Mechanical Watch Market by Opportunities, Trends, Dynamics and Growth Factors Forecast to 2021

Global Mechanical Watch Market is segmented on the basis of product as Stainless Steel, Leather, Metal, Titanium, Rubber, Plastic, and Others. A watch that makes use of a specific mechanism to gauge the passage of time is called a mechanical watch. These types of watches are quite different from modern quartz watches as they operate electronically.

These watches are mainly operated with the assistance of a spring which is known as called a mainspring that must be wound occasionally. Moreover, their force is usually sent out via a series of gears to control the balance wheel that is basically a weighted wheel that moves back and forth at a steady rate. An escapement is a particular device that circulates the watch’s wheels to shift it forward a little with every swing of the balance wheel, shifting the watch’s hands forward at a continuous speed.

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Through continuous studies and researches, it has been proved that these mechanical watches are generally not as precise when compared with modern electronic quartz watches. In addition, they require regular cleaning and maintenance by an expert and professional watchmaker. As per the past scenario, it is noted that the quartz watches have covered the largest share of the watch market, and the mechanical watches have remained mostly as a high-end product, that is bought by the end users for aesthetic reasons, and for the approval of their excellent craftsmanship.

The prominent factors that are contributing considerably in raising the growth of the market include augmented demand for luxury watches, rise in the disposable income and a growing upper middle class in the emerging nations like India, China, and Brazil. It is anticipated that the Mechanical Watch Market is likely to witness the highest CAGR in the near future as the scope and applications for the particular market is rising tremendously. Mechanical Watch Market is segmented on the basis of application as Men, and Women. Mechanical Watch Market is segmented on the basis of geographical region as North America, Europe, China, Japan, Southeast Asia, and India.

As far as the geographical region is concerned, Asia Pacific is currently deemed as the leader of the market and it is anticipated that the region will witness a huge growth in the next couple of years. It is also registering the largest share of the market, the reason being growing frequency of HNWIs, increasing upper middle class, rising interest and curiosity of consumers in luxury products, huge portfolio of products, constant innovations, and introductions of modern products. It is likely that the region will keep on leading the mechanical watches market. On the other hand, Europe and North America is displaying a sluggish growth as compared to other regions.

The key players operating in the Mechanical Watch Market include Fossil, Kairos Watches, American Coin Treasures, Charles Hubert, Invicta Watch, Seiko Watches, Akribos XXIV, Gevril Group, and Stuhrling Original.

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