Updated Nov 20, 2022 13:50

Watch Market in the European Union

Market Overview
The EU watch market soared to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.

In value terms, watch production surged to $ in estimated in export price. The total production indicated mild growth from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2013 indices. Over the period under review, production hit record highs at $ in 2013; however, from 2014 to , production remained at a lower figure.

The countries with the highest volumes of production in were Portugal ( units), France ( units) and Lithuania ( units), with a combined % share of total production. Belgium, Germany, Luxembourg and Italy lagged somewhat behind, together accounting for a further %.

From 2007 to , the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Luxembourg (with a CAGR of +%), while production for the other leaders experienced mixed trends in the production figures.


Consumption
In , consumption of watches increased by % to units, rising for the third year in a row after four years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, consumption attained the maximum volume at units in 2015; however, from 2016 to , consumption remained at a lower figure.

The value of the watch market in the European Union declined modestly to $ in , approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.


Consumption by Country
The countries with the highest volumes of consumption in were Ireland ( units), France ( units) and Germany ( units), together accounting for % of total consumption.

From 2007 to , the biggest increases were recorded for Ireland (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, France ($) led the market, alone. The second position in the ranking was held by Germany ($). It was followed by Italy.

From 2007 to , the average annual growth rate of value in France totaled +%. In the other countries, the average annual rates were as follows: Germany (+% per year) and Italy (-% per year).

From 2007 to , the average annual rate of growth in terms of the watch per capita consumption in No country was relatively modest.


Market Forecast
Driven by increasing demand for watch in the European Union, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .