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

By Product Type

By End User

By Distribution Channel

Luxury Watch Sales by Region

According to Cognitive Market Research, The global Luxury Watches market size will be USD 43.6 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 5.50% from 2023 to 2030.

The demand for Luxury Watches is increasing the number of affluent individuals globally. 
Demand for High-Quality, Luxurious Watches in the Luxury Watches market.
The Mechanical Quartz and online sales category held the highest Luxury Watches market revenue share in 2023.
Asia Pacific will continue to lead, whereas the European luxury Watches market will experience the most substantial growth until 2030. 

Increase in Demand for High-Quality, Luxurious Watches to Provide Viable Market Output

The global luxury watches market is thriving due to an escalating demand for high-quality and opulent timepieces. Consumers' growing appreciation for craftsmanship, precision, and brand exclusivity is fueling the market's robust expansion. Luxury watches are increasingly regarded as status symbols, contributing to their desirability. As a result, renowned watchmakers are focusing on creating exceptional designs and incorporating innovative features to meet the evolving expectations of discerning buyers. This surge in demand for luxurious watches presents a lucrative market landscape, attracting both established brands and emerging players eager to cater to the growing appetite for sophisticated timepieces among consumers globally.

For instance, in November 2020, Alibaba, Richemont, and Farfetch announced a strategic partnership to accelerate the digitization of the global luxury industry and give luxury brands better access to the Chinese market.

(Source:www.gjepc.org/news_detail.php?news=farfetch-alibaba-richemont-tie-up-to-expedite-digitisation-of-luxury-industry)

Growing Affluent Consumer Base to Propel Market Growth

The luxury watches market is poised for growth, driven by an expanding affluent consumer base worldwide. As global economies prosper, consumers with higher disposable incomes increasingly view luxury watches as prestigious accessories. The market benefits from this elevated demand as luxury timepieces become symbols of status and sophistication. Renowned brands are capitalizing on this trend by offering exclusive designs and innovative features. The growing affinity for luxury watches among the affluent consumer segment positions the market for sustained expansion, with manufacturers focusing on meeting the evolving preferences of discerning buyers seeking both craftsmanship and a statement of luxury.

For instance, in June 2020, Spanish fragrance and fashion firm Puig acquired a majority stake in London-based Charlotte Tilbury Beauty Ltd. to expand its existing portfolio of fashion, beauty, and fragrance businesses.

(Source:www.globallegalpost.com/news/puig-buys-majority-stake-in-charlotte-tilbury-in-billion-dollar-deal-1569670469)

Market Dynamics of Luxury Watches

Targeting only the wealthy section of the Population to Restrict Market Growth

Targeting only the wealthy segment may limit the potential growth of the luxury watches market. Exclusive pricing strategies may hinder market expansion by alienating a broader consumer base. Diversifying marketing approaches to appeal to aspirational and middle-income consumers, introducing more accessible collections, or implementing strategic partnerships could broaden the market reach. Emphasizing the craftsmanship, heritage, and unique features of luxury watches can create perceived value, fostering interest beyond the affluent demographic. A balanced marketing strategy that combines exclusivity with inclusivity may unlock untapped market potential and foster sustained growth in the luxury watches segment.

Impact of COVID–19 on the Luxury Watches Market

The global luxury watches market experienced a notable impact from COVID-19, with disruptions in production, supply chain challenges, and reduced consumer spending on non-essential items. Temporary store closures and a shift towards online sales characterized the industry during the pandemic. However, as economic conditions stabilize and consumer confidence returns, the luxury watches market is rebounding. Brands are adapting with digital strategies and emphasizing exclusivity and craftsmanship, driving recovery. The pandemic reshaped consumer behavior, accelerating e-commerce trends and emphasizing the importance of brand resili...

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

In 2024, the United States ranked first by revenue in the 'Luxury Watches' segment of the luxury goods market among the 10 countries presented in the ranking. United States' revenue amounted to ************* U.S. dollars, while China and Japan, the second and third countries, had records amounting to ************ U.S. dollars and ************ U.S. dollars, respectively.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Luxury Watches.

Pre-Owned Luxury Watch Market size is expected to be worth around USD 63.7 Billion by 2034, from USD 24.9 Billion in 2024, at a CAGR of 9.9%

This dataset is prepared for statistical factor pricing models and standardized across variables including country, region, currency, vendor, and manufacturer for seamless data filtering. It contains 20+ years of all items in the luxury watch category sold at auction and in private markets. Brands include: A. Lange & Söhne, Audemars Piguet, Blancpain, Breguet, Breitling, Bremont, Bulgari, Cartier, Chopard, F.P. Journe, Hublot, IWC, Jaeger-LeCoultre, Omega, Panerai, Patek Philippe, Piaget, Richard Mille, Rolex, Seiko, TAG Heuer, Tudor, Ulysse Nardin, Vacheron Constantin, Zenith. Vendors include: Christie's, Sotheby's, Phillips, Bonhams

The revenue in the 'Luxury Watches & Jewelry' segment of the luxury goods market worldwide was modeled to amount to ************** U.S. dollars in 2024. Between 2018 and 2024, the revenue rose by ************* U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The revenue will steadily rise by ************* U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Luxury Watches & Jewelry.

