Ireland: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in Ireland

For the fourth year in a row, the Irish market for plastic or non-precious metal watches recorded growth in sales value, which increased by X% to $X in 2023. Overall, consumption recorded a measured increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Plastic or Non-Precious Metal Watches in Ireland

In value terms, plastic or non-precious metal watch production declined remarkably to $X in 2023 estimated in export price. Over the period under review, production saw a abrupt descent. The pace of growth was the most pronounced in 2022 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports from Ireland

Plastic or non-precious metal watch exports from Ireland surged to X units in 2023, growing by X% against 2022 figures. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, plastic or non-precious metal watch exports expanded markedly to $X in 2023. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to see steady growth in the near future.

Exports by Country

The UK (X units) was the main destination for plastic or non-precious metal watch exports from Ireland, with a X% share of total exports. Moreover, plastic or non-precious metal watch exports to the UK exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. The third position in this ranking was held by Italy (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to the UK totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Italy (X% per year).

In value terms, Switzerland ($X), the United States ($X) and Japan ($X) constituted the largest markets for plastic or non-precious metal watch exported from Ireland worldwide, together accounting for X% of total exports. Italy, the UK, France, Spain, Thailand and Germany lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Italy, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average export price for plastic or non-precious metal watches amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the export price, however, saw a significant expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021; however, from 2022 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Ireland

In 2023, purchases abroad of plastic or non-precious metal watches increased by X% to X units, rising for the second consecutive year after three years of decline. In general, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic or non-precious metal watch imports surged to $X in 2023. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2023 and are likely to continue growth in the near future.

Imports by Country

In 2023, China (X units) constituted the largest supplier of plastic or non-precious metal watch to Ireland, accounting for a X% share of total imports. Moreover, plastic or non-precious metal watch imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was taken by Switzerland (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Switzerland (X% per year).

In value terms, Switzerland ($X) constituted the largest supplier of plastic or non-precious metal watches to Ireland, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Switzerland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

The average import price for plastic or non-precious metal watches stood at $X per unit in 2023, falling by X% against the previous year. Over the period under review, the import price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked at $X per unit in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for Cyprus ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform