Over the past decade, the market size for watch straps and parts of base metal in Australia has demonstrated fluctuations. After peaking in 2013, the market showed a downward trend until 2018. However, from 2019 onwards, there were signs of recovery, although marked by a sudden dip in 2020. In recent years, the market has exhibited moderate growth with values reaching 8.0082 million USD by 2023, a slight year-on-year increase of 1.07% and a CAGR of 1.4% over the last five years.
Future trends to watch for:
- Growing demand for luxury and customizable watches that may increase the requirement for high-quality base metal parts.
- Sustainability trends could encourage the use of eco-friendly materials, impacting manufacturing strategies.
- The influence of digitalization and smart technology integration in traditional watchmaking could affect market dynamics.
| # | 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% | |
| 3 | 3 Spain | 5,101,000 | 2023 | -4.59% | -3.54% | View data |
| 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 |
