Global Turntables Market Insights Forecasts to 2033

• The Global Turntables Market Size was Valued at USD 359.98 Million in 2023
• The Market Size is Growing at a CAGR of 5.48% from 2023 to 2033
• The Worldwide Turntables Market Size is Expected to Reach USD 613.87 Million by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Turntables Market Size is Anticipated to Exceed USD 613.87 Million by 2033, Growing at a CAGR of 5.48% from 2023 to 2033.

Market Overview

A turntable, also known as a phonograph, is a circular rotating platform used to play audio recordings. A turntable's platter is driven by a motor at a constant speed. A vinyl record, frequently referred to as a phonograph record, is placed on top of the turning platter to produce the sound. These vibrations are converted into sound using the belt drive and direct drive technologies. With the use of belt drive technology, the engine turns the platter using an elastic belt. The primary factors driving turntable demand are performances and vinyl recordings' increasing contest, both of which are expected to drive the turntable market. One of the key drivers of the turntables market is the recovery of vinyl as a preferred audio medium. The turntable market is currently experiencing a revival driven by a growing demand for vinyl records and restored respect for analog audio.    

For Instance, in May 2024, The new SL-1200M7B turntable was launched by Technics and Lamborghini. Based on the SL-1200MK7/SL-1210MK7 DJ versions from the SL-1200 turntable series, which have gained a lot of praise and recognition over time, the SL-1200M7B is a special edition.

Report Coverage

This research report categorizes the turntables market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the turntables market. Recent market developments and competitive strategies such as expansion, type launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the turntables market.

Driving Factors

The growing vinyl restoration, which is attracting many people to collect and play vinyl records because of the actual material and nostalgic experience it provides, is a significant factor driving the growth of the turntable market. Turntable demand has increased due to the return of interest in vinyl records. As a result, manufacturers are competing to create turntables that are as perfect as possible in terms of both wearability and sound quality, and they achieve it by modifying the original design and fusing it with modern technology. The Rising demand for albums on vinyl and live performances streamed online, along with the rise of up-and-coming musicians and their fan bases, are expected to drive the market growth.

Restraining Factors

One significant element that could affect the turntable industry is the high cost of luxury brands. These accessibility restrictions, which do not confine the target audience to audiophiles and wealthy music enthusiasts, simply impede market growth by increasing the possibility that the industry will become exclusive to affluent consumers.

Market Segmentation

The Turntables market share is classified into type and application.

• The direct-drive turntables segment is estimated to hold the highest market revenue share through the projected period.

Based on the type, the turntables market is classified into direct-drive turntables, belt-drive turntables, and idler-wheel turntables. Among these, the direct-drive turntables segment is estimated to hold the highest market revenue share through the projected period. Perfect for pros and DJs looking for precision control, they include a platter that has a direct drive turntable, meaning they start quickly and run consistently. 

• The music production segment is anticipated to hold the largest market share through the forecast period.

Based on the application, the turntables market is divided into home entertainment, bar and music club, and music production. Among these, the music production segment is anticipated to hold the largest market share through the forecast period. In this crucial area, turntables are used by experts in recording studios to create, blend, and master musical recordings. This process calls for exact control and exceptionally clear audio output.

Regional Segment Analysis of the Turntables Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the turntables market over the predicted timeframe.

North America is anticipated to hold the largest share of the turntables market over the predicted timeframe. The vinyl record market in this region is predicted to grow rapidly over the forecast period due to the demand for vinyl records and the expedited production of new turntables. Sellers are projected to have many chances in this market. In addition, the expansion of pubs and music venues will drive market expansion in this region. Furthermore, future market growth is anticipated to be boosted by an increase in the number of music concerts in nations like the United States, Canada, and Mexico.

Asia Pacific is expected to grow at the fastest CAGR growth of the turntables market during the forecast period. Asia Pacific due to the use of turntables to create hip-hop music has increased. Hip-hop is becoming more popular around the world, especially in China, India, South Korea, and Japan. The popularity of hip hop and EDM genres is rising in Asia Pacific as a result of a growing number of rap artists and rap battles, DJ training programs, a greater focus on music-oriented events, competitions, and shows among younger people and groups, and trends in online video and music recording and uploading.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the turntables market along with a comparative evaluation primarily based on their type offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Audio-Technica
• Lamborghini and Technics
• Crosley
• Sony
• Teac
• Denon
• Thorens
• Panasonic
• VPI Nomad
• JR Transrotor
• Stanton
• Numark
• Music Hall
• Clearaudio
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2023, To meet the needs of various vinyl aficionados, Audio-Technica announced the launch of three new models in India. The three new turntables, the AT-LP60XUSB, AT-LP120X, and AT-LP60X, each have their special features and advantages.

• In August 2023, A new addition to the vinyl turntable lineup was launched by the sustainable audio brand House of Marley. This segment of the audio market has expanded rapidly in recent years, particularly among younger customers who have never used vinyl before.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the turntables market based on the below-mentioned segments: 

Global Turntables Market, By Type

• Direct-drive Turntable
• Belt-drive Turntable
• Idler-wheel Turntable

Global Turntables Market, By Application

• Home Entertainment
• Bar and Music Club
• Music Production

Global Turntables Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa