Industry Statistics and Trends
Watch & Clock Manufacturing in Europe key trends
The impact of digital tech has pushed traditional watch manufacturers to adapt.
Despite reduced local demand, luxury watchmakers in Italy, France and Switzerland thrive because of strong exports, especially to Asia and broader e-commerce reach.
The women's luxury watch market is booming in Europe.
This growth is fuelled by more women buying these watches as symbols of empowerment and style, leading manufacturers to expand their women's collections.
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Watch & Clock Manufacturing in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Watch & Clock Manufacturing in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 1.1 % over the past five years, to reach an estimated €34.2bn in 2024.
Trends and Insights
The boost of digital technologies has significantly impacted traditional watch and clock manufacturing
- Smartphones, digital watches and smart home devices with built-in clocks have contributed to low demand for conventional watches and clocks.
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Watch & Clock Manufacturing in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
The growing women's luxury market will support overall industry growth
- The women's luxury watch market is expanding in Europe, with countries like Italy and France leading. More women are investing in luxury timepieces as a statement of personal style and a sign of empowerment.
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Revenue
€34.2bn
Employees
76,253
Wages
€X.Xbn
European Leaders & Laggards
* CAGR values are for the years 2019-2024.
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Biggest companies in the Watch & Clock Manufacturing in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Montres Rolex SA | 8,477.8 | 1,407.8 | 16.6 | |
Audemars Piguet Holding SA | 2,562.3 | 425.5 | 16.6 | |
Richard Mille SA | 2,134.7 | 354.5 | 16.6 |
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Watch & Clock Manufacturing in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Watch & Clock Manufacturing industry in Europe in 2024?
The market size of the Watch & Clock Manufacturing industry in Europe is €34.2bn in 2024.
How many businesses are there in the Watch & Clock Manufacturing in Europe industry in 2024?
There are 1,407 businesses in the Watch & Clock Manufacturing industry in Europe, which has grown at a CAGR of 1.6 % between 2019 and 2024.
Has the Watch & Clock Manufacturing industry in Europe grown or declined over the past 5 years?
The market size of the Watch & Clock Manufacturing industry in Europe has been declining at a CAGR of 1.1 % between 2019 and 2024.
What is the forecast growth of the Watch & Clock Manufacturing industry in Europe over the next 5 years?
Over the next five years, the Watch & Clock Manufacturing industry in Europe is expected to grow.
What does the Watch & Clock Manufacturing in Europe include?
Manufacturer of precious Metals watch and clock and Manufacturer of steel watch and clock are part of the Watch & Clock Manufacturing industry.
Which countries have the most businesses in the Watch & Clock Manufacturing industry in Europe?
The European country with the most businesses in the Watch & Clock Manufacturing industry is Switzerland.
How competitive is the Watch & Clock Manufacturing industry in Europe?
The level of competition is high and increasing in the Watch & Clock Manufacturing industry in Europe.
Related Industries
This industry is covered in 37 countries
Table of Contents
About this industry
Industry definition
Watch and clock manufacturers design and produce watches, clocks and timing instruments. This process also encompasses manufacturing parts and components like straps, springs and dials, as well as time switches with clock movements or synchronous motors for consumer use.
Related Terms
ChronometerTourbillonQuartz MovementWhat's included in this industry?
Manufacturer of precious Metals watch and clock Manufacturer of steel watch and clock Manufacturer of bimetallic watch and clock Manufacturer of other metals watch and clock Manufacturer of other material watch and clockCompanies
Montres Rolex SAAudemars Piguet Holding SARichard Mille SAIndustry Code
2652 - Manufacture of watches and clocks in Europe
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Performance
Key Takeaways
The boost of digital technologies has significantly impacted traditional watch and clock manufacturing
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Watch & Clock Manufacturing in Europe industry (2011 -2029)
- Employees in the Watch & Clock Manufacturing in Europe industry (2011 -2029)
- Business in the Watch & Clock Manufacturing in Europe industry (2011 -2029)
- Profit in the Watch & Clock Manufacturing in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Watch & Clock Manufacturing in Europe industry?
Outlook
Analysis
What's driving the Watch & Clock Manufacturing in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Watch & Clock Manufacturing in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Watch & Clock Manufacturing in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Demand for steel watches ensures steady revenue. These watches appeal because of their durability, lifespan, resistance to discolouration and recyclability, which appeal to environmentally conscious consumers.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Watch & Clock Manufacturing in Europe industry's products and services performing?
Analysis
What are innovations in the Watch & Clock Manufacturing in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Watch & Clock Manufacturing in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Exporter
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Europe's Watch and Clock Manufacturing industry exhibits moderate concentration. While a few dominant manufacturers control a significant portion of the market, the industry still has substantial competition and diversity.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 10 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for Montres Rolex SA
- Countries of operation for Audemars Piguet Holding SA
- Countries of operation for Richard Mille SA
- Countries of operation for Patek Philippe SA
- Countries of operation for Breitling AG
- Countries of operation for Compagnie Financière Richemont SA
- Countries of operation for The Swatch Group Ltd
- Countries of operation for Damiani SpA
- Countries of operation for LVMH Moët Hennessy Louis Vuitton SE
- Countries of operation for The Watches Of Switzerland Group plc
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Stringent laws heavily regulate Europe's watch and clock industry. These laws ensure consumer safety and environmental protection and uphold intellectual property rights through imposed standards, substance restrictions and rigorous patent enforcement.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Watch & Clock Manufacturing in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Smartwatch popularity is challenging traditional watch profit. Despite economic shifts and tech competition, the European Watch and Clock Manufacturing industry retains its profitability through its dedication to quality, luxury and craftsmanship, but it must keep innovating to remain stable.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Watch & Clock Manufacturing in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
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