FMCG

Image

Global Luxury Watch Market - Industry Trends and Forecast to 2030

  • FMCG
  • Upcoming Report
  • Jul 2023
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Luxury Watch Market - Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 8.17 Billion
Diagram Market Size (Forecast Year) USD 11.54 Billion
Diagram CAGR %

Global Luxury Watch Market, By Type (Analogue Watch, Digital Watch), Gender Type (Men, Women, Unisex, Kids), Sales Channel (Online, offline) – Industry Trends and Forecast to 2030.

Luxury Watch Market Analysis and Size  

The global luxury watch market is increasing the number of affluent individuals globally, which is expected to drive market growth. Additionally, the growing trend of customization and personalization in luxury watches such factors are expected to drive market growth.

Data Bridge Market Research analyses that the global luxury watch market, USD 8.17 billion in 2022, would rocket up to USD 11.54 billion by 2030 and is expected to undergo a CAGR of 4.4% from 2023 to 2030. "Analogue Watch" dominates the type segment of the global luxury watch market are highly sought after for their intricate mechanical movements, timeless design, and status symbol value, making them preferred by luxury watch enthusiasts. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Luxury Watch Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Thousand, Volumes in Units, Pricing in USD

Segments Covered

By Type (Analogue Watch, Digital Watch), Gender Type (Men, Women, Unisex, kids), Sales Channel (Online, offline)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

Market Players Covered

Rolex (Switzerland), Omega (Switzerland), Patek Philippe (Switzerland), Audemars Piguet (Switzerland), TAG Heuer (Switzerland), Breitling (Switzerland), Cartier (France), Jaeger-LeCoultre (Switzerland), IWC Schaffhausen (Switzerland), Hublot (Switzerland), Panerai (Italy), Vacheron Constantin (Switzerland), Richard Mille (Switzerland), A. Lange & Söhne (Germany), Chopard (Switzerland)

Market Opportunities

  • Emerging market expansion
  • Online Retail and E-commerce

Market Definition

Luxury watches are high-priced, high-quality accessories handcrafted by skilled artisans. They are made of precious metals like platinum, gold, and silver and are adorned with jewels such as diamonds and rubies. They are worn on the wrist to add an elegant and sophisticated look to people's personalities and styles. As they are expensive, exclusive, and not mass-produced, these luxury watches can easily be differentiated from their affordable counterparts because of their uniqueness and durability.

Global Luxury Watch Market Dynamics

Drivers

  • Growing Affluent Consumer Base

The growing number of wealthy people worldwide is a major global luxury watch market driver. As wealth and disposable income rise, more consumers can afford luxury timepieces, driving demand for high-end timepieces.

  • Brand Recognition and Status Symbol

Luxury watches are frequently regarded as status symbols and symbols of personal achievement. The market is driven by the desire for brand recognition and the prestige of owning luxury watches. Established luxury watch brands with a long history and a strong reputation have a competitive advantage in capturing consumer demand.

Opportunities

  • Emerging Market Expansion

The luxury watch market has significant growth potential in emerging markets such as China, India, and other parts of Asia. Rising disposable incomes, expanding middle-class populations, and increased brand awareness create a favorable environment for luxury watch sales in these regions.

  • Online Retail and E-commerce

The luxury watch market can benefit from digital transformation. Online retail platforms and e-commerce channels provide global consumers greater accessibility, convenience, and a broader reach. Luxury watch brands can capitalize on these platforms to expand their market presence and cater to the growing demand for online luxury shopping experiences.

Restraints/Challenges

  • Economic Uncertainties

Economic downturns, recessions, or changes in consumer spending patterns can all impact the global luxury watch market. Consumers may cut back on luxury purchases during difficult economic times, affecting demand and sales of high-end watches.

  • Counterfeit Products

The spread of counterfeit luxury watches poses a significant market challenge. Counterfeit products harm the brand reputation and result in revenue losses for genuine luxury watch manufacturers. Effective anti-counterfeiting measures and consumer education are crucial to combat this challenge.

Recent Development

  • In January 2023, OMEGA's latest Speedmaster was fine-tuned for precision thanks to the Spirate System, which includes a revolutionary new patent-pending spiral allowing ultra-fine rate adjustments. Thanks to this one-of-a-kind mechanism, it is now possible for OMEGA to achieve certified precision of only 0/+2 seconds a day

Global Luxury Watch Market Scope

The global luxury watch market is segmented based on type, gender type, and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

TYPE

  1. ANALOGUE WATCH
  2. DIGITAL WATCH

GENDER TYPE

  1. MEN
  2. WOMEN
  3. UNISEX
  4. KIDS

SALES CHANNEL

  1. ONLINE
  2. OFFLINE

Global Luxury Watch Market Regional Analysis/Insights

The global luxury watch market is analyzed and market size insights and trends are provided by country, type, gender type, and sales channel, as referenced above.

The countries covered in the global luxury watch market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.

Europe is the fastest growing and expected to dominate the global luxury watch market because it has a long-standing tradition of watchmaking excellence, with renowned brands and expertise concentrated in the region, giving it a competitive advantage in the luxury watch industry.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Global luxury watch industry growth and new technology penetration

The global luxury watch market also provides you with detailed market analysis for every country growth in luxury watch industry, installed new production plant, impact of technology using life line curves and changes in nucleating and clarifying agents regulatory scenarios and their impact on the global luxury watch market. The data is available for historic period 2015-2020.

Competitive Landscape and Global Luxury Watch Market Share Analysis

The global luxury watch market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the global luxury watch market are:

  • Rolex (Switzerland)
  • Omega (Switzerland)
  • Patek Philippe (Switzerland)
  • Audemars Piguet (Switzerland)
  • TAG Heuer (Switzerland)
  • Breitling (Switzerland)
  • Cartier (France)
  • Jaeger-LeCoultre (Switzerland)
  • IWC Schaffhausen (Switzerland)
  • Hublot (Switzerland)
  • Panerai (Italy)
  • Vacheron Constantin (Switzerland)
  • Richard Mille (Switzerland)
  • A. Lange & Söhne (Germany)
  • Chopard (Switzerland)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

FREQUENTLY ASK QUESTIONS

The Luxury Watch Market will be worth USD 11.54 billion by 2030.
The Luxury Watch Market Growth Rate is 4.4% during the forecast period.
The Growing Affluent Consumer Base, Brand Recognition, and Status Symbol are the Growth Drivers of the Luxury Watch Market.
The type, gender type, and sales channel are the factors on which the Luxury Watch Market research is based.
The OMEGA's latest Speedmaster was fine-tuned for precision thanks to the Spirate System, which includes a revolutionary new patent-pending spiral allowing ultra-fine rate adjustments are the latest developments in the Luxury Watch Market.
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials