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Mechanical Watch Market Trends

Report ID: GMI10399
Published Date: Jul 2024
Report Format: PDF

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Mechanical Watch Market Trends

Vintage-inspired watches are an emerging trend in the mechanical watch industry. These timepieces, with their domed crystals, aged leather straps, and retro-style numerals, represent timeless appeal with a hint of nostalgia. Vintage-inspired timepieces evoke nostalgia while exemplifying current craftsmanship. Watchmakers are adding sustainable materials, such as ocean-bound plastics, into their products. This provides customers with a combination of premium builds, quality, and brand recognition, as well as the optimism connected with sustainable goods. This elevates luxury watches beyond status symbols, allowing for new degrees of self-expression through timepieces.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market 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 by rise of disposable income in developed and developing nations, leading to increased consumer spending on luxury items.

The mechanical watch with stainless steel strap segment held 56% of the total market share in 2023 and is anticipated to record a CAGR of 5.4% through 2032, owing to its strength and durability while having a sleek and classy appearance.

Europe mechanical watch market held a revenue share of around 37% in 2023 and anticipated to record a CAGR of 5.5% through 2032, backed by the increased disposable income allowing customers to invest mechanical watches, alongside a growing interest in collecting antique and limited-edition watches

Casio, Fossil Group, GIRARD-PERREGAUX, Hermes, IWC Schaffhausen, Patek Philippe SA, Rado Watch Co Ltd, RGM Watch Co., Richemont SA, and Rolex among others.