Vinyl Record Players Market

Vinyl Record Players Market Size, Share, Trends, Growth, and Industry Analysis, By Product (Single Vinyl Records, and LP/EP Vinyl Records), By Type (7-Inch Record, 10-Inch Record, and 12-Inch Record), By Distribution Channel (Independent Retailers, Online Stores, Supermarkets and Hypermarkets, and Others), By Feature (Gatefold, Picture, and Coloured), Regional Analysis and Forecast 2032.

Consumer Goods & Services | April 2024 | Report ID: EMR00817 | Pages: 254

Global Vinyl Record Players market size was USD 360.2 million in 2023 and the market is projected to touch USD 508.26 million by 2032, at a CAGR of 3.9% during the forecast period.

 

Vinyl record players usually have a turntable, tonearm, cartridge, and amplifier, giving users the opportunity to appreciate the distinctive sound of vinyl records. Even with the popularity of digital music, vinyl record players have become more popular again among music lovers who appreciate the nostalgic and genuine listening experience they offer.

Over the past few years, the market for vinyl record players has seen consistent growth. This is primarily attributed to the increasing admiration for the unique and high-quality sound produced by vinyl records, which is preferred by many music enthusiasts over digital alternatives. Moreover, vinyl records have become highly sought-after collectibles, with fans on the lookout for limited edition releases. As a result, there has been a rise in demand for vinyl record players as individuals strive to fully appreciate their vinyl collections. Additionally, advancements in technology have led to the creation of top-notch turntables with modern features, appealing to both traditionalists and tech-savvy consumers. As a result, the global vinyl record players market continues to thrive, catering to the diverse preferences of music enthusiasts around the world.

 

Global Vinyl Record Players report scope and segmentation.

Report Attribute

Details

Estimated Market Value (2023)

USD 360.2 Million

Projected Market Value (2032)

USD 508.26 Million

Base Year

2023

Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Product, By Type, By Distribution Channel, By Feature, & Region.

Segments Covered

By Product, By Type, By Distribution Channel, By Feature, & By Region.

Forecast Units

Value (USD Million or Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Vinyl Record Players dynamics

The global vinyl record players market is impacted by a variety of factors that affect its growth and direction. An important factor driving this market is the renewed popularity of vinyl records among music enthusiasts who value a more authentic and immersive listening experience. This renewed interest in vinyl has sparked an increased demand for record players as people rediscover the nostalgia and tactile feel of vinyl records. Moreover, the trend of vinyl collecting has gained traction, with collectors actively seeking out rare and limited-edition releases, which in turn has bolstered the demand for turntables and other related equipment.

Another key dynamic in the vinyl record players market is the convergence of analogue and digital technologies. While vinyl records represent a traditional analogue format, modern turntables incorporate digital features such as USB connectivity and Bluetooth compatibility, appealing to a broader audience. This fusion of old and new technologies caters to the preferences of both audiophiles seeking the classic vinyl experience and younger consumers accustomed to digital convenience. Furthermore, advancements in manufacturing processes and materials have led to the production of high-quality turntables at various price points, making them more accessible to a wider range of consumers.

 

Global Vinyl Record Players drivers

  • Resurgence of Vinyl Records

The resurgence of vinyl records has played a key role in driving the global market for vinyl record players. Vinyl records provide a distinct, cozy sound that is favoured by audiophiles and music lovers looking for a nostalgic and genuine listening experience. This renewed interest in vinyl has resulted in a sharp increase in record sales and a higher demand for record players to play them. Furthermore, collecting vinyl has become a trendy hobby, with enthusiasts actively hunting for rare and exclusive releases. Consequently, the market for turntables and other related equipment has seen steady growth, fuelling the expansion of the vinyl record player market.

  • Convergence of Analogue and Digital Technologies

Another driver for the vinyl record players market is the integration of analogue and digital technologies in modern turntable designs. While vinyl records represent a traditional analogue format, manufacturers have incorporated digital features such as USB connectivity, Bluetooth compatibility, and built-in preamps into their turntable models. This convergence appeals to a broader audience by combining the classic vinyl listening experience with the convenience of digital connectivity. It enables users to digitize their vinyl collections, stream music wirelessly, and connect their turntables to a variety of audio devices. As a result, the availability of modern, feature-rich turntables attracts both traditionalists and tech-savvy consumers, driving sales and market growth.

 

Restraints:

  • Limited Availability of Vinyl Records

A challenge facing the vinyl record players market is the lack of vinyl records, especially new releases and popular titles. Even with a resurgence in popularity, vinyl pressing plants have limited production capacity, leading to supply shortages and delays in production. This can make it difficult for consumers to find the records they want. As a result, the restricted availability of vinyl records could impede the growth of the vinyl record players market by limiting playback options.

  • High Cost of Entry

One factor holding back the vinyl record players market is the high initial cost for consumers. Vinyl records and turntables are generally pricier compared to digital music and streaming services. Investing in high-quality turntables, speakers, and amplifiers can be expensive, which can discourage budget-conscious consumers from getting into vinyl. Furthermore, the continuous expenses of buying vinyl records, replacement needles, and maintenance supplies can accumulate over time, making the overall ownership cost even higher.

