Luxury Watches Market Overview

The Luxury watches market is anticipated to grow significantly from 2025 to 2035, driven by rise of high-net-worth individuals (HNWIs) globally, has fuelled demand for luxury watches. By 2025, the market is projected to reach a value of around USD 47.8 Billion. Looking ahead to 2035, it is expected to expand further to about USD 88.9 Billion. This represents an annual growth rate of 7.5% over the ten-year period.

As incomes rise, more people are splurging on luxury and collectibles. Luxury and high-value products like fine art, rare wines, and most prominently luxury watches are in greater demand. This is a reflection of a high-end lifestyle in which consumers are searching for exclusive and prestigious products as symbols of status and sophistication.

Luxury watches, in particular, are a new fixation among high-net-worth individuals, most notably millennials and Gen Z. For young consumers, luxury watches represent a blend of status, enjoyment, and exclusivity. Luxury watches are increasingly viewed as investment items by high-net-worth individuals (HNWIs). Once regarded as personal souvenirs, collectibles are being regarded as serious investments. Luxury watches are among them and are highly sought-after objects, valued for their aesthetic appeal and for their future value in a burgeoning collectibles market.

Luxury Watches Market Drivers and Opportunities

Growing wealth & aspirational buying is anticipated to lift the luxury watches market during the forecast period

​ Growth in luxury watches is driven to a great extent by rising affluence and aspirational consumption.  With more disposable income, consumers are increasingly willing to spend on luxury watches as investment and status symbols, most notably among high-net-worth individuals (HNWIs) and affluent millennials in emerging economies like China, India, and in the Middle East.

One of the most valued luxuries watch companies, Rolex, has continuously profited from rising worldwide prosperity. For example, with several models appreciating in price greatly, Rolex dominated the secondary market in 2023. Due to their scarcity, Daytona, Submariner, and GMT-Master II models typically sell for more than their retail price. Leveraging the secondary market, Rolex's new Certified Pre-Owned (CPO) program lures aspirational consumers who desire to purchase certified pre-owned products and makes the brand investment-friendly.

Limited Supply & Exclusivity driver for influencing the growth of the global luxury watches market

Limited editions and exclusivity are significant drivers in fuelling growth in the luxury watches segment. Both are factors in making luxury watches status symbols and collectibles, and thus drivers in demand from collectors and high-net-worth individuals. Luxury watches businesses frequently release limited-edition watches to provide a perception of rarity and exclusivity, thus making them more sought after. For instance, businesses such as Rolex and Omega have launched limited-edition watches with a historical or cultural connection, such as Omega's "Seamaster 300M 'Paris 2024' Special Edition" for the Olympics.

In addition, Brands collaborate with artists, celebrities, and cultural institutions to add exclusivity with customized designs or co-branded collections. For example, Rolex collaborated with the Vienna Philharmonic to develop a limited-edition Day-Date watch.

Increasing demand from emerging markets & digital sales growth is significant opportunities in the global luxury watches market

The luxury watches market is booming due to rising prosperity in developing economies and rapid digital sales growth.  China, India, and the UAE are all experiencing a surge in high-net-worth individuals (HNWIs) that is driving demand for expensive watches as status symbols and investments.  Brands such as Rolex and Patek Philippe are taking advantage of this with greater presence in the markets, with India being a particularly significant market due to favourable government policies and a burgeoning luxury consumer market.

At the same time, luxury watches purchasing behaviour has been transformed with online sales, with online sellers like Chrono24, WatchBox, and Hodinkee making luxury watches more accessible. Cartier and Breitling are embracing digital, with digital consultations, online-exclusive launches, and omnichannel retail to attract young, tech-savvy consumers. With social networking and influencer advertising driving online engagement, luxury watch firms that balance digital strategies with expansion into developing economies are set for enduring success.

Luxury Watches Market Scope

Luxury Watches Market Report Segmentation Analysis

The global luxury watches market industry analysis is segmented into by Type, by gender, by End-user, and by region.

