Product Code: ETC014349 | Publication Date: Jun 2023 | Updated Date: May 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Nigeria Musical Instruments market currently, in 2023, has witnessed an HHI of 8733, Which has increased slightly as compared to the HHI of 8031 in 2017. The market is moving towards Highly concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The Nigerian musical instruments market is expected to reach $271.5 million by 2026, experiencing a CAGR of 4.9% from 2020 to 2026. The growth in the sector is largely attributed to increasing demand for traditional music in the country, growing awareness regarding digital technologies and their use in popular and traditional music recording, an increase in disposable incomes of consumers allowing them access to buying expensive musical instruments such as drums and guitars, growing popularity of western music among millennials who are mostly likely to buy these instruments more than any other age group, rising influence of social media on young people?s purchasing behavior with respect to musical instruments through promotions launched by brands via online platforms such as Instagram or Twitter, introduction of government initiatives like ?Creative Economy? program which focuses on developing Nigeria`s creative industry comprising fashion designers and musicians offering tax incentives for those investing into different areas within the creative sector such as live performances/concerts etc., presence of international players entering into deal agreements with local manufacturers or distributors thus forming partnerships leading up to better penetration into untapped markets
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Nigeria Musical Instruments Market Overview |
3.1 Nigeria Country Macro Economic Indicators |
3.2 Nigeria Musical Instruments Market Revenues & Volume, 2019 & 2026F |
3.3 Nigeria Musical Instruments Market - Industry Life Cycle |
3.4 Nigeria Musical Instruments Market - Porter's Five Forces |
3.5 Nigeria Musical Instruments Market Revenues & Volume Share, By Type, 2019 & 2026F |
3.6 Nigeria Musical Instruments Market Revenues & Volume Share, By End-users, 2019 & 2026F |
4 Nigeria Musical Instruments Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Nigeria Musical Instruments Market Trends |
6 Nigeria Musical Instruments Market, By Types |
6.1 Nigeria Musical Instruments Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Nigeria Musical Instruments Market Revenues & Volume, By Type, 2016 - 2026F |
6.1.3 Nigeria Musical Instruments Market Revenues & Volume, By Percussion Instruments, 2016 - 2026F |
6.1.4 Nigeria Musical Instruments Market Revenues & Volume, By String Instruments, 2016 - 2026F |
6.1.5 Nigeria Musical Instruments Market Revenues & Volume, By Piano & Key Instruments, 2016 - 2026F |
6.1.6 Nigeria Musical Instruments Market Revenues & Volume, By Organs & Air Blown Instruments, 2016 - 2026F |
6.1.7 Nigeria Musical Instruments Market Revenues & Volume, By Others, 2016 - 2026F |
6.2 Nigeria Musical Instruments Market, By End-users |
6.2.1 Overview and Analysis |
6.2.2 Nigeria Musical Instruments Market Revenues & Volume, By Commercial Events, 2016 - 2026F |
6.2.3 Nigeria Musical Instruments Market Revenues & Volume, By Personal Use, 2016 - 2026F |
6.2.4 Nigeria Musical Instruments Market Revenues & Volume, By Music Production/ Direction, 2016 - 2026F |
6.2.5 Nigeria Musical Instruments Market Revenues & Volume, By Others, 2016 - 2026F |
7 Nigeria Musical Instruments Market Import-Export Trade Statistics |
7.1 Nigeria Musical Instruments Market Export to Major Countries |
7.2 Nigeria Musical Instruments Market Imports from Major Countries |
8 Nigeria Musical Instruments Market Key Performance Indicators |
9 Nigeria Musical Instruments Market - Opportunity Assessment |
9.1 Nigeria Musical Instruments Market Opportunity Assessment, By Type, 2019 & 2026F |
9.2 Nigeria Musical Instruments Market Opportunity Assessment, By End-users, 2019 & 2026F |
10 Nigeria Musical Instruments Market - Competitive Landscape |
10.1 Nigeria Musical Instruments Market Revenue Share, By Companies, 2019 |
10.2 Nigeria Musical Instruments Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |