The Asia-Pacific Region to Create Substantial Growth Opportunities for Luxury Watches Market Players through 2021-2027

Region-wise, Asia-Pacific has been gaining significant traction in the luxury watches market and is growing at the fastest CAGR.

WILMINGTON, DELAWARE , UNITED STATES, August 29, 2024 /EINPresswire.com/ -- Product Innovations, penetration through online channels, and surge in the number of billionaires and their net wealth drive the growth of the global luxury watches market. However, surge of counterfeit and fake products and adoption of pre-owned products hinder the market growth. On the other hand, increase in spending on premium quality products creates new opportunities in the coming years.

The global luxury watches market is expected to reach $ 51,317.3 million by 2027 at a CAGR of 4.50% from 2021 to 2027.

📚 𝐃𝐨𝐧'𝐭 𝐦𝐢𝐬𝐬 𝐨𝐮𝐭 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/A06350

Based on region, Europe held the largest market share in 2019, accounting for more than two-fifths of the total share, and is estimated to continue its dominant share in terms of revenue by 2027. However, Asia-Pacific is expected to portray at the highest CAGR of 6.1% during the forecast period.

The report offers detailed segmentation of the global luxury watches market based on type, end user, distribution channel, and region.

Based on type, the mechanical watches segment contributed to the highest market share in 2019, holding around three-fourths of the total share in 2019, and is projected to maintain its leadership status during the forecast period. However, the electronic watches segment is expected to witness the highest CAGR of 6.0% from 2021 to 2027.

On the basis of end user, the men segment was valued at $19,921.4 million in 2019, and is estimated to reach $24,606.8 million by 2027, at a CAGR of 5.10%. Luxury watch has been gaining major traction among men due to the rising trend of fashion among men. Businessmen, high profiled officials, and men engaged in fashion business are the target customers of luxury watches, as these people can afford luxury watches. Increasing adoption of professional attire and having costumes & accessories, which suit to specific professions are expected to motivate men for buying luxury watches.

𝐃𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/A06350

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐥𝐮𝐱𝐮𝐫𝐲 𝐰𝐚𝐭𝐜𝐡𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭
CASIO Computer Co. Ltd.
Compagnie Financière Richemont SA
Citizen Watch Co. Ltd.
LVMH Moet Hennessy - Louis Vuitton
Fossil Group Inc.
Patek Philippe SA
Movado Group Inc.
Seiko Holdings Corp.
Rolex SA
The Swatch Group Ltd.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
𝐅𝐢𝐭𝐧𝐞𝐬𝐬 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/fitness-equipment-market
𝐇𝐨𝐬𝐩𝐢𝐭𝐚𝐥𝐢𝐭𝐲 𝐑𝐨𝐛𝐨𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/hospitality-robots-market-A13078

David Correa
Allied Market Research
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