The market is dominated by domestic suppliers, as imports account for 43.3% of total market size in 2020. Households drive market demand, with household spending representing 63.8% of total demand in 2020. Canada has the sixth largest market size for musical instruments across the top 20 developed countries, with demand reaching USD699 million in 2020. Guitabec Inc is the largest company in Canada, generating 6.4% of the industry’s total production value in 2020. The industry is fragmented, with the top five companies generating 13.0% of total production value in 2020. The total number of companies decreases in 2020, to 492 units. The costs of the industry decrease by 3.2% in 2020, largely driven by declining labour costs. The industry’s profitability decreases and stands at 12.6% of production value in 2020, the 15th highest across the top 20 developed countries. With production value of USD337 million, Canada accounts for 13.6% of the North America total in 2020.
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This Euromonitor industrial report provides unique information on Musical Instruments in Canada: ISIC 3692. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Musical Instruments in Canada: ISIC 3692 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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