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

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

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Global Watch Market 2024

Watch Market Size

The global watch market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, continues to indicate a pronounced descent. Global consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Watch Production

In value terms, watch production fell slightly to $X in 2021 estimated in export price. Overall, production, however, saw a perceptible setback. The pace of growth appeared the most rapid in 2015 when the production volume increased by 5.7%. As a result, production attained the peak level of $X. From 2016 to 2021, global production growth failed to regain momentum.

Watch Exports

Exports

Global watch exports skyrocketed to X units in 2021, jumping by 17% compared with the previous year. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 147% against the previous year. The global exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, watch exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the global exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X units) represented the main exporter of watches, constituting 61% of total exports. It was distantly followed by Hong Kong SAR (X units), achieving a 23% share of total exports. The following exporters - Switzerland (X units), Thailand (X units) and Germany (X units) - each accounted for a 6.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to watch exports from China stood at -5.0%. At the same time, Thailand (+7.9%) and Germany (+6.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +7.9% from 2012-2021. By contrast, Switzerland (-6.5%) and Hong Kong SAR (-8.5%) illustrated a downward trend over the same period. While the share of China (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Hong Kong SAR (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Switzerland ($X) remains the largest watch supplier worldwide, comprising 53% of global exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 13% share of global exports. It was followed by China, with a 4.5% 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: Hong Kong SAR (-1.5% per year) and China (+0.3% per year).

Export Prices by Country

In 2021, the average watch export price amounted to $X per unit, increasing by 12% against the previous year. In general, the export price enjoyed a strong increase. The growth pace was the most rapid in 2016 an increase of 148% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

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 2021, the most notable rate of growth in terms of prices was attained by Thailand (+27.8%), while the other global leaders experienced more modest paces of growth.

Watch Imports

Imports

In 2021, supplies from abroad of watches increased by 15% to X units for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports, however, saw a deep slump. Over the period under review, global imports hit record highs at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, watch imports soared to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X units), distantly followed by Hong Kong SAR (X units) represented the main importers of watches, together generating 44% of total imports. The following importers - Paraguay (X units), Germany (X units), the United Arab Emirates (X units), France (X units), Japan (X units), Saudi Arabia (X units), India (X units), El Salvador (X units), the Netherlands (X units), Indonesia (X units) and China (X units) - together made up 28% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Indonesia (with a CAGR of +49.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), the United States ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, with a combined 38% share of global imports. These countries were followed by France, Japan, Germany, the United Arab Emirates, the Netherlands, Saudi Arabia, India, Indonesia, Paraguay and El Salvador, which together accounted for a further 22%.

Among the main importing countries, Indonesia, with a CAGR of +29.5%, recorded 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 2021, the average watch import price amounted to $X per unit, picking up by 17% against the previous year. Overall, the import price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 22%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

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 China ($X per unit), while El Salvador ($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 United States (+12.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

South Africa remains the largest watch consuming country worldwide, accounting for 65% of total volume. Moreover, watch consumption in South Africa exceeded the figures recorded by the second-largest consumer, the United States, more than tenfold. The third position in this ranking was occupied by China, with a 5% share.
South Africa remains the largest watch producing country worldwide, accounting for 94% of total volume. Moreover, watch production in South Africa exceeded the figures recorded by the second-largest producer, China, more than tenfold.
In value terms, China remains the largest watch supplier worldwide, comprising 6.2% of global exports. The second position in the ranking was occupied by South Africa, with a 0.1% share of global exports.
In value terms, the largest watch importing markets worldwide were Hong Kong SAR, the United States and China, together comprising 40% of global imports. These countries were followed by France, Japan, the United Arab Emirates, South Korea, Saudi Arabia, the Philippines, Ireland, South Africa and Nigeria, which together accounted for a further 17%.
In 2021, the average watch export price amounted to $3.3 per unit, with a decrease of -81.6% against the previous year.
The average watch import price stood at $38 per unit in 2021, increasing by 13% 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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