The Asia Pacific Luxury Watch Market would witness market growth of 5.5% CAGR during the forecast period (2022-2028).
The demand for specialist, expensive watches is being driven by the rise in the number of people participating in professional scuba diving. Diver-friendly qualities like waterproofness and corrosion resistance that work in ocean water are incorporated into the design of these timepieces. In addition, the complexity of aviation is driving the use of luxury timepieces developed specifically for pilots to help with mid-flight aeronautical computations like fuel usage and wind correction angle.
Additionally, the accessibility of luxury timepieces in distinctive materials, strap designs, dial colors, and themes is also increasing. Nowadays, some industry participants are selling used luxury watches through internet retailers at a discount. This has also promoted the growth of used luxury watches or pre-owned luxury watches along with the increased appeal of used luxury goods, particularly among young people due to their accessibility and affordability.
To draw in a sizable customer base, major players also spend money on promotional initiatives like celebrity endorsements. Some of today's customers are utilizing the money that has risen in value in recent years through investing in crypto, meme stocks, NFTs, and other rapid money makers. Customers frequently bring up cryptocurrency windfalls when they make a purchase.
China is among the most demanding markets in the world because of its enormous potential for luxury watch manufacturers to compete and acquire. As the rate of participation in sports and the fashion trend rose, the demand for luxury sports watches also increased significantly. Similarly, in India, the antique Swiss timepiece brand Mugnier was introduced in February 2021 by the online direct sales company QNet in response to market needs and growth. Since then, QNet has offered three new categories under the restored Mugnier brand to the Indian market, namely Mode (fashion), Semper (classic), and Invictus (sports).
The China market dominated the Asia Pacific Luxury Watch Market by Country in 2021; thereby, achieving a market value of $6.7 Billion by 2028. The Japan market is registering a CAGR of 4.9% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 6.2% during (2022 - 2028).
Based on Product, the market is segmented into Electronic and Mechanical. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Luxury Watch Market is Projected to reach USD 53.5 Billion by 2028, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Fossil Group, Inc., LVMH SE, Ralph Lauren Corporation, Rolex SA, Citizen Watch Co., Ltd., Seiko Watch Corporation, Compagnie Financiere Richemont SA, Movado Group, Inc. and The Swatch Group Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Product
By Distribution Channel
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Apple, Inc.
- Fossil Group, Inc.
- LVMH SE
- Ralph Lauren Corporation
- Rolex SA
- Citizen Watch Co., Ltd.
- Seiko Watch Corporation
- Compagnie Financiere Richemont SA
- Movado Group, Inc.
- The Swatch Group Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Luxury Watch Market, by Product
1.4.2 Asia Pacific Luxury Watch Market, by Distribution Channel
1.4.3 Asia Pacific Luxury Watch Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Luxury Watch Market
Chapter 4. Asia Pacific Luxury Watch Market by Product
4.1 Asia Pacific Electronic Market by Country
4.2 Asia Pacific Mechanical Market by Country
Chapter 5. Asia Pacific Luxury Watch Market by Distribution Channel
5.1 Asia Pacific Offline Market by Country
5.2 Asia Pacific Online Market by Country
Chapter 6. Asia Pacific Luxury Watch Market by Country
6.1 China Luxury Watch Market
6.1.1 China Luxury Watch Market by Product
6.1.2 China Luxury Watch Market by Distribution Channel
6.2 Japan Luxury Watch Market
6.2.1 Japan Luxury Watch Market by Product
6.2.2 Japan Luxury Watch Market by Distribution Channel
6.3 India Luxury Watch Market
6.3.1 India Luxury Watch Market by Product
6.3.2 India Luxury Watch Market by Distribution Channel
6.4 South Korea Luxury Watch Market
6.4.1 South Korea Luxury Watch Market by Product
6.4.2 South Korea Luxury Watch Market by Distribution Channel
6.5 Singapore Luxury Watch Market
6.5.1 Singapore Luxury Watch Market by Product
6.5.2 Singapore Luxury Watch Market by Distribution Channel
6.6 Malaysia Luxury Watch Market
6.6.1 Malaysia Luxury Watch Market by Product
6.6.2 Malaysia Luxury Watch Market by Distribution Channel
6.7 Rest of Asia Pacific Luxury Watch Market
6.7.1 Rest of Asia Pacific Luxury Watch Market by Product
6.7.2 Rest of Asia Pacific Luxury Watch Market by Distribution Channel
Chapter 7. Company Profiles
7.1 Apple, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.1.6 SWOT Analysis
7.2 Fossil Group, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.3 Movado Group, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Recent strategies and developments:
7.3.4.1 Partnerships, Collaborations, and Agreements:
7.3.4.2 Acquisition and Mergers:
7.4 LVMH SE
