Mechanical Watch Market Product, Price Range, Distribution Channel, End User, Key Players: Rolex, Tag Heuer, IWC, Omega, Patek Philippe, Tudor, Rado

Mechanical Watch Market study analyzes the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis. This research report encompasses different industry verticals such as company profile, contact details of manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company. Various parameters covered in this Mechanical Watch Market research report helps businesses for better decision making. Strategically analyzed facts and figures of the market and keen business insights in this Mechanical Watch Market report would be a key aspect in achieving enduring business growth.

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The global Mechanical Watch Market size is projected to reach a CAGR of 6.2% from 2022-2028. Mechanical Watch Market by Product (Mechanical, Quartz, Digital [Smartwatches, Others]), By Price Range (Low Range, Mid-Range, Luxury), By Distribution Channel (Retail Stores, Online Stores), End User (men and women) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

Mechanical Watch Market Competitive landscape

Rolex
Tag Heuer
IWC
Omega
Patek Philippe
Tudor
Blancpain
Panerai
JLC
Cartier
Richard Mille
Piaget
Chopard
Hublot
Breitling
Rado

Recent Developments

September 23, 2021-Fossil has launched its new Gen 6 smartwatch in India. The fashion watch and accessories company say there is a price segment that is driven by "fashion watches" and that is where Gen 6 smartwatch fits in. The Gen 6 smartwatch is priced between Rs 23,995 and Rs 24,995.

June 14, 2021- For 2021, they have unveiled an incredible selection of new designs and many Seiko limited editions in celebration of their 140th anniversary. In particular, we've seen many new pieces from their legendary Prospex diver's collection alongside several Seiko Presage references.

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Mechanical Watch Market Key Findings

The product segment is further segmented into quartz and digital. The majority stake in mechanical watches for the forecast period is that of the quartz watch. Watches that employ the quartz movement have fewer moving parts making them more reliable and easier to produce. They are also more precise than the mechanical movement watches and also require less labour to produce. These quartz watches also have much more aesthetic features similar to those found in digital watches and further help in driving the market for quartz watches in the global watch market.

The price range segment is further fragmented into low range, mid-range, and luxury segments. Low range watches are extremely versatile for the price point at which they are offered. This particular niche allows a buyer to buy multiple watches for different occasions and outfits and use them according to their fashion needs. The way these low range watches are used is more as a fashion accessory rather than a typical watch. The large variety of watches available in this range combined with aforementioned factors lead to this segment holding a giant chunk of the market.

The distribution channel segment is further bifurcated into online stores and retail stores. Retail stores are expected to hold the lion's share of the wrist watch market. Retail stores such as hypermarkets and specialty stores have been the preferred mode of purchase as they allow consumers to physically inspect the watch before purchasing. Retail stores offer customer loyalties and often have discounts that make them ideal for consumers. The online segment is expected to grow faster than the retail segment. The growing e-commerce industry across the globe has increased accessibility for various brands into more regions. Online stores often have a greater number of brands and models than a brick-and-mortar stores. The ease of access and offerings such as same-day delivery is expected to be the major drivers of the online segment.

The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The North American region is expected to hold the largest share of the mechanical watch market during the forecast period. The presence of key players of the industry in the region, technological innovations in the region, and the large purchasing power of the region have been the major contributors to the dominance of the region.

Regional Analysis

North America to Dominate the Market

The North American region is expected to hold the largest share of the mechanical watch market during the forecast period. The presence of key players of the industry in the region, technological innovations in the region, and the large purchasing power of the region have been the major contributors to the dominance of the region.
The APAC region is envisaged to become the fastest-growing region for mechanical watches during the forecast period. Increased manufacturing in countries like China and India is expected to have a positive impact on the demand for watches in the region.

COVID 19 impact has hampered the Watch Market somewhere, just like any other sector in the world. Similar to the other industry, the demand for sales is reduced day by day that forced the global market to adopt the new technologies and sales strategy. In this way, the market has adopted the new marketing strategy and developed practices that increase the sales rate. By adopting these developments, the market has able to reach its targeted audience. Because of the covid19, the market has disrupted the growth of the supply chain which impacts the financial aspect of the industry.

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