Cycling Power Meters Market 2022
The global Cycling Power Meters market is projected to have a good future in the coming years, but is expected to grow at a sluggish rate. The slow growth is the result of slow awareness of bicycles with power meters in the market. People are adopting healthier lifestyles, which has turned out to be a major driver behind the growth of the Cycling Power Meters market.
Cycling Power Meters Market value of over US$ 500 Mn by the end of 2026, growing at a CAGR of 4.1% during the forecast period 2018–2026.
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The report forecasts the global bicycle accessories market to grow at a healthy rate over the forecast period owing to the significant increase in the global demand for bicycles, with sales expected to increase by almost 20%. Furthermore, sales are supported by stable demand in APAC and Europe and continued but slower growth in emerging markets, especially China. This has contributed to the growth in revenue of the Cycling Power Meters market, which is expected to grow at a CAGR of 3.7% during the forecast period, reaching a market value of over US$ 780 Mn by the end of 2026.
Key Companies-
- Garmin Ltd.
- Pioneer Corp.
- Shimano Inc.
- SRAM LLC
- SRM GmbH
- Rotor Bike Components
- Favero Electronics Srl
- Stages Cycling, LLC
- Saris Cycling Group
- Verve Cycling
- Watteam Ltd.
- 4iiii Innovations Inc.
- Power2Max GmbH
- Others.
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Shift Towards Eco-Friendly Lifestyle Primary Revenue Driver
Along with health consciousness, there is also a shift towards convenience. The traffic congestion in highly populated countries has become a serious issue, which makes people look for easier modes of transport. The pollution caused due to the emission from fuel-driven vehicles has increased to a never before high level in the recent past. Meanwhile, this has been capitalized as an opportunity for green solutions providers and manufacturers. Bicycle manufacturers and power meters providers can exploit these conditions as an opportunity to expand and increase their business. The eco-friendly mode of transport with bicycle as a medium has already gained popularity and is a prominent trend in European countries such as Denmark, The Netherlands, and London. The government is also moving in the same direction and has implemented stringent regulations on vehicle emissions.
These conditions have resulted in some new trends such as introduction of bicycles in the corporate sector. In regions like North America and Europe, offices and corporate sectors have been using bicycles and electric vehicles as modes of transport inside their campuses and it is mandatory that every employee should follow this in order to improve the air quality and decrease the pollution index inside the companies. These factors are boosting revenue growth of the global market for Cycling Power Meterss.
What’s Trending the Global Market?
Wireless communication facilities is the new trend in the Cycling Power Meters market. Deployment of advance satellite systems and improvements in networks is creating better wireless communication facilities in the Cycling Power Meters market. This has significantly rendered the meters efficient and reduced the burden of wires and connection related infrastructure. The bicycle industry is also adopting the trend of wireless technologies resulting in more sophistication in cycle accessories. Many companies are offering simplified power meters with wireless sensors and controllers. These may demand higher component costs but significantly reduce the cost involved in wiring layups. This also includes integration of the Internet of Things, which facilitates terminals with intelligent operations of various components and systems that are interconnected. IoT offers the next level of automation by setting up interactive systems between different sensors and cycling systems and enables self-detection and switching off of the components.
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Key Questions Answered in Cycling Power Meters Market Report –
Who are the Major Manufacturers and Suppliers of Cycling Power Meters?
What will the Cycling Power Meters Market growth rate in Future?
What are the key factors driving the global Cycling Power Meters Market?
Who are the key manufacturers in Cycling Power Meters Market space?
What are the opportunities and threats faced by the vendors in the global Cycling Power Meters industry?
What are sales, revenue, and price analysis by regions of Cycling Power Meters industry?
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