The United States is the global leader in the music industry, as well as in the musical instrument consumption industry. With approximately $5.946 billion revenue forecast for 2024 in the U.S. alone according to Statista, this is the biggest market in the world in revenue per person.
As the biggest economy in the world, doing business in the US is always a great way of positioning businesses and brands. But, is there a smartest way to take part in the musical instrument manufacturing industry? We think there is.
The American Musical Instrument Manufacturing Industry and Mexico
According to data from Statista, the revenue generated in the musical instrument industry worldwide in 2024 amounts to US$47bn, and is projected to experience an annual growth rate of 7.60% (2024-2028).
A growing market is always an opportunity for new businesses to form, but the biggest market in the world is also one of the most competitive, for everyone wants to take part.
Nowadays, one of the best ways of being competitive is through nearshoring. This model allows companies to establish their production in a country different from its origin. Due to the new international trade context, amid trade wars and changes in geopolitics, Mexico has become the most attractive alternative to China and other South-Asian countries.
Mexico has a highly skilled labor force and a lot of experience in manufacturing for a wide variety of industries, and the musical instrument manufacturing industry is one of them. The Baja California industry is of particular interest.
Baja California Manufacturing Conditions and Brands Established Here
Out of the whole country, Baja California is a special location, not only because it is right across the border from California, the richest state of the richest country in the world, but because of its excellent conditions for big national and international companies to establish. A referent of electronics manufacturing in Mexico, as well as many other industries, Baja California manufactures not only instruments but also music and sound equipment for brands such as Paradox Effects; Penn Elcom; Poly; Bose; Skullcandy; and JBL.
The state offers a highly-skilled workforce of engineers and qualified workers; 89 public & private universities, of which 9 have cross-border partnerships in California; and a lot of tax and administrative benefits for international companies. This is the reason why brands such as Aquarian Drumheads; Glasser Bows; Taylor Guitars; Fender; and Gibson are working here (along with more than 150 other Contract Manufacturing companies), adding to the wide experience of working with international musical instrument manufacturing production.
Contract Manufacturing Solutions for your New Business
If you want to benefit from nearshoring, starting a business in Mexico, especially in Baja California is the perfect choice. Contract Manufacturing solutions are a wide array of services specifically designed to help and assist companies to establish in a particular new area. This is of utmost importance when working in a foreign country, for you can hire a 360 solution and accompaniment for your new venture through:
- Shelter programs
- Legal Structure
- Regulatory Compliance
- Facilities and infraestructure
- Recrtuitment and HR
- Import/export assitence
- Administrative support
- Compilance reporting
In this regard, you need to contact the experts at Tijuana EDC. The highly experienced team of international trade specialists offers business consulting and strategic industrial alliances for you to access all these manufacturing solutions. If you are interested in Baja California to access the industry, contact us!
