The report is titled as ‘Luxury Watch Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Luxury Watch Market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market.
The global luxury watch market is estimated to reach at a value of US$ 50.4 Bn by the end of 2022 and expected to reach at a value of US$ 71.6 Bn by 2030 with a significant CAGR of 4.5%.
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Luxury Watch Introduction
There is no prescribed denotation for what is classed a luxury watch. In a general sense, luxury watches are classified as the watches which are primarily manually designed watches of remarkably superior quality along with a premium price. Contrary to quartz watches, mechanical watches are not run by a battery. By contrast, they are mechanized by a manually-operated winding or self-winding (automatic) motion. At any rate, components of the motion are handcrafted and indicate a far greater expenditure in manufacturing than industrially designed quartz watches. Watch manufacturing in Switzerland and Europe paves its way to ineluctable considerably higher costs than for a watch manufactured in Asia.
In addition to that, jewels (diamonds, rubies, and many more) and precious metals (gold, silver, platinum) assure a more precious quality and substantially enhance the value of a luxury watch. Just as importantly, the leading manufacturers of the market also restrict production volumes to establish a paucity on the market, which is a significant factor in attaining the premium price. And thus, extraordinarily well-known and second-hand paragons, which are from now on manufactured in present times, achieve market prices that are considerably above the original purchase price. The growing demand for luxurious products among the population all across the world is primarily projected to drive the market growth over the coming years.
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Luxury Watch Market Segmentation
The global luxury watch market is segmented on the basis of type, gender type, distribution channel, and region
By Type
- Analogue Watch
- Digital Watch
By Gender Type
- Men
- Women
- Unisex
By Distribution Channel
- Internet Retailing
- Departmental Stores
- Specialist Retailers
- Exclusive Showrooms
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Luxury Watch Market Key Players
Some of the key participating players in global Luxury Watch market are:
- RADO WATCH CO. LTD.
- ROLEX SA
- Burberry Limited
- OMEGA SA
- Festina
- Ulysse Nardin
- LVMH
- Richemont
- TITAN LTD.
- KERING
- The Swatch Group Ltd
- Fossil Group, Inc.
- Seiko Watch Corporation
- Apple Inc.
- CHANEL International B.V.
- Audemars Piguet
- Le Brassus
- Chopard
- PATEK PHILIPPE SA
- Breitling
- Bulgari S.p.A.
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