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The global cruiser bike market is set to reach US$ 105.36 BN by 2032, at a 5.90% CAGR between years 2023-2032. This state of market dynamics in the cruzer bike segment highlights a very complex interplay between numerous factors that affect consumer interest, industry trends and competitive arena.
Underlying the cruzer bike market is a shifting consumer palate and lifestyle. Retro nostalgia and a longing for an easier form of riding have spurred the demand for cruzer bikes. These are the bikes that have an easygoing design, with a seating position to deliver both style and comfort for pleasure trips. Market dynamics is also driven by the concern towards sustainability and eco-friendliness.
Increasing environmental concerns, the consumers are turning towards electric cruzer bikes that in their turn lead to a shift towards greener means of transportation. The penetration of electric propulsion technology not only broadens the market reach but also creates many new opportunities for innovation and differentiation among the manufacturers.
Further, the cruzer bike market is influenced by many economic factors. The economic instability affects the consumer’s buying behavior due to its influence on the purchasing power of a consumer. In times of economic prosperity, consumers might devote their additional savings to consume leisure and recreational items such as a cruzer bike.
On the other hand, in times of recession there may be a move towards more cost effectiveness options forcing the manufacturers to have their marketing and product strategies shift accordingly. The competitive landscape is another changing environment of the cruzer bike market. A lot of manufacturers from big brands to the niche players compete in this market share by launching various models that target different consumer groups.
Innovation in the design, technology and features is an very important part of acquiring a competitive advantage. In addition, strategic partnerships, marketing campaigns and distribution channels are other factors that affect the market mechanism as firms attempt to properly promote their products in order to attract more customers.
The cruzer bike market is very affected by the government regulations and also policies pertaining to transportation and emissions. However, with the governments across the globe implementing more rigorous emission standards and prioritizing green transportation alternatives, producers have to adapt their output in order to comply.
The above mutual relationship between the regulatory bodies and the industry determines patterns of development in CRUZER market, leading to inducement towards cleaner alternatives more friendly in terms of the environmental parameters.
Consumer characteristics form part of the many factors that determine market dynamics as different age groups and also cultural backgrounds might have a unique tastes for cruzer bikes.
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
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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
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Middle East
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Africa
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Latin America
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