North America Luxury Watch Market Report and Forecast 2025-2034
Description
The North America luxury watch market was valued at USD 9.01 Billion in 2024. The industry is expected to grow at a CAGR of 3.70% during the forecast period of 2025-2034 to attain a valuation of USD 12.96 Billion by 2034.
North America Luxury Watch Market Outlook
In February 2024, Hublot, renowned for its daring and oversized timepieces, introduced a limited-edition watch named the MP-10 Tourbillon Weight Energy System, priced at $250,000.
The United States watch market is projected to reach $17.80 billion by the year 2026.
27% of affluent consumers in the United States have reported buying luxury watches.
North America Luxury Watch Market Growth
15% of Americans purchased luxury products for themselves in 2023. The most popular luxury products bought by American luxury retail shoppers in 2023 were shoes (40%), followed by accessories (35%), beauty products (35%), and electronic devices (32%). Over 25% of customers in the country purchased watches and fragrances.
The increasing demand for high-end and branded products, fuelled by the pursuit of excellence, uniqueness, and brand prestige, contributes to the market's success. Premium watches are frequently regarded as valuable investments that can gain value over time, drawing in collectors and investors.
The second-hand luxury watch market also has seen substantial growth in recent years, offering lower price points compared to new models. This accessibility has attracted a wider range of consumers aspiring to own luxury timepieces. Bezel, a secondhand watch marketplace, reported that sales of luxury watches increased by approximately 75% month-over-month in 2022. Millennials and Gen Z make up about 60% of Bezel's buyers, with a 50% month-over-month rise in female buyers.
Advancements in watchmaking techniques, including cutting-edge materials and enhanced mechanisms, elevate the allure of luxury timepieces. Celebrity endorsements and social media influencers play a key role in elevating brand recognition and desirability, particularly among younger consumers. Moreover, the rise of online shopping platforms broadens the market's scope by making luxury watches more accessible to a broader audience.
North America Luxury Watch Industry Segmentation
“North America Luxury Watch Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product:
Electronic
Mechanical
Market Breakup by Distribution Channel:
Online
Offline
Market Breakup by Country:
United States of America
Canada
North America Luxury Watch Market Share
Based on the distribution channel, the market is segmented into online and offline. The online segment is projected to grow at a CAGR of 4.2% during the forecast period of 2025-2034. Luxury watches are distributed online through a variety of channels, including brand websites, authorised retailers, online marketplaces, specialised e-tailers, social media, subscription services, and online auctions. These channels provide brands with numerous opportunities to engage with their target audience, ensuring a luxurious and seamless shopping experience for customers.
Leading Companies in the North America Luxury Watch Market
Major players are focusing on the adoption of technological advancements and the production of smart luxury watches to gain a competitive edge in the market.
ROLEX SA
The Swatch Group Ltd.
Bremont Watch Company Limited
Breitling SA
LVMH Moët Hennessy Louis Vuitton SE
Seiko Watch Corporation
Audemars Piguet
Richard Mille Group
Movado Group Inc.
Bell & Ross SARL
Others
North America Luxury Watch Market Outlook
In February 2024, Hublot, renowned for its daring and oversized timepieces, introduced a limited-edition watch named the MP-10 Tourbillon Weight Energy System, priced at $250,000.
The United States watch market is projected to reach $17.80 billion by the year 2026.
27% of affluent consumers in the United States have reported buying luxury watches.
North America Luxury Watch Market Growth
15% of Americans purchased luxury products for themselves in 2023. The most popular luxury products bought by American luxury retail shoppers in 2023 were shoes (40%), followed by accessories (35%), beauty products (35%), and electronic devices (32%). Over 25% of customers in the country purchased watches and fragrances.
The increasing demand for high-end and branded products, fuelled by the pursuit of excellence, uniqueness, and brand prestige, contributes to the market's success. Premium watches are frequently regarded as valuable investments that can gain value over time, drawing in collectors and investors.
The second-hand luxury watch market also has seen substantial growth in recent years, offering lower price points compared to new models. This accessibility has attracted a wider range of consumers aspiring to own luxury timepieces. Bezel, a secondhand watch marketplace, reported that sales of luxury watches increased by approximately 75% month-over-month in 2022. Millennials and Gen Z make up about 60% of Bezel's buyers, with a 50% month-over-month rise in female buyers.
Advancements in watchmaking techniques, including cutting-edge materials and enhanced mechanisms, elevate the allure of luxury timepieces. Celebrity endorsements and social media influencers play a key role in elevating brand recognition and desirability, particularly among younger consumers. Moreover, the rise of online shopping platforms broadens the market's scope by making luxury watches more accessible to a broader audience.
