In recent years, the demand for luxury watches has increased significantly, with many consumers viewing them as a way to display their financial success and social status.
The luxury watch market is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030, with the global luxury watch market size valued at USD 42 billion in 2023.
In this article, we will explore the latest trends in luxury watches, including smartwatches, chronographs, and skeleton watches. We will also see how the rising demand and industry key players are shaping the market by continuously providing trending luxury watches for men and women.
What are the most trending luxury watch types ?
Chronographs
Chronographs are classic timepieces that have been around for over a century. They are known for their stopwatch function and are often used in sports and aviation. Today's luxury chronographs combine traditional design with modern features, such as automatic movements and high-tech materials.
Some of the latest luxury chronographs include the Omega Speedmaster Moonwatch Professional, the Breitling Navitimer B03 Chronograph Rattrapante 45, and the Rolex Daytona.
Here are the most trending luxury chronograph watches.
1. Rolex Daytona 116500LN
The Rolex Daytona is one of the most iconic chronograph watches in the world, and the 116500LN is the latest and most refined version. It features a stainless steel case and bracelet, a black dial with white subdials, and a tachymeter bezel. The watch is powered by the Rolex Caliber 4130, which is a self-winding chronograph movement with a 72-hour power reserve.
2. Omega Speedmaster Moonwatch Professional Moonshine Gold
The Omega Speedmaster Moonwatch is another legendary chronograph watch, and it was the first watch worn on the moon. The current version, the Speedmaster Professional (here in Moonshine Gold), is faithful to the original design with a stainless steel or 18K Gold case, and other variants.
The watch is powered by the Omega Caliber 3861, which is a manual-winding chronograph movement with a 50-hour power reserve.
3. Zenith El Primero Chronomaster Sport
The Zenith El Primero Chronomaster Sport is a high-performance chronograph watch that is powered by the Zenith El Primero 3600 movement. This movement is one of the most accurate chronograph movements in the world, with a power reserve of 60 hours. The watch also features a stainless steel case and a white dial with black subdials.
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4. IWC Portugieser Chronograph
The IWC Portugieser Chronograph is a luxurious chronograph watch that is perfect for everyday wear. It features a stainless steel case and a white dial with two vertical subdials. The watch is powered by the IWC Caliber 69355, which is a self-winding chronograph movement with a 46 hours power reserve.
5. TAG Heuer Monaco
The TAG Heuer Monaco is a sporty chronograph watch that is known for its square case. It was made famous in 1971 by Steve McQueen in the movie "Le Mans," and it is still a popular choice for collectors today.
The 39mm men's watch features a stainless steel case and a blue dial with white subdials. It is powered by the in-house Heuer 02 automatic movement, which is a self-winding chronograph movement visible through the transparent caseback. On the other hand, the Tag Heuer Aquaracer Professional is in our selection of the best Swiss luxury watches for women.
Smartwatches
Smartwatches have been around for a while, but they continue to evolve and improve. Today's luxury smartwatches combine the latest technology with high-end materials and design, making them a popular choice among tech-savvy watch enthusiasts.
Here are 5 of the most trending luxury smartwatches.
1. Apple Watch Series 8
The Apple Watch Series 8 is considered the best premium smartwatch by experts. It offers advanced health tracking features, a sleek and comfortable design, a big and gorgeous display, and fast charge speeds. It runs on the watchOS 9 operating system, which is highly praised for its functionality.
2. Tag Heuer Connected Modular 45
The Tag Heuer Connected Modular 45 is known for its luxurious design and well-designed software. It features a distinctive TAG Heuer case design, luxury materials like sapphire, ceramic, and steel, and a sharp, high-resolution screen. It also offers the Tag Heuer Sports app for fitness tracking.
3. Breitling Exospace B55
The Breitling Exospace B55 is a luxury smartwatch known for its aviation-inspired design and advanced features. It offers features like smartphone notifications, chronograph functions, and a rechargeable battery. It is highly regarded by watch enthusiasts for its craftsmanship and attention to detail.
4. Montblanc Summit 2+
The Montblanc Summit 2+ is an high-end smartwatch that combines traditional Swiss watchmaking with modern technology. It features a classic design, a high-resolution AMOLED display, and offers various fitness tracking features. It runs on the Wear OS operating system and is compatible with both Android and iOS devices.
5. Hublot Big Bang E
The Hublot Big Bang E is a first choice smart watch known for its bold and distinctive design. It features a titanium case, a high-resolution AMOLED display, and offers various customizable watch faces. It runs on the Wear OS operating system and offers features like fitness tracking and smartphone notifications.
These luxury smartwatches offer a combination of style, advanced features, and craftsmanship, making them highly sought after in the market. Each watch has its own unique design and features, various straps, catering to different preferences and needs of luxury watch enthusiasts.
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Skeleton Watches
Skeleton watches are a type of mechanical watch that exposes the inner workings of the watch, giving it a unique and intricate design. They have been around for centuries but have recently made a comeback in the luxury watch industry. Today's luxury skeleton watches combine traditional craftsmanship with modern design, making them a popular choice among watch enthusiasts.
