The Finnish clock and watch parts market has witnessed fluctuations over the last decade. Between 2012 and 2016, the market saw a downward trend, reaching its lowest point in 2016. However, from 2017 onwards, the market began to recover, with minor fluctuations, achieving year-on-year growth rates ranging between 1.65% and 12.67%. The market value transitioned from $3.6767 million in 2012 to $3.9176 million in 2022. Over the past two years, growth was modest, with a 0.029% increase in 2021 and a 0.8% rise in 2022. The five-year CAGR from 2018 to 2022 stood at 3.26%.
Looking ahead, potential future trends to watch include:
- Technological advancements in smartwatches, which could drive market growth.
- Increasing consumer preference for luxury timepieces.
- Global economic stability, influencing disposable incomes and spending on watches.
| # | 13 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 238,050,000 | 2023 | +0.94% | +1.18% | View data |
| 2 | 2 United Kingdom | 130,190,000 | 2023 | +0.84% | -0.89% | View data |
| 3 | 3 India | 121,210,000 | 2023 | +2.92% | +2.39% | View data |
| 4 | 4 Italy | 66,446,000 | 2023 | -3.55% | -3.68% | View data |
| 5 | 5 Spain | 28,948,000 | 2023 | -8.23% | -8.21% | View data |
| 9 | 9 Denmark | 6,384,300 | 2023 | +0.8% | +1.48% | View data |
| 10 | 10 Norway | 4,505,600 | 2023 | -6.68% | -6.1% | View data |
| 11 | 11 Finland | 4,460,100 | 2023 | +4.09% | +3.48% | |
| 12 | 12 Croatia | 556,180 | 2023 | +1.8% | +1.16% | View data |
| 13 | 13 Guatemala | 301,250 | 2023 | +0.67% | +2.06% | View data |
