The global wall clock market size is predicted to experience considerable growth backed by high demand from the food industry. The expanding commercial and residential infrastructures in developed and developing nations can spur lucrative opportunities for the wall clock market in the forthcoming years, states Fortune Business Insights, in a report, titled “Wall Clock Market, 2023-2030.” The growing home decoration trends are expected to incite the development of the market.
COVID-19 Impact:
The outbreak severely affected the wall clock market because of the halt on production and supply chain activities. However, new initiatives by major brands to stabilize the effect of the pandemic can elevate the global market in the forthcoming years. Besides, the availability of covid-19 vaccines is expected to further alleviate the market from the intense revenue loss.
Fortune Business Insights™ lists out all the wall clock market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- 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.
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The report on the wall clock market includes:
- In-depth analysis of the market
- Useful insights into the segments
- Up-to-date trends and key factors
- Dominant regions
- Key Developments
Driving Factor:
Rising Focus on Home Décor to Enable Speedy Expansion
The need for wall hanging clocks is being driven by rising residential and commercial infrastructure facilities across the world. According to the National Association of REALTORS, commercial real estate volume sales in the United States increased by 4% in the fourth quarter of 2019 compared to the same period in 2018. Furthermore, altering consumer preferences toward purchasing wall clocks for room décor rather than to meet a fundamental clock requirement is propelling the wall clock market forward. Besides, the rising popularity of antique wall clocks as part of home décor is fueling demand for such items. In addition, the availability of wall clocks in a variety of colors and forms is expected to entice customers to purchase such items, resulting in market development. The need for ornamental wall hanging clocks is being fueled by an increase in on-demand video consumption connected to wall décor among individuals for various residences and official places.
By geography, the global wall clock market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Market Segments:
Product type, frame material, distribution channel, end-user, and region are all used to segment the worldwide wall clock market.
The market is divided into analogue and digital segments based on the product type. Analog clocks are more cost-effective and durable than digital clocks, thus they are projected to take a large part of the market.
The global market is divided into metal, wooden, plastic, and other frame materials. Metal wall clocks are the most decorative clocks, and producers may incorporate any design and color in the metal frame of the clocks; thus the metal sector is projected to hold a significant part of the market. Furthermore, rising customer demand for environmentally friendly ornamental items is propelling the industry forward.
The global market is divided into hypermarkets and supermarkets, convenience shops, internet retailers, and others based on the distribution channel. Due to the availability of a broad selection of wall hanging clocks such as pendulum clocks, voice compatible clocks, and others, the hypermarkets & supermarkets sector is projected to occupy a significant part of the market. Furthermore, customers may easily obtain coupons and discounts on certain decorative goods at such businesses, resulting in higher segmental revenues.
The market is divided into two categories based on end-user: homes and commercial. Due to the huge consumption of wall clocks among homes for their daily clock demands, the household sector is projected to occupy a significant market proportion.
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Regional Insights:
Increasing Import of Home Décor and Textile Products to Push Growth in Europe
Due to higher expenditure on home décor goods by the people in the region, the European region is projected to occupy a significant part of the market. The huge import volume of home décor and textile products in nations like the United Kingdom and Italy is anticipated to sustain decorative wall clock earnings in Europe. According to statistics provided by the CBI Ministry of Foreign Affairs, the import value of home décor and textile items in Europe reached USD 168,22.40 million in 2018. Furthermore, rising awareness of the availability of digital and voice assistant wall clocks is propelling the market forward. The Asia Pacific region’s quickest growth may be ascribed to the growing infrastructural facilities connected to supermarkets and grocery shops in countries like India and China, which is expected to enhance the region’s wall clock revenues. According to the China SDG Organization data, China’s top 100 grocery businesses operated 26,000 retail outlets in 2019, increasing 6.6 percent from 2018. The need for beautiful and traditional wall hanging clocks in the region is also being driven by growing interior décor trends.
The Global Wall Clock Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Wall Clock ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Wall Clock Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Wall Clock Market? What Was Capacity, Production Value, Cost and PROFIT of Wall Clock Market?
- What Is Current Market Status of Wall Clock Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Wall Clock Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Wall Clock Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Wall Clock Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Wall Clock Industry? What are Global Wall Clock Analysis Results? What Are Global Wall Clock Development Trends?
- What Are Market Dynamics of Wall Clock Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Wall Clock Industry?
Competitive Landscape:
Launch of Novel Wall Clock by Prominent Companies to Enable Growth
Companies are always attempting to produce novel wall clock goods in order to meet a wide range of consumer demands. For example, Amazon Inc. released Alexa-controlled microwave ovens, wall clocks, and a new Alexa Echo speaker in September 2018, allowing customers to properly manage their time while working with ovens and other kitchen equipment.
Key Development:
March 2018: Maschinenfabrik Berthold Hermle AG, released its range of clock in India. The range includes various clock types such as wall hanging, table, pendulum, etc.
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