Technavio estimates the vinyl records market in Europe to grow by USD 91.94 million, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Vinyl Records Market in Europe 2020-2024 (Graphic: Business Wire)
The market is driven by the aesthetic appeal of vinyl records. However, the increasing price of vinyl records might challenge growth.
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Vinyl Records Market in Europe: Product Landscape
Based on the product, the market saw maximum growth in the LP/EP vinyl records segment in 2019. The segment will continue to offer several growth opportunities for market vendors over the forecast period.
Vinyl Records Market in Europe: Geography Landscape
41% of the market's growth originated from the UK in 2019. The increasing number of new vinyl album releases is one of the major factors fueling the growth of the vinyl records market in the UK.
The UK, Germany, The Netherlands, Italy, and Poland are the key markets for vinyl records in Europe. Market growth in the UK will be slower than the growth of the market in Germany.
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Major Three Vinyl records Market Vendors in Europe:
Deepgrooves BV operates its business through the Unified segment. The company offers eco-friendly vinyl based on calcium zinc.
Edel SE Co. KGaA
Edel SE Co. KGaA operates its business through the Unified segment. The company offers full-service printing plant, bindery and pressing plant for manufacturing vinyl records under its subsidiary, optimal media GmbH.
Europress Vinyl Srl
Europress Vinyl Srl operates its business through the Unified segment. The company offers service for the production of the LP vinyl and cover artwork.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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