From 2013 to 2023, the market for watch straps and parts of base metal in Spain experienced an overall declining trend, with a decrease in market value from $9.59 million in 2013 to $5.10 million in 2023. The year-on-year variation has shown volatility, with significant drops notably in 2015 (-22.53%) and 2020 (-23.61%), whereas recovery attempts were seen in 2021 with a 15.23% increase. Over the last five years, the compound annual growth rate (CAGR) indicated a decrease of approximately 3.54%.
Future trends to watch for include:
- The impact of technological advancements on metal watch straps and smartwatches.
- Shifts in consumer preferences towards sustainable and innovative materials.
- Economic factors influencing the manufacturing and cost of base metal components.
- Potential recovery in market value driven by new fashion trends and global demand.
| # | 5 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 53,687,000 | 2023 | +0.58% | +0.8% | View data |
| 2 | 2 Australia | 8,008,200 | 2023 | +1.07% | +1.4% | View data |
| 3 | 3 Spain | 5,101,000 | 2023 | -4.59% | -3.54% | |
| 4 | 4 Canada | 5,038,500 | 2023 | -1.1% | -0.96% | View data |
| 5 | 5 Sweden | 4,466,800 | 2023 | +2.46% | +2.39% | View data |
