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Wall Clock Market Size, Share & Industry Analysis, By Product Type (Analog, Digital), By Frame Material (Metal, Wooden, Plastic, Others), By Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Online Stores, Others), By End-User (Households, Commercial) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI104390 | Status : Ongoing

 

KEY MARKET INSIGHTS

Wall hanging clocks are commonly used by the people in their living rooms and halls. Growing renovation and remodelling activities has provided ease in the demand for such products. Wall clocks made up of blended metal material in its frame are widely popular as they provide a shiny & decorative look to the home showcase shelves.


Nowadays, companies are constantly trying to develop innovative wall clock items to cater to varied consumer needs. For instance, in September 2018, Amazon Inc. launched Alexa-controlled microwave ovens, wall clocks, and a new Alexa Echo speaker in which users can manage their time effectively while working with ovens and other kitchen devices.

Rising residential and commercial infrastructural facilities across the globe is driving the demand for the wall hanging clocks. According to the data presented by the National Association of REALTORS, in the U.S., commercial real estate volume sales rose by 4% in the fourth quarter of 2019 over to that of 2018. Also, shifting consumer trends towards the purchasing of the wall clocks for room decoration purposes rather than fulfilling a basic clock necessity is further driving the growth of the market. Additionally, growing home decoration trends with antique wall clock is further adding an impetus to the demand for such products.

Moreover, the provision of wall clocks of different colors and shapes is likely to attract the consumers towards buying such products which thereby, drive the growth of the market. Increasing on-demand video consumption related to the wall decoration among the people for the various households and official spaces is further fuelling the demand for decorative wall hanging clocks.

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Key Market Driver -

Rising residential and commercial infrastructural facilities are expected to drive market growth.

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Key Market Restraint -

Longer product life cycle of the wall clocks are anticipated to restrain the market growth.


However, the longer lifecycle of the wall clocks is anticipated to limit the consumer demand for purchasing newer wall clocks which thereby, restrain the market growth. Similarly, shifting consumer preference towards other convenient time-telling devices such as wristwatches, and smartphones are likely to limit market expansion.

Key Players Covered:


The key players associated with the global wall clock market are, Maschinenfabrik Berthold Hermle AG, The WestClox Source, La Crosse Technology Ltd., BROOKPACE LTD., Emerson Radio Corporation, Koninklijke Philips N.V., Gingko Design LTD., Argos Limited, Seiko Instruments U.S.A., Zazzle Inc., and others.

The global wall clock market is segmented based on product type, frame material, distribution channel, end-user, and geography.

Based on the product type, the market is segmented into analog and digital. The analog segment is expected to hold a major share of the market as analog clocks are cost-effective and durable compared to that of digital type. Additionally, a power outage does not affect the analog wall clocks which normally happen in the case of digital clocks which thereby drive segmental growth.

By frame material, the global market is segmented into metal, wooden, plastic, and others. The metal segment is expected to hold a major share of the market as metal wall clocks are the most decorative clocks and manufacturers can embed any design & colors in the metal frame of the clocks. Additionally, growing consumer demand towards the usage of sustainable decorative products is further driving future segmental revenues.

Based on the distribution channel, the global market is segmented into hypermarkets & supermarkets, convenience stores, online stores, and others. Hypermarkets & supermarkets segment is expected to hold a major share of the market owing to the availability of the wide variety of the wall hanging clocks such as pendulum clocks, voice compatible clocks, and others at such stores. Additionally, users can easily get coupons and discounts on the selective decorative items at such stores which results in larger segmental revenues.

By end-user, the global market is segmented into households and commercial. The household segment is expected to hold a major share of the market owing to the large consumption of the wall clocks among households for their daily use clock needs.

Regional Analysis:


By geography, the global wall clock market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

The European region is expected to hold a major share of the market owing to greater spending on home decoration items of the population in the region. The large import volume of the home décor & textile items in the countries such as the U.K. and Italy is likely to support the revenues from the decorative wall clocks in Europe. According to the data presented by the CBI Ministry of Foreign Affairs, in 2018, the import value of the home décor and textile products in Europe reached USD 168,22.40 million. Additionally, growing awareness regarding the availability of digital & voice assistant wall clocks is further driving the growth of the market.

The fastest growth of the Asia Pacific region is attributed to the rising infrastructural facilities related to the supermarkets & grocery stores in the countries such as India and China which is likely to support the revenues from the wall clocks in the region. According to the data presented by the China SDG Organisation, in 2019, the top 100 supermarket companies constituted  26,000 retail stores in China, this number of retail stores increased by 6.6% as compared to 2018. Additionally, rising interior decoration trends are further driving the demand for decorative and classical wall hanging clocks in the region.

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Segmentation






























ATTRIBUTE

  DETAILS

By Product Type



  • Analog

  • Digital



By Frame Material



  • Metal

  • Wooden

  • Plastic

  • Others



By Distribution Channel



  • Hypermarkets & Supermarkets

  • Convenience Stores

  • Online Stores

  • Others



By End-User



  • Households

  • Commercial



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments:



  • In March 2018, Maschinenfabrik Berthold Hermle AG, a German clockmaker launched its range of clock in India. The range includes various clock types such as wall hanging, table, pendulum, etc.

  • In September 2018, Amazon Inc., launched ‘Echo Wall Clock’, a wall clock with Bluetooth and voice assistance features embedded in it and that can be controlled with the help of Alexa assistant speakers.





  • Ongoing
  • 2023
  • 2019-2022

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