In 2022, Rolex was the largest player in the global luxury watch market with almost one-third retail market share in the luxury watch industry. Other well-known Swiss brands Omega and Cartier followed Rolex in the ranking with market shares of 7.7 percent and 7 percent, respectively.

World capital of luxury watches  

The concept of luxury watches is almost synonymous with Swiss watches. Renowned for their precision, quality and durability, watches from Switzerland are in high demand all around the globe. The domination of Swiss watches in the luxury watch market, which is a multi-billion-dollar industry, is further attested by the ranking of leading luxury watch brands based on their annual sales. The worldwide success of Swiss watch brands also plays an important role for the economy of Switzerland, as the country generated over 15 billion Swiss francs from the export of luxury watches in 2021.  

 Future of traditional watches 

Even though Swiss watches are perceived, sold, and owned as luxury goods items, the future of traditional, analog watches may not be as bright as the economic figures indicate. In 2019, Apple Watch alone outperformed the entire Swiss watch industry, which could indicate a shift in consumer choices towards more digital options.

Luxury Watch Market Analysis | Industry Forecast, Size & Report Insights

Dataset updated: Jun 27, 2024

Dataset authored and provided by: Mordor Intelligence

License: https://www.mordorintelligence.com/privacy-policy

Time period covered: 2019 - 2029

Area covered: Global

Variables measured: CAGR, Market size, Market share analysis, Global trends, Industry forecast

Description: The Luxury Watch Market size is estimated at USD 51.31 billion in 2024, and is expected to reach USD 68.17 billion by 2029, growing at a CAGR of 5.84% during the forecast period (2024-2029)

Quantitative Units: Revenue in USD Billion, Volumes in Units, Pricing in USD

Regions and Countries Covered (from Scope of Report):

• North America: United States, Canada, Mexico, Rest of North America
• Europe: Germany, United Kingdom, France, Italy, Russia, Spain, Rest of Europe
• Asia-Pacific: India, China, Australia, Japan, Rest of Asia-Pacific
• South America: Brazil, Argentina, Rest of South America
• Middle East & Africa: United Arab Emirates, South Africa, Rest of Middle East & Africa

Industry Segmentation Covered (from Scope of Report):

Type: Quartz or Mechanical Watch, Digital Watch

End User: Women, Men, Unisex

Distribution Channel: Online Retail Stores, Offline Retail Stores

Market Players Covered: Rolex SA, The Swatch Group Ltd, Compagnie Financiere Richemont SA, Patek Philippe SA, and Audemars Piguet.

Market Estimates and Report Statistics

Report Attribute	Key Statistics
Study Period	2019-2029
Market Size (2024)	USD 51.31 Billion
Market Size (2029)	USD 68.17 Billion
CAGR (2024 - 2029)	5.84%
Fastest Growing Market	South America
Largest Market	Asia Pacific

By Product Type

Product Type	Market Size Data Available from	CAGR % (2024-2029), Revenue in USD Million
Quartz/ Mechanical Luxury Watches	2019 to 2029	x%
Digital Luxury Watches	2019 to 2029	x%
Total	2019 to 2029	5.84%

By End User

End User	Market Size Data Available from	CAGR % (2024-2029), Revenue in USD Million
Men’s Luxury Watches	2019-2029	x%
Women’s Luxury Watches	2019-2029	x%
Unisex Luxury Watches	2019-2029	6.90%
Total	2019-2029	x%

By Distribution Channel

Distribution Channel	Market Size Data Available from	CAGR % (2024-2029), Revenue in USD Million
Offline Retail Stores	2019-2029	4.13%
Online Retail Stores	2019-2029	x%
Total	2019-2029	x%

Luxury Watch Sales by Region

Region	Study Period	CAGR % (2024-2029), Revenue in USD Million
North America	2019-2029	x%
Europe	2019-2029	x%
Asia Pacific	2019-2029	x%
South America	2019-2029	x%
Middle East & Africa	2019-2029	x%
Total	2019-2029	5.84%

This statistic shows the market share of the leading Swiss watch companies worldwide in 2022. In 2022, Rolex had the largest share of the luxury watch market, with a 30.9 percent share of the global market. Swatch was the second biggest Swiss watch company, holding a 19.8 percent share of the market that year.

Explore the projected growth of the Global Luxury Watch Market from USD 44.2 billion in 2023 to USD 63.2 billion by 2030. Discover key drivers, trends, and market segmentation insights in our comprehensive analysis for 2024-30.

