PUBLISHER: Grand View Research | PRODUCT CODE: 1869870
PUBLISHER: Grand View Research | PRODUCT CODE: 1869870
The global watches market size was estimated at USD 66.38 billion in 2024 and is projected to reach USD 96.81 billion by 2033, growing at a CAGR of 4.3% from 2025 to 2033. This growth can be attributed to the rising demand for premium and mid-range quartz and mechanical watches, driven by consumers seeking precision, craftsmanship, and stylish everyday timepieces.
A key trend in the global traditional watches industry is the rising popularity of compact, minimalist quartz watches that combine precision with everyday wear. Across regions, from Europe's stylish cities to Asia's urban millennials, consumers are increasingly choosing slimmer, versatile designs over bulky or purely mechanical models. This shows a global shift toward functional yet trendy timepieces.
A sustained consumer preference for classic craftsmanship and long-term value continues to drive growth in the traditional watch market. According to an article by Luxury Tribune, published in October 2025, 26% of consumers still wear traditional watches. Furthermore, purchasing intentions remain robust, with 54% of respondents planning to buy a mechanical or quartz watch within the next year. This strong purchase intent reflects the enduring appeal of traditional timepieces as symbols of personal identity, heritage, and status. Many consumers view these watches not only as functional accessories but also as collectible assets that retain emotional and resale value over time, which continues to support steady demand across both mid-range and luxury price segments.
Beyond affordability, functionality, and product quality have become decisive purchase drivers in the traditional watches market, particularly in value-focused regions. According to a 2025 analysis by Clootrack based on 10,691 consumer surveys in India, daily usability emerged as the top factor influencing adoption, indicating that consumers prefer watches suitable for regular wear rather than purely fashion-led accessories. Warranty expectations ranked second, with buyers demanding a minimum of 1-2 years of coverage as a measure of long-term reliability. The study also highlighted that competitive pricing within the affordable-to-mid range, design that reflects personal style, and durability features such as strap strength and water resistance significantly influence brand preference. This suggests that consumers now evaluate watches as a balance of practicality, aesthetics, and value rather than price alone.
Emerging markets are becoming a key demand driver for the traditional watch industry as rising disposable incomes fuel aspirational purchasing. According to an article by Luxury Tribune published in October 2025, India's watch imports grew nearly 7% between January and August 2025 and approximately 30% over the past two years, reflecting sustained consumer appetite for international brands.
JCK Online reported in October 2025 that 62% of consumers in Mexico are considering the purchase of a traditional watch, positioning Latin America as another growth market. At the same time, global trade policies are reshaping pricing and supply strategies; JCK Online noted that a 39% tariff on Swiss watch imports into the U.S. took effect in August 2025, prompting brands such as Rolex and Patek Philippe to implement price increases, which has introduced pricing uncertainty and moderated near-term demand in the U.S. watches market.
Global Watches Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2033. For the purpose of this study, Grand View Research has segmented the global watches market report based on type, price range, end user, distribution channel, and region: