Luxury Watches Market Size (2025 – 2030)

The Luxury Watches Market was valued at USD 54.21 Billion in 2024 and is projected to reach a market size of USD 110.25 Billion by the end of 2030. Over the forecast period of 2025-2030, the market is projected to grow at a CAGR of 12.56%.

Key Market Insights:

The luxury watch industry demonstrates a noticeable gender disparity, with male consumers accounting for 51.58% of the market share. This predominance can be attributed to cultural norms, design aesthetics, and historical associations that have positioned luxury watches as symbols of prestige among men. These timepieces are often viewed as reflections of individual style and markers of achievement, especially within executive circles and collector communities traditionally dominated by men. The market’s emphasis on larger dial sizes and clean, understated designs further aligns with male preferences, thereby sustaining this demographic's leading position.

In September 2024, Anushka Sharma partnered with Michael Kors to unveil a limited-edition wristwatch, marking the first instance of a female Indian celebrity launching a signature timepiece for commercial sale in India.

Market Drivers:

Diversification of Product Portfolios by Manufacturers Expected to Drive Market Expansion.

Leading manufacturers are strategically expanding their product portfolios to better align with evolving consumer preferences and prevailing fashion trends across various age groups and market segments. This approach is contributing significantly to the growth of the global luxury watch market. For instance, Audemars Piguet, a prestigious watchmaker headquartered in Le Brassus, Switzerland, provides an extensive range of colors, materials, shapes, and sizes, designed to meet the diverse preferences and wrist dimensions of its broad customer base.

Multiple factors are driving this product diversification, including pricing strategies, material selection, design intricacies, case shapes, collection series, craftsmanship quality, limited-edition models, and technological advancements. By thoughtfully integrating these aspects, manufacturers are able to develop tailored offerings that resonate with specific consumer demographics. This targeted strategy not only enhances their competitive positioning but also supports a broader and more inclusive market appeal, positively shaping global luxury watch market dynamics.

Rising Consumer Demand for Luxury Products Anticipated to Support Market Growth

High-income individuals exhibit a strong preference for luxury goods, often perceiving them as essential indicators of social prestige and personal reputation. Ownership of such items functions as a visible representation of status, significantly influencing how individuals are perceived within broader societal circles. This trend extends across diverse demographic groups, as luxury goods increasingly symbolize success, achievement, and distinction.

Market Restraints and Challenges:

Increasing Incidence of Counterfeit Products Projected to Impede Market Growth.

Luxury products, including esteemed brands such as Rolex, Rado, Tissot, and Audemars Piguet, have evolved into prominent symbols of affluence and social prestige. This has led to a growing aspiration among consumers to own these premium items, driven by the desire to project a luxurious lifestyle and enhance social standing. However, the high cost associated with these timepieces renders them inaccessible to a large segment of the global population, resulting in a notable increase in counterfeit alternatives, often categorized as first copy, second copy, and original copy imitations.

The escalating demand for luxury goods creates an opportunity for counterfeiters to infiltrate the market, leveraging consumer interest in prestigious brands and negatively impacting global luxury watch market revenues. Technological progress has significantly contributed to this issue, with advancements in manufacturing techniques, printing technology, and material use enabling counterfeiters to create imitations that closely resemble the appearance—and occasionally the quality—of authentic products. This growing sophistication poses challenges for both consumers and regulatory authorities in identifying counterfeit items, thereby complicating efforts to reduce their presence in the market.

Market Opportunities:

Innovations in Materials and Design Expected to Create Growth Opportunities in the Market.

Innovation in materials and design is a key driver of growth in the luxury watch market, setting new standards for quality, sustainability, and exclusivity. Leading manufacturers are increasingly adopting advanced materials such as titanium, ceramic, carbon fiber, and proprietary alloys that blend the resilience of modern composites with the elegance of precious metals. In line with global sustainability trends, the industry is integrating environmentally conscious practices, including the use of recycled metals, lab-grown gemstones, vegan-friendly straps, and production facilities powered by renewable energy. Circular economy initiatives, such as certified pre-owned programs, are also gaining traction.

