Cruiser Bikes Market Statistics 2021-2030:
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.
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.
The key players profiled in the global cruiser bikes market include BMW AG, Harley Davidson, Hero Motocorp, Honda Motor Company, Piaggio, Suzuki Motor Company, Triumph Motorcycle, TVS, Yamaha and Zero Motorcycle.
By Engine Capacity
501cc to 1000cc is projected as the most lucrative segments
Rising demand from customers for technologically advanced motor bikes
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.
With an increasing number of cars being fitted with advanced navigation, infotainment, telematics, and autonomous technologies, the demand for such features in bikes is anticipated to increase in the coming years. While a rising number of companies are installing features such as GPS and connected bikes, some companies are developing bikes that will offer a superior driving experience to riders. Battery-powered bikes will be capable of self-balancing and will be able to stand upright even at extremely low speeds. By installing state-of-the-art sensor systems and AI technologies, bikes would offer features that will cater to the requirements of a skilled as well as an untrained rider. Hence, rise in demand for technologically advanced bikes is expected to propel the growth of the global bikes market, thereby creating a positive impact on the growth of global cruiser bikes market during the forecast timeframe.
By Price
Mid is projected as the most lucrative segments
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.
By Application
Daily Commute is projected as the most lucrative segments
High risk of accidents
Furthermore, as the technology is not matured enough, apart from China, the sales of the electric vehicles are extremely less as compared to the internal combustion engine (ICE) vehicle sale. In addition, although Tesla, an American electric vehicle and clean energy company based in Palo Alto, California, is expanding its network of chargers, they are designed specifically for Tesla vehicles. The automotive industry has standardized 120- and 240-volt plugs, which are primarily used in homes but have not yet set a standard on the plugs or ports that can charge vehicles in 30 minutes or less. Thus, all these factors coupled with the different prices at charging stations altogether are responsible for hindering the growth of the global cruiser bikes market.
Increasing initiatives regarding the design and development of innovative systems
Leading motorcycle manufacturers have made significant technological advancements in the design of bikes to make them more efficient, responsive, and safe. In recent years, several companies have revealed their concept bike design, which is expected to attract large number of customers from across the globe. The manufacturers such as BMW, Kawasaki, Honda, and Yamaha, are designing bikes by leveraging advanced AI and self-balancing technologies to enable the bikes to detect and act instantaneously according to the variations in the environment. For instance, in 2017, AB Dynamics and AutoRD showcased the Autonomous BMW C1 calling it the world's first self-driving motorbike. It is equipped with autonomous software, sensors, rebalancing technology, radio controls, and GPS, through which it can drive without a rider. In the same year, Yamaha displayed MOTOROiD—a proof-of-concept model that leverages self-balancing technology and artificial intelligence. Many companies are putting their efforts into making bikes available to customers in the near future. Such initiatives are anticipated to bolster the growth of the global cruiser bikes market.
By Region
Asia-Pacific would exhibit the highest CAGR of 7.4% during 2021-2030.
Covid-19 Impact Analysis
- The outbreak of COVID-19 has resulted in flight cancellations, travel bans, and quarantines, which made massive slowing of the supply chain and logistics activities across the world.
- The pandemic affected almost every dimension of economic activity and individuals globally.
- In addition, vehicle manufacturing firms, which are involved in the production of vehicles have been directly affected by the COVID-19 pandemic.
- The most common reasons for the decline in the growth are attributed to movement restrictions, border controls & closures, and health screening.
- The vehicle industry also registered a decline in the business due to the closure of national & international borders, which has halted the movement of components that are manufactured in other countries and are transported to different manufacturer’s locations.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global cruiser bikes market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall cruiser bikes market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global market with a detailed impact analysis.
- The current cruiser bikes market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Engine Capacity
- Less Than 500cc
- 501cc to 1000 cc
- More Than 1000cc
By Price
- Low
- Mid
- High
By Application
- Daily Commute
- Touring
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- BMW AG
- Harley Davidson
- Hero Motocorp
- Honda Motor Company
- Piaggio
- Suzuki Motor Company
- Triumph Motorcycle
- TVS
- Yamaha
- Zero Motorcycle
Cruiser Bikes Market Report Highlights
| Aspects | Details |
 By ENGINE CAPACITY |
|
 By PRICE |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | HARLEY-DAVIDSON, Suzuki Motor Corporation, YAMAHA MOTOR CO., LTD., PIAGGIO & C. SPA, Hero MotoCorp Ltd., BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT, TVS MOTOR COMPANY, Zero Motorcycles, Inc., HONDA MOTOR CO., LTD., Triumph Motorcycles |
Analyst Review
Cruiser bikes market is supplemented by numerous developments carried out by the top cruiser bikes manufacturers, which has led to the growth of the market. Moreover, the market is supplemented by the developments carried out by different companies such as BWM AG, Harley-Davidson, Hero Motocorp, Yamaha and others. These companies have launched numerous cruiser models as well as has carried out collaborations and partnerships with different companies; thus, boosting the global cruiser bikes market growth.
Moreover, rising demand from customers for technologically advanced motor bikes, improvement in rider’s safety and introduction of advanced bike technologies are some of the factors that are creating numerous opportunities for the growth of the cruiser bikes market across the globe.
Factors such as rising demand from customers for technologically advanced motor bikes, improvement in rider’s safety and increased demand for advanced motorcycles supplement 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, increase in 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 bike market across the globe.
Among the analyzed regions, Europe is the highest revenue contributor, followed by Asia-Pacific, North America and LAMEA. On the basis of forecast analysis, Asia-Pacific is expected to maintain its lead during the forecast period, owing to increase in demand for bikes due to the increased disposable income of individuals across the region.
The global cruiser bike market was valued at $61,992.20 million in 2020, and is projected to reach $101,981.20 million by 2030, registering a CAGR of 5.5%.
Introduction of high performance and cost effective cruiser bikes are upcoming trends in cruiser bikes industry
The sample for global cruiser bikes market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
The sale of vehicles increased owing to the demand for personal mobility is the global impact of Post COVID-19 scenario in cruiser bikes market
Engine capacity is the most influencing segment growing in the cruiser bikes report
The company profiles of the top market players of cruiser bikes market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the cruiser bikes market.
U.S., Germany, UK, France, Mexico are the key matured markets growing in the global cruiser bikes report
Introduction of new bikes followed by the availability of safety features in bikes is the known and unknown adjacencies impacting the cruiser bikes market
Asia-Pacific is will provide more business opportunities for cruiser bikes in future
Product development, product launch and partnership are the key strategies adopted by the top players to increase their revenue in cruiser bikes
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