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The report covers Indian Watch Market Share By Brand and is Segmented by Product Type (Quartz Watch, Digital Watch, and Smart Watch); by Distribution Channel (Online Retail Stores and Offline Retail Stores); and by End User (Women, Men, and Unisex).2023 & 2024 India Watch market size report includes a forecast to 2029 and .The Luxury Watch Market is expected to reach USD 51.31 billion in 2024 and .Of these major brands, Titan has dominated the market for nearly a decade, commanding close to 40% share of the overall Indian wristwatch segment. Rado also stood in 2nd place after Rolex .
The new trade agreement between Switzerland and India will significantly enhance market access for Swiss watches by reducing custom duties over the next seven years. This presents an .The report covers Indian Watch Market Share By Brand and is Segmented by Product Type (Quartz Watch, Digital Watch, and Smart Watch); by Distribution Channel (Online Retail Stores and Offline Retail Stores); and by End User (Women, Men, and Unisex).
Of these major brands, Titan has dominated the market for nearly a decade, commanding close to 40% share of the overall Indian wristwatch segment. Rado also stood in 2nd place after Rolex for a market in India.The new trade agreement between Switzerland and India will significantly enhance market access for Swiss watches by reducing custom duties over the next seven years. This presents an immediate and attractive investment opportunity. However, regulatory complexities and further import duties remain,2023 & 2024 India Watch market size report includes a forecast to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.The Luxury Watch Market is expected to reach USD 51.31 billion in 2024 and grow at a CAGR of 5.84% to reach USD 68.17 billion by 2029. Rolex SA, The Swatch Group Ltd, Compagnie Financiere Richemont SA, Patek Philippe A and Audemars Piguet are the major companies operating in this market.
The Indian luxury watch market is valued at around billion annually and is dominated by premium Swiss brands like Rolex, Omega, Cartier, TAG Heuer, etc. The high import duties levied on finished watches aim to encourage localization of manufacturing while generating revenue for the government. The Federation of Swiss Watch Industry report says that exports to India went up by 61.7 per cent in 2021. Furthermore, a forecast report by Statista says the luxury goods market in India would be worth .52 billion in 2022. The ‘Luxury Watches & Jewellery’ segment is the largest contributor to this with a market volume of .21 billion.Revenue in the Luxury Watches & Jewelry market amounts to US.32bn in 2024. The market is expected to grow annually by 2.68% (CAGR 2024-2029).The wrist watch market in India was valued at INR 94.55 Bn in 2018, and is expected to reach INR 192.74 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~13.21%, during the forecast period (2019-2024).
In 2022, Rolex was the largest player in the global luxury watch market with almost one-third retail market share in the luxury watch industry. Other well-known Swiss brands Omega and Cartier.
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The report covers Indian Watch Market Share By Brand and is Segmented by Product Type (Quartz Watch, Digital Watch, and Smart Watch); by Distribution Channel (Online Retail Stores and Offline Retail Stores); and by End User (Women, Men, and Unisex).Of these major brands, Titan has dominated the market for nearly a decade, commanding close to 40% share of the overall Indian wristwatch segment. Rado also stood in 2nd place after Rolex for a market in India.
The new trade agreement between Switzerland and India will significantly enhance market access for Swiss watches by reducing custom duties over the next seven years. This presents an immediate and attractive investment opportunity. However, regulatory complexities and further import duties remain,
2023 & 2024 India Watch market size report includes a forecast to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.The Luxury Watch Market is expected to reach USD 51.31 billion in 2024 and grow at a CAGR of 5.84% to reach USD 68.17 billion by 2029. Rolex SA, The Swatch Group Ltd, Compagnie Financiere Richemont SA, Patek Philippe A and Audemars Piguet are the major companies operating in this market. The Indian luxury watch market is valued at around billion annually and is dominated by premium Swiss brands like Rolex, Omega, Cartier, TAG Heuer, etc. The high import duties levied on finished watches aim to encourage localization of manufacturing while generating revenue for the government.
The Federation of Swiss Watch Industry report says that exports to India went up by 61.7 per cent in 2021. Furthermore, a forecast report by Statista says the luxury goods market in India would be worth .52 billion in 2022. The ‘Luxury Watches & Jewellery’ segment is the largest contributor to this with a market volume of .21 billion.Revenue in the Luxury Watches & Jewelry market amounts to US.32bn in 2024. The market is expected to grow annually by 2.68% (CAGR 2024-2029).The wrist watch market in India was valued at INR 94.55 Bn in 2018, and is expected to reach INR 192.74 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~13.21%, during the forecast period (2019-2024).
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