In 2023, France's import of complete movements of watches unassembled or partly assembled was slightly higher than the forecast for 2024 at $376.02 thousand. This market anticipates a gradual decline over the next five years, with values predicted to decrease annually by nearly 1%. This steady decrease results in a compound annual growth rate (CAGR) characterized by a negative trend.
Future trends to watch for include:
- Potential shifts in consumer demand towards digital or smart watches, impacting traditional mechanical watch components.
- Economic factors influencing import policies or costs that could further affect the market dynamics.
- Technological innovations in watchmaking that might alter the import requirements or the industry's structural needs.