The United States luxury watch market size reached USD 7.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 16.2 Billion by 2033, exhibiting a growth rate (CAGR) of 8.4% during 2025-2033. The rising inclination towards high-end timepieces as symbols of status and achievement among the affluent population, an increasing fascination with mechanical and vintage watches, and the introduction of limited-edition releases and unique collaborations represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 7.8 Billion
Market Forecast in 2033	USD 16.2 Billion
Market Growth Rate (2025-2033)	8.4%

IMARC Group provides an analysis of the key trends in each segment of the United States luxury watch market report, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type, end user, and distribution channel.

Comparing the ten selected regions regarding the revenue in the 'Luxury Watches' segment of the luxury goods market, the United States is leading the ranking (12.6 billion U.S. dollars) and is followed by China with 12 billion U.S. dollars. At the other end of the spectrum is Singapore with 1.4 billion U.S. dollars, indicating a difference of 11.3 billion U.S. dollars to the United States. Find more statistics on other topics: a comparison of countries or regions regarding the revenue and a comparison of the revenue in Thailand. The Statista Market Insights cover a broad range of additional markets.

The luxury watch market size was valued at USD 46.05 billion in 2024 and is set to exceed USD 87.92 billion by 2037, expanding at over 5.1% CAGR during the forecast period i.e., between 2025-2037. North America industry is poised to dominate majority revenue share by 2037, owing to presence of major companies in the region, coupled with high per capita income and expanding status of upper middle class.

This statistic illustrates the market size of high-end watches in China from 2014 to 2018. In 2018, China's premium watch market size amounted to approximately 19.4 billion yuan, an increase from around 16 billion yuan in the previous year.

Explore the Luxury Watch Market trends! Covers key players, growth rate 6.3% CAGR, market size $42.39 Billion, and forecasts to 2034. Get insights now!

By Distribution Channel:The market is divided into offline retail stores and online retail channels. Offline retail stores, such as boutique shops and luxury brand flagship stores, dominate the market share. Consumers prefer these physical locations as they offer the opportunity to see, feel, and try on the watches, which is crucial for high-value purchases. Additionally, the personalized shopping experience, expert consultation, and exclusive event invitations provided by these stores further drive consumer preference. By Product Type:The market is segmented by product type into mechanical watches and electronic watches. Mechanical watches hold a dominant market share due to their association with heritage, craftsmanship, and exclusivity. Brands like Rolex and Patek Philippe focus heavily on mechanical timepieces, which are favored by collectors and enthusiasts. The intricate design, hand-assembled components, and limited-edition models make mechanical watches highly desirable as status symbols and investments. USA Luxury Watch Market Segmentation The U.S. government has stepped up efforts to combat counterfeit luxury goods, including watches, through initiatives led by Customs and Border Protection (CBP). In 2024, CBP increased seizures of counterfeit luxury watches, which represented a total value of $450 million. These government actions have supported the integrity of the luxury watch market by protecting brands and consumers from fraudulent products, ensuring continued consumer trust in authentic luxury timepieces.

The Vietnam luxury watch market size is projected to exhibit a growth rate (CAGR) of 2.90% during 2024-2032. The rich heritage and tradition offered by this product, impeccable craftsmanship and quality, exclusivity and rarity of luxury watches, the tendency of appreciation in value over time in the product, significant technological advancements, personalization and customization, and effective marketing and branding represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2023
Forecast Years	2024-2032
Historical Years	2018-2023
Market Growth Rate (2024-2032)	2.90%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, end user, and distribution channel.

TheUSA luxury watch marketis valued atUSD 4.1 billion, backed by strong demand from affluent consumers seeking luxury, craftsmanship, and status symbols. This market is primarily driven by consumer preferences for high-end goods, fueled by the cultural significance of luxury watches as symbols of personal achievement and refinement.

The luxury watch market, valued at $37.17 billion in 2025, is projected to experience steady growth, with a compound annual growth rate (CAGR) of 2.08% from 2025 to 2033. This growth is driven by several factors. Increasing disposable incomes in emerging economies, particularly in Asia-Pacific, fuel demand for high-end timepieces as status symbols and investments. The enduring appeal of craftsmanship and heritage associated with luxury brands, coupled with innovative designs and technological advancements in watchmaking, also contribute to market expansion. Furthermore, a growing preference for personalized and bespoke luxury experiences, including customized watch designs and exclusive brand events, enhances consumer engagement and drives sales. However, the market faces challenges, including economic downturns that can impact discretionary spending on luxury goods and the increasing popularity of smartwatches, which offer functionality often exceeding that of traditional luxury watches. The market is segmented by type (mechanical, quartz, smartwatches within luxury segment) and application (men's, women's, unisex). Competition is fierce, with established luxury brands like Rolex, Patek Philippe, and Cartier maintaining market dominance through strong brand recognition, exclusive distribution channels, and loyal customer bases. New entrants and smaller brands focus on niche markets, innovative designs, and direct-to-consumer strategies to compete effectively. The geographical distribution of the luxury watch market reflects established wealth patterns. North America and Europe remain significant markets, with a mature consumer base and high purchasing power. However, the Asia-Pacific region, especially China and India, is exhibiting robust growth potential, fueled by a rising middle class and a growing appreciation for luxury goods. The Middle East and Africa also show promising growth prospects, although market penetration remains relatively lower compared to other regions. The ongoing expansion into new markets and the evolving preferences of the younger generation of luxury consumers will continue to shape the competitive landscape of the luxury watch market. Brands are adapting their strategies to engage digitally savvy consumers through online platforms, social media marketing, and personalized customer experiences.

