ID: PMRREP33558| 188 Pages | 24 Nov 2025 | Format: PDF, Excel, PPT* | Consumer Goods
The global luxury watches market size was valued at US$ 45.0 billion in 2025 and is projected to reach US$ 61.2 billion by 2032, growing at a CAGR of 4.5% between 2025 and 2032. This expansion reflects strong consumer appetite for premium timepieces driven by rising global wealth, especially among high-net-worth individuals (HNWIs), who continue to expand the addressable market for luxury watches.
According to the Federation of the Swiss Watch Industry (FHS), Swiss watch exports reached CHF 25.9 billion in 2024, demonstrating stable growth across key regions, while initiatives such as traceability programs, certified pre-owned rollouts, and brand-controlled platforms help sustain market momentum. The market's resilience is further supported by luxury watches' status as collectible, value-retaining assets that support steady demand in both primary and certified pre-owned channels.
| Market Attribute | Key Insights |
|---|---|
| Market Size (2025E) | US$ 45.0 Bn |
| Projected Market Value (2032F) | US$ 61.2 Bn |
| Global Market Growth Rate (CAGR 2025 to 2032) | 4.5% |
| Historical Market Growth Rate (CAGR 2019 to 2024) | 3.5% |
Companies are scaling their production, expanding retail presence, and reviving historic brands to strengthen their position in an evolving industry. Rolex made a significant investment with a new manufacturing facility in Bulle, Switzerland, in June 2024, and set to open in 2029.
This expansion aims to address the supply-demand gap, following the production of 1.24 million timepieces in 2023 and CHF 10.1 billion ($11.5 billion) in sales. This is expected to accelerate sales for the luxury watches market.
Heritage restoration is gaining momentum as brands capitalize on the rising interest in vintage models. In 2023, Jaeger-LeCoultre’s initiative to offer fully restored vintage watches reflects this shift, preserving historical designs to attract collectors.
Strengthening its retail presence, the brand made a grand opening as flagship boutique at WF Central in Beijing on October 2024. With a prime location in Wangfujing, the boutique enhances brand prestige and caters to affluent consumers seeking timepieces with rich heritage.
Partnerships are redefining the luxury watch industry as brands expand reach, innovation, and cultural relevance through strategic alliances. Breitling’s 2024 licensing deal with the NFL enhances its visibility among millions of North American fans, while Richard Mille’s partnership with Ferrari exemplifies innovation through co-engineered design and research in precision horology.
Sustainability-focused collaborations like Cartier and Kering’s Watch & Jewellery Initiative 2030 and Breitling’s Climate Impulse project highlight growing ethical and environmental commitments. Similarly, Vacheron Constantin’s alliance with The Met (2023) underscores ties to art and heritage. These cross-industry partnerships elevate craftsmanship, authenticity, and consumer engagement, driving a more responsible and culturally connected luxury watch market.
The persistence of counterfeit watches, estimated at over 40 million units annually about 25% more than total Swiss production, continues to erode brand credibility and consumer trust.
Despite strict enforcement and authentication tools like blockchain certification and micro-engraved serials, counterfeiters increasingly exploit online platforms with high-quality replicas that closely mimic genuine craftsmanship. Counterfeits now represent 20-35% of global fake goods, threatening revenues and undermining luxury watch exclusivity.
Simultaneously, the rising adoption of smartwatches among younger consumers is reshaping demand patterns. Brands like Apple and Samsung dominate through affordability, personalization, and health-tracking features, drawing interest away from traditional mechanical watches. While luxury brands retain prestige through heritage and artistry, they struggle to match smartwatch innovation cycles, forcing many, such as TAG Heuer and Hublot to develop hybrid digital models to stay competitive.
The rapid expansion of the pre-owned luxury watch market presents a major opportunity for brands to boost revenue and customer reach. Leading companies such as Rolex, Audemars Piguet, and Richemont are integrating authenticated resale programs and investing in secondhand platforms to strengthen pricing control and brand authenticity.
With 54% of Gen Z and young millennials increasing spending on watches and 66% of buyers prioritizing resale value, brands can attract new demographics while reinforcing exclusivity and long-term value.
