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lobal Music Box Market Size is Projected to Reach 18 million USD by 2025

Author: QYResearch | Publish date: 2018-06-03 | Views: 36
The Music Box industry was 31.6 million USD in 2017 and is projected to reach 18 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of -6.74% from 2017 to 2025. The market is driven by various end-user industries, current demand mainly comes from enterprise orders, souvenir shops, gift shops and private collection hobbies. Music boxes are available from stores and online, and range in price from US$20 for a quality movement, to over $1,000 for the most elaborate pieces.

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As the market is not so optimistic, market sales of major players are also seeing downward trend. In 2017, Reuge, Sankyo, Yunsheng are top three producers of music boxes, with 80.83% market share totally. There are also many other small players exist, like Porter Music Box Company of Vermont, San Francisco Music Box Company, bela DESIGN, Netsin and etc.


The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow upward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.


The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.


To maintain and improve this music box business, companies should focus on innovative products, and absorb the advantages of other alternatives, to offer the market more products that are more in line with market needs and consumer preferences.


The Global Music Box Market Research Report 2018 report released by QYResearch studies the Music Box market status and outlook of global and major regions, from angles of players, regions, product types and end industries; this report analyzes the top players in global and major regions, and splits the Music Box market by product type and applications/end industries. 


Click to view the full report TOC, figure and tables

https://www.qyresearch.com/index/detail/446836/global-music-box-market

 

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