Saudi Arabia Watch Straps Market (2022-2028) | Revenue, Size, Share, Growth, Industry, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Saudi Arabia Watch Straps Market Synopsis

Saudi Arabia watch strap market is forecast to grow during the period. One of the key reasons for the growth of the Saudi Arabia watch strap market is the growing demand for luxury watches. In addition, the growing popularity of smartwatches is another factor expected to boost market growth during the forecast period.

According to 6Wresearch, the Saudi Arabia Watch Straps Market size is expected to grow during 2022-2028. The Kingdom of Saudi Arabia is the largest country in the Middle East region and accounts for around a quarter of the Arab world's population. It is also the largest economy in the MENA region and has been witnessing strong economic growth in recent years. The growing economy, rising disposable incomes, and increasing consumer awareness are some of the key factors driving the Saudi Arabia watch straps market growth.

Market Factors affecting the Saudi Arabia Watch Straps Market

The major factor driving the growth of the market is the rising demand for luxury watches among the population, especially in the urban areas. The other factor fueling the market is the rapid growth of the e-commerce industry. Moreover, growing disposable incomes and changing lifestyle preferences are also fueling the demand for premium watches in the country. The growing preference for branded watches and the increasing popularity of smartwatches are also spurring the Saudi Arabia Watch Straps Market revenue. The other driving factors for the growth of the market are the growing preference for smartwatches and fitness bands, and the rising awareness about personalization.

However, the high cost of luxury watches is restraining the growth of the market to a certain extent. In addition, counterfeit products are also available in the market, which is further hampering its growth.

The Saudi Arabia watch strap market is currently being supplied by a number of different suppliers. There are also a number of smaller suppliers that are supplying the market with watch straps. The majority of the suppliers are located in Europe and Asia.

Market Analysis based on Product Type

Based on Product Type, the leather segment is anticipated to grow at a significant rate during the forecast period due to its wide range of applications in both formal and casual settings. By type, the market is divided into buckles/clasps, loops/rings, and pins/tubes. The buckles/clasps segment is expected to hold a major share of the market owing to their durability and easy maintenance.

The metal segment is also anticipated to grow during the forecast period. This can be attributed to its growing popularity among men and women due to its durability and stylish looks. The leather segment is also expected to grow at a significant rate owing to its natural look and feel.

Market Analysis Based on Application

Based on Application, the Saudi Arabia watch straps market is categorized into men's watches, women's watches, and kids' watches. The men's watches segment dominates the market as men are more inclined towards personalization and often prefer branded products. Women are increasingly interested in making their watches more personal, and thus, demand for strap styles that compliment their unique style has also increased.

Market Analysis Based on Distribution Channel Outlook

There are three main types of Saudi Arabia watch strap market: online, offline, and OEM.

Online stores are the most convenient way to buy watch straps, as they offer a wide variety of products and brands to choose from. The downside is that prices can be higher than offline stores, and shipping times can vary.

Offline stores typically have a smaller selection of watch straps than online stores, but they may offer lower prices and faster shipping.

OEM (original equipment manufacturer) suppliers sell watch straps to companies that then resell them under their own brand name. This option is usually more expensive than buying from an online or offline store.

Impact of COVID-19 on the Saudi Arabia Watch Straps Market

The COVID19 pandemic has had a significant impact on the Global watch straps market. The disease has caused widespread panic and disrupted daily life across the globe. This, in turn, has led to increased demand for safe and protective watch straps in the region.

The coronavirus is a highly contagious virus that can cause severe respiratory illness, including fatal cases. It is believed that the virus has caused a significant number of deaths in Saudi Arabia, where it has been particularly prevalent in recent months. The Saudi Arabia Watch Straps Market is anticipated to be significantly impacted by the coronavirus, with demand expected to decrease due to the scare and resultant product shortages.

In addition, manufacturers are likely to discontinue production as they clamp down on employee mobility. This will result in lost revenue for watch strap manufacturers and could have an overall negative impact on the market.

Competitive Landscape for the Saudi Arabia Watch Straps Market

The Saudi Arabia watch strap market share is a very competitive market. The competition is mainly between the Swiss, German, and Japanese manufacturers. The Swiss manufacturers have a significant share of the market due to their superior quality products. The German manufacturers are also very competitive and are able to offer good quality products at lower prices. The Japanese manufacturers are also very competitive and offer a wide range of products.

The key players in the market are also focused on product innovation and development to cater to the changing demands of the customers. The players are also investing in marketing and promotional activities to create awareness about their products in the market.

The competitive landscape of the Saudi Arabia Watch Straps Market is as follows:

• Product Innovation: Key players in the market are focused on product innovation and development to cater to the changing demands of customers. They are launching new products with various features and designs to meet the needs of different customer segments.
• Marketing & Promotional Activities: Players in the market are investing heavily in marketing and promotional activities to create awareness about their products among consumers. They are using various channels such as television, print media, online platforms, etc., to reach out to their target audience.
• Price Competition: There is a high degree of price competition in the Saudi Arabia Watch Straps Market as players are vying for a larger share of the pie. They are offering discounts and deals on their products to attract more customers.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Saudi Arabia Watch Straps Market Outlook
• Market Size of Saudi Arabia Watch Straps Market, 2021
• Forecast of Saudi Arabia Watch Straps Market, 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Revenues & Volume for the Period 2018 - 2028
• Saudi Arabia Watch Straps Market Trend Evolution
• Saudi Arabia Watch Straps Market Drivers and Challenges
• Saudi Arabia Watch Straps Price Trends
• Saudi Arabia Watch Straps Porter's Five Forces
• Saudi Arabia Watch Straps Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Product Type for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Type for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Ceramic for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Fabric for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Leather for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Metal for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Plastic for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Rubber for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027) for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Online for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Offline for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Application for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Women for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Watch Straps Market Revenues & Volume By Men for the Period 2018 - 2028
• Saudi Arabia Watch Straps Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
• Market Opportunity Assessment By Application
• Saudi Arabia Watch Straps Top Companies Market Share
• Saudi Arabia Watch Straps Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Watch Straps Company Profiles
• Saudi Arabia Watch Straps Key Strategic Recommendations 

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Type
• Ceramic
• Fabric
• Leather
• Metal
• Plastic
• Rubber

By Distribution Channel

• Online
• Offline

By Application

• Women
• Men

Saudi Arabia Watch Straps Market: FAQs