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China - Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingChina: Watch Market 2024
Watch Market Size in China
In 2023, the Chinese watch market increased by X% to $X for the first time since 2020, thus ending a two-year declining trend. Overall, consumption continues to indicate a prominent increase. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.
Watch Production in China
In value terms, watch production stood at $X in 2023 estimated in export price. In general, production enjoyed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2023, production growth failed to regain momentum.
Watch Exports
Exports from China
After two years of growth, overseas shipments of watches decreased by X% to X units in 2023. Overall, exports saw a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at X units in 2014; however, from 2015 to 2023, the exports failed to regain momentum.
In value terms, watch exports totaled $X in 2023. In general, exports, however, recorded 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 exports peaked at $X in 2015; however, from 2016 to 2023, the exports remained at a lower figure.
Exports by Country
India (X units), Hong Kong SAR (X units) and the United States (X units) were the main destinations of watch exports from China, with a combined X% share of total exports. Saudi Arabia, the United Arab Emirates, Uruguay, Indonesia, Malaysia, Singapore, Japan, Australia, Mexico and South Africa lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for Australia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Hong Kong SAR ($X) remains the key foreign market for watches exports from China, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Japan, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Hong Kong SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).
Export Prices by Country
The average watch export price stood at $X per unit in 2023, growing by X% against the previous year. In general, the export price posted measured growth. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Uruguay ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.
Watch Imports
Imports into China
In 2023, overseas purchases of watches decreased by X% to X units, falling for the second year in a row after three years of growth. In general, imports, however, recorded a temperate increase. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.
In value terms, watch imports reached $X in 2023. Over the period under review, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.
Imports by Country
Switzerland (X units), Thailand (X units) and Japan (X units) were the main suppliers of watch imports to China, together accounting for X% of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced a decline.
In value terms, Switzerland ($X) constituted the largest supplier of watches to China, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of value from Switzerland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).
Import Prices by Country
The average watch import price stood at $X per unit in 2023, surging by X% against the previous year. Overall, the import price showed slight growth. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2023 and is expected to retain growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the watch market in China. 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:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- 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 -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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
- 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 Of Origin, 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, By Country Of Destination, 2012–2023
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