Market Overview:
The global mechanical wrist watches market is expected to register a CAGR of 5.8% during the forecast period, 2018-2030. The market growth can be attributed to the increasing demand for luxury watches and rising disposable income of consumers in developing countries. Additionally, the growing trend of collecting watches is also propelling the growth of this market. However, high cost associated with mechanical wrist watches may restrain the growth of this market to some extent during the forecast period. On basis on type, luxury watches are anticipated to lead the global mechanical wrist watch market with a share of more than 60% by 2030 end. This can be attributed to their superior quality and features as compared to common watches.
Product Definition:
Mechanical wristwatch is a watch that uses a mechanical movement to measure time. It is powered by a spring and gears, rather than using an electronic quartz crystal like most digital watches. Mechanical wristwatches are often considered more accurate and durable than their quartz counterparts. Many enthusiasts consider the craftsmanship and engineering behind mechanical watches to be artistry in its own right, making them prized possessions.
Luxury Watches:
Luxury watches are high-end timepieces that are more about style and appearance than functionality. They can be differentiated from mechanical wrist watches as they have a non-chronometric display (no clock). The main target demographic for this market is people who want to wear a watch but do not require its specific functionalities, such as outdoor survival skills or Alarm Clocks.
The global luxury watches market size was valued at USD 7.9 billion in 2015.
Common Watches:
The common watches are the mechanical wrist watches which have a face with an analog display and is used by people who do not require heart rate monitoring functions or GPS tracking. The market for these products is mainly driven by their use as a fashion accessory among teenagers and young adults.
These products are available in different price ranges, some of them within the range of USD 20 to 200, others ranging from USD 500 to 1000 or more.
Application Insights:
The daily use segment held the largest market share of more than 50% in 2017. The daily use mechanical wrist watches are commonly used by people for day to day activities. These watches are available in various designs and prices which makes it suitable for everyone's budget. The other application segment includes special occasions where a person might want to wear a luxury mechanical wrist watch instead of an analog one or digital one depending upon their preference and financial capability.
The others application category includes corporate gift, events, parties, social gatherings etc where people would like to have some fun with their friends or colleagues without being conspicuous about it.
Regional Analysis:
Asia Pacific dominated the market in 2017 owing to increasing disposable income, high demand for luxury watches and rising popularity of mechanical watches. China is expected to be a key revenue contributor in this region. Increasing purchasing power of consumers due to growing economy is also driving the market growth in this region. In addition, favorable government policies are encouraging manufacturers to set up their manufacturing facilities in Asia Pacific countries such as China and India thereby boosting the regional market growth over the forecast period.
Europe was valued at USD X million in 2017 and is anticipated to witness significant growth over the forecast period owing with rise of interest among people towards mechanical wristwatches due its superior quality compared others types of watches available in current times which are driven by advancement technology coupled with fashion appeal that makes it more suitable for both business as well as personal use cases thus making it an important segment within Europe industry verticals including Luxury Goods Market & Services (GSS) along with Common Good Market Service (CGS).
Growth Factors:
- Increasing demand for luxury goods: The global luxury goods market is expected to grow at a CAGR of 5.8% from 2016 to 2020. This is due to the increasing disposable income of consumers, especially in developing countries. Mechanical wrist watches are considered as a status symbol and are among the most popular luxury items.
- Technological advancements: Advancements in technology have led to the development of new and innovative mechanical wrist watches, such as those that can be used for navigation or tracking fitness goals. This has attracted more consumers to this category of watches and helped boost sales growth.
- Rising popularity of smartwatches: While mechanical wrist watches remain popular, sales growth has been impacted by the rising popularity of smartwatches in recent years (especially among millennials). However, many people still prefer traditional mechanical watches over their smart counterparts due to their design, functionality and durability features – which could help revive growth prospects for this market segment over the forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Mechanical Wrist Watches Market Research Report
By Type
Luxury Watches, Common Watches
By Application
Daliy Use, Collection, Others
By Companies
Swatch Group, Rolex, Richemont, LVMH, Fossil, Citizen, Seiko, Patek Philippe, Casio, Chopard, Swatch Group, Movado Group, Kering, Breitling
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
218
Number of Tables & Figures
153
Customization Available
Yes, the report can be customized as per your need.