Luxury watchmakers can enhance transparency, customer trust, and data-driven insights by leveraging blockchain authentication, AI-driven demand forecasting, and digital resale ecosystems. This proactive approach allows brands to merge tradition with technology, capture growing investment-driven demand, and position themselves competitively.
The surge in demand for high-complication watches reflects a growing appreciation for technical mastery and artistic craftsmanship among collectors. Brands such as Patek Philippe showcased this trend with the Aquanaut Luce Minute Repeater (November 2023) a complex yet elegant innovation.
Similarly, Rolex’s 2024 Oyster Perpetual Deepsea in 18 ct yellow gold highlights precision engineering and premium materials. These timepieces, integrating minute repeaters, perpetual calendars, and split-second chronographs, appeal to affluent buyers seeking exclusivity, innovation, and investment-grade craftsmanship.
Luxury watchmakers are capitalizing on this momentum through specialized launches and limited editions. Breitling’s Avenger Collection (November 2023), designed for professionals, underscores the industry’s shift toward functional artistry. As brands blend mechanical sophistication with heritage, high-complication timepieces continue to define prestige, differentiation, and long-term growth in the Luxury Watches Market.
The mechanical segment, accounting for 44.5% of the luxury watch market in 2025, continues to dominate due to its association with timeless craftsmanship, precision engineering, and heritage appeal. Consumers increasingly value the artistry and manual expertise behind these timepieces, viewing them as more than functional objects they are symbols of legacy, tradition, and status.
Swiss and German brands like Rolex, Patek Philippe, Audemars Piguet, and Vacheron Constantin exemplify excellence through intricate movements and impeccable quality control.
Mechanical watches are also seen as emotional and investment assets, often passed down across generations. Their enduring value, coupled with advancements in complication miniaturization and women-focused automatic collections, continues to strengthen consumer loyalty. This blend of technical mastery and emotional connection ensures mechanical watches remain central to luxury horology’s enduring appeal.
The above US$ 25,000 price range leads the global luxury watches market, representing 42.0% of total sales in 2025. This dominance reflects the strong appetite among high-net-worth individuals for ultra-luxury timepieces that embody exclusivity, innovation, and investment potential.
Brands such as Rolex, Patek Philippe, Richard Mille, and Audemars Piguet define this tier through handcrafted excellence, limited production runs, and cutting-edge materials that elevate both performance and prestige.
These watches often appreciate in value, appealing to collectors seeking portable assets and long-term investments. The focus on bespoke customization, artistic complications, and refined materials further amplifies desirability. As affluent consumers prioritize uniqueness and heritage craftsmanship, the ultra-luxury segment remains the core driver of profitability and brand prestige in the global watch industry.
The new purchase segment, accounting for 68.2% of the global luxury watch market in 2025, continues to dominate as consumers prioritize authenticity, craftsmanship, and innovation in original timepieces. Collectors increasingly seek exclusive releases that blend technical mastery with design heritage. Brands such as Patek Philippe and Rolex are introducing advanced complications, rare materials, and limited editions to enhance their appeal among discerning buyers.
Innovation-driven collections, such as Breitling’s Avenger series, exemplify how brands use new product launches to sustain engagement and reinforce market differentiation. With intricate horological advancements and a strong emotional connection to heritage, the new purchase segment remains central to brand prestige and long-term growth in the evolving luxury watch industry.
The online store segment leads the luxury watch market, contributing 29.3% to total sales in 2025, driven by rising digital adoption and direct-to-consumer (DTC) strategies. Luxury brands are strengthening e-commerce and omnichannel platforms to reach global consumers while maintaining exclusivity and authenticity. Online watch sales have surpassed US$6 billion, representing 10-15% of premium and ultra-luxury watch transactions.
This digital expansion allows brands to reclaim customer relationships and control pricing, with nearly US$2.4 billion in annual revenue shifting from retailers to manufacturers. Brands like Zenith, which achieved 50% DTC sales by 2020, exemplify this transition. Despite online growth, in-store experiences remain vital especially in markets like China, where 90% of consumers still prefer boutique interactions.
