The global vinyl records market is forecast to grow at a compound annual growth rate of 55.15% during the period 2016-2020, according to a new study by Research and Markets.
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According a new Research and Markets study, vinyl manufacturers are now focusing on technological advancements to maintain the strong growth, as well as adding capacity to their existing lines. A new HD vinyl record format is expected to hit the market soon.
All will help propel a compound annual vinyl growth rate of 55.15% during the period 2016-2020
There is differential pricing across regions. Vinyl in the US is sold at a lower price than in European and Asian countries. Also, due to low availability of stock, consumers in Japan have had to import vinyl records.