Japan Luxury Watch Market Size & Outlook, 2023-2030
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Japan luxury watch market highlights
- The Japan luxury watch market generated a revenue of USD 1,758.7 million in 2023 and is expected to reach USD 2,400.6 million by 2030.
- The Japan market is expected to grow at a CAGR of 4.5% from 2024 to 2030.
- In terms of segment, electronic was the largest revenue generating product in 2023.
- Mechanical is the most lucrative product segment registering the fastest growth during the forecast period.
Luxury watch market data book summary
| Market revenue in 2023 | USD 1,758.7 million |
| Market revenue in 2030 | USD 2,400.6 million |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Electronic |
| Fastest growing segment | Mechanical |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electronic, Mechanical |
| Key market players worldwide | Apple Inc, The Swatch Group AG, Fossil Group Inc, Citizen Watch Co Ltd, Compagnie Financiere Richemont SA ADR, Lvmh Moet Hennessy Louis Vuitton SE, Movado Group Inc, Ralph Lauren Corp Class A, Emperor Watch & Jewellery Ltd, Seiko |
Other key industry trends
- In terms of revenue, Japan accounted for 3.9% of the global luxury watch market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China luxury watch market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 13,773.5 million by 2030.
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Luxury Watch Market Scope
Luxury Watch Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Seiko | View profile | 501-1000 | Mahwah, New Jersey, United States, North America | https://www.seikowatches.com/global-en/company |
| Emperor Watch & Jewellery Ltd | View profile | 777 | 288 Hennessy Road, 25th Floor, Emperor Group Centre, Wanchai, Hong Kong, Hong Kong | https://www.emperorwatchjewellery.com |
| Ralph Lauren Corp Class A | View profile | 23400 | 650 Madison Avenue, New York, NY, United States, 10022 | https://www.ralphlauren.com |
| Movado Group Inc | View profile | 1476 | 650 From Road, Suite 375, Paramus, NJ, United States, 07652-3556 | https://www.movadogroup.com |
| Compagnie Financiere Richemont SA ADR | View profile | 37117 | 50, Chemin de la Chenaie, CP 30, Bellevue, Geneva, Switzerland, 1293 | https://www.richemont.com |
| Citizen Watch Co Ltd | View profile | 15402 | 6-1-12, Tanashi-cho, Nishi Tokyo-shi, Tokyo, Japan, 188-8511 | https://www.citizen.co.jp |
| The Swatch Group AG | View profile | 33602 | Seevorstadt 6, P.O Box 1232, Bienne, Switzerland, 2501 | https://www.swatchgroup.com |
| Fossil Group Inc | View profile | 6100 | 901 S. Central Expressway, Richardson, TX, United States, 75080 | https://www.fossilgroup.com |
| Lvmh Moet Hennessy Louis Vuitton SE | View profile | 192346 | 22, Avenue Montaigne, Paris, France, 75008 | https://www.lvmh.com |
| Apple Inc | View profile | 161000 | One Apple Park Way, Cupertino, CA, United States, 95014 | https://www.apple.com |
Japan luxury watch market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to luxury watch market will help companies and investors design strategic landscapes.
Electronic was the largest segment with a revenue share of 62.29% in 2023. Horizon Databook has segmented the Japan luxury watch market based on electronic, mechanical covering the revenue growth of each sub-segment from 2018 to 2030.
Japan is the home for some of the best and authentic wristwatch maker such as Seiko Watch Corporation and it is best known for the electronic and luxury watches market. Moreover, Japan is one of the major tourist destinations in the Asia Pacific, with millions of foreign tourists visiting Japan every year.
According to the statistics provided by the ‘Japan National Tourism Organization’ (JNTO), in 2018, 31.2 million foreign tourist visited Japan. Such large foreign tourist visits open new avenue for the luxury watch market in the country.
For instance, in October 2018, Seiko Watch Corporation announced to establishment of a new company ‘Grand Seiko Corp. of America’ (GSA) which will cater the luxury watch segment in the U.S.
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Our clientele includes a mix of luxury watch market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Japan luxury watch market , including forecasts for subscribers. This country databook contains high-level insights into Japan luxury watch market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan luxury watch market size, by product, 2018-2030 (US$M)
Japan Luxury Watch Market Outlook Share, 2023 & 2030 (US$M)
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