Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Luxury Watch Market size was valued at USD 46.05 billion in 2024 and is set to exceed USD 87.92 billion by 2037, expanding at over 5.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of luxury watch is estimated at USD 48.05 billion.
The growth of the market can be attributed to the increasing spending capacity of consumers backed by rising disposable income of high class and upper-middle class individuals, who are the target consumers for this market. Moreover, escalating shift towards following trends and adoption of high-end brands is estimated to boost the market growth. The market is concentrated in highly developed nations, where consumers can afford expensive products for their brand value.
Luxury Watch Sector: Growth Drivers and Challenges
Growth Drivers
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Rising Personal Disposable Income in Developed Countries
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Growing Trend of Adoption of High-End Brands among Young Consumers
Challenges
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Increasing Circulation of Replica of such Watches on a Much Lower Price
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Extremely High Cost of Luxury Watches
Luxury Watch Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
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Forecast Year |
2025-2037 |
|
CAGR |
5.1% |
|
Base Year Market Size (2024) |
USD 46.05 billion |
|
Forecast Year Market Size (2037) |
USD 87.92 billion |
|
Regional Scope |
|
Luxury Watch Segmentation
The luxury watch market is segmented by distribution channel into online retail, departmental stores, and exclusive showrooms, out of which, the exclusive showrooms segment is anticipated to hold the largest share in the market during the forecast period as exclusive showrooms provide a satisfactory shopping experience to the consumers in the form of trials, personal assistance and overall sensory experience. Additionally, there are no shipping charges or any additional fee, which attracts the shoppers to opt exclusive showrooms over other channels, which is expected to boost the growth of the segment. On the basis of design, the market is segmented into male, female, and unisex watches, out of which, the unisex segment is anticipated to hold a major share in the market over the forecast period owing to its larger scope of application.
Our in-depth analysis of the global luxury watch market includes the following segments:
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By Type |
|
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By Distribution Channel |
|
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By Design
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Luxury Watch Industry - Regional Synopsis
North America Market Statistics
North America industry is poised to dominate majority revenue share by 2037, owing to presence of major companies in the region, coupled with high per capita income and expanding status of upper middle class. Luxury watches stand as a status symbol among the young generation, in the region, which is estimated to boost the market growth.
Europe Market Analysis
The luxury watch market in Europe is anticipated to closely follow the market in North America and hold a major market share owing to the high disposable income of the consumers in the region. Countries, such as, Switzerland, and U.K. are estimated to witness maximum growth owing to the stable economy, and high spending potential of the consumers.
Companies Dominating the Luxury Watch Landscape
- ROLEX SA
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Audemars Piguet
- Burberry Group plc
- CASIO COMPUTER CO., LTD.
- CHANEL
- Dolce&Gabbana S.r.l.
- Seiko Watch Corporation
- Giorgio Armani S.p.A.
- PATEK PHILIPPE SA GENEVE
- Titan Company Limited
Author Credits: Dhruv Bhatia
- Report ID: 126
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
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Luxury Watch Market Report Scope
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