Luxury Watch Market Size & Outlook, 2026-2034

Luxury Watch Market Overview

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.

The global luxury watch market growth is attributed to rising global wealth, especially among HNWIs, which continues to expand the addressable base for high-end timepieces, while watches’ status as collectable, value-retaining assets supports steady demand in both primary and certified pre-owned (CPO) channels.

According to the Federation of the Swiss Watch Industry (FHS), in 2024, Swiss watch exports, the benchmark for global mechanical watchmaking, reached CHF 25.9 billion, reflecting stable growth across key regions. Initiatives like traceability programs, CPO rollouts, and brand-controlled platforms are helping sustain market growth.

Key Market Indicators

• Europe held a dominant share of the global market with a market share of 41% in 2025, owing to dense manufacturing (Switzerland), tourism retail hubs, and rigorous quality and heritage standards.
• The Asia Pacific region is growing at the fastest pace, with a CAGR of 7.1% in 2025.
• Based on price tier, the core luxury segment dominates the market with a CAGR of 6.3% in 2025.
• Based on the distribution channel, authorised multi-brand retailers held a market share of 42% in 2025.
• China continues to be the single largest market for luxury watches.

Market Size & Forecast

• 2025 Market Size: USD 47.91 billion
• 2034 Projected Market Size: USD 87.11 billion
• CAGR (2026-2034): 6.9%
• Dominating Region: Europe
• Fastest-Growing Region: Asia Pacific

Emerging Market Trends

Women’s and Gender-Neutral Mechanical Watches Rise

The rising focus on women’s and gender-neutral timepieces, particularly within the mechanical segment, is a significant trend shaping the luxury watch market. Traditionally, luxury mechanical watches were marketed predominantly to men, but brands are investing in downsized automatic movements and complication miniaturisation to appeal to female clientele.

• For instance, in June 2025, Omega launched its 30 mm Aqua Terra collection featuring new mechanical movements, alongside female-focused marketing campaigns.

Industry experts anticipate that women will account for a larger share of mechanical buyers over the coming years, driven by a blend of empowerment, personal expression, and appetite for technical mastery.

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Luxury Watch Market Market Drivers

Rising Affluence and Hnwi Growth

Rising affluence, particularly among High Net Worth Individuals (HNWIs), directly fuels demand for haute horlogerie and high complications.

• According to Capgemini’s World Wealth Report 2024, HNWI wealth grew by 4.7% in 2023 to reach a record US$86.8 trillion, with the global population of wealthy individuals climbing 5.1% to 22.8 million.

This concentration of wealth has supported luxury brands’ strategies of scarcity and premium pricing, where limited production creates exclusivity and justifies higher margins. For instance, Patek Philippe’s Grand Complications or Audemars Piguet’s Royal Oak Offshore limited editions are often oversubscribed, reinforcing their brand equity.

Luxury as Investment Or Collectable

Luxury watches are increasingly perceived as investment-grade assets. This shift has accelerated the growth of the Certified Pre-Owned (CPO) market.

• For example, a Bain & Company study highlighted that one in five luxury consumers considers timepieces as investment pieces, a sentiment amplified by the growth of online resale platforms.

Platforms such as Chrono24 and WatchBox have improved transparency and liquidity, while brand-backed initiatives like Rolex Certified Pre-Owned (CPO) programs via Bucherer authorised dealers reassure buyers about authenticity and warranty. This “store-of-value” perception encourages both first-time buyers and seasoned collectors, sustaining trade-ins and upgrade cycles.

Market Restraint

Economic Slowdown, Currency and Trade Frictions

The luxury watch market is facing challenges like economic slowdown and trade restrictions. A strong Swiss franc compresses translated revenues for exporters, even when unit sales remain stable. For example, the Federation of the Swiss Watch Industry (FH) reported that while export values grew in 2024, volumes were under pressure in some price segments.

Furthermore, in 2025, the U.S. introduced new tariffs on Swiss watches, complicating pricing structures and squeezing retail margins in the world’s second-largest luxury market. Earnings reports from groups like Richemont and Swatch Group have shown that while jewellery divisions helped buoy overall revenues, watch segments experienced cyclical softness, underscoring the category’s sensitivity to economic downturns and currency volatility.

