United Kingdom Luxury Watch Market Size, Share, and COVID-19 Impact Analysis, By Type (Mechanical, Electronic), By Band (Strap-based, Chain-based), By Distribution Channel (Offline Stores, Online), and United Kingdom Luxury Watch Market Insights, Industry Trend, Forecasts to 2035.

United Kingdom Luxury Watch Market Insights Forecasts to 2035

• The United Kingdom Luxury Watch Market Size was estimated at USD 778.19 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 5.00% from 2025 to 2035
• The United Kingdom Luxury Watch Market Size is Expected to Reach USD 4,921.22 Million by 2035

According to a research report published by Spherical Insights & Consulting, The United Kingdom Luxury Watch Market Size is Anticipated to reach USD 4,921.22 Million By 2035, Growing at a CAGR of 5.00% from 2025 to 2035.  The market growth is influenced by the presence of many millionaires and billionaires, and higher income levels of consumers as well.

Market Overview

The luxury watch market for the United Kingdom refers to the business that supports the consumer goods industry by focusing on expensive watches, which are distinguished by their materials, craftsmanship, and personalization. These watches are regarded as a prestige, especially, certain occasions which are delivered or sponsored by fashion markers. The growing demand for premium items will spark an interest in the luxury watch market. The luxury watches suit certain requirements, such as premium price, class, aesthetics, uniqueness, and excellence. Additionally, it employs rare precious metals that are not commonly found in everyday or low-cost timepieces. Furthermore, a growing number of wealthy celebrities and members of the royal family are selecting luxury timepieces, which raises the item's perceived worth in the eyes of buyers and serves as one which propelling the market's growth.

Report Coverage

This research report categorizes the market for the United Kingdom luxury watch market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom luxury watch market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the United Kingdom luxury watch market.

Driving Factors

The market for luxury watches in the UK is driven by remain connected to cell phones and smartwatches via Bluetooth, GPS, a distance tracker, and a health tracker. The use of electronics has also been a major factor in the growth of the smartwatch market, as gadgets that are compatible with both iOS and Android are another factor contributing to their growing popularity. The growing tendency to utilize expensive apparel as a symbol of authority is one of the main factors driving the demand for luxury watches. Another important factor in increasing the customer demographic is a shift away from conventional watches and toward ones with diamonds and gold, which has been noted in the market for hand jewelry from these products.

Restraining Factors

The price volatility of raw materials, especially premium materials, including gold and diamonds, is essential. Consequently, they suffer from a major industrial problem that costs companies billions of dollars annually, and high competition from fake watches is recognized by their inconsistent design. Further, an incorrectly spelled name or unsuitable branding may indicate some barriers to expansion.

Market Segmentation

The United Kingdom luxury watch market share is classified into type, band, and distribution channel.

• The electronic segment held a significant share in 2024 and is anticipated to grow at a rapid pace during the forecast period.

The United Kingdom luxury watch market is divided by type into mechanical, and electronic. Among these, the electronic segment held a significant share in 2024 and is anticipated to grow at a rapid pace during the forecast period. This is because of the increasing popularity of smartwatches with sophisticated features like GPS, multisport tracking, and heart rate monitors. Further, customers may track their distance and speed with the aid of these timepieces in real-time.  

• The chain-based segment held the highest share in 2024 and is anticipated to grow at a substantial CAGR over the forecast period.

The United Kingdom luxury watch market is segmented by band into strap-based, and chain-based. Among these, the chain-based segment held the highest share in 2024 and is anticipated to grow at a substantial CAGR over the forecast period. This is because of its robustness and adaptability in terms of raw materials and metal, usually composed of stainless steel, platinum, gold, or a mix of these metals for an aesthetic look. Furthermore, some products, particularly limited editions, may have distinctive bracelet designs that go well with the watch's general theme or idea, boosting the segment growth.

• The offline stores segment dominated the market in 2024 and is expected to grow at a remarkable CAGR during the forecast period.

The United Kingdom luxury watch market is segmented by distribution channel into offline stores, and online. Among these, the offline stores segment dominated the market in 2024 and is expected to grow at a remarkable CAGR during the forecast period. The online and offline markets are separated. Offline channels account for the majority of worldwide revenue. The primary driver of this segment's growth is consumers' increasing inclination to buy luxury products via retail establishments. Additionally, offline channels like supermarkets, convenience stores, and retail sites for company-owned brands make it easy for customers to understand the precise weight and size.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United Kingdom luxury watch market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Bremont
• Garrick
• Christopher Ward
• Roger W. Smith
• Alkin
• Schofield Watch Company
• Backes & Strauss
• Others

Recent Developments:

• In October 2024, Hackett London and Bamford London teamed up to create a limited-edition GMT watch. This timepiece blended Hackett’s classic British style with Bamford’s expertise in bespoke watchmaking. It featured a Swiss-made Sellita SW330-2 automatic movement, a 24-hour GMT hand, and an internal rotating bezel for tracking multiple time zones. The watch was crafted with a 40mm black PVD steel case, an anti-glare sapphire crystal, and offered 100m water resistance.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at United Kingdom, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the United Kingdom luxury watch market based on the below-mentioned segments

United Kingdom Luxury Watch Market, By Type

• Mechanical
• Electronic

United Kingdom Luxury Watch Market, By Band

• Strap-based
• Chain-based

United Kingdom Luxury Watch Market, By Distribution Channel

• Offline Stores
• Online