PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1106201
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1106201
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Global Watches and Clocks Market to Reach $73.4 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Watches and Clocks estimated at US$60.5 Billion in the year 2020, is projected to reach a revised size of US$73.4 Billion by 2027, growing at aCAGR of 2.8% over the period 2020-2027. Quartz, one of the segments analyzed in the report, is projected to record 2.3% CAGR and reach US$48.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Mechanical segment is readjusted to a revised 3.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $12.3 Billion, While China is Forecast to Grow at 4% CAGR
The Watches and Clocks market in the U.S. is estimated at US$12.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.9 Billion by the year 2027 trailing a CAGR of 4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.
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