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.4.5 Recent strategies and developments:
7.4.5.1 Acquisition and Mergers:
7.5 Ralph Lauren Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Recent strategies and developments:
7.5.4.1 Product Launches and Product Expansions:
7.6 Citizen Watch Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.7 The Swatch Group Ltd.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.8 Compagnie Financière Richemont SA
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expenses
7.9 Seiko Holdings Corporation
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expenses
7.10. Rolex SA
7.10.1 Company Overview
TABLE 1 Asia Pacific Luxury Watch Market, 2018 - 2021, USD Million
TABLE 2 Asia Pacific Luxury Watch Market, 2022 - 2028, USD Million
TABLE 3 Asia Pacific Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 4 Asia Pacific Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 5 Asia Pacific Electronic Market by Country, 2018 - 2021, USD Million
TABLE 6 Asia Pacific Electronic Market by Country, 2022 - 2028, USD Million
TABLE 7 Asia Pacific Mechanical Market by Country, 2018 - 2021, USD Million
TABLE 8 Asia Pacific Mechanical Market by Country, 2022 - 2028, USD Million
TABLE 9 Asia Pacific Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 10 Asia Pacific Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 11 Asia Pacific Offline Market by Country, 2018 - 2021, USD Million
TABLE 12 Asia Pacific Offline Market by Country, 2022 - 2028, USD Million
TABLE 13 Asia Pacific Online Market by Country, 2018 - 2021, USD Million
TABLE 14 Asia Pacific Online Market by Country, 2022 - 2028, USD Million
TABLE 15 Asia Pacific Luxury Watch Market by Country, 2018 - 2021, USD Million
TABLE 16 Asia Pacific Luxury Watch Market by Country, 2022 - 2028, USD Million
TABLE 17 China Luxury Watch Market, 2018 - 2021, USD Million
TABLE 18 China Luxury Watch Market, 2022 - 2028, USD Million
TABLE 19 China Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 20 China Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 21 China Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 22 China Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 23 Japan Luxury Watch Market, 2018 - 2021, USD Million
TABLE 24 Japan Luxury Watch Market, 2022 - 2028, USD Million
TABLE 25 Japan Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 26 Japan Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 27 Japan Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 28 Japan Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 29 India Luxury Watch Market, 2018 - 2021, USD Million
TABLE 30 India Luxury Watch Market, 2022 - 2028, USD Million
TABLE 31 India Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 32 India Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 33 India Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 34 India Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 35 South Korea Luxury Watch Market, 2018 - 2021, USD Million
TABLE 36 South Korea Luxury Watch Market, 2022 - 2028, USD Million
TABLE 37 South Korea Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 38 South Korea Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 39 South Korea Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 40 South Korea Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 41 Singapore Luxury Watch Market, 2018 - 2021, USD Million
TABLE 42 Singapore Luxury Watch Market, 2022 - 2028, USD Million
TABLE 43 Singapore Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 44 Singapore Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 45 Singapore Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 46 Singapore Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 47 Malaysia Luxury Watch Market, 2018 - 2021, USD Million
TABLE 48 Malaysia Luxury Watch Market, 2022 - 2028, USD Million
TABLE 49 Malaysia Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 50 Malaysia Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 51 Malaysia Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 52 Malaysia Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 53 Rest of Asia Pacific Luxury Watch Market, 2018 - 2021, USD Million
TABLE 54 Rest of Asia Pacific Luxury Watch Market, 2022 - 2028, USD Million
TABLE 55 Rest of Asia Pacific Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 56 Rest of Asia Pacific Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 57 Rest of Asia Pacific Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 58 Rest of Asia Pacific Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 59 Key Information – Apple, Inc.
TABLE 60 Key Information – Fossil Group, Inc.
TABLE 61 Key Information – Movado Group, Inc.
TABLE 62 key Information – LVMH SE
TABLE 63 key Information – Ralph Lauren Corporation
TABLE 64 Key Information –Citizen Watch Co., Ltd.
TABLE 65 Key Information – The Swatch Group Ltd
TABLE 66 Key Information – Compagnie Financière Richemont SA
TABLE 67 Key Information – SEIKO HOLDINGS CORPORATION
TABLE 68 Key Information – Rolex SA
List of Figures
FIG 1 Methodology for the research
FIG 2 SWOT Analysis: apple, Inc.
FIG 3 Recent strategies and developments: Fossil Group, Inc.