Watches with not precious metal case market in Germany

Earlier Report Observations

In the early years of the period, the German market for watches without precious metal cases was supported by the growing popularity of smartwatches and the expansion of online sales, contributing to a high sales volume of 20 million units in 2018. The COVID-19 pandemic in 2020 led to a sharp contraction in physical purchases, particularly in entry-level price segments, causing the market volume to drop to 14.8 million units. However, the market recovered quickly, partly fueled by a boom in luxury watch prices and the adaptation of trade shows and product presentations to digital formats.

The following years saw a structural shift toward higher-priced models. Despite the ongoing pandemic impact and a 24% drop in the number of watches sold compared to 2019, the market value rose to $659 million in 2021 due to increased demand for premium products. This trend intensified in 2022 as inflation and higher energy costs pushed average prices up by 5.8%, while demand for luxury watches drove prices in that segment up by over 10%. Consequently, the physical market volume fell to 8.8 million units by 2023, yet the value remained elevated, with the overall German watch and jewelry market reaching record revenue levels.

By 2024, the market volume in units partially recovered to 11.2 million, and the value stabilized at $661 million, reflecting sustained consumer interest in quality timepieces amidst a declining number of watchmakers and growing attention to environmental sustainability.

Production watches with not precious metal case in Germany

In value, 2017-2020, M $ US

Germany's production of watches with non-precious metal cases has declined for the third year in a row. In 2020, the output value dropped to 108.4 million US dollars, marking a 20.7% decrease compared to 2019. Over the period from 2017 to 2020, production fell by 33.4%, with an average annual decline of 12.7%.

Annual dynamics of production in Germany in value, 2017-2020, M $ US

In kind, 2017-2020, K unit

Germany's production volume of watches with non-precious metal cases has decreased for the third consecutive year. In 2020, 98.4 thousand units were produced, which is 15.1% lower than in 2019. From 2017 to 2020, production dropped by 50.4%, with an average annual decline of 20.8%.

Annual dynamics of production in Germany in kind, 2017-2020, K unit

Exports watches with not precious metal case from Germany

Exports in kind, K unit

After two years of growth, Germany's export volume of watches with non-precious metal cases declined. In 2020, exports reached 14 542 thousand units, a 23.5% decrease from 2019. Over the period from 2017 to 2020, exports fell by 20.6%, with an average annual decline of 7.4%. The highest export volume was recorded in 2019 at 19 020 thousand units, with the largest increase of 2.8% also occurring that year.

Annual dynamics of product's exports from Germany in kind, 2017-2020, K unit

From 2017 to 2020, France, Poland, and the United Kingdom were the largest buyers of Germany's watches with non-precious metal cases, accounting for 13.7%, 12.8%, and 9.3% of export volume, respectively. However, their combined share was only 35.8% of total exports, indicating a diversified market structure.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Germany in kind, 2017-2020

Exports in value, M $ US

Germany's export value of watches with non-precious metal cases has declined for the third consecutive year. In 2020, exports stood at 1 098 million US dollars, showing a modest drop of 6.4% compared to 2019. Over the period from 2017 to 2020, exports decreased by 12.6%, with an average annual decline of 4.4%.

Annual dynamics of product's exports from Germany in value, 2017-2020, M $ US

From 2017 to 2020, France, the United Kingdom, and Italy played notable roles as buyers of Germany's watches with non-precious metal cases, accounting for 16.5%, 9.0%, and 8.1% of export value, respectively. Their combined share reached 33.5% of total exports, reflecting a non-dominant market presence.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Germany in value, 2017-2020

Imports watches with not precious metal case to Germany

Imports in kind, K unit

Germany's import volume of watches with non-precious metal cases has declined for the third year in a row. In 2020, imports stood at 29 195 thousand units, which is 23.0% lower than in 2019. Between 2017 and 2020, imports decreased by 31.7%, with an average annual decline of 11.9%.

Annual dynamics of product's imports to Germany in kind, 2017-2020, K unit

From 2017 to 2020, China remained the primary source for Germany's imports of watches with non-precious metal cases, accounting for 72.9% of total import volume. The remaining imports were distributed among other countries.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Germany in kind, 2017-2020

Imports in value, M $ US

Germany's import value of watches with non-precious metal cases has decreased for the third consecutive year. In 2020, imports amounted to 1 510 million US dollars, down by 2.9% from 2019. Over the period from 2017 to 2020, imports fell by 7.8%, with an average annual decline of 2.7%.

Annual dynamics of product's imports to Germany in value, 2017-2020, M $ US

From 2017 to 2020, Switzerland, China, and Poland were the main suppliers of watches with non-precious metal cases to Germany, accounting for 48.2%, 30.4%, and 3.7% of import value, respectively. Together, they comprised 82.3% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Germany in value, 2017-2020