The guitar market - Spain

Since 2020, the guitar market has undergone significant changes, with the Spanish market experiencing fluctuations due to several key trends. Electric guitar sales have declined worldwide, with iconic brands such as Gibson facing financial difficulties. Acoustic guitars fared better, with demand buoyed somewhat by the "Taylor Swift effect", which increased their popularity with young women. In Spain, traditional guitar manufacturers have seen their sales decline, while the second-hand market has expanded, particularly online, offering both vintage value and buying opportunities for beginners.

The Spanish industry has experienced fragmentation, with an increase in local manufacturers despite pressure on margins. Technological advances also played a role in modernizing learning and consumer engagement, with services such as Fender's chord application, Fender Songs. The market faced increased competition from electronic music, the weakening image of rock music and the emergence of preferences for instruments such as the ukulele. The move towards online sales continues to challenge local retailers, with e-commerce changing the competitive landscape.

Guitar market dynamics in Spain

In the land of flamenco and classical guitar traditions, the Spanish guitar market reflects a complex interplay between cultural heritage, competitive pressures and technological evolution. While the country boasts a rich stringed-instrument history and manufacturers such as Manuel Rodríguez and José Ramirez, its market is not immune to the global challenges and changing consumer trends affecting the guitar industry. Demand in the Spanish market is falling, with sales of electric guitars plummeting in recent years, dropping by around 30-35% in just one year, according to reports from major brands such as Fender and Gibson. Acoustic guitars, on the other hand, seem to be holding their own at a steadier pace, thanks in part to what has been dubbed the "Taylor Swift effect" - an influx of young female buyers inspired by pop culture figures. Average annual sales fell by around 2.12%, illustrating the difficulty of this market.

The rise of the second-hand market has also had a significant impact, with growth fuelled by the longevity of guitars and a strong vintage appeal. Platforms such as Wallopop are recording millions of downloads, with revenues jumping 70% in one year, providing easy access and lucrative opportunities for used guitar sales and exchanges. The growing number of local manufacturers slightly offsets these declines. The number of Spanish musical instrument companies rose by over 44.85%, indicating a more fragmented market despite the general slowdown. in the digital age, technological advances have enabled newcomers like Fender to innovate by offering subscription services such as Fender Songs, which provide chord diagrams for millions of songs and thus simplify the learning process, potentially sparking renewed interest in playing the guitar. Meanwhile, the popularity of electronic music and the importance of DJ culture have diluted the rock star appeal that once boosted guitar sales. Learning traditional instruments like the guitar now competes with the quick and easy mastery of turntables for budding DJs.

In addition, market segmentation reveals emerging consumer trends such as feminization and the growing appeal of new practices. The ukulele, for example, has gained in popularity due to its affordability and ease of learning compared to traditional guitars. Despite these multifaceted challenges and trends, the guitar remains an emblematic instrument in Spain, intertwined with cultural expression and musical innovation. As Spanish players navigate the complexities of the market, from the feminization of demand to the rise of online commerce, the Spanish guitar market continues to evolve, reflecting broader global patterns and local nuances.

The main guitar manufacturers shaping the Spanish market

• Guitarras Manuel Rodríguez Guitarras Manuel Rodríguez has established itself as a family brand rooted in tradition and renowned for its handcrafted guitars. Exports are the backbone of its business. The company produces around 6,500 guitars a year, with an emphasis on quality craftsmanship. South Korea has proved to be a particularly dynamic market for this Spanish brand, with a sharp increase in demand. Although Guitarras Manuel Rodríguez has faced internal challenges following a sour alliance with Grupo Sostenible, it remains an influential name in the world of guitar making.
• José Ramirez An emblematic figure of the Madrid guitar school, José Ramirez is synonymous with heritage and exceptional quality in guitar building. Founded in 1882, this historic family business has created a legacy that extends beyond Spain's borders. Ramirez guitars are sought after by serious musicians and admired for their superior tone and construction. Their commitment to excellence has not only preserved, but advanced the reputation of Spanish guitars on the international market.

Both manufacturers continue to play an important role in maintaining and evolving the cherished tradition of Spanish guitar making, even as market dynamics have changed and sales and distribution have advanced technologically. Despite the challenges posed by new distribution channels and changes in consumer behavior, they remain steadfast in their dedication to their craft. Their continued presence testifies to their resilience and adaptability in the face of an ever-changing musical landscape.

Inforamtion

• Number of pages : ~ 40 pages
• Format : Digital and PDF versions
• Last update : 21/11/2021

Summary and extracts

List of charts presented in this market study

• Guitar sales
• Sales of companies operating in musical instrument manufacturing
• Foreign trade in guitars and harps
• Main export destination countries
• Main countries of origin of imports
• Number of companies operating in musical instrument manufacturing
• Gross margins on goods for resale of musical instrument manufacturing companies
• Market share of vintage electric guitars
• Acoustic guitar market share
• Bass guitar market share