Taiwan Watch Market

Taiwan Watch Market Overview:

The Taiwan watch market size reached USD 550.50 Million in 2024. The market is projected to reach USD 800.65 Million by 2033, exhibiting a growth rate (CAGR) of 4.25% during 2025-2033. The market is evolving as consumer tastes shift towards both classic designs and smart technology. Buyers are drawn to timepieces that combine style with functionality, reflecting a growing interest in health and connectivity features. Retail strategies are adapting, with an increasing emphasis on e-commerce alongside conventional stores to reach a broader audience. Catering to a wide range of budgets, from affordable to high-end luxury, the sector is poised for steady expansion, strengthening the Taiwan watch market share.

Taiwan Watch Market Trends:

Redefining Timepieces as Wearable Art

In March 2024, Taiwan’s Ministry of Culture featured a showcase that reimagined how watches are worn transforming them into fashion-forward pieces displayed as pendants, belt clips, and brooches. This trend isn’t just about novelty; it reflects a shift in consumer behavior toward functional design with expressive, personal value. Consumers increasingly want products that serve more than a single purpose, and Taiwan’s designers are responding to that demand with pieces that blend traditional watchmaking and artistic presentation. The country’s growing investment in cultural industries has encouraged the transformation of watches into wearable art, supported by exhibitions and public campaigns that highlight originality and local creativity. As a result, Taiwan is fostering a new watch market segment rooted in design innovation rather than conventional features or pricing. This cultural-forward trend has also boosted local interest in handmade and customized timepieces, elevating demand for watches that carry personal meaning. It’s clear that this fusion of horology and creativity is expanding the product landscape. This shift marks a defining moment in evolving Taiwan watch market trends.

Expansion of Premium Watch Retail Channels

In September 2024, Taiwan saw considerable growth in luxury watch retailing, with new flagship stores opening in prime positions such as Taipei 101. The trend is a sign of growing consumer demand for high-end fashionable watches, fueled by higher disposable incomes and greater appreciation for craftsmanship and brand heritage. Luxury watches are no longer merely practical timepieces but symbols of status and personal expression for many Taiwanese consumers. Retailers are reacting by broadening their footprint with experiential brand destinations designed to attract domestic fans as well as high-end tourists. The movement also indicates Taiwan's strategic significance in the Asia-Pacific luxury economy, motivating foreign brands to invest directly in retail storefronts rather than relying exclusively on third-party distributors. As more luxury boutiques debut, Taiwan’s watch market is clearly trending toward a more developed and sophisticated luxury retail infrastructure, which should spur market growth and further solidify Taiwan's role as an emerging region luxury hub.

Rise of Independent Haute Horlogerie Retail

In March 2024, the launch of a stand-alone haute horlogerie boutique in Taipei represented a turn toward independent watchmaking among consumers. The boutique, owned by Sincere Fine Watches, features 14 independent brands, many with singular complications, hand-finishing, and low production. The retail concept is based on providing extremely personalized experience, with private lounges, rotating collections, and brand-specific showcases. It offers collectors and aficionados a new level of interaction with the craft of watchmaking beyond what is possible in conventional luxury shops. Having so many specialty brands in one place is an indication of increasing interest in timepieces expressing individuality, heritage, and technical excellence. These watches, unlike mass-market counterparts, are bought not for brand identity, but for craftsmanship and history behind each timepiece. This evolution indicates consumers of watches are becoming more sophisticated, looking for cultural and emotional connections in what they purchase. It also indicates how stores respond by creating upscale experiences that are far removed from transactional retail.

Taiwan Watch Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, price range, distribution channel, and end user.

Type Insights:

• Quartz
• Mechanical

The report has provided a detailed breakup and analysis of the market based on the type. This includes quartz and mechanical.

Price Range Insights:

• Low-Range
• Mid-Range
• Luxury

A detailed breakup and analysis of the market based on the price range have also been provided in the report. This includes low-range, mid-range, and luxury.

Distribution Channel Insights:

• Online Retail Stores
• Offline Retail Stores

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes online retail stores and offline retail stores.

End User Insights:

• Men
• Women
• Unisex

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes men, women, and unisex.

Regional Insights:

• Northern Taiwan
• Central Taiwan
• Southern Taiwan
• Eastern Taiwan

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Taiwan, Central Taiwan, Southern Taiwan, and Eastern Taiwan.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Taiwan Watch Market News:

• March 2024: Taiwan has welcomed the opening of Sincere Fine Watches’ SHH (Sincere Haute Horlogerie) flagship boutique in Taipei 101. The boutique offers a carefully selected range of prestigious independent watch brands, creating an exclusive environment for collectors and enthusiasts. Featuring elegant design elements and a private lounge with a dedicated bar, the store emphasizes personalized customer experiences. This move highlights Sincere Fine Watches’ dedication to expanding its footprint and enhancing its influence within Taiwan’s luxury watch market.
• September 2024: Taiwan officially welcomes IWC Schaffhausen's inaugural boutique, now available at the iconic Taipei 101. The Swiss luxury watchmaker shares its tradition and craftsmanship with a carefully conceived space that combines elegance with innovation. Highlighting top-notch collections such as the Portuguese Perpetual Calendar, the boutique also has a coffee bar and an "Engineering Wall" where the sophisticated mechanics of every watch are unveiled. This launch is an important milestone for IWC as it further establishes its relationship with Taiwan's sophisticated watch consumers.

Taiwan Watch Market Report Coverage:

Key Questions Answered in This Report:

• How has the Taiwan watch market performed so far and how will it perform in the coming years?
• What is the breakup of the Taiwan watch market on the basis of type?
• What is the breakup of the Taiwan watch market on the basis of price range?
• What is the breakup of the Taiwan watch market on the basis of distribution channel?
• What is the breakup of the Taiwan watch market on the basis of end user?
• What is the breakup of the Taiwan watch market on the basis of region?
• What are the various stages in the value chain of the Taiwan watch market? 
• What are the key driving factors and challenges in the Taiwan watch market?
• What is the structure of the Taiwan watch market and who are the key players?
• What is the degree of competition in the Taiwan watch market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Taiwan watch market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Taiwan watch market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Taiwan watch industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.