Europe Luxury Watch Market Size, Share & Analysis - Industry Growth, Forecast Trends and Outlook Report (2024-2032)

Europe Luxury Watch Market Size

The Europe luxury watch market reached around USD 6.34 billion in 2023. The market is projected to grow at a CAGR of 3.4% between 2024 and 2032 to reach nearly USD 8.60 billion by 2032.

Europe Luxury Watch Market Outlook

• 75% of internet users in European countries purchased some goods and services online in 2023.

• In 2022, total B2C e-commerce shipments in Italy surged by 1.3% y-o-y, where luxury watches enjoy a strong demand.

• Nearly 10 new stores for fine jewellery and luxury watches opened in Greece between 2019 and 2023.

Europe Luxury Watch Market Growth

Premium jewellery and luxury watches report annual sales worth over $330 billion globally. By 2025, the luxury watches’ demand is expected to grow at a rate of 1%-3%. To tackle structural weaknesses in the watchmaking industry, major luxury brands are expected to adopt a direct-to-consumer strategy, which can directly transfer the benefit of $2.4 billion in revenue to luxury watch producers and boost sales by enhancing client serving capabilities. Between 2019 and 2025, the direct-to-consumer sales of watches are expected to reach nearly 30% of overall sales, recording an average annual growth rate of 7%-9%. This is expected to drive the European market for luxury watches.

The younger generation of consumers, collectors, and budget-conscious customers are expected to benefit immensely from the emergence of the pre-owned luxury goods market, where the segment of pre-owned luxury watches is expected to achieve sales of $29 billion-$32 billion by 2025 while recording an average annual growth rate of 8%-10%. This is expected to drive the market in Europe in the forecast period.

To avoid revenue losses worth $2.5 billion by 2025, the traditional watch midmarket is expected to implement innovative marketing strategies and introduce unique designs of watches to sustain in the global market. This is expected to favour its expansion in Europe, thereby leading to the market growth.

Europe Luxury Watch Industry Segmentation

Europe Luxury Watch Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Electronic

• Mechanical

Market Breakup by Distribution Channel

• Online

• Offline

Market Breakup by Country

• Germany

• United Kingdom

• France

• Italy

• Others

Europe Luxury Watch Market Share

Based on region, the market is segmented into the United Kingdom, Germany, France, and Italy, among others. Germany is projected to dominate the market, representing 18% of the overall market share. Over the forecast period, the United Kingdom is expected to grow at a CAGR of 3.9% due to the emergence of retail stores of international luxury watch brands.

Leading Companies in the Europe Luxury Watch Market

Major luxury watch manufacturers in the region are targeting domestic and international markets (especially Asia) to bolster their financial earnings and cater to the evolving choices of consumers in luxury fashion.

• ROLEX SA.

• The Swatch Group Ltd.

• Bremont Watch Company Limited

• Breitling SA

• LVMH Moët Hennessy Louis Vuitton SE

• Seiko Watch Corporation

• Audemars Piguet

• Richard Mille Group

• Movado Group Inc.

• Bell & Ross SARL

• Others

Key Highlights of the Report