Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
There are several factors of the market that impact on the dynamics in a cruiser bike market. One of the main elements is that consumer demand. Since people want to combine the function, form, and comfort in their selection of transportation means, the cruiser bike industry supply bikes with designs that can match this need. The retro aesthetic and the casual riding position of cruiser bicycles are very appealing to many consumers who value a leisurely, pleasant ride.
Economic environment is one of the main factors that affect on the cruiser bike market. In times of a healthy economy, consumers tend to possess a surplus income that they utilize for buying recreational vehicles such as cruiser bikes. On the other hand, in a recessionary setting where consumers tend to spend less, such leisure oriented bikes also suffer on their demand side. The development of cruiser bikes is due to the advancements made in the technology.
Lighter, more efficient, and also attractive models result from the advances in materials, manufacture techniques as well as design. Innovative technologies can improve the whole riding experience thus making cruiser bikes more appealing to a lot of people. Another market factor, which we can find in the cruiser bike industry is the government regulations and policies.
Production, sales, and availability of cruiser bikes in different regions can be greatly affected by many factors such as emission standards, safety regulations and also import/export policies. Compliance with such regulations makes it more possible for the manufacturers to follow legal provisions and sell their products in various markets. Environmental awareness has emerged as a very major issue in the recent times.
With an increasing number of consumers focusing on green modes of the transportation, the market for cruiser bikes caters to this demand by offering electric and also hybrid models. The bikes appeal to those who seek an eco-friendly alternative yet without compromising the classic cruiser bike look. The industry competition contributes greatly to the market dynamics.
Because of a larger supply base with multiple manufacturers and many brands, cruiser bikes have become more diversified resulting to in various features and prices. The aim of this competition is to promote innovation since the companies try to make their product unique and lead the way Also, it gives the consumers numerous alternatives thereby building up pressure on the manufacturers to constantly revamp and refine their product line.
The cruiser bike market is also influenced by the cultural trends and lifestyle decisions. The comeback of the hype in the vintage and retro styles has influenced cruiser bikes. These bicycles resonated with a yearning for blissful relaxation and old times, which attracted alot of people who wanted to take some time off from the busy technological world.
Finally, demographic influences have an impact on the cruiser bike market alot. Cruiser bikes generally appeal to many people who want an easy and a fashionable ride. Comprehending the target audiences’ interests and requirements, such as baby boomers or millennials-generally speaking—allows many manufacturers to personalize their marketing tactics.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 5.90% (2023-2032) |
Cruzer Bike Market Highlights:
Cruiser Bike Market Overview
Cruiser Bike Market Size was valued at USD 62.9 billion in 2022. The Cruiser Bike market is projected to grow from USD 66.61 Billion in 2023 to USD 105.36 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2023 - 2032). Customers rising demand for cutting-edge motorcycles, improvements to rider safety, and rising demand for advanced motorcycles are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cruiser Bike Market Trends
-
Growing technological advancements are driving the market growth
Motorcycles like sportbikes, cruiser bikes, touring bikes, and mopeds have become popular as they make commuting easier. As a result of their zero emissions, greater power output, low maintenance requirements, and distinctive looks, electric bikes are more popular with consumers today. This trend is projected to continue over the forecast period. Additionally, during the projected period, the demand for features in high-tech motorcycles, including enhanced navigation, infotainment, telematics, and autonomous technologies, is expected to expand. Therefore, it is anticipated that during the forecast period, the rise in demand for technologically advanced bikes will positively impact the market CAGR of the global cruiser bikes market.
Similarly, rising initiatives for the design and advancement of novel systems and the adoption of cutting-edge technology in bikes are anticipated to affect the market's expansion positively. The market for motorcycles is also fueled by an increase in sports bike riders, technological advancements in design, manufacturing, and electronics, and a rising need for safety measures and driver support to create a comfortable and safe environment. As a result, several manufacturers are developing methods to construct bicycles that can run on renewable resources like solar energy, gas, or electricity. Leading motorcycle producers have improved bike designs through substantial technology developments, which is anticipated to draw many buyers worldwide. As a result, bike makers like BMW, Kawasaki, Honda, and Yamaha are creating bikes with artificial intelligence (AI) and self-balancing technologies that can detect and react instantly to changes in the surroundings. Thus, such factors are driving the Cruiser Bike market revenue.
Cruiser Bike Market Segment Insights
Cruiser Bike Engine Capacity Insights
Based on Engine Capacity, the Cruiser Bike Market segmentation includes Less Than 500cc, 501cc to 1000 cc, and More Than 1000cc. The More Than 1000cc segment dominated the market, accounting for 35% of market revenue (78.48 billion). Due to factors including the rising popularity of touring among people worldwide and their increasing need for more power and torque, the demand for cruiser bikes with displacements of more than 1000cc is anticipated to rise. Therefore, these factors are anticipated to fuel market expansion over the forecast period.
