Cruiser Bikes Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, France, UK, Canada, India - Size and Forecast 2024-2028

Cruiser Bikes Market Size 2024-2028 

The cruiser bikes market size is forecast to increase by USD 13.19 billion and is estimated to grow at a CAGR of 4.5% between 2023 and 2028. The motorbike industry is experiencing a surge in demand due to the increasing preference for technologically advanced two-wheelers. With the advent of smart features such as GPS navigation, Bluetooth connectivity, and advanced safety systems, motorbikes have evolved from mere modes of transportation to sophisticated machines. Additionally, there is a growing trend towards luxurious bikes, catering to the demand for comfort and style. Furthermore, the rise of bike touring activities has fueled the need for motorbikes that offer superior performance and endurance. Manufacturers are responding to these trends by introducing innovative models that blend technology, luxury, and performance, making the motorbike market an exciting space to watch.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

The market is a segment of the motorcycle industry that caters to consumers seeking comfortable, stylish, and powerful vehicles. Cruiser bikes, also known as touring bikes or power cruisers, are characterized by their large V-twins engines, low seats, and long wheelbases. These bikes offer a unique riding experience, allowing riders to enjoy long rides in comfort and style. The market for cruiser bikes is witnessing significant growth due to the increasing demand for technologically advanced vehicles. High-tech features such as GPS navigation, infotainment systems, and AI technologies are becoming increasingly popular among consumers. Moreover, the emergence of battery-powered bikes is expected to revolutionize the market, offering consumers the benefits of fuel efficiency and low maintenance. The market can be segmented based on engine capacity, price,  Low price, High price and features. Engine capacity ranges from low (250cc-750cc) to medium (751cc-1250cc) and high (above 1251cc). Price ranges from low, medium, to high, with each segment catering to different consumer segments. Fuel efficiency and improved designs are key factors driving the growth of the market. The future of the market looks promising, with novel systems and autonomous technologies expected to further enhance the riding experience. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Rising demand from customers for technologically advanced motorbikes is notably driving market growth. Cruiser bikes continue to be a popular choice for motorbike enthusiasts due to their unique design and features. These vehicles offer a comfortable riding experience, making them an ideal option for daily commutes and touring applications.

Moreover, the engine capacity of cruiser bikes varies, with models ranging from low-price options to high-end, technically advanced vehicles. Fuel efficiency is another important factor for many buyers, making fuel-efficient cruiser bikes a desirable choice. Manufacturers such as Honda Motor Company and others are continually improving cruiser bike designs to cater to diverse customer needs. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

New product launches is the key trend in the market. Vendors in the market are continually introducing new models with enhanced features and advanced technologies to cater to various customer segments. For instance, Honda unveiled the Honda H'ness CB350 Anniversary Edition in India in December 2021, featuring a 349.3cc engine and improved designs.

Moreover, Kawasaki launched the W175 in India in July 2021, boasting a 175cc engine, disc brakes, and strong torque. In April 2021, Royal Enfield introduced the Meteor 350 in the USA, which offers a daily commute application with a medium price range. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

Faulty parts, poor build quality, and design issues associated with cruiser bikes is the major challenge that affects the growth of the market. The cruiser bike market experiences varying demand based on factors such as engine capacity, price, and application.

Moreover, While technically advanced, high-price cruisers appeal to touring enthusiasts, medium-priced options cater to daily commute needs, and low-priced models target budget-conscious consumers. However, challenges persist, including the limited appeal of some brands in specific markets. Hence, the above factors will impede the growth of the market during the forecast period

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Bayerische Motoren Werke AG: The company offers cruiser bikes under the brand name R18, that is full of character with design features such as the tear drop fuel tank, elongated and low flyline and the double cradle frame.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Bajaj Auto Ltd.
• Classic Legends Pvt. Ltd.
• Eicher Motors Ltd.
• Harley Davidson Inc.
• Hero MotoCorp Ltd
• Honda Motor Co. Ltd.
• Kawasaki Heavy Industries Ltd.
• KLB KOMAKI PVT LTD
• LVMC Holdings Co. Ltd.
• Piaggio and C. Spa
• Polaris Inc.
• Suzuki Motor Corp.
• Triumph Motorcycles Ltd.
• TVS Motor Co. Ltd.
• Volkswagen AG
• Yamaha Motor Co. Ltd.
• Zero Motorcycles Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By Engine Capacity 

