Japan dominates the global export of complete and assembled watch movements with automatic winding, controlling approximately 95.71% of the market in 2023. Switzerland follows distantly at 7.06%, but experienced a remarkable increase of 87.64% year-on-year, indicating a resurgence in their watchmaking industry. The United States and other European countries such as the Netherlands and the United Kingdom maintain minor shares, but most show negative growth, highlighting competitive challenges. Smaller players like Russia, Canada, and Greece face substantial declines, signaling struggles in maintaining market relevance.
Future trends to watch include potential shifts due to technological advancements and sustainability trends in watchmaking. The dramatic rise in Switzerland's market share presents opportunities for other high-quality watch manufacturers to expand exports. Monitoring the evolving consumer preferences towards luxury and smart watches will be crucial in predicting market dynamics and identifying growth opportunities for new entrants and existing players.
Top countries in Export of Complete and Assembled Watch Movements with Automatic Winding Share by Country (Units)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 95.71 | 2023 | +3.47% | +1.71% | View data |
| 2 | 2 Switzerland | 7.06 | 2023 | -6.81% | +87.64% | View data |
| 3 | 3 United States | 1.04 | 2023 | -13.41% | -12.55% | View data |
| 4 | 4 Netherlands | 0.48 | 2023 | +3.1% | +3.94% | View data |
| 5 | 5 United Kingdom | 0.22 | 2023 | +4.37% | +3.75% | View data |
| 6 | 6 Belgium | 0.061 | 2023 | +0.33% | -3.68% | View data |
| 7 | 7 Poland | 0.047 | 2023 | +1.92% | -16.03% | View data |
| 8 | 8 Italy | 0.044 | 2023 | -7.62% | -6.18% | View data |
| 9 | 9 Canada | 0.041 | 2023 | -3.99% | -18.37% | View data |
| 10 | 10 Czech Republic | 0.021 | 2023 | +2.2% | -13.75% | View data |
