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Luxury Watches Market - Comprehensive Study Report & Recent Trends

Luxury Watches Market By Type ( Mechanical Watches, Electronic Watches ), By Application ( Men, Women ), By Region and Key Companies - Industry Analysis, Size, Share, Growth, Trends and Forecast 2021 – 2027

  • Report ID : IMR-15765 |
  • Category : Consumer Goods  |
  • Published Date : July 2021 |
  • Format :   IMR Report Formats   IMR Report Formats   IMR Report Formats

Luxury Watches Market Overview

Luxury Watches Market size is projected to reach USD 50,215.3 Million units by 2027 from an estimated USD 42,652.7 Million unit in 2020, growing at a CAGR of 4.15% globally.

There is no official definition of a luxury watch. Luxury watches are regarded as images in the minds of consumers that make up their associations with high standards of price, quality, aesthetics, rarity, extraordinary and non-functional associations. It also means a status symbol of people, that much Common attributes of luxury watches are limited availability, social distinction, exclusivity, exceptional quality, and high price. The number of individuals with high net worth is skyrocketing, and disposable income is rising. Spending on premium quality products is some of the factors driving the growth of global luxury watches market during the forecast period.                                                                                                                                                                                                           

Impact of Covid-19 on Luxury Watches Market

As the COVID-19 pandemic impacted the United States and major countries in Europe and Asia, which were the main consumers of luxury watches, the market saw reduced demand and lazy development due to various movement restrictions. People are facing huge losses in their business and temporary inactivity in export and import, which negatively impacted the growth of the market in 2020.

Scope of Luxury Watches Market

On the basis of type, the mechanical watches segment has gained major share in the global luxury watches market 2019, and is expected to maintain its market share during the forecast period 2021-2026. Luxury mechanical watches are majorly preferred over electronic watches as they are more complicated. A high-end mechanical watch contains a much larger number of small moving parts inside and takes hours and hours of effort to build. It's an impressive machine, a mechanical achievement in the analog world.

On the basis of End-User, luxury watches are gaining a lot of attention as men and women fashion trends rise. Entrepreneurs, celebrities, and men are target customers in the fashion world for luxury watches where they can buy them.

Market Segmentation

By Type, Luxury Watches has been segmented into:

  • Mechanical Watches
  • Electronic Watches

By Distribution Channel, Luxury Watches has been segmented into:

  • Online Store
  • Single Brand Store
  • Multi Brand Store

By Application, Luxury Watches has been segmented into:

  • Men
  • Women

Regions and Countries Level Analysis:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
  • Asia-Pacific (China, India, Japan, Southeast Asia etc.)
  • South America (Brazil, Argentina etc.)
  • Middle East & Africa (Saudi Arabia, South Africa etc.)

Drivers

The preference for luxury goods including watches mostly involved in men and women. The growing brand awareness, influence from the Western world and the inherent need for dominance are some of the factors contributing to the growing demand for luxury watches. Women are more interested in gold watches with diamonds. Therefore, many luxury watches makers focus on making golf or diamond watches. The growing working women is primarily attributable to the growth of the luxury watches market during the forecast period 2021- 2026.

Restraints

Counterfeit watches are unauthorized reproductions of genuine watches. As technology advances, many non-luxury and inexpensive quartz watches are also commonly counterfeited and sold on city streets and online. It only affects badly to the luxury watch making industry but also reduce the status and purchase of luxury watches.

Regional Analysis

Regionally, The Asia Pacific region is gaining significant traction in the luxury watches market and is growing at the fastest CAGR. Europe dominated the luxury watches market in 2019, and is expected to maintain its dominance over the forecast period. In Asia-Pacific region, development of countries like India and China are booming worldwide. The growing retail industry in India has primarily driven the market growth.

Players Covered in Luxury Watch market are :

  • CASIO Computer Co. Ltd.
  • Citizen Watch Co. Ltd.
  • Compagnie Financière Richemont SA
  • Fossil Group Inc.
  • LVMH Moet Hennessy -Louis Vuitton
  • Movado Group Inc.
  • Patek Philippe SA
  • Rolex SA
  • Seiko Holdings Corp
  • The Swatch Group Ltd.

Frequently Asked Questions :

  • The forecast period in the market research report is 2021-2027.

