This growth underscores the resilience of the luxury watch industry, bolstered by increasing high-net-worth individuals (HNWIs) and the maturation of certified pre-owned (CPO) channels. "The luxury watch market is evolving beyond mere timekeeping into a realm of collectible assets and personal expression," said a Straits Research analyst. "With Swiss watch exports hitting CHF 25.9 billion in 2024, as reported by the Federation of the Swiss Watch Industry (FHS), the sector's foundation remains strong amid global economic shifts."
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Key Drivers Fueling Luxury Watch Market Growth
The surge in HNWI wealth—reaching a record USD 86.8 trillion in 2023, per Capgemini's World Wealth Report—has expanded the demand for haute horlogerie and high-complication watches. Brands like Patek Philippe and Audemars Piguet leverage scarcity strategies to maintain exclusivity and premium pricing.
Additionally, luxury watches are increasingly viewed as investment-grade items. A Bain & Company study notes that one in five luxury consumers treats timepieces as assets, with platforms like Chrono24 and WatchBox enhancing transparency. Brand-backed CPO programs, such as Rolex's initiative through Bucherer, further build trust and liquidity in the resale market.
Emerging Trends in the Luxury Watch Industry
A notable shift is the rise of women's and gender-neutral mechanical watches. Brands are miniaturizing movements to cater to this demographic, with Omega's June 2025 launch of the 30 mm Aqua Terra collection exemplifying targeted innovation. This trend is expected to capture a larger share of mechanical buyers, blending empowerment, style, and technical appeal.
Other trends include the scale-up of CPO markets, with Richemont's Watchfinder expanding manufacturer-certified programs in the EU and U.S., and a focus on sustainability through traceability initiatives.
Regional Insights: Europe Leads, Asia Pacific Accelerates
Europe commands a 41% market share in 2025, anchored by Switzerland's manufacturing prowess, tourism hubs, and heritage standards. The UK and Germany stand out as key contributors, with London's retail scene and Germany's engineering focus driving demand.
The Asia Pacific region is the fastest-growing, with a 7.1% CAGR in 2025. China remains the largest single market, fueled by duty-free zones like Hainan and gifting traditions. India is emerging rapidly, supported by rising incomes and boutique expansions in major cities.
In the U.S., the second-largest market, celebrity influence and e-commerce advancements propel growth, with cities like New York and Miami serving as global retail epicenters.
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Market Segmentation Highlights
- By Movement: Automatic mechanical watches hold 58% revenue share, prized for craftsmanship and resale value.
- By Price Tier: Core luxury (USD 3,000-7,500) dominates with a 6.3% CAGR, appealing to affluent millennials.
- By Case Material: Stainless steel leads at 68%, favored for durability and versatility.
- By Gender: Men's segment grows at 6.1% CAGR, driven by sports models and corporate gifting.
- By Distribution Channel: Authorized multi-brand retailers capture 42%, offering experiential retail and CPO services.
Competitive Landscape and Recent Developments
The market features a mix of independents like Rolex SA and Patek Philippe SA, alongside groups such as Richemont, LVMH, and The Swatch Group Ltd. Rolex continues to dominate through scarcity and innovation, with its April 2025 releases—including the Land-Dweller and refreshed Daytona dials—sparking demand.
Notable updates include LVMH/TAG Heuer's January 2025 F1 partnership and Tissot's February 2025 NBA Special Edition launch, highlighting sports sponsorships as a growth lever.
Despite challenges like economic slowdowns, currency volatility, and U.S. tariffs on Swiss watches, opportunities in CPO expansion and digital engagement position the industry for sustained momentum.
For a detailed analysis, including charts, statistics, and regional breakdowns, access the full "Luxury Watch Market Size & Forecast" report at Straits Research's portal.
About Straits Research
Straits Research is a leading market intelligence firm providing actionable insights and data-driven reports across various industries. With a focus on emerging trends and strategic opportunities, we empower businesses to make informed decisions in dynamic markets.