Luxury Watch Market

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Luxury Watch Market Overview

The report is titled as ‘Luxury Watch Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Luxury Watch Market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market.

The global luxury watch market is estimated to reach at a value of US$ 50.4 Bn by the end of 2022 and expected to reach at a value of US$ 71.6 Bn by 2030 with a significant CAGR of 4.5%.

Luxury Watch Introduction

There is no prescribed denotation for what is classed a luxury watch. In a general sense, luxury watches are classified as the watches which are primarily manually designed watches of remarkably superior quality along with a premium price. Contrary to quartz watches, mechanical watches are not run by a battery. By contrast, they are mechanized by a manually-operated winding or self-winding (automatic) motion. At any rate, components of the motion are handcrafted and indicate a far greater expenditure in manufacturing than industrially designed quartz watches. Watch manufacturing in Switzerland and Europe paves its way to ineluctable considerably higher costs than for a watch manufactured in Asia.

In addition to that, jewels (diamonds, rubies, and many more) and precious metals (gold, silver, platinum) assure a more precious quality and substantially enhance the value of a luxury watch. Just as importantly, the leading manufacturers of the market also restrict production volumes to establish a paucity on the market, which is a significant factor in attaining the premium price. And thus, extraordinarily well-known and second-hand paragons, which are from now on manufactured in present times, achieve market prices that are considerably above the original purchase price. The growing demand for luxurious products among the population all across the world is primarily projected to drive the market growth over the coming years.

Luxury Watch Market Segmentation

The global luxury watch market is segmented on the basis of type, gender type, distribution channel, and region

By Type

Analogue Watch

Digital Watch

By Gender Type

Men

Women

Unisex

By Distribution Channel

Internet Retailing

Departmental Stores

Specialist Retailers

Exclusive Showrooms

Others

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Luxury Watch Market Key Players

Some of the key participating players in global Luxury Watch market are:

RADO WATCH CO. LTD.

ROLEX SA

Burberry Limited

OMEGA SA

Festina

Ulysse Nardin

LVMH

Richemont

TITAN LTD.

KERING

The Swatch Group Ltd

Fossil Group, Inc.

Seiko Watch Corporation

Apple Inc.

CHANEL International B.V.

Audemars Piguet

Le Brassus

Chopard

PATEK PHILIPPE SA

Breitling

Bulgari S.p.A.,

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Luxury Watch

Advantages of Luxury Watch

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decisions.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.

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