Cruiser Bikes Global Market Report 2024

The cruiser bikes market size has grown strongly in recent years. It will grow from $66.47 billion in 2023 to $70.95 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The expansion observed during the historical period can be ascribed to state-sponsored cyber warfare, the escalating cyber threat landscape, the globalized nature of cyber conflict, the integration of cyber capabilities into military operations, and the emergence of nation-state threat actors.

The cruiser bikes market size is expected to see strong growth in the next few years. It will grow to $87.78 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period can be linked to the integration of AI and machine learning, the broadening of attack surfaces, vulnerabilities associated with 5G technology, the adoption of hybrid warfare strategies, and the emergence of non-state actors. Key trends expected in the forecast period encompass heightened collaboration in cybersecurity efforts, an escalating cybersecurity arms race, the targeting of critical infrastructure, challenges in attribution and false flags, and the ascent of cyber mercenaries.

The growth of the cruiser bikes market is anticipated to be fueled by an increasing demand for luxury motorcycles. Luxury motorcycles, characterized by premium features, advanced engineering, and superior craftsmanship, include cruiser bikes renowned for their comfort-oriented design and relaxed riding experience. Notably, Harley-Davidson Inc., a leading US-based motorcycle company, reported a global sales increase, reaching 194,256 motorcycles in 2021, marking a 7.7% rise from 2020's 180,248 units. Additionally, BMW Motorrad, a Germany-based motorcycle company, recorded a 4.4% year-over-year increase in global motorcycle and scooter sales, totaling 202,895 units in 2022. With Asia leading in deliveries with 46,332 units, followed by North America and Latin America, the surge in luxury motorcycle demand propels the cruiser bike market's growth.

The cruiser bike market is expected to witness growth driven by the expanding tourism industry. Cruiser bikes serve as a popular choice for tourists seeking scenic exploration and eco-friendly transportation at various destinations. According to the World Travel and Tourism Council, the global travel and tourism sector exhibited substantial growth in 2022, contributing 7.6% to global GDP, a 22% increase. The domestic visitor spending also saw a remarkable surge of 20.4% in the same year. This signifies the integral role cruiser bikes play in enhancing visitors' experiences and contributing to the growth of the tourism industry, thereby driving the cruiser bike market.

The high cost associated with cruiser bikes is expected to hinder the market's growth during the forecast period. Cruiser bikes, designed for optimal comfort and control, often involve high development costs due to advanced technologies and complex designs. For instance, according to Monimoto UAB, a Lithuania-based GPS tracker developer, the cost of cruiser motorcycles, with their attractive shapes and multi-level manufacturing processes, ranges from $4,400 to $24,000, with an average price of approximately $12,100. This high cost of entry poses a challenge for potential buyers and acts as a restraining factor on the cruiser bikes market.

Major companies in the cruiser bikes market are strategically focusing on introducing entry-level cruiser bikes through collaborations. Entry-level cruiser bikes typically feature engine displacements below 500 CC and cater to a broader consumer base. In a collaborative effort, Harley-Davidson and Hero MotoCorp launched the Harley-Davidson X 440 in India, an air- or oil-cooled single-cylinder motorcycle with a modern-retro design aesthetic. This initiative aims to make cruiser bikes more accessible and affordable for a wider audience, contributing to market growth.

In February 2023, Sonic Automotive Inc., a US-based automobile company, acquired the Black Hills Harley-Davidson dealership. This acquisition, which involved an undisclosed amount, positions Sonic Automotive Inc. strategically in the growing Sturgis market. Black Hills Harley-Davidson is a full-service dealership in the US, specializing in selling, servicing, and renting Harley-Davidson motorcycles.

Major companies operating in the cruiser bikes market report are Honda Motor Company, Suzuki Motor Company, Hyosung Corporation, Yamaha Motor Company, Kawasaki Heavy Industries Ltd., Polaris Inc., Harley Davidson Inc., The Husqvarna Group, Bajaj Auto Limited, Hero Moto Corp, TVS Motor Company, Ducati Motor Holding, Royal Enfield, Triumph Motorcycles Ltd., Zero Motorcycles Inc., Big Dog Motorcycles, SWM Motorcycles, Cleveland CycleWerks, UM-Motorcycles , Zhongneng Vehicle Group, Arch Motorcycle Company, Boss Hoss Cycles, Curtiss Motorcycles, BMW Motorrad, Jawa Moto.

North America was the largest region in the cruiser bikes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cruiser bikes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cruiser bike market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cruiser motorcycles are a type of bike designed to provide a laid-back and comfortable riding experience rather than focusing on high-speed performance. Typically, these bikes feature low seat heights, enabling riders to place their feet flat on the ground when coming to a stop.

Cruiser bikes are categorized based on engine capacities, which include less than 500 cubic centimeters (CC), 501cc to 1000 cubic centimeters (CC), and more than 1000 cubic centimeters (CC). Less than 500 cubic centimeters (CC) denotes motorcycles with engine displacements smaller than 500 cubic centimeters. Motorcycles falling in this category are well-suited for urban commuting, offering cost-effective transportation through traffic and easy maneuverability. They are favored choices for daily riders and new motorcyclists due to their practicality. These bikes are available in various price ranges, such as low, mid, and high, and find applications in daily commutes and touring.

The cruiser bikes market research report is one of a series of new reports that provides cruiser bikes market statistics, including cruiser bikes industry global market size, regional shares, competitors with a cruiser bikes market share, detailed cruiser bikes market segments, market trends and opportunities, and any further data you may need to thrive in the cruiser bikes industry. This cruiser bikes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cruiser bike market consists of sales of beach cruiser bikes, low rider cruiser bikes, stretch cruiser bikes, chopper cruiser bikes. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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