North America Luxury Watch Industry Segmentation
“North America Luxury Watch Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product:
Electronic
Mechanical
Market Breakup by Distribution Channel:
Online
Offline
Market Breakup by Country:
United States of America
Canada
North America Luxury Watch Market Share
Based on the distribution channel, the market is segmented into online and offline. The online segment is projected to grow at a CAGR of 4.2% during the forecast period of 2025-2034. Luxury watches are distributed online through a variety of channels, including brand websites, authorised retailers, online marketplaces, specialised e-tailers, social media, subscription services, and online auctions. These channels provide brands with numerous opportunities to engage with their target audience, ensuring a luxurious and seamless shopping experience for customers.
Leading Companies in the North America Luxury Watch Market
Major players are focusing on the adoption of technological advancements and the production of smart luxury watches to gain a competitive edge in the market.
ROLEX SA
The Swatch Group Ltd.
Bremont Watch Company Limited
Breitling SA
LVMH Moët Hennessy Louis Vuitton SE
Seiko Watch Corporation
Audemars Piguet
Richard Mille Group
Movado Group Inc.
Bell & Ross SARL
Others
Table of Contents
124 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Luxury Watch Market Overview
- 5.1 Key Industry Highlights
- 5.2 Global Luxury Watch Historical Market (2018-2024)
- 5.3 Global Luxury Watch Market Forecast (2025-2034)
- 5.4 Global Luxury Watch Market Share by Region
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 North America Luxury Watch Market Overview
- 6.1 Key Industry Highlights
- 6.2 North America Luxury Watch Historical Market (2018-2024)
- 6.3 North America Luxury Watch Market Forecast (2025-2034)
- 7 North America Luxury Watch Market by Product
- 7.1 Electronic
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Mechanical
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 North America Luxury Watch Market by Distribution Channel
- 8.1 Offline
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Online
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 North America Luxury Watch Market by Country
- 9.1 United States of America
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Canada
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators of Demand
- 10.4 Key Indicators of Price
- 11 Competitive Landscape
- 11.1 Supplier Selection
- 11.2 Key Global Players
- 11.3 Key Regional Players
- 11.4 Key Player Strategies
- 11.5 Company Profiles
- 11.5.1 ROLEX SA
- 11.5.1.1 Company Overview
- 11.5.1.2 Product Portfolio
- 11.5.1.3 Demographic Reach and Achievements
- 11.5.1.4 Certifications
- 11.5.2 The Swatch Group Ltd.
- 11.5.2.1 Company Overview
- 11.5.2.2 Product Portfolio
- 11.5.2.3 Demographic Reach and Achievements
- 11.5.2.4 Certifications
- 11.5.3 Bremont Watch Company Limited
- 11.5.3.1 Company Overview
- 11.5.3.2 Product Portfolio
- 11.5.3.3 Demographic Reach and Achievements
- 11.5.3.4 Certifications
- 11.5.4 Breitling SA
- 11.5.4.1 Company Overview
- 11.5.4.2 Product Portfolio
- 11.5.4.3 Demographic Reach and Achievements
- 11.5.4.4 Certifications
- 11.5.5 LVMH Moët Hennessy Louis Vuitton SE
- 11.5.5.1 Company Overview
- 11.5.5.2 Product Portfolio
- 11.5.5.3 Demographic Reach and Achievements
- 11.5.5.4 Certifications
- 11.5.6 Seiko Watch Corporation
- 11.5.6.1 Company Overview
- 11.5.6.2 Product Portfolio
- 11.5.6.3 Demographic Reach and Achievements
- 11.5.6.4 Certifications
- 11.5.7 Audemars Piguet
- 11.5.7.1 Company Overview
- 11.5.7.2 Product Portfolio
- 11.5.7.3 Demographic Reach and Achievements
- 11.5.7.4 Certifications
- 11.5.8 Richard Mille Group
- 11.5.8.1 Company Overview
- 11.5.8.2 Product Portfolio
- 11.5.8.3 Demographic Reach and Achievements
- 11.5.8.4 Certifications
- 11.5.9 Movado Group Inc.
- 11.5.9.1 Company Overview
- 11.5.9.2 Product Portfolio
- 11.5.9.3 Demographic Reach and Achievements
- 11.5.9.4 Certifications
- 11.5.10 Bell & Ross SARL
- 11.5.10.1 Company Overview
- 11.5.10.2 Product Portfolio
- 11.5.10.3 Demographic Reach and Achievements
- 11.5.10.4 Certifications
- 11.5.11 Others
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