Press release
Cycling Power Meter Market Steady Growth to be Witnessed by 2025
Global Cycling Power Meter Market: Market Dynamics
A major driver of the cycling power meter market is emergence of cycling as a preferred recreational, fitness, and sports activity. Increasing events of traffic congestion, rising fuel prices, and increasing demand for low-cost transportation in developing countries provide sufficient boost to bicycle industry, which in turn drives the demand for cycling power meter market. The cycling power meter available in the market at present has another major advantage that the power output is independent of the working environment, which makes the device a perfect choice for training purposes. Manufacturers of cycling power meter are adopting new strategies to gain market share in the industry. One of the minor restraints that cycling power meter manufacturers face is increasing popularity of other sports and fitness equipment and weak distribution network.
Global Cycling Power Meter Market: Regional Outlook
It is expected that North America will remain as a significant market for cycling power meter during the forecast period owing to increase in awareness about fitness and increasing popularity of cycling as a sport activity. Asia Pacific is also a potential growing market for cycling power meter, which is supported by large population base and increasing usage of bicycle as a fitness equipment. Government initiatives to promote the need of a clean environment, sustainable transportation, and a healthier life style in this region is augmenting the demand of cycling power meter. Hence, Asia Pacific is expected to witness significant demand in the global cycling power meter market during the forecast period. In addition to this, increase in per capita income, changing lifestyles and stable growth prospects in developing economies are expected to push the demand for cycling power meter in this region.
Global Cycling Power Meter Market: Market Segmentation
The global cycling power meter market has been segmented on the basis of power meter type and region. On the basis of power meter type, the cycling power meter market has been segmented into Hub Based Power Meter, Pedals Based Power Meter, Crank Based Power Meter, Footpod Power Meter, and Opposing Force Power Meter. Among these, crank based power meter is more common and widely used cycling power meters.
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Global Cycling Power Meter Market: Market Participants
The global cycling power meter market is highly developing with the increase in awareness about fitness and exercise. Examples of some of the market participants in the global cycling power meter market include, 4iiii Innovations, SHIMANO INC, Schoberer Rad Messtechnik, PowerTap, Verve Cycling, Garmin Ltd, SRAM Corporation, Pioneer Electronics Inc, ROTOR Bike Components, Look Cycle International, and Favero Electronics Srl, among others.
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