U.S.: Watch Market 2022

Watch Market Size in the U.S.

The U.S. watch market skyrocketed to $X in 2021, picking up by X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Watch consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Watch Production in the U.S.

In value terms, watch production expanded to $X in 2021. In general, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Watch Exports

Exports from the U.S.

In 2021, overseas shipments of watches increased by X% to X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, watch exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X units), Canada (X units) and Mexico (X units) were the main destinations of watch exports from the United States, with a combined X% share of total exports. Switzerland, Vietnam, Japan, the Netherlands, Colombia, Germany and the UK lagged somewhat behind, together accounting for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for watch exports from the United States, comprising X% of total exports. The second position in the ranking was occupied by Switzerland ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+X% per year) and Canada (+X% per year).

Export Prices by Country

The average watch export price stood at $X per unit in 2021, surging by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into the U.S.

After six years of decline, overseas purchases of watches increased by X% to X units in 2021. Over the period under review, imports, however, continue to indicate a abrupt descent. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, watch imports soared to $X in 2021. The total import value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of watch to the United States, accounting for a X% share of total imports. Moreover, watch imports from Japan exceeded the figures recorded by the second-largest supplier, Switzerland (X units), eightfold. The third position in this ranking was occupied by China (X units), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+X% per year) and China (-X% per year).

In value terms, Switzerland ($X) constituted the largest supplier of watch to the United States, comprising X% of total imports. The second position in the ranking was occupied by Japan ($X), with an X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-X% per year) and China (-X% per year).

Import Prices by Country

The average watch import price stood at $X per unit in 2021, picking up by X% against the previous year. Over the period under review, the import price posted prominent growth. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by the country of origin: the country with the highest price was Switzerland ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform