Mechanical Watch Market Research Report Online (Business Opportunities - Other Business Ads)

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Mechanical Watch Market Research Report Online

The global Mechanical Watch Market size is projected to reach a CAGR of 6.2% from 2022-2028.

A Mechanical wrist Watch is a watch that uses a clockwork mechanism to measure the passage of time, as opposed to quartz watches which function electronically via a small battery. A mechanical watch is driven by a mainspring which must be hand-wound periodically. Its force is transmitted through a series of gears to power the balance wheel, a weighted wheel which oscillates back and forth at a constant rate. A device called an escapement releases the watch's wheels to move forward a small amount with each swing of the balance wheel, moving the watch's hands forward at a constant rate. This makes the 'ticking' sound characteristic of all mechanical watches.

The global watch market is seeing an uplift which can be contributed to demand of fashion accessories from the younger generation and the rise of disposable income in developed and developing nations. Technological advancements also played a key role in this uptick for the global watch market. The advent of quartz watches by Seiko ended the domination of mechanical watches. These new watches required less labour, were easier to produce and repair and could be fairly easily mass produced as well. Mechanical watches have now relegated to be a collector's item and a luxury. This has led to an increased demand for mechanical watches as well, especially by Swiss manufacturers which involve skilled craftsmanship and high-quality materials as the major pull factors. The increasing number of options for consumers and availability in various price ranges are expected to further enhance the demand for wrist watches in the market. The use of 3D printing, automation, and deployment of artificial intelligence in watch manufacturing is also expected to have a positive impact on the market.

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Last Update : Jun 06, 2023 8:11 AM
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2023-09-26 (0.449 sec)