Some of the latest luxury skeleton watches include the Hublot Classic Fusion Orlinski, the Cartier Santos-Dumont Skeleton, and the Audemars Piguet Royal Oak Double Balance Wheel Openworked.
Here are the top 5 trending skeleton luxury watches currently.
1. Maurice Lacroix Masterpiece Skeleton
The Maurice Lacroix Masterpiece Skeleton is a stunning skeleton watch that features a unique dial design. The dial is made up of a series of overlapping bridges that reveal the inner workings of the watch. The watch is powered by the Maurice Lacroix Caliber ML190, which is a self-winding skeleton movement with a 48-hour power reserve.
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2. ORIS ProPilot X Skeleton
The ORIS ProPilot X Skeleton is a sporty skeleton watch that is perfect for everyday wear. The watch features a stainless steel case and a black dial with white subdials. The watch is powered by the ORIS Caliber 115, which is a self-winding skeleton movement with a 54-hour power reserve.
3. Jaquet Droz Grande Seconde Skeleton
The Jaquet Droz Grande Seconde Skeleton is a skeleton dark luxurious watch that is known for its beautiful dial design. The dial features a large seconds subdial that is surrounded by a delicate network of bridges. The watch is powered by the Jaquet Droz Caliber 2660SQ, which is a self-winding skeleton movement with a 68-hour power reserve.
4. Zenith Defy Classic Skeleton
The Zenith Defy Classic Skeleton is a contemporary skeleton watch that is perfect for a more casual look. The watch features a dark ceramic case and a black star dial with white subdials. It is powered by the Elite automatic manufacture movement, an in-house caliber Elite 670 Skeleton.
5. Richard Mille RM 010 Automatic Skeleton
The Richard Mille RM 010 Automatic Skeleton is a high-end skeleton watch that is known for its innovative design. The watch features a carbon fiber case and a skeletonized dial that reveals the inner workings of the watch. The watch is powered by the Richard Mille Caliber RMAC1, which is a self-winding skeleton movement with a 55-hour power reserve.
Rising Demand for Luxury Goods
The global luxury watch market was valued at $42.21 billion in 2022, and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030.
The perception of luxury goods, including luxury watches, as a symbol of high status and wealth, has played a significant role in the growth of the luxury watch market. With increasing disposable incomes, many consumers view luxury watches as a way to display their social status.
It’s one of the factor that makes them and the manufacturing companies increasingly popular in recent years.
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Innovation and New Product Launches
Manufacturers in the luxury watch industry are constantly innovating and introducing new products to cater to consumer demands. This includes incorporating new technologies and materials to improve the quality and functionality of full-price and affordable watches. All this while maintaining the durability and comfort consumers expect.
Quality is paramount to luxury watch consumers, who expect watches to be crafted precisely and made with the finest materials.
Pre-Owned Watch Market
Pre-owned watch sales reached $22 billion in 2021, accounting for nearly one-third of the overall $75 billion luxury watch market. The segment is commanding more recognition than ever as a result of growing buyer interest and a shortage of the best models.
Wealthy investors increasingly seek alternative investments to diversify their portfolios and to hedge against inflation. For these and other investors, luxury watches stand out as a class of alternative assets because of the strong demand. They also have generally delivered strong price performance in the market, over the past five to ten years.
Future Luxury Watch Trends
The luxury market size continues to grow with future generations, and is defined as showing its style, uniqueness, and top-quality design. If it’s high-quality and has a premium price tag, eventually with diamonds or other precious stones, then it falls under the definition of a luxury watch.
Apple sees an increase in sales due to offering customization features. Some of these features include the material, color, and other features.
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Latest Luxury Watch Trends: Key Players
Some of the prominent players in the global luxury watch market include:
- Apple Inc.
- The Swatch Group Ltd
- Audemars Piguet Holding S.A
- Fossil Group, Inc.
- Citizen Watch Company of America, Inc.
- Seiko Watch Corporation
- Compagnie Financiere Richemont SA
- LVMH Moet Hennessy - Louis Vuitton
- Movado Group Inc
- Ralph Lauren Corp
The luxury watch market is expected to continue growing in the coming years, with rising demand for high-end goods, innovation, new product launches, and the pre-owned watch market being the key drivers. The future of luxury watches is bright, with new trends emerging and key players continuing to dominate the market.
Luxury watch Trends - Takeaway
The luxury watch market is a dynamic and ever-changing industry. In recent years, we have seen a number of trends emerge. The rise of skeleton watches, the growing demand for pre-owned watches, for Swiss Luxury watch brands, and the increasing importance of innovation and new product launches.
As the luxury watch market continues to evolve, it will be interesting to see what new trends appear in the years to come. However, one thing is for sure: the demand for luxury watches is not going away anytime soon.
* The watch in the article image header is an IWC Portofino.
