- Piccolos
U.S. Music Industry Imports: What’s Next?
The musical instruments market size was 3534.37 million USD in 2020 and is expected to grow by 4.38% CAGR from 2021-2027. It is anticipated that the number of music buyers (instruments) will rise, which will drive this market's demand.
Learning an instrument at an early age tends to lead to a lifelong love of music. Because of their affinity for music, these users are more likely to choose music as their career. We will see consumers like aspiring music professinalals, recreational players, etc., as the top music buyers in the near future.
Though, a significant change has occurred in the music industry due to the arrival of digital musical instruments in recent years. Yet, this won’t hamper one’s true love for music, which nevertheless, will result in the increase in music buyers (instruments) and fuel their global trading.
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