New York, NY – September 5, 2025 – The global luxury watch market, valued at USD 47.91 billion in 2025, is projected to grow to USD 87.11 billion by 2034, achieving a robust CAGR of 6.9% from 2026 to 2034, according to a comprehensive new report by Straits Research. This growth is fueled by increasing global affluence, the rise of High Net Worth Individuals (HNWIs), and the growing perception of luxury watches as both collectible assets and investment opportunities.

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Key Market Drivers

The surge in global wealth, particularly among HNWIs, is a significant catalyst for market expansion. According to Capgemini’s World Wealth Report 2024, HNWI wealth grew by 4.7% to USD 86.8 trillion, with their population increasing by 5.1% to 22.8 million. This wealth concentration supports demand for haute horlogerie, with brands like Rolex, Patek Philippe, and Audemars Piguet leveraging scarcity and premium pricing to maintain exclusivity.

Luxury watches are increasingly viewed as investment-grade assets, boosting the Certified Pre-Owned (CPO) market. Platforms like Chrono24 and WatchBox, alongside brand-backed programs such as Rolex’s CPO initiative through Bucherer, enhance transparency and trust, driving both primary and secondary market growth. The report highlights that one in five luxury consumers now considers timepieces as investments, further supported by the rise of women’s and gender-neutral mechanical watches, with brands like Omega leading the charge with their 30 mm Aqua Terra collection launched in June 2025.

Regional Insights

  • Europe: Dominating with a 41% market share in 2025, Europe remains the epicenter of luxury watch production and consumption, driven by Switzerland’s manufacturing prowess, tourism retail hubs, and a strong collector culture. The UK and Germany stand out as key markets, with London’s Bond Street and German engineering-focused buyers driving demand.

  • Asia Pacific: The fastest-growing region with a CAGR of 7.1% in 2025, led by China, the world’s largest single market for luxury watches. Hainan’s duty-free hub and a cultural emphasis on gifting fuel growth, while India emerges as a high-potential market with rising incomes and aspirational buyers.

  • United States: The U.S. leads as a cultural and retail powerhouse, with New York, Miami, and Los Angeles hosting flagship boutiques. The professionalization of e-commerce and CPO platforms further strengthens its market position.

Market Segmentation Highlights

  • By Movement: Automatic mechanical watches hold a 58% revenue share in 2025, driven by craftsmanship and collector appeal.

  • By Price Tier: The core luxury segment ($3,000-$7,500) leads with a CAGR of 6.3%, balancing prestige and accessibility.

  • By Case Material: Stainless steel dominates with a 68% share, favored for durability and versatility.

  • By Distribution Channel: Authorized multi-brand retailers account for 42% of the market, offering tactile experiences and CPO services.

  • By Gender: Men lead with a CAGR of 6.1%, though women’s and unisex segments are gaining traction.

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Competitive Landscape

The market is moderately consolidated, with key players like Rolex SA, Patek Philippe, Richemont Group, Audemars Piguet, and LVMH driving innovation and exclusivity. Rolex continues to dominate through controlled distribution and strategic product launches, such as the Land-Dweller and refreshed Daytona dials unveiled in April 2025. Recent developments include LVMH/TAG Heuer’s F1-themed collections and Tissot’s NBA Special Edition watch, reinforcing brand relevance through sports partnerships.

Market Challenges and Opportunities

While economic slowdowns and trade frictions, such as U.S. tariffs on Swiss watches, pose challenges, the CPO market presents significant growth opportunities. Initiatives like Richemont’s Watchfinder expansion and manufacturer-backed programs are transforming resale into a strategic growth driver, enhancing brand equity and customer engagement.

About Straits Research

Straits Research is a leading market intelligence firm providing actionable insights and data-driven reports on global industries. For a detailed analysis of the luxury watch market, including charts, statistics, and strategic insights, visit Straits Research.