Mechanical Watch Market Report 2025 (Global Edition)

Global Mechanical Watch Market Report 2025 Market Size Split by Movement Type Outlook: (Automatic, Manual), by Strap Material Outlook: (Leather, Stainless Steel, Nylon, Rubber, Others), by Case Size O...

Mechanical Watch Market Report Description

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Imapct of Trumph Tariff on Electronics and Electrical Industry

In 2025, global trade has entered a period of renewed volatility as the U.S., under President Donald Trump, introduced sweeping tariffs known as the Liberation Day Tariffs. Aimed at addressing trade imbalances and foreign supply chain dominance, the tariffs range from 10% on allies like Australia and the UK to 46% on Vietnamese goods and 34% on Chinese imports. A 25% universal tariff on steel, aluminum, and auto parts has further strained global trade ties. The electronics sector is among the hardest hit, particularly due to the escalating U.S.China trade war. Tariffs on Chinese goods now reach up to 145% in sectors like semiconductors and consumer electronics, while China has retaliated with up to 125% duties and restrictions on critical mineral exports. This has disrupted just-in-time supply chains and increased component costs.

Specific tariffs include 25% on semiconductors, 20% on lithium-ion batteries, and 10–15% on consumer electronics like laptops and tablets, leading to higher retail prices and reduced consumer demand. Sub-sectors such as home automation, computer hardware, communication electronics, medical devices, and industrial electronics are all under pressure due to rising input costs and supply chain delays. Companies are revisiting suppliers, shifting sourcing to countries like India, Mexico, and Vietnam, and redesigning products to avoid high-tariff components.

China remains a key player, contributing USD 119 billion in electronics exports to the U.S. in 2023. Even components routed through countries like Malaysia and Vietnam often rely on Chinese subparts, making the ripple effect of tariffs widespread. U.S. electronics firms operating on thin margins are seeing input costs rise 18–25%, with contract manufacturers in alternative regions facing capacity constraints.

Market research is now critical. It helps companies identify new suppliers, analyze cost trends, optimize product design, forecast demand shifts, and track regulatory changes. Tools like supplier mapping, BOM optimization, and scenario planning support strategic responses to ongoing disruptions. Leading firms like Apple and Dell are expanding production outside China, while others invest in digital supply chain tools and redesign products for cost resilience. In this evolving trade environment, firms that leverage research-driven strategies are better positioned to adapt and thrive.

Mechanical Watch Market Insights Video

Competitive Landscape of the Mechanical Watch Market

The competitive landscape of the mechanical watch market is shaped by a blend of established luxury brands and emerging independent watchmakers, each vying for market share in a highly segmented space. Traditional Swiss manufacturers dominate the high-end and ultra-luxury segments, focusing on heritage, exclusivity, and intricate craftsmanship that appeal to affluent and discerning consumers. These brands compete by emphasising limited editions, unique designs, and innovation in mechanical movements, appealing to collectors and enthusiasts.

In June 2024, Swatch introduced three new Bioceramic MoonSwatch watches. These three new non-limited Bio ceramic MoonSwatch models, which feature mission on earth lava, arctic lights, and desert, pay tribute to our elegant planet. (Source: https://www.swatch.com/en-US/press/collection/the-bioceramic-moonswatch-collection-showcases-earth-from-space) In April 2024, IWC Schaffhausen unveiled its new Portugieser series at Watches and Wonders in Geneva. The Portugieser series features the new Portugieser Perpetual Calendar 44, Portugieser Automatic 42, Portugieser Automatic 40, and Portugieser Chronograph. All watches in the new Portugieser series have intricately made dials that are coated with 15 layers of transparent lacquer and powered by IWC movements. (Source: https://press.iwc.com/a-tribute-to-eternity-new-portugieser-collection-watches-and-wonders-geneva-en/) In April 2024, Hermès is expanding its watch collection with a new integrated bracelet sport watch for women (or anyone who prefers 36mm watches). It is available in steel, two-tone steel, and rose, with or without diamonds, and with a bracelet or rubber strap. (Source: https://www.hodinkee.com/articles/hermes-launches-the-cut-a-sport-watch-for-women) In March 2024, RGM announced the Model 500-WT World-Time, a sports watch with a 24-hour GMT hand and World-Time bezel that can also be used for travelling. The watch features two case-back gaskets, a 2mm thick sapphire crystal, and a high-quality screw-down crown to ensure its durability. (Source: https://www.rgmwatches.com/rgmblog/2024/3/13/rgm-introduces-the-model-500-wt-world-time#:~:text=The%20classically%20detailed%20Model%20500,%2Dquality%20screw%2Ddown%20crown.)

