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Luxury Watch Market Size, Share & Trends Analysis Report By Product (Mechanical, Electronic), By Distribution Channel (Offline, Online), By Region (Asia Pacific, Europe, North America), And Segment Forecasts, 2022 - 2030

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    Report

  • 80 Pages
  • November 2022
  • Region: Global
  • Grand View Research
  • ID: 5702195
Description Jump to:
The global luxury watch market size is expected to reach USD 62.25 billion by 2030., registering a CAGR of 5.2% over the forecast period. The major factors that drive the growth are increasing awareness about brands that have influenced westernization and the inherent need for exclusivity. The rapidly increased demand for luxury watches from women also drives the industry. Rising penetration of the e-commerce sector will create ample opportunity for industry growth over the forecast period. The high cost of luxury watches, as well as the rapid rise in the price of the production process, hampers the growth.

The COVID-19 pandemic had a negative impact on the market. The COVID-19 pandemic affected manufacturing activities and disrupted the distribution network of the market internationally. Product sales in Europe and North America were largely affected due to the prolonged lockdown and restrictions on movements. In 2020, the Swiss watch shipment fell by around 22% in value terms while it declined by 33% in volume terms. The market is expected to recover considerably over the forecast period. The mechanical product segment is expected to register the fastest growth rate during the forecast period.

Mechanical luxury watches are largely preferred over electronic watches as they have a larger number of tiny parts inside and have a lengthy and laborious manufacturing process. A large number of mechanical watch buyers are discerned, and therefore the buyer cares about the tiny details, one that appreciates history and heritage. Mechanical watch demand is growing at a rapid pace. Asia Pacific dominated the global industry in 2021 and is expected to grow at a considerable CAGR over the forecast period. This is attributed to a rise in economic development in countries, such as India, China, and Japan, leading to a higher standard of living.

This led to the concentration of a large number of people in the region. China is the largest market for luxury watches in the region owing to the presence of a high-net-worth population. In addition, major players are making their presence in this region, which acts as one of the key growth drivers for the industry's development. Companies are working on new product development to get a competitive advantage over others. For instance, in 2019, Rolex SA had come up with a 2019 collection with 6 new models, such as YACHT master 42, Sea-Dweller, GMT master II, Day-Date 60, Datejust 36, and Datejust 31.

Luxury Watch Market Report Highlights

  • North America is expected to register a steady CAGR over the forecast period due to rising consumer awareness about a fit and healthy lifestyle
  • In addition, evolution in the fashion industry is expected to be the major driving factor for regional growth
  • The electronic watch segment led the industry in 2021due to the greater accuracy and they often have a few extra functions, such as the countdown and multiple alarms
  • The online distribution channel segment is expected to grow at the fastest CAGR over the forecast period. Companies are increasing their online retail to further support the increasing sales globally
  • Moreover, key companies are now concentrating on social media platforms and online distribution channels for online marketing as well as branding their products to attract more customers