Design advancements are enhancing product appeal through broader color palettes, transparent cases, and customizable features that allow consumers to personalize aspects such as dial colors, engravings, and complications. Despite these modern enhancements, traditional artisanal techniques such as guillochage and perlage continue to play a vital role in preserving craftsmanship.

To safeguard these innovations, companies are actively securing intellectual property rights. In August 2024, Rolex was granted a patent for a digital system designed to store and retrieve watch service history. This system utilizes NFC-enabled warranty cards that, when scanned, grant access to an online platform displaying service records and supplementary details. The patent also accommodates alternative data access methods, including QR codes, RFID tags, and barcodes.

LUXURY WATCHES MARKET REPORT COVERAGE:

Luxury Watches ​​​​​​​Market Segmentation:

Luxury Watches ​​​​​​​Market Segmentation By Product:

• Mechanical
• Electronic

The mechanical segment is expected to retain its leading position in the global luxury watch market over the forecast period. These timepieces are often regarded as works of art due to the intricate craftsmanship required in their production. Expert watchmakers and artisans carefully assemble each component by hand, reflecting exceptional precision and dedication to detail. Additionally, many mechanical watch brands possess a deep-rooted legacy, with histories spanning decades or even centuries. This rich heritage appeals to consumers who value tradition, craftsmanship, and exclusivity, further elevating these watches as symbols of prestige and status.

Conversely, the electronic segment is projected to register the highest compound annual growth rate (CAGR) during the forecast period. This growth is largely attributed to rising consumer interest in watches that incorporate advanced materials and cutting-edge technology. Electronic luxury watches leverage the latest developments in material science and engineering, utilizing high-performance alloys, ceramics, and anti-reflective coatings. Furthermore, many of these models are purpose-built for specialized activities such as diving, aviation, and motorsports, featuring functionalities like water resistance, altimeters, tachymeters, and heart rate monitors. The growing global participation in outdoor and adventure activities continues to positively influence demand, contributing to the robust expansion of this segment within the luxury watch market.

Luxury Watches ​​​​​​​Market Segmentation By Band Type:

• Chain-based
• Strap-based

The chain-based segment has established itself as the largest within the market, propelled by its durability and the versatility of raw materials used. Chain-based watches typically feature metal bracelets crafted from stainless steel, precious metals such as gold or platinum, or a blend of these materials.

Meanwhile, the strap-based segment is projected to experience growth over the forecast period. These watches are characterized by straps that contribute to both aesthetic appeal and wearer comfort, as well as functional advantages. Straps are often favored for formal occasions or dress watches due to their sophisticated appearance and ability to complement a variety of dress codes. Furthermore, the ease with which straps can be changed allows users to customize their watches for different styles or events. This adaptability not only enhances versatility but also fosters a personalized experience, driving increased global adoption of strap-based timepieces.

Luxury Watches ​​​​​​​Market Segmentation By Distribution Channel:

• Offline
• Online

The online channel segment is anticipated to experience the fastest growth in the luxury watch market. Consumers increasingly turn to online platforms to purchase premium products, attracted by value-added services such as cash-on-delivery, hassle-free returns, secure transactions, and centralized customer support. Leading brands are leveraging online retail strategies to reduce operational expenses and enhance profitability.

Additionally, the online distribution channel offers manufacturers a convenient avenue to access global markets. Despite this rapid growth, the offline segment continues to dominate the industry in terms of revenue share and is expected to maintain this position throughout the forecast period. The sustained preference for offline purchases is largely driven by consumers’ desire to physically inspect high-end products before buying. Brick-and-mortar stores—including convenience stores, supermarkets, and brand-owned outlets—enable customers to better assess product size, weight, and overall quality, reinforcing the appeal of offline shopping experiences.