Top Companies Market Share in Mechanical Watch Industry: (In no particular order of Rank)

• Rolex SA (Switzerland)
• Patek Philippe SA (Switzerland)
• Audemars Piguet (Switzerland)
• Omega SA (Switzerland)
• Vacheron Constantin (Switzerland)
• Jaeger-LeCoultre (Switzerland)
• Breitling SA (Switzerland)
• IWC Schaffhausen (Switzerland)
• TAG Heuer (Switzerland)
• A. Lange & Söhne (Germany)
• Seiko Holdings Corporation (Japan)
• Citizen Watch Co.
• Ltd. (Japan)
• Zenith (Switzerland)
• Hublot (Switzerland)
• Cartier (France)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Mechanical Watch Market

Which Region Dominates the Mechanical Watch Market in 2024?

According to Cognitive Market Research, North America currently dominates the mechanical watch market due to higher disposable incomes, strong demand for luxury goods, and a growing consumer base that values craftsmanship and heritage. This region is home to a significant number of affluent consumers who view mechanical watches not just as timepieces but as status symbols and investment assets. Besides, the U.S. has a well-established market for luxury watches, with major retail hubs and high-end boutiques catering to both collectors and enthusiasts.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the global mechanical watch market, owing to the rising disposable incomes, a growing middle class, and an expanding base of luxury consumers, particularly in countries like China, Japan, and India. In recent years, there has been a heightened interest in luxury goods and premium lifestyle products among affluent individuals in these markets. The expansion of retail networks and luxury brand presence across major cities in the region also supports this rapid market growth trajectory.

The current report Scope analyzes Mechanical Watch Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Mechanical Watch Market Analysis

According to Cognitive Market Research, the global mechanical watch market size was estimated at USD 61025.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 24410.1 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

• According to Cognitive Market Research, the U.S. had a major share in the mechanical watch market with a market size of USD 19259.6 million in 2024 and is projected to grow at a CAGR of 3.5% in the forecast period. The mechanical watch market in the U.S. is experiencing growth due to a growing appreciation for craftsmanship and heritage among consumers, particularly in the luxury watch sector.
• The Canada mechanical watch market had a market share of USD 2929.2 million in 2024 and is projected to grow at a CAGR of 4.5% over the forecast period. The rise in disposable income, coupled with a strong preference for fine craftsmanship and quality, is helping boost market demand in Canada, particularly in urban centres like Toronto and Vancouver.
• The Mexico mechanical watch market is projected to witness growth at a CAGR of 4.2% in the forecast period, with a market size of USD 2221.3 million in 2024.

Europe Mechanical Watch Market Analysis

According to Cognitive Market Research, the global mechanical watch market size was estimated at USD 61025.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 18307.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4% from 2024 to 2031.

• The United Kingdom mechanical watch market had a market share of USD 3075.7 million in 2024 and is projected to grow at a CAGR of 4.8% over the forecast period. The U.K. market for mechanical watches benefits from a deep-rooted tradition of watchmaking and a strong collector base.
• The France mechanical watch market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 1684.3 million in 2024.
• According to Cognitive Market Research, the German mechanical watch market size was valued at USD 3624.9 million in 2024 and is projected to grow at a CAGR of 4.2% over the forecast period. German consumers are increasingly attracted to mechanical watches for their reliability, design, and durability, with a strong demand for brands that emphasise innovation alongside traditional watchmaking techniques.
• The Italy mechanical watch market is projected to witness growth at a CAGR of 3.4% within the forecast period, with a market size of USD 1574.5 million in 2024.
• The Russian mechanical watch market is projected to witness growth at a CAGR of 3% during the forecast period, with a market size of USD 2837.7 million in 2024.
• The Spain mechanical watch market is projected to witness growth at a CAGR of 3.1% during the forecast period, with a market size of USD 1501.2 million in 2024.
• The Luxembourg mechanical watch market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 567.5 million in 2024.
• The Portugal mechanical watch market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 384.5 million in 2024.
• The Greece mechanical watch market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 219.7 million in 2024.
• The Rest of the European mechanical watch market is projected to witness growth at a CAGR of 2.7% in the forecast period, with a market size of USD 2837.7 million in 2024.

