Cruiser Bikes Market

Market Overview

The global cruiser bikes market was valued at USD 64.42 Billion in 2022. It is estimated to reach USD 95.73 Billion by 2031, growing at a CAGR of 4.50% during the forecast period (2023–2031). There has been a growth in recreational biking worldwide, expected to drive the global cruiser bikes market, as these bikes are comfortable and easy to ride. Moreover, these cruiser bikes can be customized and personalized according to customers' tastes and preferences. This trend is particularly observed in millennials and Gen-Z groups, boosting the global market.

A cruiser bicycle, sometimes referred to as a beach cruiser or previously known as a motobike, is a type of bicycle that typically features large balloon tires, an upright seating position, a single-speed drivetrain, and a simple steel frame construction, all complemented by distinctive and eye-catching design elements.

Leisure cyclists and travelers favor cruisers for their exceptional stability and user-friendly riding experience. However, their substantial weight and wide tires result in a sluggish pace. Another prevalent characteristic is their capacity to be personalized with attachments such as fenders, lights, and saddle bags. These bicycles are primarily intended for use on paved roads, at low speeds, and for short distances. They belong to the non-racing/non-touring class and are available in heavyweight or middleweight designs under the road bicycle category.

Market Dynamics

Global Cruiser Bikes Market Drivers:

Rising Demand for Recreational Biking

The growing popularity of recreational biking is a complex factor contributing to the thriving cruiser bikes market. According to the Outdoor Industry Association, there has been a significant rise in the popularity of biking for leisure and recreation in recent years, with a 28% increase in participation rates over the past five years.

Cruiser bikes, known for their relaxed design and comfortable riding position, have become the preferred choice for those who desire a perfect combination of comfort and style throughout their bicycling adventures. Thus, the popularity of cruiser bikes has been greatly influenced by bicycle events and community rides, particularly the well-known "Critical Mass" meetings in urban areas. These events have turned cruiser bikes into a symbol of social involvement and promoting a healthy lifestyle.

Customization and Personalization Trends

The emerging trend of customization and personalization creates a lucrative potential for manufacturers in the cruiser bikes market. Modern consumers, particularly those belonging to the millennial and Gen Z groups, are progressively searching for products that mirror their own identities and tastes. Harley-Davidson, a well-established player in the business, has cleverly taken advantage of this trend by implementing its "H-D1 Customization" program. This effort enables customers to customize their bikes by choosing from various options, such as paint colors, wheels, and accessories.

In addition to simple product customization, this approach promotes a more profound bond between consumers and the business, nurturing brand loyalty and increased customer involvement. Moreover, the increasing popularity of specialized and personalized bike workshops, exemplified by companies like Orange County Choppers as featured on famous television programs, highlights the surging demand for custom-made cruiser bikes. These workshops shape consumer tastes and increase demand for uniquely made cruiser motorcycles, frequently featured in popular media.

Global Cruiser Bikes Market Restraint:

Drawbacks of Cruiser Bikes

The presence of defective components, poor construction, and design flaws in cruiser bikes will provide a significant obstacle to the market during the forecast period. Harley Davidson faces challenges in selling its cruiser bikes in certain countries, like India, due to customer perception that the suspension and chassis of these bikes are insufficiently adjusted for roads with numerous potholes.

The primary issues leading to Harley Davidson's lack of success in selling its cruiser bikes in emerging markets like India are defective brakes and damaged clutch plates. Some cruiser bikes, like the 2017 Street Glide, suffer from substandard construction, leading to problems with the clutch, oil pump, and brakes. Most cruiser bikes are equipped with a single gear, and while they are easy to operate, they are also notably sluggish in speed. These problems can hinder the market expansion.

Global Cruiser Bikes Market Opportunities:

Introduction of Novel Cruiser Bikes

The key market players are introducing novel cruiser bikes as consumers demand environmentally friendly products. For instance, in May 2023, Kabira Mobility, an electric two-wheeler manufacturer, introduced its leading electric cruiser bike, the KM5000. This bike can reach a top speed of 188 kilometers per hour and offers a range of 344 kilometers on a single charge. The company intends to officially debut the bicycle later this year, with deliveries projected to begin in 2024.

Similarly, in April 2023, Komaki unveiled an enhanced version of its renowned motorcycle, the Komaki Ranger. According to the business, the vehicle is India's first electric cruiser bike. The vehicle has a 7-inch TFT screen with onboard navigation and a sound system. It has a range of 200–250 kilometers on a single charge. The OEM has enhanced the storage capacity to 50 liters. Therefore, the surge in new product launches is expected to generate opportunities for market growth.

Regional Analysis

Asia-Pacific Dominates the Global Market

Based on region, the global cruiser bikes market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Asia-Pacific is the most significant global cruiser bikes market shareholder and is estimated to expand significantly during the forecast period. Asia-Pacific is also the fastest-growing region. The cruiser bikes market in the Asia-Pacific region is growing rapidly due to factors like urbanization, a growing middle-class population, and a rising preference for eco-friendly transportation options. Due to the rapid urbanization of significant nations such as China and India, there is an increasing demand for effective and environmentally friendly transportation alternatives. Urban settings increasingly embrace cruiser bikes due to their straightforward design and environmentally friendly nature. According to the Asian Development Outlook, the urban population in Asia is expected to reach 2.7 billion by 2050, highlighting the increasing market potential for cruiser bikes.

