Luxury Watch Market to Hit USD 87.11 Billion by 2034, Driven by Rising HNWI Wealth and Collectible Demand

Mahesh Chavan

— 4 min read
Luxury Watch Market to Hit USD 87.11 Billion by 2034, Driven by Rising HNWI Wealth and Collectible Demand
Luxury Watch Market

New York, NY, Sept. 16, 2025 -- Straits Research , a leading market intelligence firm, has released its latest report on the global luxury watch market, revealing a robust growth trajectory. The market, valued at USD 47.91 billion in 2025, is projected to grow from USD 51.05 billion in 2026 to USD 87.11 billion by 2034, registering a steady CAGR of 6.9% during the forecast period (2026–2034). This growth is driven by rising global wealth, particularly among high-net-worth individuals (HNWIs), and the increasing perception of luxury watches as collectible, value-retaining assets.

Get a FREE Sample PDF — Unlock an Exclusive Discount on the Full Market Report When You Inquire Through! https://straitsresearch.com/report/luxury-watch-market/request-sample

Market Overview

Luxury watches continue to transcend their functional role, evolving into symbols of craftsmanship, heritage, and status. The market’s growth is fueled by rising affluence, with Capgemini’s World Wealth Report 2024 noting a 4.7% increase in HNWI wealth to USD 86.8 trillion and a 5.1% rise in the global HNWI population to 22.8 million. This wealth expansion supports demand for haute horlogerie and high-complication timepieces, with brands like Rolex, Patek Philippe, and Audemars Piguet leading through scarcity-driven strategies and limited-edition releases.

The certified pre-owned (CPO) market is also a key growth driver, with platforms like Chrono24, WatchBox, and brand-backed initiatives such as Rolex’s CPO program via Bucherer enhancing transparency and consumer trust. According to a Bain & Company study, one in five luxury consumers now views timepieces as investment-grade assets, further boosting both primary and secondary market demand.

Key Market Drivers

  • Rising Affluence and HNWI Growth: The expanding wealth of HNWIs fuels demand for premium timepieces, with brands leveraging scarcity and premium pricing to maintain exclusivity.
  • Luxury as Investment: The perception of luxury watches as collectible assets drives growth in the CPO market, with platforms improving liquidity and authenticity assurance.
  • Women’s and Gender-Neutral Watches: Brands are increasingly targeting female and unisex audiences with downsized mechanical movements, such as Omega’s 30 mm Aqua Terra collection launched in June 2025, reflecting a shift toward inclusivity.

Get a FREE Sample PDF — Unlock an Exclusive Discount on the Full Market Report When You Inquire Through! https://straitsresearch.com/report/luxury-watch-market/request-sample

Market Restraints

Economic slowdowns, currency volatility, and trade frictions pose challenges. The Federation of the Swiss Watch Industry (FHS) reported that Swiss watch exports reached CHF 25.9 billion in 2024, but volumes faced pressure in certain price segments. Additionally, new U.S. tariffs on Swiss watches introduced in 2025 are impacting pricing structures and retail margins in the world’s second-largest luxury market.

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 craftsmanship heritage and tourism-driven retail in cities like Geneva and London.
  • Asia-Pacific: The fastest-growing region with a CAGR of 7.1% in 2025, led by China’s booming domestic market, particularly in Hainan’s duty-free hub, and India’s rising demand for aspirational luxury purchases.
  • U.S.: The largest single market, with flagship boutiques in New York, Miami, and Los Angeles, supported by strong e-commerce and CPO platforms.

Market Segmentation

  • By Movement: Automatic mechanical watches lead with a 58% revenue share in 2025, driven by their craftsmanship and resale value.
  • By Price Tier: The core luxury segment ($3,000–$7,500) dominates with a CAGR of 6.3%, balancing accessibility and prestige.
  • By Case Material: Stainless steel holds a 68% share, favored for durability and versatility.
  • By Distribution Channel: Authorized multi-brand retailers command a 42% share, offering tactile experiences and trusted provenance.
  • By Gender: Men’s watches lead with a CAGR of 6.1%, though women’s and unisex segments are gaining traction.

Get a FREE Sample PDF — Unlock an Exclusive Discount on the Full Market Report When You Inquire Through! https://straitsresearch.com/report/luxury-watch-market/request-sample

Competitive Landscape

The market is moderately consolidated, with key players including Rolex SA, Patek Philippe SA, Audemars Piguet, Richemont Group, LVMH Watch Division, and The Swatch Group Ltd. Rolex continues to dominate through controlled distribution and product scarcity, with its April 2025 launch of the Land-Dweller and refreshed Oyster Perpetual models driving significant demand.

Recent Developments

  • January 2025: LVMH/TAG Heuer signed a strategic partnership to become an official timekeeper for Formula 1, launching F1-themed collections.
  • February 2025: Tissot introduced the “Supersport NBA Special Edition,” a 45.5 mm stainless steel chronograph as the official watch of the NBA.

About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, specially designed and presented for decision-making and ROI.

https://www.linkedin.com/pulse/top-brands-like-rolex-cartier-apple-drive-luxury-bw2rf/

https://sites.google.com/view/consumerandpackageingresearchr/home/massage-oil-market

https://sites.google.com/view/straitsresearchindustrypr/home/industrial-reels-market

https://sites.google.com/view/consumerandpackageingresearchr/home/paper-straw-market

https://sites.google.com/view/advancedmaterialsresearch/home/roofing-materials-market

https://sites.google.com/view/advancedmaterialsresearch/home/composite-utility-pole-market

https://sites.google.com/view/consumerandpackageingresearchr/home/barbeque-grill-market

https://sites.google.com/view/foodandbeveragesresearchreport/home/superfood-market

https://sites.google.com/view/straitsresearchindustrypr/home/tunnel-boring-machine-market

https://sites.google.com/view/foodandbeveragesresearchreport/home/animal-feed-additives-market

https://sites.google.com/view/specialty-chemicals-research/home/instrumentation-services-market

Read more