The harmoniums are basically reed instruments, which are played by pumping air through the bellows. Each instrument’s quality of sound is mainly affected by the number of reed banks, quality of the wood used, and the adeptness of the artist in anyone’s playing skills. The fold up harmoniums is a feature that makes the harmoniums instrument easier to transport. There are generally two basic types of folding models, one type folds-up into itself and bellows board covers the top. This is a style of harmonium that kirtan singers use. Rise in consumer preference for better quality compact size products and growth in the disposable incomes of end-user are boosting the growth of market.
As per study, “Global Fold up Model Harmoniums Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global fold up model harmonious market include Hohner, Hobgoblin Books, Scarlatti, Sherwood, Serenellini, Microvox, Castagnari, Akg, Binaswar, Excelsior, Waltons, among others. The leading organizations are investigating the market by adopting consolidations & acquisitions, extensions, investments, new service launches, and collaborations as their favored methodologies. The organizations are also exploring new geographies through expansions & acquisitions to profit a competitive advantage through the combined collaborations.
Based on type, fold up model harmonious market is segmented as one bank of reed, two banks of reeds, three banks of reeds and four banks of reeds. In addition, based on application, market is segregated as folk music and popular music. Folk music is usually of unknown authorship and is transmitted mainly orally from the generation to generation. Additionally, popular music or stylized pop music is music with wide appeal that is classically distributed to large audiences through music industry.
The fold up model harmonious market is driven by growth in entertainment & media industry, followed by increase in population, developments in technology and rise in popularity of reality shows, kirtans, and music festivals. Apart from this, fluctuation in the price of raw material is a hindering factor for market. Additionally, rise in popularity of online stores and growth in eager to learn music in developing countries are leading opportunities for market. Moreover, growth in acceptance of music education in school curriculum is a key trend for market. Furthermore, high cost of products is a major challenge for global market.
Based on geography, the Asia-Pacific region dominates the global fold up model harmonious market owing to increase of western music among young generation and traditional music among the senior citizens across the region. These type instruments are low in cost as manufacturers have set-up their production plants in the developing countries, where the cost of raw material & labor is cheap and widely available. The North-America and Europe regions are estimated to exhibit considerable growth rate due to increase in concerts & musical shows coupled with the immense participation, especially from the young generation over the forecast period. It is projected that the global fold up model harmonious market will be reached at rapid pace as a result of surge in expenditure on leisure time and rise in disposable income during the forecast period.
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Ankur Gupta, Head Marketing & Communications