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Report World - Watches - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

World - Watches - Market Analysis, Forecast, Size, Trends and Insights

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Global Watch Market 2024

Watch Market Size

In 2022, the global watch market increased by X% to $X, rising for the third year in a row after two years of decline. Overall, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the market value increased by X%. Global consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Watch Production

In value terms, watch production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, global production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Watch Exports

Exports

Global watch exports rose markedly to X units in 2022, picking up by X% on 2021. In general, exports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the global exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, watch exports rose modestly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, China (X units) was the main exporter of watches, committing X% of total exports. It was distantly followed by Hong Kong SAR (X units), committing an X% share of total exports. Switzerland (X units) held a minor share of total exports.

China was also the fastest-growing in terms of the watches exports, with a CAGR of X% from 2012 to 2022. Switzerland (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Switzerland ($X) remains the largest watch supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Hong Kong SAR ($X), with an X% share of global exports.

In Switzerland, watch exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average watch export price amounted to $X per unit, shrinking by X% against the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, watch export price increased by X% against 2014 indices. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. The global export price peaked at $X per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the other global leaders experienced more modest paces of growth.

Watch Imports

Imports

In 2022, approx. X units of watches were imported worldwide; with a decrease of X% compared with the previous year's figure. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, global imports hit record highs at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, watch imports reached $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the United States (X units) was the major importer of watches, constituting X% of total imports. It was distantly followed by Hong Kong SAR (X units), creating a X% share of total imports. The following importers - Indonesia (X units), the UK (X units), India (X units), Japan (X units), China (X units), Saudi Arabia (X units), France (X units), the Netherlands (X units), Mexico (X units), Spain (X units) and the United Arab Emirates (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to watch imports into the United States stood at X%. At the same time, Indonesia (X%), China (X%) and India (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, Spain (X%), the UK (X%), Mexico (X%), Saudi Arabia (X%), France (X%), Japan (X%), Hong Kong SAR (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, China and India increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest watch importing markets worldwide were Hong Kong SAR ($X), the United States ($X) and China ($X), with a combined X% share of global imports. France, Japan, the United Arab Emirates, the UK, the Netherlands, Spain, Saudi Arabia, Mexico, India and Indonesia lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average watch import price amounted to $X per unit, picking up by X% against the previous year. In general, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of consumption in 2023 were Greece, the United States and China, with a combined 50% share of global consumption. Japan, Hong Kong SAR, India, the Philippines, the UK, Indonesia and Spain lagged somewhat behind, together comprising a further 25%.
The country with the largest volume of watch production was China, comprising approx. 51% of total volume. Moreover, watch production in China exceeded the figures recorded by the second-largest producer, Greece, threefold. The third position in this ranking was taken by Japan, with an 8.3% share.
In value terms, Switzerland remains the largest watch supplier worldwide, comprising 53% of global exports. The second position in the ranking was held by Hong Kong SAR, with an 11% share of global exports.
In value terms, Hong Kong SAR, the United States and China constituted the countries with the highest levels of imports in 2022, together accounting for 34% of global imports. France, Japan, the United Arab Emirates, the UK, the Netherlands, Spain, Saudi Arabia, Mexico, India and Indonesia lagged somewhat behind, together comprising a further 26%.
In 2022, the average watch export price amounted to $61 per unit, falling by -8% against the previous year.
In 2022, the average watch import price amounted to $81 per unit, surging by 4.9% against the previous year.

This report provides an in-depth analysis of the global watch market. 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:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Ralph Lauren, Fossil Group, Citizen, Casio, Patek Philippe, Audemars Piguet, Rolex, Chopard, Breitling, Franck Muller, American Watch Company, Montrichard Group, Weiss Watch Company, Keaton Myrick, Vortic, DuFrane, RGM, Pelton, Kobold, Shinola, Throne, Detroit Watch Company, Talley & Twine, Charriol, Breitling SA, 88 Rue du Rhone, A. Favre & Fils, Abraham-Louis Perrelet, Allgemeine Gesellschaft der Schweizerischen Uhrenindustrie, Alpina Watches, Andreas Strehler, Arcadia Watches, Armand Nicolet, Audemars Piguet, Baume et Mercier, Bedat & Co, Blanchet, Blancpain, Brand, Carl F. Bucherer, Catorex Cecil Purnell, Century Time Gems, Certina Kurth Frères, Charriol, Chopard Christian, Jacques, Chronoswiss, Corum, Cyma Watches, Czapek & Cie, Daniel Roth, De Grisogono, Ebel, Eberhard & Co., Endura Watch Factory, Era Watch Company, Ernest Borel, ETA SA, Eterna F. P. Journe, Favre-Leuba, Franck Muller, Frédérique Constant, Gallet & Co., General Watch Co, Girard-Perregaux, Glycine watch, Greubel Forsey, Grovana Watch, Hanowa, Hublot HYT, International Watch Company, Jaeger-LeCoultre, Jean Perret, Jovial, Juvenia, Movements, Longines, Luminox Maitres du Temps, Manufacture Modules Technologies (MMT), Manufacture royale, Mathey-Tissot, Maurice Lacroix, MB&F, Mb-microtec, Mido, Mouawad Ollech & Wajs, Omega SA, Oris, Parmigiani Fleurier, Patek Philippe & Co., Piaget SA, Rado, Raymond Weil, Ribordy Watches Richard Mille, Richemont, Roamer, Roger Dubuis, Rolex, Romain Gauthier Ronda, Rotary Watches, Sandoz watches, Schwarz Etienne Sowind Group, Speake-Marin, TAG Heuer, The Swatch Group, Tissot Titoni, Tudor Watches, Ulysse Nardin, Universal Genève, Urwerk, Vacheron Constantin, Valbray Waltham International, West End Watch Co., Zenith, Zeno-Watch Basel, Zodiac Watches

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 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. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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