  • The key players mentioned are CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financière Richemont SA, Fossil Group Inc., LVMH Moet Hennessy -Louis Vuitton, Movado Group Inc., Patek Philippe SA, Rolex SA, Seiko Holdings Corp, The Swatch Group Ltd..

  • The Luxury Watch market is segmented into application type, product type and region. By Application type, the market is categorized into Men, Women. By product type, it is classified into Mechanical Watches, Electronic Watches and others. By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.), Asia-Pacific (China; India; Japan; Southeast Asia etc.), South America (Brazil; Argentina etc.), Middle East & Africa (Saudi Arabia; South Africa etc.).

  • There is no official definition of a luxury watch. Luxury watches are regarded as images in the minds of consumers that make up their associations with high standards of price, quality, aesthetics, rarity, extraordinary and non-functional associations. It also means a status symbol of people, that much Common attributes of luxury watches are limited availability, social distinction, exclusivity, exceptional quality, and high price.

  • Luxury Watches Market size is projected to reach USD 50,215.3 Million units by 2027 from an estimated USD 42,652.7 Million unit in 2020, growing at a CAGR of 4.15% globally.

1. Market Overview of Luxury Watch
	1.1 Luxury Watch Market Overview
		1.1.1 Luxury Watch Product Scope
		1.1.2 Market Status and Outlook
	1.2 Luxury Watch Market Size by Regions: 2015 VS 2021 VS 2026
	1.3 Luxury Watch Historic Market Size by Regions (2015-2020)
	1.4 Luxury Watch Forecasted Market Size by Regions (2021-2026)
	1.5 Covid-19 Impact on Key Regions, Keyword Market Size YoY Growth (2015-2026)
		1.5.1 North America
		1.5.2 Europe
		1.5.3 Asia Pacific
		1.5.4 Middle East & Africa
		1.5.5 South America
		1.5.6 Rest of the World
	1.6 Coronavirus Disease 2019 (Covid-19) Impact Will Have a Severe Impact on Global Growth
		1.6.1 Covid-19 Impact: Global GDP Growth, 2019, 2020 and 2021 Projections
		1.6.2 Covid-19 Impact: Commodity Prices Indices
		1.6.3 Covid-19 Impact: Global Major Government Policy
2. Covid-19 Impact Luxury Watch Sales Market by Type (2015-2026)
	2.1 Global Luxury Watch Historic Market Size by Type (2015-2020)
	2.2 Global Luxury Watch Forecasted Market Size by Type (2021-2026)
	2.3 Mechanical Watches
	2.4 Electronic Watches
3. Covid-19 Impact Luxury Watch Sales Market by Application (2015-2026)
	3.1 Global Luxury Watch Historic Market Size by Application (2015-2020)
	3.2 Global Luxury Watch Forecasted Market Size by Application (2021-2026)
	3.3 Men
	3.4 Women
4. Covid-19 Impact Market Competition by Manufacturers
	4.1 Global Luxury Watch Production Capacity Market Share by Manufacturers (2015-2020)
	4.2 Global Luxury Watch Revenue Market Share by Manufacturers (2015-2020)
	4.3 Global Luxury Watch Average Price by Manufacturers (2015-2020)
5. Company Profiles and Key Figures in Luxury Watch Business
	5.1 
		5.1.1  Company Profile
		5.1.2  Luxury Watch Product Specification
		5.1.3  Luxury Watch Production Capacity, Revenue, Price and Gross Margin (2015-2020)
6. North America
	6.1 North America Luxury Watch Market Size (2015-2026)
	6.2 North America Luxury Watch Key Players (2015-2020)
	6.3 North America Luxury Watch Market Size by Type (2015-2020)
	6.4 North America Luxury Watch Market Size by Application (2015-2020)
7. Europe
	7.1 Europe Luxury Watch Market Size (2015-2026)
	7.2 Europe Luxury Watch Key Players (2015-2020)
	7.3 Europe Luxury Watch Market Size by Type (2015-2020)
	7.4 Europe Luxury Watch Market Size by Application (2015-2020)
8. Asia Pacific
	8.1 Asia Pacific Luxury Watch Market Size (2015-2026)
	8.2 Asia Pacific Luxury Watch Key Players (2015-2020)
	8.3 Asia Pacific Luxury Watch Market Size by Type (2015-2020)
	8.4 Asia Pacific Luxury Watch Market Size by Application (2015-2020)
