Global Vinyl Records Market Size By Product Type (Long Play (LP) Vinyl Records, Singles Vinyl Records), By Distribution Channel (Online and Offline), By Geographic Scope And Forecast
Global Vinyl Records Market Size By Product Type (Long Play (LP) Vinyl Records, Singles Vinyl Records), By Distribution Channel (Online and Offline), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Vinyl Records Market size was valued at USD 2177.97 Million in 2024 and is projected to reach USD 4524.65 Million by 2031, growing at a CAGR of 9.57% from 2024 to 2031.
The market is primarily being driven by rapid urbanization, along with the adoption of omnichannel retailing practices by vendors that increase their consumer base. Music collectors, audiophiles, and disc jockeys (DJs) use vinyl records as a prized possession and are increasingly using them for concerts, shows, and music recordings. The Global Vinyl Records Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Vinyl Records Market Definition
Vinyl records are physical music recordings that consist of grooves on a disc made of polyvinyl chloride (PVC). The grooves are read by a turntable stylus, which translates the physical sound waves into an electrical signal that is then amplified and played back through speakers. The vinyl record is a medium that has been used for music distribution since the early 20th century, and it was the primary format for music until the advent of the compact disc (CD) in the 1980s.
Vinyl records have several unique features that have contributed to their enduring appeal among music enthusiasts. One of the most distinctive characteristics of vinyl records is their analog sound quality. Analog sound recordings are created by directly capturing the physical sound waves produced by musical instruments and vocals. In contrast, digital recordings capture a series of snapshots of the sound waves at discrete intervals. Analog sound is perceived to have a warmer, more natural sound than digital sound, which is why many audiophiles prefer vinyl records.
But hey, there's more to vinyl than just the sound! The artwork and packaging are a big deal too. We're talking large-format jackets or sleeves that give artists plenty of room for killer visuals, liner notes, and even some promotional goodies. These elements are totally part of the whole vibe and can really boost your listening experience. Plus, vinyl covers it all – from rock and pop to jazz, classical, hip-hop, electronic, folk, country, you name it! Of course, some genres are hotter than others on the vinyl scene, depending on what folks are into. For instance, classic rock and jazz are always a hit with collectors, but electronic and hip-hop have definitely been gaining steam lately.
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Global Vinyl Records Market Overview
Some of the major market driving factors are the increasing number of vinyl enthusiasts and the growing market for high-end vinyl playback equipment. Some of the market retraining factors are limitations associated with high production costs and limited shelf space. Some market growth opportunity factors are the rising adoption of vinyl records in the younger generation, and technological integration to attract consumers.
Technology advancement is at an exponential rate, with more funding available and global collaboration. As a result of these revolutions, leading product providers will continue to enhance the customer experience. Some of the biggest game-changing technologies are the Internet of Things and others. Furthermore, development in manufacturing technologies is one of the major trends in this industry. Numerous businesses are taking action in the manufacturing sector, such as Viryl Technologies, which modified the conventional production press and created new disc-pressing equipment employing cutting-edge technology.
Okay, so the market opportunity? Think of it as what's coming down the pike – the stuff that's gonna make the market tick for the next decade. Product folks are all about snagging those opportunities, especially in different places around the world, to boost their bottom line. And speaking of growth, service providers are pouring cash into getting bigger, both by growing what they already have and by grabbing up new stuff. Take this for exampleback in April 2022, The ADS Group's Copycats Media announced they're building Minnesota's first really modern vinyl record pressing plant. This brand-new, 65,000-square-foot building will start with five presses, but it's set up to handle even more growth down the road.
Global Vinyl Records MarketSegmentation Analysis
The Global Vinyl Records Market is segmented based on Product Type, Distribution Channel, and Geography.
Vinyl Records Market, By Product Type
Long Play (LP) Vinyl Records and Extended Play (EP) Vinyl Records
Singles Vinyl Records
To Get a Summarized Market Report By Product Type-
Based on Product Type, The Vinyl Records market can be segmented as Long Play (LP) Vinyl Records and Extended Play (EP) Vinyl Records, Singles Vinyl Records. The Long Play segment dominated the marketplace share in 2020. It is used to refer very specifically to a 33 1/3 rpm microwave vinyl record, which is still in common use today. These are most famous amongst clients and they can offer lengthy play hours which additionally depend on the labels of the records as released by the record enterprise. These factors are driving the marketplace growth of the segment market.
Vinyl Records Market, By Distribution Channel
Online
Offline
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Based on the Distribution Channel, the Vinyl records market can be segmented as Online and Offline. The online distribution channel can further be sub-segmented as eCommerce websites and organization websites whereas the offline marketplace can be further sub-segmented as specialty stores supermarkets and departmental stores.
Vinyl Records Market, By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
To Get a Summarized Market Report By Geography-
On the basis of regional analysis, the Global Vinyl Records Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America dominated the market share in 2021. The maximum number of customers of gramophones and a growing wide variety of vinyl records collectors are in this region. This region is anticipated to offer numerous opportunities to sellers and accelerated releases of the latest vinyl albums and accelerated demand for vinyl records are anticipated to drive the boom of the vinyl record market in the region through the forecast period.
Key Players
The major players in the market are PrimeDisc International Ltd.(Hong Kong), A to Z Media (U.S.), Sound Performance USA (U.S.), Microforum Vinyl (U.S.), Handle with Care Manufacturing (Germany), Deeprooves Pressing Plant (Netherlands), Yong Tong A&V Manufacture Limited (China), Burlington Record Plant (U.S.), Vinilificio (Italy), and Pirates Press (U.S.). The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
PrimeDisc International Ltd.(Hong Kong), A to Z Media (U.S.), Sound Performance USA (U.S.), Microforum Vinyl (U.S.), Handle with Care Manufacturing (Germany), & Others
SEGMENTS COVERED
• By Product Type• By Distribution Channel• By Geography
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.
Research Methodology of Market Research
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Reasons to Purchase this Report
We take a good look at the market, both with numbers and more nuanced observations, breaking it down into different groups based on things like income and lifestyle. You'll get the market value (in USD Billion) for each of these groups and subgroups. We'll point out which regions and segments are predicted to grow the quickest and be the biggest. Plus, we'll analyze each geographic area, focusing on how much of the product or service is used and what's impacting the market there. See where the major players stand with our competitive landscape analysis, complete with their market ranking and a rundown of new product launches, partnerships, expansions, and acquisitions over the last five years. Our detailed company profiles give you an overview, key insights, product comparisons, and a SWOT analysis of the main companies. We'll give you a view of the industry's present and future, considering the latest happenings, growth opportunities, and what's holding things back in both up-and-coming and established regions. We dive deep with a Porter's five forces analysis, offering insights through the Value Chain. Finally, we provide a market dynamics scenario, highlighting growth opportunities on the horizon and offering 6 months of analyst support after your purchase.
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