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Products & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Distribution Channel Outlook
2.4. Regional Outlook
Chapter 3. Luxury Watch Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Luxury Watch Market
3.7. Market Entry Strategies
3.8. COVID-19 Impact Analysis
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Luxury Watch Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2021 & 2030
5.2. Electronic
5.2.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
5.3. Mechanical
5.3.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
Chapter 6. Luxury Watch Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2030
6.2. Offline
6.2.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
6.3. Online
6.3.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
Chapter 7. Luxury Watch Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2021 & 2030
7.2. North America
7.2.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.2.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.2.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.2.4. U.S.
7.2.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.2.4.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.2.4.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.2.5. Canada
7.2.5.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.2.5.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.2.5.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.2.6. Mexico
7.2.6.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.2.6.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.2.6.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.3. Europe
7.3.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.3.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.3.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.3.4. U.K.
7.3.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.3.4.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.3.4.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.3.5. Germany
7.3.5.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.3.5.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.3.5.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.3.6. France
7.3.6.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.3.6.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.3.6.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.3.7. Italy
7.3.7.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.3.7.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.3.7.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.3.8. Spain
7.3.8.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.3.8.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.3.8.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.4. Asia Pacific
7.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.4.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.4.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.4.4. China
7.4.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.4.4.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.4.4.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.4.5. India
7.4.5.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.4.5.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.4.5.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.4.6. Japan
7.4.6.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.4.6.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.4.6.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.4.7. South Korea
7.4.7.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.4.7.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.4.7.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.4.8. Indonesia
7.4.8.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.4.8.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.4.8.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.5. Central & South America
7.5.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.5.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.5.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.5.4. Brazil
7.5.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.5.4.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.5.4.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.6. Middle East & Africa
7.6.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.6.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.6.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
7.6.4. Turkey
7.6.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.6.4.2. Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
7.6.4.3. Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
Chapter 8. Competitive Analysis
8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. Key company market share analysis, 2018
Chapter 9. Company Profiles
9.1. Apple Inc.
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. The Swatch Group Ltd
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Audemars Piguet Holding S.A.
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. Fossil Group, Inc.
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. Citizen Watch Company Of America, Inc.
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. Seiko Watch Corporation
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Compagnie Financiere Richemont SA
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. LVMH Moet Hennessy -Louis Vuitton
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. Movado Group Inc.
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. Ralph Lauren Corp.
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic Initiatives
List of Tables
1. Luxury Watch Market - Key Market Driver Analysis
2. Luxury Watch Market - Key Market Restraint Analysis
3. Global Luxury Watch Market Estimates And Forecast By Electronic, from 2017 - 2030 (USD Million)
4. Global Luxury Watch Market Estimates And Forecast By Mechanical, from 2017 - 2030 (USD Million)
5. Global Luxury Watch Market Estimates And Forecast through offline channel, from 2017 - 2030 (USD Million)
6. Global Luxury Watch Market Estimates And Forecast through online channel, from 2017 - 2030 (USD Million)
7. Global Luxury Watch Market Estimates And Forecast, By Region 2017 - 2030 (USD Million)
8. Global Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
9. Global Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
10. North America Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
11. North America Luxury Watch Market Estimates And Forecast, By Product, 2017 - 2030 (USD Million)
12. North America Luxury Watch Market Estimates And Forecast, By Distribution Channel, 2017 - 2030 (USD Million)
13. U.S. Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
14. U.S. Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
15. U.S. Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
16. Canada Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
17. Canada Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
18. Canada Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
19. Mexico Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
20. Mexico Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
21. Mexico Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
22. Europe Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
23. Europe Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
24. Europe Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
25. U.K. Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
26. U.K. Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
27. U.K. Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
28. Germany Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
29. Germany Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
30. Germany Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
31. France Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
32. France Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
33. France Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
34. Italy Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
35. Italy Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
36. Italy Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
37. Spain Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
38. Spain Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
39. Spain Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
40. Asia Pacific Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
41. Asia Pacific Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
42. Asia Pacific Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
43. China Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
44. China Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
45. China Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
46. India Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
47. India Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
48. India Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
49. Japan Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
50. Japan Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
51. Japan Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
52. South Korea Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
53. South Korea Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
54. South Korea Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
55. Indonesia Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
56. Indonesia Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
57. Indonesia Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
58. Central & South America Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
59. Central & South America Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
60. Central & South America Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
61. Brazil Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
62. Brazil Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
63. Brazil Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
64. Middle East & Africa Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
65. Middle East & Africa Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
66. Middle East & Africa Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
67. Turkey Luxury Watch Market Estimates And Forecast, 2017 - 2030 (USD Million)
68. Turkey Luxury Watch Market Estimates And Forecast By Product, 2017 - 2030 (USD Million)
69. Turkey Luxury Watch Market Estimates And Forecast By Distribution Channel, 2017 - 2030 (USD Million)
70. Vendor landscape
List of Figures
1. Luxury Watch Market Snapshot
2. Luxury Watch Market Segmentation & Scope
3. Luxury Watch Market Penetration & Growth Prospect Mapping
4. Luxury Watch Market Value Chain Analysis
5. Luxury Watch Market Dynamics
6. Luxury Watch Market Porter's Analysis
7. Luxury Watch Market: Product Movement Analysis
8. Luxury Watch Market: Distribution Channel Movement Analysis
9. Luxury Watch Market: Regional Movement Analysis

Companies Mentioned

  • Apple Inc.
  • The Swatch Group Ltd
  • Audemars Piguet Holding S.A.
  • Fossil Group, Inc.
  • Citizen Watch Company of America, Inc.
  • Seiko Watch Corporation
  • Compagnie Financiere Richemont Sa
  • Lvmh Moet Hennessy -Louis Vuitton
  • Movado Group Inc.
  • Ralph Lauren Corp.

Methodology

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Table Information

Report AttributeDetails
No. of Pages80
PublishedNovember 2022
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 42.2 Billion
Forecasted Market Value ( USD ) by 2030 $ 62.25 Billion
Compound Annual Growth Rate5.2%
Regions CoveredGlobal
No. of Companies Mentioned10

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