(MENAFN- iCrowdNewsWire) The global turntable market size is expected to reach USD 508.3 million in 2028 at a CAGR of 4.4% during the forecast period, according to the latest report by Emergen Research. Increasing popularity of in-house DJ and EDM, growing number of DJs preferring to rent music equipment, and increasing trend of vinyl records to boost aesthetic appeal are key factors expected to drive market revenue growth over the forecast period. The advent of vintage turntables and reemergence of trend of vinyl records has further boosted demand for turntables and is expected to further boost revenue growth of the market going ahead.
Turntable is a circular rotating platform of a phonograph such as record player and gramophone, among others. It is a device specifically used for playing sound recording and nowadays versatile and modern devices in cost-effective prices. Modern turntables are equipped with advanced features such as Bluetooth connectivity and USB ports that enable seamless recording of vinyl to the computer. Turntables have been in high demand owing to increasing trend of hip-hop music and live shows. Rising level of disposable income has further contributed to the growing number of DJs and new individuals who have forayed into the music stream. Turntables also generate high-quality sounds and provides a cultural quality.
Increasing preference for electronic dance music (EDM), promotional events for music, and growing number of events for independent record stores amid increasing popularity of vinyl records are some other key factors contributing to revenue growth of the market going ahead. However, high costs associated with turntables and maintenance of equipment are some key factors expected to hamper market growth over the forecast period.
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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.
Key companies in the market include Sound United, LLC, inMusic, Inc., Clear Audio Electronic GmBH, Panasonic Corporation, Thorens, Pro-Ject Audio Systems, Audio-Technica Corporation, TEAC Corporation, Sony Group Corporation, and Crosley Radio.
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For the purpose of this report, Emergen Research has segmented the global turntable market on the basis of type, cartridges, application, and region:
Turntable Market Type Outlook (Revenue, USD Million; 2018-2028)
Belt drive
Direct Drive
Idler Wheel
DJ
Turntable Market Cartridges Outlook (Revenue, USD Million; 2018-2028)
Moving Magnet
Moving Coil
Turntable Market Application Outlook (Revenue, USD Million; 2018-2028)
Residential
Music Composition
Music Clubs & Bars
Concerts
Others
Turntable Market Regional scope: – North America; Europe; Asia Pacific; Central & South America; MEA
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The report on global Turntable Market is intended to offer business owners, stakeholders and field marketing executives a broad overview of the business they should be focussing on for the estimated period. The research further holds vital information on the size of market and data on the prominent leaders’ product owners have to compete with, in the coming years. Assessments of the broad strengths, as well as weaknesses too, add value to the overall research. Products details not only cover the popular applications and its performance, but it also unveils certain trends and value of specific products within specific regions.
Report Objectives
Examine the size of the global Turntable Market based on the parameters of value and volume.
Accurately calculate the market shares, consumption, and other essential aspects of different segments of the global Turntable Market.
Explore the underlying dynamics of the global Turntable Market.
Highlight significant trends of the global Turntable market based on factors including, production, revenue, and sales.
Extensively profile top players of the global Turntable market and showing how they compete in the industry.
Study manufacturing processes and the costs, product pricing, and various trends associated with them.
Analyze the performance of different regions and countries in the global Turntable market.
Forecast the market size and share of all segments and regions in the global landscape.
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The global Turntable market research is carried out at the different stages of the business lifecycle from the production of a product, cost, launch, application, consumption volume and sale. The research offers valuable insights into the marketplace from the beginning including some sound business plans chalked out by prominent market leaders to establish a strong foothold and expand their products into one that’s better than others.
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Table of Content
Chapter 1. Methodology & Sources
1.1. Turntable Market Definition
1.2. Turntable Market Research Scope
1.3. Turntable Market Methodology
1.4. Turntable Market Research Sources
1.4.1. Turntable Market Primary
1.4.2. Turntable Market Secondary
1.4.3. P Turntable Market aid Sources
1.5. Turntable Market Estimation Technique
Chapter 2. Turntable Market Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Turntable Market Key Insights
Chapter 4. Turntable Market Segmentation & Impact Analysis
4.1. Turntable Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Turntable Market indicators analysis
4.2.2. Turntable Market drivers analysis
4.2.2.1. Stringent environmental regulations
4.2.2.2. Rising need to reduce bacterial or algal contamination in water systems
4.2.2.3. Increasing demand for biocides for municipal water treatment
4.2.3. Market restraints analysis
4.2.3.1. Fluctuating prices of raw material
4.2.3.2. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Turntable Market By Application Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Turntable Market By Product type Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Turntable Market Regional Outlook
Chapter 8. Competitive Landscape
Continued…
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