The sold production of watch and clock cases and parts in Denmark has exhibited significant fluctuations over the years. Beginning with a marked increase between 2013 and 2014, year-on-year growth rates indicated both substantial surges and notable drops. The most dramatic rise was observed from 2013 to 2015, characterized by an 81.29% year-on-year increase in 2015, following a 438.42% increase in 2014.
Over the past five years leading up to 2023, the sector has maintained a steadier, though still impressively positive, growth trajectory. For instance, despite a notable dip in 2020, the market rebounded robustly in subsequent years, with 2021 and 2022 showing healthy growth rates of 27.65% and 5.51%, respectively. As of 2023, the sector reached a value of 1146.4 thousand euros, with a satisfying 5.11% year-on-year increase.
From 2024 onwards, forecasts indicate continued growth albeit at a more modest pace, with projections showing a 5-year CAGR of 3.55%. This future growth is expected to be consistent, reaching 1437.7 thousand euros by 2028, reflecting a forecasted 5-year growth rate of 19.05%.
Future trends to watch for include the impact of technological advancements on manufacturing efficiencies, shifts in consumer preferences towards smartwatches and wearable technology, and potential economic factors that might influence production costs and market demand.
