Press release
Global Wrist Watch Market to Witness a Pronounce Growth During 2023
Watch is a small timepiece intended to be carried or worn by a person. It is designed to keep working despite the motions caused by the person's activities. A wristwatch is designed to be worn on a wrist, attached by a watch strap or other type of bracelet.
At present, in the foreign industrial developed countries the wrist watch industry is generally at a more advanced level, the world's large enterprises are mainly concentrated in Switzerland, Japan, etc. Meanwhile, foreign companies have more advanced equipment, strong R & D capability, the technical level is in a leading position. But foreign companies’ manufacturing cost is relatively high, compared with Chinese companies, so the manufacturing cost has competitive disadvantage, as the Chinese wrist watch production enterprise technology continues to improve, their share in the international market will increase competitiveness.
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Global Wrist Watch Market: Forecast by Type / Application / Region
Chinese wrist watch industry has developed into a national industry with certain research and production capacity, industry product mix has gradually improved, currently China has become international wrist watch largest manufacture country, in addition to middle and low wrist watch products, some leading companies have been able to provide some high-end wrist watch products, so they have already had a competitive edge in the international arena.
With the rapid growth of the national economy as well as the rapid development of downstream industries, Chinese wrist watch market demand is exuberant so it can provide a good opportunity for the development of wrist watch market and technology.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area and the future will still have more new investment entering the field.
Along with the development of Chinese domestic equipment, Chinese domestic equipment has been very mature and advanced, and the performance distance has been shortened compared with the imported equipment.
Although wrist watch brings a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
Over the next five years, LPI(LP Information) projects that Wrist Watch will register a 6.3% CAGR in terms of revenue, reach US$ 64300 million by 2023, from US$ 47400 million in 2017.
Global Wrist Watch Market: Key Players
Swatch Group
Rolex
Richemont
LVMH
Fossil
Citizen
Seiko
Patek Philippe
Casio
Chopard
Audemars Piguet
Movado Group
Kering
Breitling
Franck Muller
Folli Follie
Festina
Morellato & Sector
Time Watch
Fiyta
Rossini
Ebohr
Sea-Gull
Rarone
Geya
Poscer
Golgen
Movebest
Polaris
Tianba
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Related Information:
United States Wrist Watch Market Research Report 2018
Europe Wrist Watch Market Research Report 2018
North America Wrist Watch Market Research Report 2018
Asia-Pacific Wrist Watch Market Research Report 2018
China Wrist Watch Market Research Report 2018
EMEA Wrist Watch Market Research Report 2018
Global Wrist Watch Market Research Report 2018
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