Key Market Opportunities

Certified Pre-Owned (cpo) Scale-Up

The CPO market has evolved from a niche to a strategic growth driver, offering both higher margins and closer client engagement.

• For instance, Richemont’s Watchfinder has expanded its model by introducing manufacturer-certified programs, including Vacheron Constantin in FY25, and investing in new EU and U.S. service hubs to speed up turnaround times.

This formalisation of resale transforms the CPO channel into a durable growth engine, extending product lifecycles, reinforcing brand equity, and broadening customer access.

Regional Analysis

Europe dominates the global luxury watch market, holding a revenue share of 41% in 2025. This growth is attributed to regional manufacturing, tourism-driven demand, and collector culture. Switzerland anchors global production, with Geneva and the Jura valley synonymous with craftsmanship and heritage. A resilient collector base across France, Germany, and the UK continues to drive stable demand, especially in core and upper luxury segments. The continent also benefits from intra-European tourism flows, with duty-free purchases in cities and airports sustaining value. Europe remains both a supply and demand centre as it produces the bulk of global value while also housing one of the world’s most loyal consumer bases.

The UK remains one of Europe’s strongest luxury watch markets, with London acting as a global retail hub. Bond Street and Harrods serve as flagships for global watch brands, while auction houses in London handle a high volume of vintage and rare references. UK consumers show a strong appetite for both heritage pieces and contemporary steel models, making the country a balanced market between collectors and lifestyle buyers.

Germany is characterised by an engineering-oriented watch culture. While Swiss brands dominate, German marques such as A. Lange & Söhne enjoy global prestige, anchoring the country’s identity as a producer of fine horology. Domestic demand is strong, particularly for understated, precision-driven designs, but Germany also plays an outsized role in global distribution through luxury retailers and trade fairs. Collectors in Germany tend to value mechanical excellence over flamboyance, which sustains strong interest in both Swiss and German haute horlogerie.

Asia Pacific Luxury Watch Market Trends

Asia Pacific is the fastest growing luxury watch market, growing at a CAGR of 7.1% in 2025. Rising middle- and high-net-worth individuals, combined with a cultural emphasis on gifting and status signalling, make luxury watches a prized asset. China’s domestic luxury market continues to expand, especially with Hainan’s duty-free hub and tightened restrictions on luxury spending abroad, which redirect demand to local channels. Japan remains a mature but steady market, deeply rooted in appreciation for craftsmanship and often serving as a secondary hub for vintage and pre-owned trading. Overall, the Asia-Pacific is driven by urbanisation, digital engagement, and brand localisation strategies tailored to young luxury consumers.

China continues to be the single largest market for luxury watches, driven by a combination of status signalling, cultural gifting traditions, and rapid wealth creation. Tier-one cities like Beijing, Shanghai, and Shenzhen are saturated with flagship boutiques, while Hainan’s duty-free zone is a critical driver of domestic luxury spending. Stricter regulations on overseas luxury shopping have redirected demand to domestic channels, further strengthening the local market. Young consumers in China show strong interest in mechanical watches as both investments and fashion statements, making them a key audience for brand storytelling.

India has emerged as one of the fastest-growing luxury watch markets. Rising incomes, an expanding middle class, and increasing exposure to global luxury trends have driven demand for aspirational purchases in the Core and Upper Luxury segments. Watch gifting remains strong during weddings and festivals, while younger professionals are increasingly drawn to entry-luxury sports models. Distribution expansion is underway, with brands opening boutiques in Mumbai, Delhi, and Bangalore, supported by online platforms offering verified pre-owned options.

U.s Luxury Watch Market Trends

The U.S is the largest luxury watch market, commanding a powerful blend of retail dominance and cultural influence. New York, Miami, and Los Angeles host flagship boutiques and multi-brand luxury retailers, while U.S. auction houses frequently set global records for vintage Rolex and Patek Philippe. The demand is fueled by lifestyle-driven purchases with celebrities, athletes, and influencers consistently boosting watch visibility. The U.S. also leads in professionalising e-commerce and certified pre-owned platforms, giving consumers trust in online luxury transactions.

