Market Research Future (MRFR) has published on the "Cruiser Bikes Market”
Market Research Future (MRFR) has published a cooked research report on the “Global Cruiser Bikes Market” that contains information from 2018 to 2032. The cruiser bikes market is estimated to register a CAGR of 5.90% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global cruiser bikes market— BMW AG, Harley Davidson, Hero Motocorp, Honda Motor Company, Piaggio, Suzuki Motor Company, Triumph Motorcycle, TVS, Yamaha, and Zero Motorcycle.
Cruiser Bikes Highlights
The global cruiser bikes market is accounted to register a CAGR of 5.90% during the forecast period and is estimated to reach USD 39.9 billion by 2032.
Cruiser motorcycles are luxury bikes favored by the younger generation for their aesthetic appeal. These motorcycles are designed to position the rider's feet forward, and the driver sits slightly behind the bike. Cruiser motorcycles are supplied with higher-than-average performance engines with more horsepower, stronger suspension, and stronger brakes. Cruiser bikes are equipped with advanced navigation, infotainment, and autonomous technologies. Enhanced safety and customizing bikes are some of the most significant market drivers.
The increased comfort and sense of luxury brought about by technological advancements are among the primary factors propelling the market's expansion. In addition, increased initiatives by major market participants to improve cruiser motorcycles' design and fuel efficiency are anticipated to stimulate market growth. However, the elevated likelihood of accidents and increased initial investment costs are among the most significant factors impeding market growth.
Segment Analysis
The global cruiser bikes market has been segmented based on engine capacity, price, and application.
Based on price, the market is segmented into Less Than 500cc, 501cc to 1000 cc, and more than 1000cc. The more than 1000cc segment was attributed to holding the largest market share in 2022.
Based on gasifier application, the global cruiser bikes market has been segmented into low, mid, and high. The mid category was expected to hold the largest market share in 2022.
Based on application, the market is segmented into daily commuting and touring. The daily commute segment was attributed to holding the largest market share in 2022.
Regional Analysis
The global cruiser bikes market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe cruiser bikes market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The cruiser bikes market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World cruiser bikes market comprises of Middle East, Africa, and Latin America.
In 2022, the North American market for Cruzer Bikes will dominate this market. Increased customer comfort and rising per capita income are expected to fuel market expansion.
Europe represents the second-largest market proportion for Cruzer Bikes. Europe is anticipated to hold a sizable market share and grow rapidly over the forecast period due to the customization potential of cruiser cycles, improved designs, and the adoption of cutting-edge technologies.
From 2023 to 2032, the Asia-Pacific Cruzer Bike Market is anticipated to grow at the highest CAGR. The market is anticipated to expand for various reasons, including the expansion of the local auto industry and the rising demand for high-end motorcycles.
Rising customer demand for technologically advanced motorcycles, improved passenger safety, and increased demand for advanced motorcycles contribute to expanding the cruiser bike market in Latin America, the Middle East & Africa.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Cruiser Bikes Market Research Report
Key Findings of the Study
- The global cruiser bikes market is expected to reach USD 324.7 billion by 2032, at a CAGR of 5.90% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market in 2022. Asia-Pacific is anticipated to record the highest CAGR over the forecast period due to the rising demand for enhanced bicycle travel among individuals.
- Based on application, the Daily Commute segment was attributed to holding the largest market in 2022, with an approximate market share of 55–65%.
- Some of the key market players are BMW AG, Harley Davidson, Hero Motocorp, Honda Motor Company, Piaggio, Suzuki Motor Company, Triumph Motorcycle, TVS, Yamaha, and Zero Motorcycle.
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Companies Covered | 15 |
Pages | 128 |
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