Asia Pacific Mechanical Watch Market Analysis

According to Cognitive Market Research, the global mechanical watch market size was estimated at USD 61025.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 14035.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

• According to Cognitive Market Research, the China mechanical watch market size was valued at USD 6316.1 million in 2024 and is projected to grow at a CAGR of 7% over the forecast period. Chinese consumers are showing a rising interest in Swiss and other high-end international brands, with an increasing preference for mechanical watches as both fashion accessories and investment pieces.
• The Japan mechanical watch market is projected to witness growth at a CAGR of 6% during the forecast period, with a market size of USD 1936.9 million in 2024.
• The India mechanical watch market had a market share of USD 1684.3 million in 2024 and is projected to grow at a CAGR of 9.3% over the forecast period. In India, the mechanical watch market is expanding rapidly due to the increasing wealth of the middle class and a growing affinity for luxury goods.
• The South Korean mechanical watch market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 1403.6 million in 2024.
• The Australian mechanical watch market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 729.9 million in 2024.
• The South East Asia mechanical watch market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 968.5 million in 2024.
• The Rest of Asia Pacific mechanical watch market is projected to witness growth at a CAGR of 7.3% in the forecast period, with a market size of USD 996.5 million in 2024.

South America Mechanical Watch Market Analysis

According to Cognitive Market Research, the global mechanical watch market size was estimated at USD 61025.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 3051.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil mechanical watch market size was valued at USD 1305.9 million in 2024 and is projected to grow at a CAGR of 5.5% over the forecast period. Brazilian consumers are actively willing to pay a premium for quality craftsmanship, with a strong interest in Swiss-made mechanical watches and limited-edition models.
• Argentina mechanical watch market had a market share of USD 512.6 million in 2024 and is projected to grow at a CAGR of 5.8% in the forecast period. In Argentina, the mechanical watch market is rapidly growing as the expanding middle class seeks to invest in luxury items as symbols of success and achievement.
• Colombia mechanical watch market is projected to witness growth at a CAGR of 4.7% over the forecast period, with a market size of USD 271.6 million in 2024.
• Peru mechanical watch market is projected to witness growth at a CAGR of 5.1% during the forecast period, with a market size of USD 250.2 million in 2024.
• Chile mechanical watch market is projected to witness growth at a CAGR of 5.2% in the forecast period, with a market size of USD 219.7 million in 2024.
• The Rest of the Latin American mechanical watch market is projected to witness growth at a CAGR of 4% over the forecast period, with a market size of USD 491.3 million in 2024.

Middle East Mechanical Watch Market Analysis

According to Cognitive Market Research, the global mechanical watch market size was estimated at USD 61025.2 Million, out of which the Middle East & Africa held the major market share of around 2% of the global revenue with a market size of USD 1220.5 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

• The GCC Countries mechanical watch market is projected to witness growth at a CAGR of 6% during the forecast period, with a market size of USD 522.4 million in 2024. The mechanical watch market in the GCC countries (Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman) is thriving due to high disposable incomes, a deep appreciation for luxury goods, and an established culture of gifting high-end watches.
• The Egypt mechanical watch market is projected to witness growth at a CAGR of 5.5% over the forecast period, with a market size of USD 128.2 million in 2024.
• The South African mechanical watch market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 192.8 million in 2024. The rising affluent consumer base in South Africa, especially in Johannesburg and Cape Town, is seeking to invest in premium, precision-engineered timepieces as symbols of status and success.
• The Turkey mechanical watch market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 105 million in 2024.
• The Nigeria mechanical watch market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 128.2 million in 2024.
• The Rest of the MEA mechanical watch market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 144 million in 2024.

Mechanical Watch Market Analysis

How are Segments Performing in the Global Mechanical Watch Market?

