Cycling Power Meters Market 2022
Global Market Study on Cycling Power Meter: Tourism Industry to Stage New Opportunities Owing to Rise in Demand for Different Bicycle Types. Integration of the Internet of Things (IoT) in Cycling Power Meter Components Trending the Global Market.
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.
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The market for bicycle power metres is predicted to increase steadily over the next few years, but at a good clip. The market’s tardy adoption of bicycles with power metres is the cause of the poor growth. People are changing to better lifestyles, which has shown to be a key factor in the market expansion for cycling power metres. A recent study report by Persistence Market Research named “Cycling Power Meters Market: Global Industry Analysis 2013- 2017 and Forecast 2018-2026” provides additional information about the global market.
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.
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 meters.
What’s Trending the Global Market?
Wireless communication facilities is the new trend in the cycling power meter market. Deployment of advance satellite systems and improvements in networks is creating better wireless communication facilities in the cycling power meter 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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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Cycling Power Meters Market Manufacturers
Cycling Power Meters Market Distributors/Traders/Wholesalers
Cycling Power Meters Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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