 

Opportunities:

  • Expansion of the Collector Market

There is a growing opportunity in the vinyl record players market as more people beyond traditional collectors are becoming interested in vinyl records. With younger generations and mainstream consumers showing interest in vinyl, there is a larger potential market for collectors. Manufacturers and retailers can take advantage of this trend by offering a variety of turntable designs, accessories, and limited-edition releases that appeal to collectors of all kinds. By catering to this expanding collector market, companies can increase demand for vinyl record players and help the market grow.

 

Segment Overview

  • By Product

By product, the market is segmented into single vinyl records and LP/EP vinyl records. Single vinyl records typically contain one or two tracks per side and are commonly used for singles or promotional releases. On the other hand, LP (Long Play) and EP (Extended Play) vinyl records feature multiple tracks per side and are designed for full-length albums or extended plays. This segmentation allows consumers to choose between individual songs or complete albums based on their listening preferences and collecting habits.

  • By Type

By type, vinyl records market is segmented into are further categorized by size into 7-inch, 10-inch, and 12-inch records. Each size offers a different playing time and audio quality, with 7-inch records typically containing singles or shorter tracks, 10-inch records accommodating EPs or shorter albums, and 12-inch records commonly used for full-length albums. By offering different formats and lengths for music releases, this segmentation gives artists and listeners more freedom to create and enjoy music in their preferred ways.

  • By Distribution Channel

By distribution channel, the vinyl record players market is segmented into independent retailers, online stores, supermarkets, hypermarkets, and others. Independent retailers often specialize in niche music genres and offer personalized service to vinyl enthusiasts. Shopping online for vinyl records and turntables is not only convenient, but also offers a vast array of options for consumers looking for a hassle-free shopping experience. Meanwhile, supermarkets and hypermarkets stock popular vinyl releases in addition to other entertainment items, making them a go-to destination for shoppers looking for a quick purchase. This variety in retail options emphasizes the various ways consumers can get their hands on their beloved music.

  • By Feature

By feature, vinyl records market is segmented into gatefold, picture discs, and coloured vinyl. Gatefold records feature a double-folded cover, providing additional space for artwork, lyrics, or liner notes, enhancing the visual and tactile experience for collectors. Picture discs are vinyl records that feature images or designs directly on the surface, making them one-of-a-kind collectibles. Coloured vinyl records use pigmented materials to create a vibrant and unique appearance, as opposed to the usual black vinyl. This variety allows music enthusiasts to select records based on their aesthetic taste, adding value and individuality to their collections.

 

Global Vinyl Record Players Overview by Region

North America leads the market, driven by a strong culture of vinyl appreciation, a thriving independent music scene, and the presence of major music labels reissuing classic albums on vinyl. Europe follows closely, with countries like the UK, Germany, and France experiencing a resurgence in vinyl sales fuelled by a growing collector's market and music festivals promoting vinyl culture.

Image discs are vinyl records that have images or designs printed directly on the surface, making them unique collectibles. Coloured vinyl records are made with coloured materials to produce a colourful and distinctive look, rather than the standard black vinyl. This selection gives music fans the opportunity to choose records that fit their personal style, enhancing the uniqueness and value of their collections.

 

 

Global Vinyl Record Players market competitive landscape

Leading companies such as Sony Corporation, Audio-Technica Corporation, and Crosley Radio dominate the market with their diverse range of turntable models catering to various consumer segments. These companies compete based on factors such as product quality, innovation, pricing, and distribution channels to maintain their market positions and capture market share. Additionally, the market is witnessing increasing competition from boutique and artisanal turntable manufacturers offering high-end, customizable products targeted at audiophiles and collectors seeking premium quality and craftsmanship. Furthermore, online platforms like Amazon, eBay, and specialized vinyl retailers play a crucial role in decisive the competitive landscape by providing a wide selection of turntables, vinyl records, and accessories to consumers globally.

Key Players:

  • Sony Corporation
  • Audio-Technica Corporation
  • Crosley Radio
  • Pro-Ject Audio Systems Ltd
  • Denon Electronics (USA) LLC
  • Rega Research Ltd
  • TEAC Corporation
  • Thorens GmbH
  • U-Turn Audio LLC
  • Fluance Audio Inc.

 

Scope of global Vinyl Record Players report

Global Vinyl Record Players report segmentation

ATTRIBUTE

DETAILS

By Product

  • Single Vinyl Records
  • LP/EP Vinyl Records

By Type

  • 7-Inch Record
  • 10-Inch Record
  • 12-Inch Record

By Distribution Channel

  • Independent Retailers
  • Online Stores
  • Supermarkets and Hypermarkets
  • Others

By Feature

  • Gatefold
  • Picture
  • Colored

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Vinyl Record Players size and forecast: To identify and estimate the market size for global Vinyl Record Players market segmented By Product, By Type, By Distribution Channel, By Feature, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Vinyl Record Players
  • Market Influencing Factors: To find out the factors which are affecting the market of global Vinyl Record Players among consumers.
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Vinyl Record Players forecast period is 2024 - 2032.
According to global Vinyl Record Players research, the market is expected to grow at a CAGR of ~ 3.9% over the next eight years.
The possible segments in global Vinyl Record Players are based on By Product, By Type, By Distribution Channel, By Feature, & by region.
The expected market size for Global Vinyl Record Players is USD 508.26 million in 2032.
The major players in the market are Sony Corporation, Audio-Technica Corporation, Crosley Radio, Pro-Ject Audio Systems Ltd, Denon Electronics (USA) LLC, Rega Research Ltd, TEAC Corporation, Thorens GmbH, U-Turn Audio LLC, and Fluance Audio Inc.
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