The German watch and clock production market has experienced significant fluctuations from 2013 to present. After peaking in 2014 and a brief recovery in 2019, the market witnessed a considerable decline in 2018 and 2020, likely influenced by external economic conditions and shifts in consumer preferences. Despite minor recoveries in subsequent years, the overall trend remains downward with a compound annual growth rate (CAGR) of -1.73% from 2024 to 2028, marking a forecasted decreasing trend.
The year-on-year variations highlight the cyclical nature of the market, with double-digit declines in 2020 followed by modest growth in 2021 and 2023. In 2023, the market stood at €360.59 million, indicating a slight improvement of 2.74% from the previous year, but still reflecting a long-term decline when observed over a broader timeframe.
In the forthcoming years, the industry is expected to face continued contraction with projected values declining yearly till 2028. Additionally, emerging trends such as technological advancements in smartwatches, shifts in fashion preferences, and changing consumer spending behaviors will be crucial to watch, as they can significantly impact the traditional watch and clock production segment in Germany.