The Quartz/Mechanical Watch segment is anticipated to hold the highest share of the global luxury watches market during the projected timeframe.

By Type Quartz/Mechanical Watch segment leading luxury watches market, Luxury buyers highly value mechanical watches with fine craftsmanship and traditional designs. These watches are perceived as timeless symbols of status and collectibles and therefore have a market dominance. Luxury watches are also integrating sophisticated technologies in quartz and mechanical watches to enhance their popularity. For instance, technological innovations in materials, movements, and customizability are to credit for their popularity with luxury buyers.

The Men segment dominated the market in 2024 and is predicted to grow at the highest CAGR over the forecast period.

Men's luxury watches typically have features that appeal to male consumers, such as big dials, tough designs, and sophisticated features. These features appeal to the preferences of men who desire style and functionality in watches. Luxury watches are typically regarded as symbols of status among men, particularly in professional and social settings. This cultural relevance is responsible for added demand for men's watches relative to other market niches. Luxury watches firms focus on men's lines with a range of models designed to appeal to their preferences. Marketing campaigns usually appeal to male consumers via appeals to tradition, craftsmanship, and rarity.

The online segment is predicted to grow at the highest CAGR over the forecast period.

On the basis of Distribution Channel, the luxury watches market is classified into online store and offline stores. Offline channels such as luxury boutiques, multi-brand retailers, and authorized retailers provide consumers with a sense of security and confidence in making high-value purchases such as luxury watches. Customers can feel and see the product, verify its authenticity, and interact with trained staff, which is crucial for such high-value purchases. Luxury watches brands highly value their history and rarity through flagship stores and luxury boutiques. Such physical stores themselves can serve as brand ambassadors, showcasing the craftsmanship and history of watches in an experiential setup.

The following segments are part of an in-depth analysis of the global luxury watches market:

Luxury Watches Market Share Analysis by Region

North America is projected to hold the largest share of the global luxury watches market over the forecast period.

A high density of High-Net-Worth Individuals (HNWIs) in North America is a significant demand driver for luxury watches as symbols and investments. Both the U.S. and Canada are significant markets, with a large share of regional demand from the U.S. Luxury watches in the region have a favourable growth potential, supported by a robust retail presence in major cities like New York, Los Angeles, and Miami, with a high density of luxury boutiques and authorized retailers. Additionally, greater popularity for pre-owned luxury watches in North America is enticing collectors and new consumers in pursuit of affordability.

In Europe, luxury watches hold a rich cultural significance and are associated with tradition, craftsmanship, and prestige. Luxury watches in Europe have been aided in their dominance by renowned Swiss watchmakers like Rolex, Patek Philippe, and Omega, which boost their dominance with in-region production and access to high-standard craftsmanship. Europe's established customer base for luxury products has maintained itself as a market leader in luxury watches in the world. Major cities in Europe like Geneva, Paris, and London attract international tourists who contribute a high share to luxury watches sales through flagship stores and high-end boutiques. Both Europe and North America apply their economic clout, cultural appreciation for good craftsmanship, and vast retail network to maintain their dominance in luxury watches.

Luxury Watches Market Competition Landscape Analysis

The market is competitive, with several established players and new entrants offering a range of baby monitor products. Some of the key players include Rolex SA, Lange and Sohne, The Swatch Group Ltd., FOSSIL GROUP INC., Omega and others.

Global Luxury Watches Market Recent Developments News:

o   In 2025, TAG Heuer collaborates with digital artists to introduce watches with customizable animated dials, elevating the idea of wearable art. Moreover, limited-edition designs inspired by classical art masterpieces are emerging as highly coveted collectibles.

o   In 2025, luxury brand partnerships are transforming the industry, ushering in a new era of exclusivity and consumer engagement. These collaborations redefine luxury by extending beyond traditional offerings, allowing consumers to participate in the design process. Through customization and limited-edition collections, brands are fostering deeper emotional connections, enhancing customer loyalty, and reshaping the concept of true exclusivity.