What Fueled The Previous Growth In The Mechanical Watch Market?
The mechanical watch market has seen considerable growth due to a variety of factors.
• The mechanical watch market has grown steadily in recent years. It is set to rise from $43.98 billion in 2024 to $45.45 billion in 2025, reflecting a CAGR of 3.3%.
The growth has been attributed to greater awareness of mechanical watches, the expansion of the mechanical timepieces market, economic growth, and the rise of crowdfunding and online platforms.
What Can Be Expected from the Mechanical Watch Market Size?
The mechanical watch market is expected to maintain its strong growth trajectory in upcoming years.
• The mechanical watch market is projected to grow steadily, reaching $51.11 billion by 2029 at a CAGR of 3.0%.
Growth is due to rising sales in stores, fast fashion trends, appreciation for classical horology, the popularity of vintage styles, and an increase in manufacturing units. Key trends include technological advancements, material innovations, smart features, product innovation, and enhanced movements.
What Are the Critical Driver Fuelling The Mechanical Watch Market's Growth?
The increasing demand for luxury goods is expected to support the mechanical watch market. Luxury goods are non-essential items associated with superior craftsmanship and exclusivity, and their appeal is rising due to increased wealth and the desire for social status. This demand enhances the popularity of mechanical watches, which are prized for their craftsmanship and exclusivity. In May 2023, Montro B.V. noted that the U.S. had become the largest market for Swiss watches, growing by 26.3% in 2022 compared to the previous year, showcasing the impact of luxury goods demand on the mechanical watch market.
How Is The Mechanical Watch Market segmented?
The mechanical watch market covered in this report is segmented –
1) By Type: Stainless Steel Mechanical Watches, Leather Mechanical Watches, Metal Mechanical Watches, Titanium Mechanical Watches, Rubber Mechanical Watches, Plastic Mechanical Watches, Other Types
2) By Application: Men, Women
3) By Distribution Channel: Store-Based, Non-Store-Based
Subsegments:
1) By Stainless Steel Mechanical Watches: Men's Stainless Steel Watches, Women's Stainless Steel Watches
2) By Leather Mechanical Watches: Men's Leather Watches, Women's Leather Watches
3) By Metal Mechanical Watches: Brass Mechanical Watches, Aluminum Mechanical Watches, Other Metal Variants:
4) By Titanium Mechanical Watches: Men's Titanium Watches, Women's Titanium Watches
5) By Rubber Mechanical Watches: Sports and Dive Rubber Watches, Casual Rubber Watches
6) By Plastic Mechanical Watches: Unisex Plastic Watches, Kids' Plastic Watches
7) By Other Types: Ceramic Mechanical Watches, Wood Mechanical Watches, Composite Material Watches
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Which Emerging Market Trends Are Altering The Mechanical Watch Industry?
Key players in the mechanical watch industry are focusing on the development of cutting-edge products, such as three-dimensional openwork dial designs, to increase the visual appeal and uniqueness of their watches. A three-dimensional openwork dial design involved a special type of watch dial that combines depth and transparency to create a captivating and detailed aesthetic. For example, in July 2022, CIGA Design, a luxury watch company from China, unveiled the 3-in-1 designer mechanical watch. This revolutionary watch has a distinctive structure, flawlessly shifting from mechanical to smart and hybrid modes. Its clear dial exposes the intricate inner components, made of high-quality materials for longevity and elegance. The campaign offers early supporters exclusive rights to this blend of classic sophistication and contemporary functionality, redefining the standards in watch design.
Who Are the Key Players In The Mechanical Watch Market?
Major companies operating in the mechanical watch market are:
• Pobeda LCC
• Rolex Watch U.S.A. Inc.
• Citizen Watch Co. Ltd.
• Seiko Watch Corporation
• FOSSIL GROUP Inc.
• Cartier International SNC
• TAG Heuer
• Piaget SA
• OMEGA SA
• Le Petit-Fils de L.-U. Chopard & Cie S.A.
• Jaeger-LeCoultre SA
• Vacheron Constantin SA
• Blancpain SA
• Bulova
• Tissot SA
• Hublot
• Montres Tudor SA
• Invicta Watch Group
• Oris SA
• Hamilton International Ltd.
• Bell and Ross
• PATEK PHILIPPE SA
• Kairos Watches Inc.
• IWC International Watch Co. AG
• Charles-Hubert Paris
What Is The Most Dominant Region In The Mechanical Watch Market?
North America was the largest region in the mechanical watches market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mechanical watch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
