Titan Targets 30% Share of India’s Mechanical Watch Market by 2033 

Titan Targets 30%

Titan aims to capture 30% of India’s mechanical watch market by 2033, marking a strategic push into premium timepieces as consumer demand shifts towards higher-priced watches. The company is strengthening its position through in-house movement technology, craftsmanship and a broader range of automatic watches. 

 Rahul Shukla, Chief of Sales and Marketing at Titan, told Deccan Herald that the company expects its mechanical watch business to grow at a compound annual growth rate (CAGR) of around 35%. 

  • Titan targets a 30% share of India’s mechanical watch market by 2033. 
  • Its automatic watch business grew from approximately ₹50 crore three years ago to ₹265 crore last year. 
  • Revenue from automatics is projected to reach ₹350-400 crore this year. 
  • Watches priced above ₹25,000 now account for 54% of the overall market. 

 Titan’s mechanical watch market strategy in India centres on premiumisation rather than increasing sales volumes alone. The company has introduced Vetra, the brand identity for its proprietary mechanical movement architecture, strengthening its focus on in-house watchmaking. 

 The shift comes as the premium segment expands. Watches priced above ₹25,000 account for 54% of the overall market, compared with 45% two years ago. Shukla expects this share to reach 60% within the next three to four years. The segment is growing by approximately 27-28% annually, compared with around 10% for watches priced below ₹25,000. 

 Titan currently offers about 85 stock-keeping units across fashion, complication-led and high-horology automatic watches. Its new Titan Automatics range is priced between ₹47,000 and ₹57,000, while premium models cater to customers seeking more specialised features. 

 Demand for high-end products has also been encouraging. The limited-edition Wandering Hour, priced at ₹1.8 lakh, sold all 500 pieces within a month. The Zero Hour professional diver watch, priced at approximately ₹75,000, also received a strong response. 

 Titan’s premium watch segment growth in India extends beyond metropolitan markets. Around 70% of its business comes from Tier 1 and smaller cities, according to Shukla, while e-commerce accounts for nearly 30% of overall sales. 

 The company’s watch division grew 15% in the last financial year and recorded 30% year-on-year growth in the second quarter of the current fiscal year, according to the report. Analogue watches posted growth in the early 30% range, while smartwatches returned to high single-digit growth during the quarter. 

 Titan’s automatic watch business growth will depend on sustaining premium demand while serving customers across different price points. The company continues to maintain its quartz and smartwatch offerings alongside its mechanical expansion. 

 By combining proprietary movement technology with premium designs and wider distribution, Titan is positioning itself to compete more strongly in India’s evolving mechanical watch market.