The key market players are also taking initiatives to strengthen their position in the highly competitive regional market. For instance, in July 2023, Firefox Bikes introduced India's first automatic cruiser bike, the 'Infinity 700C'. The Firefox Infinity 700C features the inaugural Continuous Variable Planetary system engineered by enviolo. This hub platform enables seamless shifting regardless of the condition. With lightweight wheels, the Firefox Infinity 700C strives to provide an enjoyable riding experience. Similarly, TVS has obtained a new design patent for a cruiser-style motorcycle for the Indian market. The bike could rival the Royal Enfield Super Meteor 650. All these factors together contribute to the regional market expansion.

North America exerts significant influence in the global Cruiser Bikes market, benefiting from a well-established riding culture and a strong preference for recreational activities. The National Bicycle Dealers Association reported a significant rise in bike sales in the United States, with a 65% gain in 2020 compared to the previous year. The surge in popularity of biking, which can be ascribed to the demand for outdoor leisure and the necessity for socially distant activities amid the pandemic, has had a substantial impact on the cruiser bikes market. There has been a significant increase in the desire for personalized cruiser bikes in the North American market. Harley-Davidson and similar companies have taken advantage of this trend by allowing customers in the area to customize their motorcycles. The customer base has responded well to combining the "Made in America" ideology with the appeal of distinctive, personalized cruisers.

Moreover, there has been a launch of new products in this market. For instance, in April 2021, The Royal Enfield Meteor 350 was presented in North America, and it is anticipated that the bikes will be available for purchase at dealerships in both the United States and Canada within the upcoming weeks. The Meteor 350 is promoted as a cruiser bike with effortless cruising and approachable performance. Boasting a modest power output of slightly over 20 bhp and a maximum speed of approximately 120 kilometers per hour, the Meteor 350 falls short in speed and performance compared to the conventional American cruiser motorcycles. However, it will have sufficient power for infrequent highway drives, where it will be frequently utilized. Therefore, the aspects above are anticipated to augment market growth.

Segmental Analysis

The global cruiser bikes market is segmented by engine capacity, price range, and application.

Based on engine capacity, the global cruiser bikes market is bifurcated into less than 500cc, 500-1000cc, and more than 1000cc. 

An engine with a capacity below 500 cubic centimeters (cc) is usually called a "sub-500cc" engine. Cruiser bikes with engine sizes below 500cc are categorized as lightweight. They are generally better suited for beginner riders or those seeking a more economical and easily controllable choice, making them extremely popular in urban settings. In addition, the key players are introducing new bikes in this segment. For instance, in August 2023, Royal Enfield is preparing to unveil a new power cruiser built upon its 450cc chassis. The expected date of launch is 2025.

Additionally, it is rumored that the Ducati Diavel inspired the development of the motorcycle, designated K1D, which will be marketed to both the Indian and international markets. The power cruiser is anticipated to provide a pleasurable riding encounter with reclined handlebars, a low seat, and a laid-back riding posture. Such factors boost the segment's growth.

Based on the price range, the global cruiser bikes market is segmented into low, medium, and high. 

The medium segment held the most market share and is expected to maintain its prominence during the projection period, with a consistent CAGR. The expansion of the transport market is primarily driven by the rising disposable income and the increasing demand for technologically improved automobiles. The vehicles in the middle price range also include upgraded aesthetics and greater fuel economy.

Based on application, the global cruiser bikes market is divided into daily commutes and touring.

Cruiser bikes can be practical and pleasurable for regular transportation, depending on individual requirements and preferences. The standard riding position is generally relaxed and upright. This can provide enhanced comfort for daily commuting, particularly for individuals with a brief to moderate commute. These bikes often feature a minimalist design with fewer gears and components than other bike types. This can lead to reduced maintenance needs, making them a practical option for everyday usage.

Moreover, they are designed to provide effortless and comfortable journeys on even and level ground. A cruiser bike can be efficient and pleasurable if the daily commute consists of predominantly flat routes. Cruiser bicycles are frequently more cost-effective than specialized bicycles designed for commuting or racing.

Recent Developments

• August 2023- Ola Electric unveiled four electric bicycles during its End of Internal Combustion Engine (ICE) Part 1 event on Independence Day, 2023. By the end of 2024, the Ola company plans to launch four different models of bicycles: the Ola Cruiser, the Ola Roadster, the Ola Adventure, and the Ola DiamondHead.

• October 2023- A new motorcycle model, the Calibro 650, was introduced by Moto Morini. The latest cruiser bike features a round headlamp encircled by plastic, a small smoked visor, a fuel tank that swoopes downwards, a scooped split seat, and a relaxed rider triangle are all components of the Calibro 650's cruiser-appropriate design. A two-tone paint scheme comprised of black and red color covers its exterior.