The number of persons employed in watches, clocks, and jewellery repair in the UK is projected to increase from 2.01 thousand in 2024 to 2.17 thousand by 2028. Compared to 2023, where employment stood at 1.97 thousand, these figures suggest steady growth. The year-on-year increases from 2024 to 2028 are approximately 2.49% for 2024-2025, 1.46% for 2025-2026, 1.91% for 2026-2027, and 1.88% for 2027-2028. The cumulative average growth rate (CAGR) for this period is about 2.00%.
Future trends to watch for include:
- The impact of technological advancements in watchmaking and repair.
- Shifts in consumer preferences towards digital devices over traditional timepieces.
- Potential market growth driven by luxury watch demand.
- Resurgence in artisanal craftsmanship appreciation.