Luxury Watches Market Set to Reach USD 61.19 Bn by 2032 with Steady 4.5% CAGR Growth - PMR Report

According to Persistence Market Research, the global luxury watches market is poised for significant growth, projected to rise from USD 45,007.0 million in 2025 to USD 61,190.1 million by 2032, representing a compound annual growth rate (CAGR) of 4.5%.

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Market Outlook & Key Drivers

The luxury watches sector is gaining momentum, thanks to several converging trends. Rising disposable incomes-especially in emerging markets-are enabling more affluent consumers to invest in high-end timepieces. At the same time, a growing number of buyers view luxury watches not merely as accessories, but also as status symbols and investment assets.

Furthermore, major watchmakers are leveraging heritage craftsmanship, technological innovation, and design sophistication to appeal to both traditional collectors and new-age consumers. The focus on limited editions, high complications, premium materials and boutique experience also strengthens differentiation and brand desirability.

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Market Segmentation

By Mechanism
• Mechanical
• Quartz
• Electronics
By Price Range
• Below US$ 10000
• US$ 10000-25000
• Above 25000
By Purchase Type
• New
• Pre-owned
By Distribution Channel
• Online Store
• Single Brand Store
• Multi-Brand Store
By Region
• North America
• Europe
• East Asia
• South Asia & Oceania
• Latin America
• Middle East and Africa

Regional Insights

Europe continues to be a stronghold for luxury watchmaking, anchored by excellence in craftsmanship, premium brand heritage and an established retail ecosystem. Meanwhile, East Asia stands out as a key growth region thanks to a rising affluent class, appreciation for fine horology, and strategic boutique expansions by leading brands.

Challenges & Opportunities

While growth prospects remain promising, the market is not without challenges. Counterfeit timepieces remain a persistent problem, undermining brand reputation, eroding consumer trust and impacting legal revenues. Advanced anti-counterfeiting measures and tighter controls are increasingly critical.

On the opportunity side, the authenticated pre-owned and resale market is emerging as a valuable growth avenue. Brands that embrace certified resale programs can attract younger buyers, tap investment-driven demand and build long-term engagement. This secondary market dynamic is enabling new revenue models and reinforcing the value proposition of luxury watches.

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Implications for Stakeholders

• Manufacturers and brands should continue to invest in innovation (materials, mechanics, design) and bolster omnichannel presence-especially digital and boutique experiences-to capture evolving consumer behaviour.
• Retailers and e-commerce platforms must ensure authenticity, premium service, and immersive brand storytelling to justify the high-end positioning.
• Investors and collectors may view luxury watches as both lifestyle assets and investment vehicles. With the market expected to grow steadily until 2032, making informed purchase decisions with brand, provenance and resale potential in mind will be critical.
• Emerging market players (such as in Asia and the Middle East) are likely to be among the growth engines; brands that localise product offerings and retail experiences may see competitive advantage.

Conclusion

The luxury watches market is on a solid trajectory, expanding from approximately USD 45 billion in 2025 to around USD 61 billion by 2032. With a CAGR of 4.5%, this sector offers both steady growth and meaningful shifts in consumer attitude-towards watches as coveted objects and investment pieces. As the interplay of heritage, digitalization, and global affluence deepens, the winners will be those that can stay authentic to luxury credentials while embracing modern consumer dynamics.

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

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