Global Mechanical Wrist Watches Market Report Segments:
The global Mechanical Wrist Watches market is segmented on the basis of:
Types
Luxury Watches, Common Watches
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Daliy Use, Collection, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Swatch Group
- Rolex
- Richemont
- LVMH
- Fossil
- Citizen
- Seiko
- Patek Philippe
- Casio
- Chopard
- Swatch Group
- Movado Group
- Kering
- Breitling
Highlights of The Mechanical Wrist Watches Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Luxury Watches
- Common Watches
- By Application:
- Daliy Use
- Collection
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Mechanical Wrist Watches Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Mechanical wrist watches are timepieces that use a mechanical watch movement. This type of watch is powered by an internal engine, which winds the mainspring and powers the gears inside the watch. Mechanical wrist watches are typically more expensive than quartz models, but they often have more features and are better quality.
Some of the major companies in the mechanical wrist watches market are Swatch Group, Rolex, Richemont, LVMH, Fossil, Citizen, Seiko, Patek Philippe, Casio, Chopard, Swatch Group, Movado Group, Kering, Breitling.
The mechanical wrist watches market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mechanical Wrist Watches Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mechanical Wrist Watches Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mechanical Wrist Watches Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mechanical Wrist Watches Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mechanical Wrist Watches Market Size & Forecast, 2018-2028
4.5.1 Mechanical Wrist Watches Market Size and Y-o-Y Growth
4.5.2 Mechanical Wrist Watches Market Absolute $ Opportunity
Chapter 5 Global Mechanical Wrist Watches Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Mechanical Wrist Watches Market Size Forecast by Type
5.2.1 Luxury Watches
5.2.2 Common Watches
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Mechanical Wrist Watches Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Mechanical Wrist Watches Market Size Forecast by Applications
6.2.1 Daliy Use
6.2.2 Collection
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mechanical Wrist Watches Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mechanical Wrist Watches Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Mechanical Wrist Watches Analysis and Forecast
9.1 Introduction
9.2 North America Mechanical Wrist Watches Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Mechanical Wrist Watches Market Size Forecast by Type
9.6.1 Luxury Watches
9.6.2 Common Watches
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Mechanical Wrist Watches Market Size Forecast by Applications
9.10.1 Daliy Use
9.10.2 Collection
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Mechanical Wrist Watches Analysis and Forecast
10.1 Introduction
10.2 Europe Mechanical Wrist Watches Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Mechanical Wrist Watches Market Size Forecast by Type
10.6.1 Luxury Watches
10.6.2 Common Watches
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Mechanical Wrist Watches Market Size Forecast by Applications
10.10.1 Daliy Use
10.10.2 Collection
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Mechanical Wrist Watches Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Mechanical Wrist Watches Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Mechanical Wrist Watches Market Size Forecast by Type
11.6.1 Luxury Watches
11.6.2 Common Watches
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Mechanical Wrist Watches Market Size Forecast by Applications
11.10.1 Daliy Use
11.10.2 Collection
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Mechanical Wrist Watches Analysis and Forecast
12.1 Introduction
12.2 Latin America Mechanical Wrist Watches Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Mechanical Wrist Watches Market Size Forecast by Type
12.6.1 Luxury Watches
12.6.2 Common Watches
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Mechanical Wrist Watches Market Size Forecast by Applications
12.10.1 Daliy Use
12.10.2 Collection
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Mechanical Wrist Watches Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Mechanical Wrist Watches Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Mechanical Wrist Watches Market Size Forecast by Type
13.6.1 Luxury Watches
13.6.2 Common Watches
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Mechanical Wrist Watches Market Size Forecast by Applications
13.10.1 Daliy Use
13.10.2 Collection
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mechanical Wrist Watches Market: Competitive Dashboard
14.2 Global Mechanical Wrist Watches Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Swatch Group
14.3.2 Rolex
14.3.3 Richemont
14.3.4 LVMH
14.3.5 Fossil
14.3.6 Citizen
14.3.7 Seiko
14.3.8 Patek Philippe
14.3.9 Casio
14.3.10 Chopard
14.3.11 Swatch Group
14.3.12 Movado Group
14.3.13 Kering
14.3.14 Breitling
