Mechanical Watch Market Size

Mechanical Watch Market Size

Mechanical Watch Market size was valued at around USD 59.2 Billion in 2023 and is anticipated to register a CAGR of 5.2% between 2024 to 2032. Driven to several reasons, including rise of disposable income in developed and developing nations, consumer spending on luxury segment boosts the demand in high end mechanical watch. Furthermore, manufacturers are launching the limited-edition model creating a sense of urgency and desirability, further driving the overall mechanical watch sales.

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There are two different types of mechanical watch movements such as automatic and manual movements. Automatic movements are powered by a rotor, also called an oscillating weight or mass, that spins as you move. This motion winds and powers the watch. They are also called self-winding movements. Manual movements are powered as user wind them by turning the crown. Manufacturers are now designing mechanical watch with advanced sealing techniques that further improve design and enhance water resistance.
 

While smartwatches have gained considerable popularity, mechanical watch industry have faced challenges. The primary challenge lies in differentiating products from smartwatches. Traditional watches rely on craftsmanship, precision engineering, and timeless designs to appeal to consumers. Additionally, the rapid pace of technological advancements poses a challenge for traditional watchmakers. This poses a threat to the traditional watch industry, which relies on the appreciation of mechanical movements and the artistry associated with traditional timepieces. Furthermore, water and moisture pose a significant threat to mechanical watches. This is because they can potentially penetrate the case and damage the movement.