Market Segmentation

Movement Insights

Automatic mechanical watches dominate the market with a revenue share of 58% in 2025. The growth is attributed to their fine craftsmanship, engineering artistry, and cultural significance. Collectors are drawn to hand-finished bridges, proprietary calibres, and the aura of scarcity that accompanies limited production runs. These qualities not only anchor premium pricing but also sustain long-term resale value, positioning mechanical watches as heritage assets rather than disposable goods. Additionally, auction culture celebrates mechanical mastery, supporting the segment’s growth.

Price Tier Insights

Core luxury segment dominates the market with a CAGR of 6.3% in 2025. The growth is attributed to the expanding population of HNWIs and affluent millennials, who are increasingly willing to invest in “daily wear” icons such as steel sports models or signature dress references. These price bands strike a balance between prestige and accessibility, offering timepieces that serve as both functional accessories and personal milestones for buyers. This range is positioned as the sweet spot, balancing affordability with aspiration and driving consistent replacement and upgrade activity.

Case Material Insights

Stainless steel dominates the market with a revenue share of 68% in 2025. The growth is attributed to its durable and versatile material, effortlessly aligned with the sporty, everyday aesthetic that modern luxury buyers crave. Additionally, factors like consumer preference for robust daily wear, manufacturing efficiency that allows brands to offer a wide product variety in steel, and collector interest in limited editions of steel help the segment dominate.

Gender Insights

Men dominate the market with a CAGR of 6.1% in 2025. The growth is attributed to sustained demand for large-format sports models, complicated references, and corporate gifting practices. Heavyweights like Rolex Submariners or Audemars Piguet Royal Oaks define collector culture, further cementing the segment’s growth.

Distribution Channel Insights

Authorised multi-brand retailers dominate the market with a revenue share of 42% in 2025. The growth is attributed to the tactile experiences and guaranteed provenance to buyers offered by these retailers. Additionally, the expansion of in-store trade-in and CPO services that encourage upgrade cycles, the rise of experiential retail, client events, on-site servicing, and even brand exhibitions that build loyalty further support the segment’s growth.

Competitive Landscape

The global luxury watch market is moderately consolidated with a blend of independent maisons (Rolex, Patek, Audemars Piguet, Richard Mille), large luxury groups (Richemont, LVMH, Swatch Group), and heritage manufacturers (Seiko, Citizen, Chopard). There is control of distribution (mono-brand boutiques and authorised networks), scarcity and limited editions to preserve pricing, expansion of manufacturer-backed CPO channels, and heavy investment in marketing (events, sports sponsorships) and product innovation.

Rolex SA: A dominating player

Rolex is a global player in the luxury watch market that maintains growth through product scarcity, controlled distribution, and continuous investment in in-house manufacturing and new model introductions. Product launches drive showroom traffic and secondary market chatter, new lines and dial variants are immediate demand catalysts and keep the brand’s product pipeline fresh without changing its scarcity strategy.

Latest News:

• In April 2025, Rolex unveiled a set of new releases, notably the Land-Dweller and refreshed dials for Oyster Perpetual Cosmograph Daytona, GMT-Master II and Sky-Dweller. The Land-Dweller introduces a new sporty family with integrated design cues and new materials and finishes.

List of key players in Luxury Watch Market

1. Rolex SA
2. Patek Philippe SA
3. Richemont Group
4. Audemars Piguet
5. The Swatch Group Ltd.
6. LVMH Watch Division
7. Richard Mille
8. Citizen Watch Co.
9. Seiko Group Corporation
10. Chopard
11. Breitling SA
12. Franck Muller Group
13. Moser & Cie.

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Recent Developments

• January 2025- LVMH/TAG Heuer announced a major strategic pact to become an official timekeeper and launch F1-themed collections and elevated marketing.
• In February 2025, Tissot introduced the "Supersport NBA Special Edition" as the 2025 Official Watch of the NBA. The timepiece features a 45.5 mm stainless steel case, lugs, crown, and two chronograph pushers.