Enjoy complimentary customisation on priority with our Enterprise License!
The watch market share in Thailand is expected to increase by USD 199.32 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.54%.
This watch market research report of Thailand provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers watch market segmentation in Thailand by end-user (men and women) and distribution channel (offline and online). The watch market report of Thailand also offers information on several market vendors, including Apple Inc., CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Epos Uhren AG, Longines Watch Co. Francillon Ltd., OMEGA SA., PVH Corp., Rado Watch Co Ltd, Time Zone Co. Ltd., and UNDONE among others.
Download the Free Report Sample to Unlock the Watch Market Size in Thailand for the Forecast Period and Other Important Statistics
The rising demand for premium watches is notably driving the watch market growth in Thailand, although factors such as the presence of counterfeit products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the watch industry in Thailand. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Watch Market Driver in Thailand
Customers prefer watches with premium designs. To meet such evolving customer needs, vendors continuously innovate their product ranges and expand their product lines. Vendors are continuously introducing watches with premium finish by using different raw materials, such as magnesium, polyether ether ketone (PEEK), ceramic, ceramic matrix composite (CMC), ferrite, and carbon fiber. The use of such raw materials leads to product premiumization. The rising purchasing power and the increasing disposable income of customers are resulting in a growth in their spending on fashion accessories. This is propelling the demand for premium fashion accessories and supporting the growth of the watch market in Thailand. Premium watches are priced higher than regular watches. The upgrading fashion quo and lifestyle are also augmenting the demand for premium watches. Therefore, the increasing product premiumization, coupled with the growing customer spending on fashion accessories, would drive the value sales in the watch market in Thailand during the forecast period.
Key Watch Market Challenge in Thailand
Counterfeit products invade the intellectual property rights of established brands by selling products with trademarks, brand names, and logos similar to those of original brands. The huge fan base and premium price of the products of established brands encourage counterfeit providers to offer duplicate products at lower prices. The growing demand for watches widens the opportunities for counterfeit products in the market in Thailand. Vendors face difficulties in competing and taking legal action against the manufacturers of counterfeit products. Counterfeit products of different brands affect the business of genuine vendors in terms of revenue and the goodwill of their brands. The market for counterfeit products is growing rapidly, mainly led by the low production cost and high profit margins associated with them. The major market for counterfeit products is APAC due to the weak regulations and lack of standards in the region. Thus, the sales of counterfeit watches are inhibiting the growth of the watch market in Thailand.
This watch market analysis report of Thailand also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the watch market in Thailand encompasses successful business strategies deployed by the key vendors. The watch market in Thailand is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The watch market forecast report of Thailand offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Distribution channel
Vendor Landscape
Vendor Analysis
Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.