Luxury Watches ​​​​​​​Market Segmentation: Regional Analysis:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

The Asia-Pacific region commands a 41.21% share of the global luxury watch market, driven by a growing affluent population and a strong cultural emphasis on luxury goods as symbols of status. Market expansion in this region is fueled by rising disposable incomes and shifting consumer preferences, particularly in key countries such as India, China, and Japan. Global luxury watchmakers are increasingly focusing on these markets to capitalize on their considerable growth potential. China, in particular, leads the regional market owing to its substantial high-net-worth population, which significantly contributes to Asia-Pacific’s dominant market position.

South America is expected to experience notable growth during the forecast period, supported by wealth accumulation, urbanization, and an expanding high-net-worth demographic seeking luxury items as status indicators. The rising adoption of digital platforms and e-commerce further facilitates market access among urban consumers. Mechanical watches are gaining popularity as both investment assets and symbols of prestige, while electronic watches continue to generate the highest revenue. International brands are actively expanding their footprint in the region to tap into evolving consumer preferences and the increasing demand for Swiss and European timepieces.

Europe maintains its longstanding significance in the luxury watch sector, with Switzerland, France, and Italy serving as principal hubs for production and consumption. Although tourism remains a vital driver of sales, fluctuations in global travel impact market stability. North America, led by the United States, represents a mature market characterized by steady demand for heritage mechanical watches alongside luxury smartwatches. There is also growing enthusiasm for independent watchmakers and limited-edition releases within this region. These markets are particularly prominent in the ultra-luxury segment, buoyed by a high concentration of ultra-high-net-worth individuals.

COVID-19 Impact Analysis:

The global supply chain experienced significant disruptions due to the COVID-19 pandemic, adversely impacting production and distribution across multiple industries, including the luxury watch sector. Factory closures, restrictions on movement, and logistical challenges resulted in delays and shortages, limiting the availability of luxury timepieces. Additionally, lockdown measures and the temporary closure of non-essential businesses led to the shutdown of numerous physical retail stores, including brand boutiques and outlets, thereby affecting luxury watch sales and diminishing the overall consumer purchasing experience.

For example, in March 2020, the National Center for Biotechnology Information (NCBI), a U.S.-based government entity under the National Library of Medicine, noted that governmental responses to the COVID-19 pandemic involved widespread business closures and restrictions on social activities, further contributing to these market disruptions.

Latest Trends and Developments:

For example, in February 2025, Rolex strengthened its retail footprint by inaugurating a new 650-square-foot boutique at DLF Emporio in New Delhi, in collaboration with Kapoor Watch Company. This boutique serves as a dedicated showcase for Rolex’s collection in India’s capital, underscoring the brand’s strategic focus on expanding its global presence. Such initiatives reflect the luxury watch industry's commitment to growth while preserving brand exclusivity and market prestige.

Key Players in the Market:

1. Apple Inc.
2. Audemars Piguet Holding S.A.
3. The Swatch Group Ltd
4. Citizen Watch Company of America, Inc.
5. Fossil Group, Inc.
6. Compagnie Financiere Richemont SA
7. Seiko Watch Corporation
8. Movado Group Inc.
9. LVMH Moet Hennessy -Louis Vuitton
10. Ralph Lauren Corp.

Market News:

• March 2025: Citizen expanded its luxury watch portfolio by launching the Citizen Premiere collection, a new product category that integrates advanced design and technology to establish a presence in the contemporary luxury watch segment.
• October 2024: Jacob & Co. collaborated with renowned footballer Cristiano Ronaldo to introduce an exclusive luxury watch collection. The Twin Turbo Furious Baguette, a signature piece from this partnership, was personally presented to Ronaldo.
• August 2024: Ethos inaugurated its new retail outlet, Ethos Summit, located at Phoenix Mall of Asia in Bengaluru. The boutique offers customers a curated selection of luxury timepieces, enhancing the brand’s retail footprint.