Market Share
As per our research, western musical instruments in Indian market are expected to cross INR 542 Crore revenues by 2017 (RnMTeam, 2012). In Indian market of western musical instruments, Yamaha is the leading player in the industry offering variety of products in different segments of musical instruments industry (RnMTeam, 2012) The competitor brands like Casio, Roland, Fender, Pearl, Zildjian, etc have put their roots and USPs in other specific segments of the market (RnMTeam, 2012)
According to 2000-12 data, music-expo report said that the guitars were the leaders when it came to import of musical instruments with Rs. 744 million revenue then comes keyboards with Rs 558 million revenue, then came the string instruments, drums and wind instruments with Rs 37 million (RnMTeam, 2012)
Further data on imports and demand of musical instruments have shown consistent growth as on 2011 which witnessed imports of guitars worth Rs 716 and Rs 557 million for keyboards following a similar pattern as mentioned before for other musical instruments including wind instruments. An interesting observation was that for import of parts and accessories of various musical products, the imports have been more than Rs. 1450 million previous year. (RnMTeam, 2012)
However in 2011 the Indian Musical Instruments market reached the highest number in sales as per the revenue contribution from keyboards in the MI category leaving behind guitars as one of the leading products, while regionally, if it is researched about Northern and Western India have 61 percent of contribution as far as sale of musical instruments is concerned (RnMTeam, 2012)
In some researches, it has been established that online sales have accounted for twenty per cent of total sales of musical instruments constituting electronics in majority in India.