The Pre-owned Luxury Watches Market will grow from USD 27.84 Billion in 2025 to USD 47.87 Billion by 2031 at a 9.45% CAGR.

Luxury Watches Market Outlook

According to our latest research, the global luxury watches market size reached USD 47.2 billion in 2024, reflecting robust consumer demand and resilient brand equity across key markets. The industry is expected to expand at a CAGR of 5.7% during the forecast period, with the market projected to attain a value of USD 77.2 billion by 2033. This growth is primarily driven by increasing disposable incomes, evolving consumer preferences towards luxury and status-driven products, and the continued expansion of the affluent population worldwide. As per our comprehensive analysis, the luxury watches market is benefitting from a blend of heritage craftsmanship and innovation, positioning it for sustained growth over the next decade.

One of the core growth factors propelling the luxury watches market is the enduring appeal of mechanical and artisanal timepieces, which continue to symbolize prestige, tradition, and sophistication. Consumers, particularly in emerging economies, are exhibiting a heightened appreciation for luxury goods that offer exclusivity and heritage value. The resurgence of interest in mechanical watches, often handcrafted and limited in production, is fueling demand among collectors and enthusiasts. Furthermore, the proliferation of digital media and social platforms has amplified brand storytelling, allowing luxury watchmakers to reach new audiences and cultivate aspirational brand images. This blend of tradition and modern outreach is ensuring that luxury watches remain coveted symbols of status and achievement.

Another significant driver is the increasing penetration of e-commerce and digital retail channels, which are transforming the way luxury watches are marketed and sold. Online platforms are enabling brands to extend their global reach, provide immersive shopping experiences, and offer personalized services that cater to the discerning tastes of luxury consumers. The integration of augmented reality and virtual try-on technologies is further enhancing consumer engagement and reducing purchase hesitancy. Moreover, the rise of millennial and Gen Z consumers, who are more digitally savvy and value transparency, is prompting brands to innovate in their digital strategies while maintaining exclusivity and authenticity. This digital transformation is not only expanding the addressable market but also fostering deeper brand-consumer relationships.

Sustainability and ethical sourcing have emerged as pivotal factors influencing purchasing decisions in the luxury watches market. TodayÂ’s consumers are increasingly conscious of the environmental and social impact of their luxury purchases, prompting brands to adopt responsible sourcing of materials such as gold, platinum, and diamonds. Initiatives like traceable supply chains, recycled metals, and eco-friendly packaging are gaining traction, with brands leveraging these practices as unique selling propositions. The alignment of sustainability with luxury values is enabling watchmakers to attract environmentally aware consumers without compromising on quality or exclusivity. As regulatory frameworks evolve and consumer expectations rise, sustainability will continue to shape product development and marketing strategies within the luxury watches sector.

As the luxury watch market continues to evolve, the importance of Luxury Timepiece Authentication has become increasingly significant. With the rise of counterfeit products and the growing demand for pre-owned luxury watches, ensuring the authenticity of a timepiece is crucial for both buyers and sellers. Authentication services provide peace of mind by verifying the provenance, condition, and originality of a watch, thereby protecting consumers from fraudulent transactions. This process not only enhances consumer trust but also preserves the integrity and value of luxury brands. As digital platforms expand, integrating robust authentication measures will be essential in maintaining consumer confidence and fostering a secure marketplace for luxury timepieces.

From a regional perspective, the Asia Pacific region stands out as the fastest-growing market for luxury watches, driven by rising affluence, urbanization, and a burgeoning middle class in countries like China and India. Europe, with its rich watchmaking heritage, remains a dominant market, especially in Sw

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

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.

According to Statista estimates, shared luxury watch market in the United States constituted approximately **** percent of the traditional luxury watches market in 2020. Share of this market over traditional market is forecast to increase continuously in the next five years, reaching to about **** percent in 2025.

Luxury Watch Market size is expected to be worth around USD 80.3 Billion by 2033 from USD 46.1 Billion in 2023, growing at a CAGR of 5.7%

According to Statista estimates, the market for shared luxury watches in France constituted approximately **** percent of the luxury watches market in 2020. Share of this market over traditional market is forecast to increase continuously in the next five years, reaching to about *** percent in 2025.

North America Pre owned Luxury Watches market size is $9,286.98 Million in 2024 and it is forecasted to reach $16,194.72 Million by 2031.

The pre-owned luxury watch market is experiencing a significant surge, transitioning from a niche collector's hobby into a major segment of the luxury goods industry. This growth is fueled by a confluence of factors including the increasing perception of luxury timepieces as a viable alternative asset class, offering strong value retention and appreciation. The rise of trusted online platforms has enhanced market accessibility and transparency, building consumer confidence. Furthermore, a growing consciousness around sustainability and the circular economy is attracting a younger demographic, who value the heritage and reduced environmental impact of pre-owned goods. This digital transformation, coupled with a shift in consumer mindset, is set to drive robust expansion in the coming decade, solidifying the market's mainstream appeal.

