Global Luxury Watch Market is anticipated to grow with a healthy growth rate of more than 3.25% over the forecast period 2023-2030. A luxury watch is a meticulously crafted timepiece that embodies exceptional craftsmanship, precision engineering, and exquisite design. It is typically made with the finest materials, including precious metals, diamonds, and high-quality leathers. Luxury watches often showcase intricate complications, such as tourbillons, perpetual calendars, and chronographs, demonstrating the brand's technical prowess and innovation. Beyond their functional purpose of telling time, luxury watches are regarded as symbols of status, refinement, and a timeless sense of style, appealing to discerning individuals who appreciate the artistry, exclusivity, and enduring value that these timepieces represent. The factors driving the growth of luxury watch market are rising demand for luxury goods and growing consumer preference for high-quality, premium watches.
According to Europa Star, an international watch magazine, the global market value of Rolex in 2021 was USD 8.81 billion thus leading the luxury watch market. Another factor driving the market is growing consumer preference for high-quality, premium watches. Worldwide, people are interested in using high-quality products that are made using advanced technology and materials. Owning such products is seen as a way to show off one's social status. Moreover, the innovation of luxury smartwatches with advanced features, such as monitoring heart rate, blood and oxygen levels, sleep patterns, and tracking physical activity along with the customization and personalized options is expected to create abundant opportunities in the market. However, the high cost of Luxury Watch and intense competition with numerous established brands and new entrants vying for market share stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Luxury Watch Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to its strong economy, large middle class with considerable disposable income, and strong influence on global fashion and trends. However, Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as rising disposable income, growing consumer base, and increasing preference for luxury goods, particularly in countries like China, Japan, and South Korea. According to the Federation of the Swiss Watch Industry, Swiss watch exports to Mainland markets, primarily China, reached a total of CHF 212 million (USD 2.39 billion) in 2022, accounting for 8.8% of the market share.
Major market player included in this report are:
- Rolex SA
- Hermes International SA
- Chanel SA
- Moet Hennessy Louis Vuitton SE (LVMH)
- Kering Group
- Compagnie Financiere Richemont SA
- The Swatch Group Ltd
- Audemars Piguet
- Patek Philippe SA
- The Swatch Group Ltd
Recent Developments in the Market:
- In December 2022, Bucherer, a prominent luxury goods company, acquired Klarlund, a renowned Danish watch and jewelry retailer. This strategic acquisition is expected to support Klarlund in solidifying its position as a leading destination for watch enthusiasts in Denmark.
- In October 2022, Ethos Limited, a luxury watch retailer, revealed its intentions to launch 30-35 new stores across India within the next three years. The company's expansion plans are driven by the growing demand for luxury watches in the Indian market.
Global Luxury Watch Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, End User, Distribution Channel, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Type:
- Analog Watch
- Digital Watch
By End User:
By Distribution Channel:
- Offline Retail Stores
- Online Retail Stores
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Luxury Watch Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Luxury Watch Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Luxury Watch Market, by End User, 2020-2030 (USD Billion)
- 1.2.4. Luxury Watch Market, by Distribution Channel, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Luxury Watch Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Luxury Watch Market Dynamics
- 3.1. Luxury Watch Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising demand for luxury goods
- 3.1.1.2. Growing consumer preference for high-quality, premium watches
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Luxury Watch
- 3.1.2.2. Intense competition with numerous established brands and new entrants vying for market share
- 3.1.3. Market Opportunities
- 3.1.3.1. Innovation with advanced features such as health tracker and physical activity tracking
- 3.1.3.2. Customization and personalized options
Chapter 4. Global Luxury Watch Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Luxury Watch Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Luxury Watch Market by Type, Performance - Potential Analysis
- 5.3. Global Luxury Watch Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Luxury Watch Market, Sub Segment Analysis
- 5.4.1. Analog Watch
- 5.4.2. Digital Watch
Chapter 6. Global Luxury Watch Market, by End User
- 6.1. Market Snapshot
- 6.2. Global Luxury Watch Market by End User, Performance - Potential Analysis
- 6.3. Global Luxury Watch Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
- 6.4. Luxury Watch Market, Sub Segment Analysis
- 6.4.1. Women
- 6.4.2. Men
- 6.4.3. Unisex
Chapter 7. Global Luxury Watch Market, by Distribution Channel
- 7.1. Market Snapshot
- 7.2. Global Luxury Watch Market by Distribution Channel, Performance - Potential Analysis
- 7.3. Global Luxury Watch Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
- 7.4. Luxury Watch Market, Sub Segment Analysis
- 7.4.1. Offline Retail Stores
- 7.4.2. Online Retail Stores
Chapter 8. Global Luxury Watch Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Luxury Watch Market, Regional Market Snapshot
- 8.4. North America Luxury Watch Market
- 8.4.1. U.S. Luxury Watch Market
- 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. End User breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Distribution Channel breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Luxury Watch Market
- 8.5. Europe Luxury Watch Market Snapshot
- 8.5.1. U.K. Luxury Watch Market
- 8.5.2. Germany Luxury Watch Market
- 8.5.3. France Luxury Watch Market
- 8.5.4. Spain Luxury Watch Market
- 8.5.5. Italy Luxury Watch Market
- 8.5.6. Rest of Europe Luxury Watch Market
- 8.6. Asia-Pacific Luxury Watch Market Snapshot
- 8.6.1. China Luxury Watch Market
- 8.6.2. India Luxury Watch Market
- 8.6.3. Japan Luxury Watch Market
- 8.6.4. Australia Luxury Watch Market
- 8.6.5. South Korea Luxury Watch Market
- 8.6.6. Rest of Asia Pacific Luxury Watch Market
- 8.7. Latin America Luxury Watch Market Snapshot
- 8.7.1. Brazil Luxury Watch Market
- 8.7.2. Mexico Luxury Watch Market
- 8.8. Middle East & Africa Luxury Watch Market
- 8.8.1. Saudi Arabia Luxury Watch Market
- 8.8.2. South Africa Luxury Watch Market
- 8.8.3. Rest of Middle East & Africa Luxury Watch Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Rolex SA
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Hermes International SA
- 9.3.3. Chanel SA
- 9.3.4. Moet Hennessy Louis Vuitton SE (LVMH)
- 9.3.5. Kering Group
- 9.3.6. Compagnie Financiere Richemont SA
- 9.3.7. The Swatch Group Ltd
- 9.3.8. Audemars Piguet
- 9.3.9. Patek Philippe SA
- 9.3.10. The Swatch Group Ltd
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption