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Asia-Pacific - Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingAsia-Pacific: Watch Market 2024
Watch Market Size in Asia-Pacific
The Asia-Pacific watch market expanded notably to $X in 2023, picking up by X% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a lower figure.
Watch Production in Asia-Pacific
In value terms, watch production expanded slightly to $X in 2023 estimated in export price. In general, production recorded a pronounced expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2023, production growth remained at a somewhat lower figure.
Watch Exports
Exports in Asia-Pacific
In 2023, after two years of growth, there was decline in shipments abroad of watches, when their volume decreased by X% to X units. Overall, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
In value terms, watch exports reduced slightly to $X in 2023. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
China was the main exporter of watches in Asia-Pacific, with the volume of exports reaching X units, which was near X% of total exports in 2023. It was distantly followed by Hong Kong SAR (X units), committing a X% share of total exports. The Philippines (X units) and Thailand (X units) held a little share of total exports.
Exports from China decreased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X%) and Thailand (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Hong Kong SAR ($X) remains the largest watch supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.
In Hong Kong SAR, watch exports contracted by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Thailand (X% per year).
Export Prices by Country
The export price in Asia-Pacific stood at $X per unit in 2023, leveling off at the previous year. In general, the export price saw a moderate expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.
Watch Imports
Imports in Asia-Pacific
After two years of growth, purchases abroad of watches decreased by X% to X units in 2023. Overall, imports recorded a slight slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2023, imports failed to regain momentum.
In value terms, watch imports stood at $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.
Imports by Country
India was the key importer of watches in Asia-Pacific, with the volume of imports accounting for X units, which was near X% of total imports in 2023. It was distantly followed by Hong Kong SAR (X units) and Indonesia (X units), together achieving a X% share of total imports. Japan (X units), China (X units), Singapore (X units), the Philippines (X units), Thailand (X units) and Macao SAR (X units) took a relatively small share of total imports.
India was also the fastest-growing in terms of the watches imports, with a CAGR of X% from 2012 to 2023. At the same time, the Philippines (X%), Macao SAR (X%), Indonesia (X%) and China (X%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Japan (X%), Thailand (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of India (X p.p.), Indonesia (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Thailand (X p.p.), Japan (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest watch importing markets in Asia-Pacific were Hong Kong SAR ($X), China ($X) and Japan ($X), with a combined X% share of total imports. Singapore, Macao SAR, Thailand, India, Indonesia and the Philippines lagged somewhat behind, together accounting for a further X%.
Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The import price in Asia-Pacific stood at $X per unit in 2023, rising by X% against the previous year. Import price indicated a perceptible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, watch import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of import peaked at $X per unit in 2021; however, from 2022 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while India ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the watch market in Asia-Pacific. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
- Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
- Afghanistan
- American Samoa
- Australia
- Bangladesh
- Bhutan
- Brunei Darussalam
- Cambodia
- China
- Cook Islands
- Democratic People's Republic of Korea
- Fiji
- French Polynesia
- Guam
- Hong Kong SAR
- India
- Indonesia
- Japan
- Kiribati
- Lao People's Democratic Republic
- Macao SAR
- Malaysia
- Maldives
- Marshall Islands
- Micronesia
- Myanmar
- Nauru
- Nepal
- New Caledonia
- New Zealand
- Niue
- Northern Mariana Islands
- Pakistan
- Palau
- Papua New Guinea
- Philippines
- Samoa
- Singapore
- Solomon Islands
- South Korea
- Sri Lanka
- Taiwan (Chinese)
- Thailand
- Timor-Leste
- Tokelau
- Tonga
- Tuvalu
- Vanuatu
- Vietnam
- Wallis and Futuna Islands
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Asia-Pacific, split by region and country
- Trade (exports and imports) in Asia-Pacific
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Afghanistan
- Australia
- Bangladesh
- Bhutan
- Brunei Darussalam
- Cambodia
- China
- Hong Kong SAR
- Macao SAR
- Cook Islands
- Fiji
- French Polynesia
- India
- Indonesia
- Japan
- Kiribati
- Malaysia
- Maldives
- Marshall Islands
- Micronesia
- Myanmar
- Nepal
- New Caledonia
- New Zealand
- Northern Mariana Islands
- Pakistan
- Palau
- Papua New Guinea
- Philippines
- Samoa
- Singapore
- Solomon Islands
- South Korea
- Sri Lanka
- Taiwan (Chinese)
- Thailand
- Timor-Leste
- Tokelau
- Tonga
- Tuvalu
- Vanuatu
- Vietnam
- Wallis and Futuna Islands
- Lao People's Democratic Republic
- American Samoa
- Democratic People's Republic of Korea
- Nauru
- Niue
- Guam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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