Mechanical Watch Market Movement Type Segment Analysis

According to Cognitive Market Research, manual mechanical watches, which require the wearer to wind the crown periodically, are experiencing a resurgence as a fast-growing market category. These watches appeal to enthusiasts who appreciate the ritual and connection involved in maintaining their timepieces. With the rise in vintage and heritage trends, manual-winding watches are gaining popularity as they embody the essence of traditional watchmaking. This growing interest is particularly strong among collectors and younger consumers who value craftsmanship and authenticity over convenience.

Automatic mechanical watches, often referred to as ‘self-winding’ watches, lead the movement type segment within the mechanical watch market. These watches operate by harnessing kinetic energy from the wrist movements of the wearer, which powers the mechanism without the need for manual winding. This convenience has made automatic watches highly popular among consumers, as they combine the traditional appeal of a mechanical watch with greater ease of use. The automatic segment is particularly favoured in the luxury and premium categories, as it represents a blend of innovation and tradition.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Mechanical Watch Industry. Request a Free Sample PDF!

Mechanical Watch Market Strap Material Segment Analysis

According to Cognitive Market Research, leather straps are the dominant segment in the mechanical watch market, valued for their classic appeal, versatility, and comfortable wear. Leather straps provide a refined look that complements the luxury and sophistication of mechanical watches, which makes them especially popular in formal and business settings.

Stainless steel straps are a rapidly developing category within the mechanical watch market, owing to their durability, modern aesthetic, and suitability for both casual and formal occasions. Stainless steel straps offer a robust alternative to leather, appealing to consumers seeking a sleek, low-maintenance option that withstands daily wear.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Mechanical Watch Case Size Outlook: Segment Analysis

How are Segments Performing in the Global Mechanical Watch Market?

Mechanical Watch Market Case Size Segment Analysis

According to Cognitive Market Research, the 40 mm - 45 mm case size segment is the fastest-growing category in the mechanical watch market, owing to shifting consumer preferences toward larger, more statement-making timepieces. This size range offers a bolder look and is increasingly favoured in sports and casual watch designs, which emphasise visibility and impact. This growth is particularly noticeable in the luxury market, where brands are expanding their offerings in this size to cater to evolving tastes.

The 35 mm - 40 mm case size segment holds the majority share in the mechanical watch market due to its balance between traditional design and modern preferences. This size range has long been favoured for its versatile and classic proportions, making it suitable for a wide range of wrist sizes and appealing to both men and women. The popularity of this case size persists due to its suitability for various styles and its ability to maintain a classic aesthetic while catering to a broad consumer base.

• Up to 35 mm
• 35 mm - 40 mm
• 40 mm - 45 mm
• Above 45 mm

Mechanical Watch Shape Outlook: Segment Analysis

How are Segments Performing in the Global Mechanical Watch Market?

Mechanical Watch Market Shape Segment Analysis

According to Cognitive Market Research, the square shape is the highest developing segment within the mechanical watch market, gaining traction due to its modern, edgy design and appeal to consumers seeking unique timepieces. Square watches break away from the conventional round design, offering a more distinct and fashion-forward look. This category has seen growth, particularly in the luxury and fashion segments, as brands experiment with geometric shapes to attract younger, trend-conscious consumers.

The round shape remains the dominating category in the mechanical watch market due to its timeless and classic appeal. Round watches have been the traditional form for centuries and are widely regarded as the quintessential design for luxury and mechanical timepieces. This shape offers a versatile and symmetrical aesthetic that suits a wide variety of styles, from formal dress watches to sporty designs.

• Rectangular
• Round
• Square

Mechanical Watch Consumer Group Outlook: Segment Analysis

How are Segments Performing in the Global Mechanical Watch Market?

Mechanical Watch Market Consumer Group Segment Analysis

According to Cognitive Market Research, men's is the leading category in the mechanical watch market, accounting for the largest share due to the traditional association of mechanical watches with masculinity and luxury. Men’s watches, particularly those in the luxury and sports categories, have long been popular for their craftsmanship, durability, and status-symbol appeal.

The women’s segment in the mechanical watch market is rapidly developing, owing to increasing demand for elegant and functional timepieces designed specifically for women. Over the years, mechanical watches for women have evolved, offering smaller, more refined designs that blend luxury with style.

• Men
• Women
• Unisex

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

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