Key strategic insights from our comprehensive analysis reveal:

The explosive growth of specialized online marketplaces and digital platforms is fundamentally reshaping the market, democratizing access and increasing price transparency for consumers globally.
Major luxury watch brands are increasingly entering the secondary market through Certified Pre-Owned (CPO) programs, aiming to control their brand equity, enhance customer trust, and capture a larger share of the value chain.
Blockchain technology is emerging as a critical tool for authentication and provenance tracking, addressing the persistent challenge of counterfeit products and building a new layer of security and trust for high-value transactions.

Global Market Overview & Dynamics of Pre owned Luxury Watches Market Analysis

The global pre-owned luxury watch market is undergoing a period of unprecedented growth, driven by a paradigm shift in consumer behavior and technological advancements. Once confined to auction houses and specialized dealers, the market is now a highly dynamic and accessible ecosystem, thanks to the proliferation of online platforms. Consumers are increasingly drawn to the secondary market for its access to discontinued models, value proposition, and alignment with sustainability principles. This digital-first approach has broadened the consumer base to include younger, digitally-savvy individuals who view these timepieces not just as status symbols but as sound financial investments. This robust demand is propelling the market towards significant expansion.

Global Pre owned Luxury Watches Market Drivers

Investment and Asset Appreciation: A growing number of consumers and investors view pre-owned luxury watches from brands like Rolex, Patek Philippe, and Audemars Piguet as a tangible asset class that often appreciates in value, outperforming traditional investments and acting as a hedge against inflation.
Increased Accessibility Through Digital Platforms: The rise of trusted online marketplaces such as Chrono24, WatchBox, and Hodinkee has significantly lowered the barrier to entry, providing a secure and transparent environment for buying and selling, complete with authentication services and global reach.
Growing Focus on Sustainability: The global shift towards a circular economy and sustainable consumption has boosted the appeal of pre-owned goods. Purchasing a second-hand luxury watch is seen as an environmentally responsible choice, particularly among Millennial and Gen Z consumers.

Global Pre owned Luxury Watches Market Trends

Official Brand-Certified Pre-Owned (CPO) Programs: Leading watch manufacturers are launching their own CPO programs to control product quality, authenticate timepieces, and maintain brand prestige, thereby building consumer confidence and capturing revenue from the secondary market.
Integration of Blockchain and AI for Authentication: Technology is playing a crucial role in building trust. Blockchain is being used to create immutable digital ledgers of a watch's history and ownership, while AI algorithms are being developed to analyze market data for more accurate pricing and to detect counterfeits.
Surge in Demand for Neo-Vintage Models: There is a rising trend in collecting watches from the 1980s to the early 2000s. These neo-vintage pieces offer a unique blend of classic aesthetics with modern reliability and are becoming highly sought after by enthusiasts.

Global Pre owned Luxury Watches Market Restraints

Prevalence of Counterfeit Products: The market is plagued by sophisticated fakes and Frankenwatc...

Discover the latest trends in the $37.17 billion luxury watch market. This comprehensive analysis reveals a steady growth trajectory (CAGR 2.08%), driven by emerging markets and brand innovation. Explore regional market shares, leading brands, and future projections (2025-2033).

The global luxury watch market size was estimated at USD 47.91 billion in 2025 and is anticipated to grow from USD 51.05 billion in 2026 till USD 87.11 billion by 2034, growing at a CAGR of 6.9% from 2026-2034.
Report Scope:

The high-end watch market, valued at $37.37 billion in 2025, is poised for significant growth. While the provided CAGR is missing, considering the luxury goods sector's resilience and consistent demand, a conservative estimate of 5-7% annual growth seems plausible. This would translate to a market size exceeding $50 billion by 2033. Key drivers include increasing disposable incomes in emerging markets, a growing preference for luxury goods as status symbols, and the enduring appeal of handcrafted, prestigious timepieces. Strong brand loyalty among established players like Rolex and Patek Philippe, coupled with the rising popularity of independent watchmakers, contributes to market dynamism. However, economic downturns, fluctuations in precious metal prices, and the increasing popularity of smartwatches present challenges to sustained growth. Segmentation reveals a strong demand for watches priced above $5,000, with the men's segment currently dominating. Geographical analysis points to North America and Europe as major markets, though Asia-Pacific displays considerable growth potential fueled by burgeoning middle classes in countries like China and India. The market's segmentation by price point and gender offers valuable insights for strategic planning. The high-end segment (>$5,000) holds the most significant share and presents opportunities for brands to leverage premium pricing and exclusive marketing strategies. The continued dominance of the men's segment underscores the need for brands to cater to male consumers, yet the growing female market presents an attractive avenue for expansion. Regional strategies need to adapt to specific market dynamics; North America and Europe benefit from well-established distribution networks and brand recognition, while focusing on brand awareness and building consumer trust is crucial for success in Asia-Pacific. The competitive landscape is intensely brand-driven, emphasizing the importance of maintaining brand heritage, innovative product development, and targeted marketing campaigns. Successful players need to navigate the balance between preserving their brand's prestige and adapting to evolving consumer preferences and technological advancements in the watchmaking industry.