Figure 1: Cruzer Bike Market by Engine Capacity, 2023 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cruiser Bike Price Insights
Based on Price, the Cruiser Bike Market segmentation includes Low, Mid, and High. The Mid Price category generated the most income. Some key drivers propelling the market's expansion are the need for technically advanced automobiles and the rise in disposable income.
Cruzer Bike Application Insights
Based on Application, the Cruiser Bike Market segmentation includes Daily Commute and Touring. The Daily Commute category generated the most income (65.4%). Cruiser motorcycles are more opulent and comfortable than other types of motorcycles, but because they are not fuel-efficient, they are more frequently used for everyday commuting than for travel.
Cruiser Bike Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Cruiser Bike market area will dominate this market in 2022. Customers increased comfort and rising per capita income are anticipated to fuel market expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Cruzer Bike Market Share By Region 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s Cruiser Bike market accounts for the second-largest market share. Over the forecast period, Europe is anticipated to hold a sizable market share and expand quickly due to factors like the cruiser bikes' scope for customization, improved designs, and the adoption of cutting-edge technologies. Further, the German Cruiser Bike market held the largest market share, and the UK Cruiser Bike market was the fastest-growing market in the European region
The Asia-Pacific Cruiser Bike Market is expected to grow at the fastest CAGR from 2023 to 2032. The market is anticipated to grow for some key reasons, including the local auto industry's expansion and the demand for high-end motorcycles. China is thought to be the region's top revenue-producing nation as a result of the presence of significant market players. Moreover, China’s Cruiser Bike market held the largest market share, and the Indian Cruzer Bike market was the fastest-growing market in the Asia-Pacific region.
Cruiser Bike Key Market Players & Competitive Insights
Leading market players invest heavily in R&D activities to expand their products, which will assist the Cruiser Bike market. Companies are also undertaking strategic activities to develop their global market share, with important market developments such as new product launches, agreements, higher investments, mergers & acquisitions, and collaboration with other companies.
One of the key business strategies manufacturers use in the global Cruzer Bike industry is manufacturing locally to minimize manufacturing costs. Major players in the Cruiser Bike market include BMW AG, Harley Davidson, Hero Motocorp, Honda Motor Company, Piaggio, Suzuki Motor Company, Triumph Motorcycle, TVS, Yamaha, and Zero Motorcycle.
Automotive firm Bayerische Motoren Werke AG is involved. It creates, produces, and markets bikes, cars, replacement parts, other vehicles, and engines. Additionally, the business provides services for insurance, fleet management, retail customer and dealer financing, deposit business, and automobile leasing. It sells goods under the labels Motorrad, BMW, MINI, Rolls-Royce, Alphabet, John Cooper Works, and YOUR NOW. The business caters to customers from Europe, the Americas, Asia, and other continents. It has factories for production and assembly and a global sales network. The headquarters of BMW is located in Munich, Bavaria.
The luxury motorbike maker Harley-Davidson Inc. The business creates, assembles, and sells bikes, motorcycle components, and accessories. On a wholesale basis, it also provides general products relating to motorcycles. Harley-Davidson offers its dealers and customers options for wholesale and retail finance and insurance in the US and Canada. It has an online store where it sells motorbike accessories, parts, and other related goods and services. The business also offers electric bikes for sale. The company sells and markets motorcycles through a network of independent dealers in the US, Europe, the Middle East, Africa, Japan, Canada, Australia, New Zealand, and other countries. Milwaukee, Wisconsin, in the US, serves as Harley-Davidson's corporate headquarters.
Key Companies in the Cruiser Bike market include
- BMW AG
- Harley Davidson
- Hero Motocorp
- Honda Motor Company
- Piaggio
- Suzuki Motor Company
- Triumph Motorcycle
- TVS
- Yamaha
- Zero Motorcycle
Cruiser Bike Industry Developments
July 2021 Kawasaki introduced the W175 in India. It includes disc brakes and a 175cc engine, giving a strong performance.
April 2021 The Royal Enfield Meteor 350 was introduced in North America, and the motorcycles are anticipated to be available at dealers in both the US and Canada. The RE Meteor 350 starts at $4,400 in the US.
September 2020 The R18, BMW Motorrad's first flagship cruiser motorcycle, was introduced in India. The 1965 R5 served as a stylistic inspiration for the R18. However, BMW made sure to keep the classic and retro design cues. With a long wheelbase and a low stance, it adheres to the classic cruiser design language.
Cruiser Bike Market Segmentation
Cruiser Bike Engine Capacity Outlook
- Less Than 500cc
- 501cc to 1000 cc
- More Than 1000cc
Cruiser Bike Price Outlook
- Low
- Mid
- High
Cruiser Bike Application Outlook
- Daily Commute
- Touring
Cruiser Bike Regional Outlook
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
Rest of the World
-
Middle East
-
Africa
-
Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
