Increasing sales of turntables is a key factor expected to drive global market growth during the forecast period

PUNE, MAHARASHTRA, INDIA, April 27, 2023 /EINPresswire.com/ -- The global vinyl records market report offers a comprehensive analysis of the market covering key points such as market size, growth rate, drivers, restraints, challenges, and growth opportunities. Key factors such as resurgence of vinyl records for aesthetic appeal, rising demand for vinyl records from Gen X and millennials, and growing demand for retro and vintage music are expected to drive global market growth during the forecast period. The global vinyl records market is expected to reach USD 637.20 million 2028 and register a robust revenue CAGR of 15.00% during the forecast period.

Vinyl records are a type of analogue sound storage medium, made of polyvinyl chloride (PVC) that was popular in the mid-20th century. These records consist of a flat disc with grooves on both sides, containing analogue audio information. Vinyl records have made a major comeback worldwide over the past few decades, especially among the people who grew up listening to vinyl records due to sentimental attachment and appreciate the tactile experience of handling a physical object for listening to music.

Get a Sample PDF Copy of the Report (Including Full ToC, List of Tables & Figures, and Chart): https://www.xcellentinsights.com/enquiry/sample/501284

Vinyl records are considered collectible items and are gaining popularity as some people find it thrilling to find rare and limited-edition releases. Other factors such as re-release of new vinyl for classics and important music albums, rising availability of new and reissued vinyl records, rising popularity of vinyl records among DJs, and rising investments for developing different types and sizes of vinyl records are expected to boost the global market growth during the forecast period.

However, high costs of certain vinyl records, limited availability of new vinyl records, and concerns such as restricted playback options and fragility of vinyl records are some key factors that can hamper overall market growth to a certain extent between 2023 and 2028.

Colored Vinyl Records Segment to Register Rapid Revenue CAGR:

The colored vinyl records segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to increasing demand for colored vinyl records as collectibles, high preference for colored vinyl records due to better visual appeal and aesthetics than black ones, exclusivity, and unique sound qualities, and rising release of colored vinyl records as limited or exclusive edition releases.

North America to Lead in Terms of Revenue Share:

North America is expected to account for largest revenue share in the global market during the forecast period owing to resurgence of vinyl records for aesthetic appeal, rising popularity of retro trends among millennials and Gen X, high demand for various vinyl records for audiophile appeal, collectability, and nostalgia among older generations, and increasing investments in increasing manufacturing of records.

Browse Complete Report Summary with ToC here: https://www.xcellentinsights.com/reports/vinyl-records-market-501284

Vinyl Records Market by Company:

• GZ Media
• MPO International
• Optimal Media
• Record Industry
• Untied Record Pressing
• Pallas
• Quality Record Pressing (Acoustic Sounds)
• Analogue Productions (Acoustic Sounds)
• R.A.N.D Muzik Record Manufacturing
• Prime Disc (Yong Tong A&V Manufacture)
• Independent Record Pressing
• Stereodisk

Vinyl Records Industry Recent Developments:

• In March 2023, Metallica, a popular heavy metal band has acquired a controlling stake in Furnace Record Pressing, one of America’s largest vinyl pressing companies to meet the massive demand for Metallica vinyl.
• In April 2022, Nashville Record Pressing, world’s largest manufacturer of vinyl records is investing $13.3 million on a Nashville production plant.

The global vinyl records market has been segmented based on type, application, and region:

Vinyl Records Market Segment by Type:

• Black Vinyl Records
• Colored Vinyl Records

Vinyl Records Market Segment by Application:

• Private
• Commercial

Vinyl Records Market Segment by Region:

• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Southeast Aisa, Rest of Asia Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• The Middle East & Africa (Turkey, Saudi Arabia, U.A.E, South Africa, Rest of MEA)

Key Questions Addressed:

• What revenue CAGR is the global market expected to register during the forecast period?
• Which key players are leading in the global vinyl records market?
• What is the expected market size of the global vinyl records market between 2023 and 2028?
• What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
• What are some of the key challenges that the global market is expected to face during the forecast period?
• Which region is expected to account for largest revenue share over the forecast period?

Key Reasons to Purchase:

• Estimates 2023 to 2028 vinyl records market current market trends and development trends
• Market dynamics along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the vinyl records market
• Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
• Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
• Brief about impact of COVID-19 on the global vinyl records market

You can Purchase the Complete Report here: https://www.xcellentinsights.com/checkout/501284

BROWSE MORE REPORTS:

Smart Speakers Market 2023-2028
Smart Wristband Market 2023-2028

Susan W
Xcellent Insights LLP
+ +1 408-627-7717
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.