The more than 1000 cc segment is estimated to witness significant growth during the forecast period. The cruiser bikes segment of the motorcycle market is witnessing significant growth due to the rising trend of touring activities among consumers worldwide. These bikes, characterized by their large engines and comfortable riding positions, offer an immersive experience for long-distance riding.

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The more than 1000 cc segment was the largest segment and valued at USD 21.85 billion in 2018. High-cc cruiser bikes, with engines exceeding 1000cc, are particularly popular among consumers seeking more power and torque. Brands such as Harley-Davidson, Triumph, and Ducati lead the market in this category. The demand for high-cc cruiser bikes is driven by several factors, including the increasing popularity of touring activities and the desire for enhanced power and torque.  Hence, such factors are fuelling the growth of this segment during the forecast period.

Regional Analysis

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North America is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Cruiser bikes continue to be a popular choice among consumers in the motorcycle market, offering a comfortable riding experience for daily commutes and long-distance touring. In contrast to sportbikes, which prioritize speed and agility, cruiser bikes focus on style and comfort. However, the motorcycle industry is witnessing significant advancements, with high-tech motorcycles integrating novel systems such as navigation, infotainment, and autonomous technologies. Electric bikes, fueled by renewable resources like solar energy, electricity, and artificial intelligence (AI), are gaining traction among eco-conscious consumers. Hence, such factors are driving the market in North America during the forecast period.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments

• Engine Capacity Outlook
  • More than 1000 cc
  • Less than 500 cc
  • 501 cc to 1000 cc
• Application Outlook
  • Large Enterprise
  • Small and Medium Enterprise
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

Cruiser bikes, a popular segment in the Motorcycles market, cater to consumers seeking comfort and style. Unlike Sportbikes, Cruiser bikes prioritize a relaxed riding position and low seat height. The market is witnessing significant growth due to the increasing demand for high-tech motorcycles. Novel systems, such as GPS and AI technologies, are being integrated into Cruiser bikes, providing consumers with advanced navigation and infotainment features. Autonomous technologies, sensor systems, and safety features are also gaining traction in the market. Leading motorcycle manufacturers are focusing on developing cutting-edge technology, including self-balancing technologies and renewable resources like solar energy, to cater to the evolving needs of consumers. Electric bikes are another emerging trend in the market. With the increasing availability of charging stations and electric chargers, electric Cruiser bikes are becoming a viable alternative to gas-powered motorbikes for daily commute and long-distance riding. Sports bike riders are also showing interest in Cruiser bikes, with V-twins and power cruisers being popular choices. The integration of AI technologies and driver assistance systems in Cruiser bikes is expected to further boost market growth. In conclusion, the market is witnessing significant innovation, with manufacturers focusing on integrating advanced technologies, renewable resources, and safety features to cater to the evolving needs of consumers.

Moreover, in the realm of transportation, the dynamics between traditional internal combustion engine (ICE) vehicles and emerging electric vehicles are shifting. While gas-powered vehicles have long dominated the market, the rise of environmentally friendly electric vehicles has spurred innovation in electronics and concept bike design. For enthusiasts, the allure of sport bikes and luxurious motorbikes spans across various price ranges, from low-priced models to high-priced options tailored for touring applications. Medium-priced cruiser bikes cater to those seeking a balance of performance and affordability, while modifications in cruiser bikes offer personalized touches to enhance riding experience. Public transportation sees advancements with vehicles supporting 120- and 240-volt plugs, accommodating electric vehicles and easing infrastructure transition. This shift reflects a broader trend towards sustainable mobility solutions, where sport bike users and commuters alike benefit from evolving technologies and design innovations in the automotive industry.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies