New York, US, May 10, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Cruiser Bikes Market Research Report Information by Type, Region, and Application - Forecast Till 2030”, the global Cruiser Bikes market research predicts that the market is likely to bolster substantially during the review era from 2022 to 2032 at a substantial growth rate of around 5.90%. The reports further predict that the Cruiser Bikes market size will be nearly USD 105.36 billion by the end of 2032.
Cruiser Bikes Market Overview:
Cruiser motorcycles refer to luxury bikes favored by the younger generation for their aesthetic appeal. These motorcycles are developed to put the rider's feet forward, and the driver meets slightly behind the bike. Cruiser motorcycles have higher-than-average performance engines with stronger brakes, suspension, and horsepower. Cruiser bikes are employed with advanced navigation, autonomous technologies, and infotainment. The global Cruiser Bikes industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the enhanced safety and customizing of bikes.
Competitive Analysis
The listing of the prominent leaders across the global market for Cruiser Bikes includes players such as:
- BMW AG
- Yamaha
- Harley Davidson
- TVS
- Hero Motocorp
- Triumph Motorcycle
- Honda Motor Company
- Suzuki Motor Company
- Piaggio
- Zero Motorcycle
- Among others.
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Furthermore, the increased comfort and sense of luxury brought about by technological advancements is also believed to be one of the crucial parameters enhancing market development worldwide. Moreover, the increased initiatives by major market participants to enhance cruiser motorcycles' design and fuel efficiency are also projected to positively impact the performance of the cruiser bikes market around the globe over the coming years. On the other hand, the elevated likelihood of accidents and increased initial investment costs are likely to restrict the performance of the market.
Cruiser Bikes Market COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Cruiser Bikes market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
Report Scope:
| Report Metrics | Details |
| Market Size 2032 | 2032: USD 105.36 billion |
| CAGR during 2023-2032 | 5.90% CAGR |
| Base Year | 2021 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Engine Capacity, Price, Application, and Region |
| Key Market Opportunities | Growing demand for tourist bikes |
| Key Market Dynamics | Increase technological development New Bike launches |
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Cruiser Bikes Market USP Covered
Market Drivers
The global Cruiser Bikes industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the enhanced safety and customizing of bikes. Furthermore, the increased comfort and sense of luxury brought about by technological advancements is also believed to be one of the crucial parameters enhancing market development worldwide. Moreover, the increased initiatives by major market participants to enhance cruiser motorcycles' design and fuel efficiency are also projected to positively impact the performance of the cruiser bikes market around the globe over the coming years.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated. Furthermore, the elevated likelihood of accidents is also projected to restrict the market's development.
Cruiser Bikes Market Segment Analysis
Among all the price ranges, the more than 1000cc segment is anticipated to lead the global market over the assessment period.
Among all the gasifier applications, the mid category is anticipated to lead the global market over the assessment period.
Among all the application areas, the daily commute segment will likely secure the leading position across the global market over the assessment period.
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Cruiser Bikes Market Regional Analysis
The global market for Cruiser Bikes is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the North American region is anticipated to secure the top position across the global Cruiser Bikes industry over the coming years. The region has Canada and the US as the leading growth contributors. The main parameter supporting the regional market expansion is increased customer comfort. Furthermore, the rising per capita income is also likely to enhance the performance of the regional market bovver the assessment period.
The European regional market is anticipated to develop considerably over the assessment period. The main parameter supporting the development of the regional market is the customization potential of cruiser cycles around the region. The region has leading growth contributors like the UK, Germany, Spain, France, Italy, and the rest of Europe. Furthermore, the adoption of cutting-edge technologies coupled with improved designs is also likely to enhance the performance of the regional market over the coming years.
The Asia-Pacific regional market is anticipated to showcase the maximum growth rate over the assessment period. The region is further fragmented into South Korea, India, Australia, Japan, China, and the rest of Asia-Pacific. The regional market's growth is ascribed to the factors such as the rising demand for high-end motorcycles and the expansion of the local auto industry.
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The Middle East & Africa, and Latin American regional market is anticipated to grow substantially over the assessment era, given the improved passenger safety, increased demand for advanced motorcycles, and rising customer demand for technologically advanced motorcycles.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