9. Middle East & Africa
	9.1 Middle East & Africa Luxury Watch Market Size (2015-2026)
	9.2 Middle East & Africa Luxury Watch Key Players (2015-2020)
	9.3 Middle East & Africa Luxury Watch Market Size by Type (2015-2020)
	9.4 Middle East & Africa Luxury Watch Market Size by Application (2015-2020)
10. South America
	10.1 South America Luxury Watch Market Size (2015-2026)
	10.2 South America Luxury Watch Key Players (2015-2020)
	10.3 South America Luxury Watch Market Size by Type (2015-2020)
	10.4 South America Luxury Watch Market Size by Application (2015-2020)
11. Rest of the World
	11.1 Rest of the World Luxury Watch Market Size (2015-2026)
	11.2 Rest of the World Luxury Watch Key Players (2015-2020)
	11.3 Rest of the World Luxury Watch Market Size by Type (2015-2020)
	11.4 Rest of the World Luxury Watch Market Size by Application (2015-2020)
16 Luxury Watch Market Dynamics
	16.1 Covid-19 Impact Market Top Trends
	16.2 Covid-19 Impact Market Drivers
	16.3 Covid-19 Impact Market Challenges
	16.4 Porter’s Five Forces Analysis
18 Regulatory Information
17 Analyst's Viewpoints/Conclusions
18 Appendix
	18.1 Research Methodology
		18.1.1 Methodology/Research Approach
		18.1.2 Data Source
	18.2 Disclaimer
Tables and figures
Table Main Market Activities by Regions
Table Market Revenue (M USD) and Growth Rate 2015-2020
Table Major Players
Table Market Revenue (M USD) and Growth Rate 2015-2020
Table Major Players
Table Market Revenue (M USD) and Growth Rate 2015-2020
Table Major Players
Table Market Revenue (M USD) and Growth Rate 2015-2020
Table Major Players
Table Market Revenue (M USD) and Growth Rate 2015-2020
Table Major Players
Table Major Production Market share by Players 2019
Table Major Revenue (M USD) Market share by Players 2019
Table Production Market share by Major Regions in 2015-2020
Table Production Market share by Major Regions in 2021-2026
Table Revenue (M USD) Market share by Regions in 2015-2020
Table Revenue (M USD) Market share by Regions in 2021-2026
Table Industry Supply chain Analysis
Table Raw material Prices Analysis 2015-2020
Table Raw material Suppliers Market Analysis
Table Manufacturing Equipment Suppliers Analysis
Figure Production Process Analysis
Figure Production Cost Structure
Table major End Users by Regions
Table  Information List
Figure Luxury Watch Picture, Specifications and Applications of 
Table Luxury Watch Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits
Table Business Locations
Figure Supply channels
Figure marketing strategy
Table Major Distributors and contact information by Regions
Table Major Customers and contact information by Regions
Table USA Supply, Import, Export, Consumption and Consumption Value (M USD)
Table Germany Supply, Import, Export, Consumption and Consumption Value (M USD)
Table China Supply, Import, Export, Consumption and Consumption Value (M USD)
Table Japan Supply, Import, Export, Consumption and Consumption Value (M USD)
Table India Supply, Import, Export, Consumption and Consumption Value (M USD)
Table World Demand by Regions Forecast Analysis of Permanent Magnet Synchronous Motor (PMSM) (2021-2026)
Table World Price by Regions Forecast Analysis of Permanent Magnet Synchronous Motor (PMSM) (2021-2026)
Table World Price by Types Forecast Analysis of Permanent Magnet Synchronous Motor (PMSM) (2021-2026)
Table World Price by Applications Forecast Analysis of Permanent Magnet Synchronous Motor (PMSM) (2021-2026)
Table World Revenue (M USD) by Regions Forecast Analysis of Permanent Magnet Synchronous Motor (PMSM) (2021-2026)
Table World Revenue (M USD) by Types Forecast Analysis of Permanent Magnet Synchronous Motor (PMSM) (2021-2026)
Table World Revenue (M USD) by Applications Forecast Analysis of Permanent Magnet Synchronous Motor (PMSM) (2021-2026)
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