In 2024, the luxury watches market was valued at around 51 billion euros. This was significantly more than the value of the luxury jewelry market that year, which amounted to 31 billion euros worldwide.

The revenue of the worldwide the second-hand luxury watches market was estimated to be worth approximately 2.7 million U.S. dollars in 2023. According to Statista estimates, this market is set to see a steep increase, reaching over 3.7 billion U.S. dollars by 2028.

The Report Offers Global Watch Market Segmentation & Share by Brand and is Segmented by Product Type (quartz Watch and Digital Watch), End User (women, Men, and Unisex), Price Range (low Range, Mid-Range, and Luxury), Distribution Channel (offline Retail Stores and Online Retail Stores), and Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). The Report Offers Market Size and Values in (USD) During the Forecasted Years for the Above Segments.

By Product Type:The market is segmented by product type into mechanical watches and electronic watches. Mechanical watches hold a dominant market share due to their association with heritage, craftsmanship, and exclusivity. Brands like Rolex and Patek Philippe focus heavily on mechanical timepieces, which are favored by collectors and enthusiasts. The intricate design, hand-assembled components, and limited-edition models make mechanical watches highly desirable as status symbols and investments. USA Luxury Watch Market Segmentation The U.S. government has stepped up efforts to combat counterfeit luxury goods, including watches, through initiatives led by Customs and Border Protection (CBP). In 2024, CBP increased seizures of counterfeit luxury watches, which represented a total value of $450 million. These government actions have supported the integrity of the luxury watch market by protecting brands and consumers from fraudulent products, ensuring continued consumer trust in authentic luxury timepieces.

The size and share of the market is categorized based on Application (Online Store, Supermarket, Direct Sale) and Product (Low Grade, Middle Grade, High Grade) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The Pre-owned Luxury Watches Market size was valued at USD 26.52 billion in 2023 and is projected to reach USD 49.11 billion by 2032, exhibiting a CAGR of 9.2 % during the forecasts period. This surge can be attributed to factors such as the rising demand for sustainable fashion, the increasing popularity of online marketplaces, the growing affluence in emerging markets, and the expanding middle class with a taste for luxury goods. In the field of horology, pre-owned luxury watches have a very special mystique, encapsulating both artistry and past events. Every one of them has its own story to tell that it wears on its face having gone through years but still possesses an inherent grace. These watches are symbolic of brand heritage given their iconic Rolex Submariners as well as intricate Patek Philippe complications which make them trendy and worth talking about. For collectors, acquiring a pre-owned luxury watch isn't just about ownership; it's a pursuit of passion and a connection to heritage. This thrill is enhanced when hunting for such exclusive pieces like limited editions or rare models while there is more allure in owning something worn by someone else before you. Moreover, used pre-owned watches are a portal into classics that can be achieved at much less than going for a new one. By carefully selecting and certifying them, enthusiasts would find authentic horological classics abundant in character and appeal peculiar to each individual watch from this plethora.

Electronic watches harness advanced technologies to deliver multifaceted functionalities, including fitness tracking, notification alerts, and payment capabilities. They cater to consumers seeking an amalgamation of style and technological prowess.Mechanical watches, revered for their intricate artistry and timeless designs, maintain a substantial market share. These timepieces are cherished by collectors and enthusiasts who appreciate their traditional charm and meticulous engineering. Recent developments include: December 2022: Bucherer, a renowned luxury goods maker, acquired Klarlund, a renowned Danish watch and jewelry retailer. The company claims that this acquisition will help Klarlund establish itself as one of the leading companies for watch enthusiasts in Denmark., October 2022: In the next three years, the luxury watch retailer Ethos Limited wants to build 30-35 new locations in India. Due to the rising demand for luxury watches in the nation, the business wants to grow its retail network.. Key drivers for this market are: Rising disposable income and increasing urban population

Growing consumer demand for sophisticated and unique timepieces. Potential restraints include: Counterfeit and unauthorized distribution of luxury watches

Changing consumer preferences and the rise of alternative luxury products. Notable trends are: Sustainability and the use of eco-friendly materials

Digitalization and the growth of online marketplaces.