The Cruiser Bikes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s 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 growth in the historic period can be attributed to state-sponsored cyber warfare, increasing cyber threat landscape, globalization of cyber conflict, military integration of cyber capabilities, rise 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 growth in the forecast period can be attributed to ai and machine learning integration, expansion of attack surfaces, 5g technology vulnerabilities, hybrid warfare strategies, emergence of non-state actors. Major trends in the forecast period include increased cybersecurity collaboration, cybersecurity arms race, targeting critical infrastructure, attribution challenges and false flags, rise of cyber mercenaries.
Increasing demand for luxury motorcycles is expected to propel the growth of the cruiser bikes market going forward. Luxury motorcycles refer to premium two-wheeled vehicles that offer a combination of advanced engineering, top-tier craftsmanship, and exceptional performance. Cruiser bikes are a type of luxury motorcycle because of their high-end features, premium materials, comfort-oriented design, and relaxed riding experience. For instance, in February 2023, according to Harley-Davidson Inc., a US-based motorcycle company, they sold 194,256 motorcycles worldwide in 2021. This represents a 7.7% increase compared to 2020, when they delivered 180,248 motorcycles. Furthermore, in January 2023, according to BMW Motorrad, a Germany-based motorcycle company, a total of 202,895 motorcycles and scooters were sold globally in 2022, indicating a 4.4% increase from the previous year. The biggest market for these vehicles was Asia, which saw 46,332 units delivered, followed by North America and Latin America with 20,295 units and 25,480 units, respectively. Therefore, increasing demand for luxury motorcycles is driving the growth of the cruiser bike market.
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The cruiser bikes market covered in this report is segmented –
1) By Engine Capacity: Less Than 500 Cubic Capacity (CC), 501cc to 1000 Cubic Capacity (CC), More Than 1000 Cubic Capacity (CC)
2) By Price: Low, Mid, High
3) By Application: Daily Commute, Touring
Major companies operating in the cruiser bikes market are increasing their focus on introducing entry-level cruiser bikes through collaborations to gain a competitive edge in the market. Entry-level cruiser bikes are a category of motorcycles characterized by their relatively modest engine displacements, typically below 500 CC. For instance, in July 2023, Harley-Davidson, a US-based cruiser bike manufacturer, in partnership with Hero MotoCorp, an India-based motorcycle manufacturer, launched the Harley-Davidson X 440 in India. The Harley-Davidson X440, jointly developed by Harley-Davidson and Hero MotoCorp, is an air- or oil-cooled single-cylinder motorcycle with a single exhaust. Its entry-level, most affordable cruiser motorbike uses a modern-retro design aesthetic, with styling that is influenced by the Harley-Davidson XR1200. The motorcycle has a teardrop-shaped fuel tank, a round fully digital instrument cluster, a round LED headlamp, and a short tail section. Other standout features include a flat handlebar, machined alloy wheels, and round LED indicators.
The cruiser bikes market report table of contents includes:
1. Executive Summary
2.Cruiser Bikes Market Characteristics
3.Cruiser Bikes Market Trends And Strategies
4.Cruiser Bikes Market analysis
5.Cruiser Bikes Market Size And Growth
6.Cruiser Bikes Segmentation
7.Cruiser Bikes Regional And Country Analysis
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27.Cruiser Bikes Competitive Landscape And Company Profiles
28.Cruiser Bikes Key Mergers And Acquisitions
29.Cruiser Bikes Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Honda Motor Company
- Suzuki Motor Company
- Hyosung Corporation
- Yamaha Motor Company
- Kawasaki Heavy Industries Ltd.
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