North America exhibits steady growth in the luxury watches market, projected to expand at a CAGR of 4.9% from 2025 to 2030. The region showcases mature luxury consumption patterns, led by the United States, which remains the largest market for premium Swiss and independent watch brands.
Rising demand among high-income consumers, increasing preference for mechanical craftsmanship, and strong influencer-led marketing continue to drive brand engagement and aspirational purchases.
The region’s regulatory environment supports stringent intellectual property protection and brand authentication, although counterfeit challenges persist. Rapid adoption of e-commerce and direct-to-consumer models is reshaping purchasing behavior, with online luxury watch sales gaining traction while boutique experiences remain essential for ultra-luxury buyers. As brands blend digital convenience with in-store exclusivity,
North America’s luxury watch market continues to evolve with refined sophistication and heritage appeal.
Europe accounts for 30.2% of the global luxury watch market in 2025, maintaining its legacy as the heart of fine horology. Switzerland, Germany, France, and the UK anchor the region’s leadership through deep-rooted craftsmanship, innovation, and design excellence. Switzerland remains synonymous with precision and heritage, while France’s luxury tourism and Germany’s engineering-driven brands reinforce Europe’s dominance.
The UK’s strong retail landscape and growing pre-owned market attract both domestic and international buyers. Meanwhile, Italy’s fashion-led watch culture enhances regional appeal through artisanal and limited-edition collections.
European consumers continue to value timeless craftsmanship, exclusivity, and authenticity, while expanding e-commerce platforms complement traditional boutiques. This balance of heritage and digital evolution ensures Europe’s continued prominence in global luxury watch sales.
Asia Pacific leads the global luxury watches market with 39.3% share in 2025, driven by a rapidly expanding affluent population, urbanization, and evolving lifestyle aspirations. China dominates regional demand with strong domestic retail and duty-free segments, while India emerges as the fastest-growing market fueled by rising disposable incomes and a younger demographic seeking premium status symbols.
Japan, Hong Kong, and Singapore remain central hubs for high-end retail, auctions, and collector communities, while Southeast Asian markets like Thailand and Indonesia contribute to consistent regional momentum. The rise of online luxury platforms and pre-owned marketplaces is reshaping purchasing behavior, offering accessibility and authenticity to new buyers.
With heritage, innovation, and investment value converging, Asia Pacific continues to anchor global luxury watch growth.
The global luxury watches market is fairly consolidated, with only a handful of players commanding a significant portion of the market share. The top five companies Rolex, Patek Philippe, Audemars Piguet, Cartier, and Omega collectively hold around 55% of the market.
Manufacturers are actively diversifying their offerings to appeal to collectors and luxury enthusiasts. Rolex is strengthening its market position through exclusive product launches and capacity expansion, while Patek Philippe focuses on technical sophistication and aesthetic refinement. This competitive landscape highlights a focus on brand prestige, innovation, and strategic partnerships to sustain dominance in the luxury watch market.
The global luxury watches market was valued at US$ 45.0 billion in 2025 and is projected to reach US$ 61.2 billion by 2032, growing at a CAGR of 4.5%.
Growth is driven by the rising affluent population, especially HNWIs in emerging markets, and the expansion of the pre-owned luxury watch segment.
The Mechanical watches segment dominates the market with approximately 44-45% market share, The Mechanical Watches segment dominates with 44.5% share, led by Swiss brands emphasizing craftsmanship and heritage.
Asia Pacific leads with 39.3% market share, driven by China’s dominance and India’s 11-12% annual growth.
High growth opportunities exist in India, Southeast Asia, and the Middle East, driven by urbanization and rising disposable incomes.
Major players include Rolex, Cartier, Omega, Audemars Piguet, and Patek Philippe, with others like Richard Mille, TAG Heuer, and LVMH contributing significantly.
| Report Attribute | Details |
|---|---|
| Historical Data/Actuals | 2019 - 2024 |
| Forecast Period | 2025 - 2032 |
| Market Analysis Units | Value:US$ Mn/Bn, Volume: As Applicable |
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By Mechanism
By Price Range
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