Europe: Watch Market 2025

Watch Market Size in Europe

In 2021, the Europe watch market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a mild descent. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Watch Production in Europe

In value terms, watch production amounted to $X in 2021 estimated in export price. Over the period under review, production saw a pronounced curtailment. The growth pace was the most rapid in 2017 with an increase of 9.3% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Watch Exports

Exports in Europe

In 2021, after four years of decline, there was significant growth in shipments abroad of watches, when their volume increased by 6.2% to X units. In general, exports, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2015 with an increase of 6.7%. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, watch exports surged to $X in 2021. The total export value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Switzerland (X units) and Germany (X units) represented the major exporters of watches in 2021, resulting at approx. 23% and 20% of total exports, respectively. Belgium (X units) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (10%), France (6.9%) and Spain (5.5%). Poland (X units), the UK (X units) and Italy (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +11.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) remains the largest watch supplier in Europe, comprising 75% of total exports. The second position in the ranking was taken by France ($X), with a 5.6% share of total exports. It was followed by Germany, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Switzerland was relatively modest. In the other countries, the average annual rates were as follows: France (+1.2% per year) and Germany (-1.0% per year).

Export Prices by Country

The export price in Europe stood at $X per unit in 2021, increasing by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+20.0%), while the other leaders experienced more modest paces of growth.

Watch Imports

Imports in Europe

After five years of decline, purchases abroad of watches increased by 4.9% to X units in 2021. In general, imports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 7.2%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, watch imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units), distantly followed by France (X units), the Netherlands (X units), the UK (X units), Spain (X units), Belgium (X units), Italy (X units) and Poland (X units) represented the key importers of watches, together committing 76% of total imports. Russia (X units), Austria (X units), Sweden (X units) and the Czech Republic (X units) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +6.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest watch importing markets in Europe were France ($X), Germany ($X) and the UK ($X), with a combined 45% share of total imports. These countries were followed by Italy, the Netherlands, Spain, Austria, Russia, Belgium, Poland, the Czech Republic and Sweden, which together accounted for a further 29%.

Among the main importing countries, Poland, with a CAGR of +13.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Europe amounted to $X per unit, growing by 19% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, watch import price increased by +53.3% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+15.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform