PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1314960
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1314960
Global Cruiser Bikes Market is valued at approximately USD 69.0 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2023-2030. A cruiser bike is a bicycle that is designed for recreational and comfortable cycling, it has an upright seating posture, a wide and oversized saddle, balloon tires, and a single-speed drivetrain. It can be customized with accessories such as fenders, lights, and saddle bags. It is suitable for use on paved roads and at low speeds/distances. The Cruiser Bikes Market is expanding because of factors such as increased demand for advanced motorcycles and rising environmental awareness. Moreover, rising environmental awareness has increase demand for eco-friendly transportation alternatives like bicycles. Cruiser bikes are a popular choice for sustainable commuting, reducing carbon emissions and promoting an environmentally conscious lifestyle.
According to Statista, the global motorbike market is projected to experience significant growth between 2023 and 2027, with an estimated revenue of USD 39.7 billion, reflecting a substantial increase of 30.79%. By 2027, the market is anticipated to reach a revenue of USD 168.58 billion. Furthermore, in January 2022, China produced approximately 1.42 million motorcycles. The biggest monthly motorcycle manufacturing record for 2021 occurred in April when about 1.91 million units were produced. In addition, technological advancement in cruiser bikes and increased demand for motorcycles. However, high initial investment cost and a high risk of accidents stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Cruiser Bikes Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia Pacific is dominating the region in 2022 owing to the factors such as, expansion of the automotive industry in the area and increased demand for luxurious motorbikes are expected to increase the growth of the market. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as the rise in per capita income of consumers in the region, enhanced designs, and the use of cutting-edge technology are anticipated to fuel market expansion.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable