The global cruiser bikes market was valued at $61.99 billion in 2020, and is projected to reach $101.98 billion by 2030, registering a CAGR of 5.5% from 2021 to 2030.
Cruiser bikes are luxurious bikes that are meant for travelling purpose as well as are preferred among individuals for their aesthetic looks. Cruiser bikes initially originated in early 20th century in North America, which were offered by some of the key manufacturers such as Harley-Davidson, Excelsior and Henderson. Cruiser bikes are made in such a style that the feet of the driver are placed forward on the bike while the driver sits slightly at the back on the bike. Typical cruiser engines emphasize easy ride-ability & shifting, with plenty of low-end torque but not necessarily large amounts of horsepower, traditionally V-twins but inline engines have become more common. Cruiser bikes with greater performance than usual, including more horsepower, stronger brakes and better suspension, are often called power cruisers.
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Companies covered in this report study:
• BMW AG
• Harley Davidson
• Hero Motocorp
• Honda Motor Company
• Suzuki Motor Company
• Triumph Motorcycle
• Zero Motorcycle
Factors such as rising demand from customers for technologically advanced motor bikes, improvement in rider’s safety and increased demand for advanced motorcycles supplements the growth of the global cruiser bikes market. Moreover, the factors such as high initial investment cost and high risk of accidents hampers the growth of the global market. However, increasing initiatives regarding the design and development of innovative systems and introduction of advanced technologies in bikes are the factors that are expected to create a positive impact; thus, supplementing the growth of the cruiser bikes market across the globe.
The global cruiser bikes market has been segmented on the basis of engine capacity, price, application and region. Based on engine capacity, the market has been segmented into 250cc to 500cc, 500cc to 800cc, 800cc to 1600cc and >1600cc. Based on price, the market has been segmented into low, mid, and high. Based on the application, the market has been segmented into daily commute and touring. By region, the global market has been studied across North America, Europe, Asia-Pacific and LAMEA.
Key Market Segments:
By Engine Capacity
• Less Than 500cc
• 501cc to 1000 cc
• More Than 1000cc
• Daily Commute
Motorbikes are the most used conveyance option to travel from one location to another. They let the riders move through constricted spaces, are fast & highly maneuverable, and offer a thrilling experience while traveling on different terrains. Over the years, different kinds of motorcycles such as sport bikes, cruiser bikes, touring bikes, and mopeds have been launched to cater to different customer needs. The buyers of motorcycles have well-accepted electric bikes, which is increasing the penetration of electric bikes globally. Furthermore, electric bikes produce zero emissions, superior power output, reduced maintenance, and offer unique designs, which are expected to boost their demand over the years.
Increased demand for advanced motorcycles
In the past five years, with the rapid advancement of motorbike technology, it can be said that the future of motor bikes has arrived. The increasing disposable income of consumers, improvement in living standards, the increase in the number of young people, and the changing preference of the elderly to own a vehicle instead of taking public transportation, which has increased the demand for these bikes.
Also, the launch of effective and better products, the increase in sports bike users, and the growing trend of customization are factors aiding the growth of the cruiser bikes market. Moreover, the technological development in manufacturing processes, designing, and electronics and the growing demand for safety features and driver assistance to provide a safe and comfortable environment, especially for long-distance riding, is further propelling the demand for motor bikes. Apart from that, several manufacturers are inventing techniques to build bikes that will run on eco-friendly solar energy, gas, or electricity resources. These efforts are gaining the attraction of environmentalists.
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