The global market share of the musical instrument industry is huge, the per capita ownership of musical instruments is high, and the speed of consumer replacement is also relatively fast. At present, physical stores still occupy 70% of the market share, but the growth rate is declining year by year, and the sales of e-commerce platforms are steadily increasing. In 2018, the national musical instrument industry completed a cumulative export value of US$1.63 billion, an increase of 8.15% year-on-year. Among them: exports to North America accounted for the first place, with a cumulative export value of US$529 million (accounting for 32.47%), an increase of 4.31% year-on-year; among major economic and trade organizations, exports to BRICS countries increased significantly, with a cumulative export value of US$107 million (accounting for 6.57%), an increase of 12.79% year-on-year, and the cumulative export value of the “Belt and Road” market was US$297 million (accounting for 18.22%), an increase of 10.69% year-on-year. From the perspective of export markets, the United States still ranked first in 2018, with a cumulative export value of US$494 million (accounting for 30.33%), an increase of 3.85% year-on-year; Indonesia and Germany increased rapidly, increasing by 26.81% and 19.51% respectively.
In the next few years, the demand for professional lighting and audio products in the application field will continue to increase, and my country’s professional lighting and audio industry will maintain a steady growth, showing a trend of specialization in subdivided fields, localization of products, and market concentration on advantageous brands.
For export enterprises in the lighting, audio, musical instruments and other industries, you can choose world-renowned exhibitions in the industry (such as LDI in the United States, NAMM in the United States, etc.) as a platform for enterprises to continuously learn new products and new technologies in the industry, so as to achieve the role of promoting the growth and development of enterprises. Industry exhibitions are also very important for export enterprises to explore the international market.
It is also a good choice to have a deep understanding of the industry and participate in the second-class exhibitions in key areas (with more subdivided and more specialized products). On the one hand, the exhibition fee will be slightly lower than that of the world’s first-class popular exhibitions, which can save part of the cost of enterprises; on the other hand, the level of buyers in the second-class exhibitions is different from that of the popular exhibitions. Participating in more second-class exhibitions can expand the scope of their own buyers.
China’s musical instrument industry has its own unique characteristics. Nowadays, the world is becoming more and more accepting of Chinese culture. Chinese musical instrument companies can change the way they participate in exhibitions. Instead of simply using booths to display products, they can promote Chinese culture to the world through live performances, while highlighting their products.