The global cycling power meter market is anticipated at US$ 390.6 million in 2022. The sector is gaining pace as companies provide technologically improved cycling power meters with various integrated technologies. Thereby, garnering US$ 647.4 million in 2033, recording a CAGR of 4.7% from 2023 to 2033. The market is likely to secure US$ 410.5 million in 2023.
| Data Points | Key Statistics |
|---|---|
| Cycling Power Meter Market Size Value in 2023 | US$ 410.5 million |
| Cycling Power Meter Market Forecast Value in 2033 | US$ 647.4 million |
| Global Growth Rate | 4.7% CAGR |
| Forecast Period | 2023 to 2033 |
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Opportunities in the Cycling Power Meter Industry:
| Historical CAGR (2018 to 2022) | 6.2% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 4.7% |
From 2018 to 2022 the cycling power meter market expanded at a CAGR of 6.2% The growth of the market is attributed to an increased awareness related to health & fitness among consumers.
Over the forecast period, the demand for sports bikes will increase as more people are using bicycles for recreational, sports, and trekking purposes. Also, there is an increase in the number of biking adventures in recent years, impacting the growth of the cycling power meter market.
According to FMI, on the other hand, the manufacturer has started bringing a flurry of new products to meet various requirements from the customers. These factors will aid the growth of the cycling power meter industry during the forecast period.
Increased per capita disposable income, growing fitness awareness, and increased penetration of small AI-powered devices in domestic lifestyles have created opportunities for market growth. The cycling power meter market is projected to show a noteworthy growth of US$ 647.4 million by the end of the forecast period of 2033.
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Increasing Trend of Healthy and Eco-Friendly Lifestyle
Increased awareness among consumers about the health and fitness associated with cycling is expected to boost the growth of the cycling power meter market. As a power meter helps to analyze how much energy is spent during the exercise, this helps cyclists to monitor their performance and achieve their goals. These power meters can be used in indoor as well as outdoor equipment.
With the increase in the adoption of cycling power meters by there is an increase in the use of bicycles with power meters by health-conscious people. many people are indulging in physical activities and regular exercise this has led to an increase in the bicycle market which in turn is expected to boost the sales of cycling power meters. Also, the rising fuel prices and increased rate of pollution in many countries, drive the sales of cycling power meters.
Technological Advancements to Drive the Growth of the Market During the Forecast Period
Technological advances improved the features of power meters, manufacturers are coming up with new and advanced power meters that are waterproof, durable, and drop-resistant.
The launch of technically advanced power meters by manufacturers and advancement in development technology creates substantial opportunities for growth of the market during the forecast period. These cycling power meters are highly preferred by athletes and coaches to improve performance.
The cycling power meter market continues to evolve with advanced and new technology being integrated with power meters to provide accurate performance insights.
Lack of Dedicated Cycling Track to Hamper the Growth of the Market
The bicycle market faces a lot of limitations due to the current lifestyle of people. The lack of dedicated cycling tracks and lack of awareness among the different users from developing and underdeveloped regions are some of the factors which may hamper the growth of the cycling power meter market. The rapid changes in technology and the rapidly changing designs of bicycles may pose a challenge to designing power meters.
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Increased Number of Health-Conscious People in the Region to Boost the Growth of the Cycling Power Meter Market in the United States
The global cycling power meter market is expected to be dominated by the United States. The market is anticipated to expand at a CAGR of 4.5% and is expected to accumulate a market value of US$ 110.2 million over the forecast period.
The United States remains one of the lucrative markets for cycling power meters throughout the forecast period owing to the presence of a high number of tech-savvy customers in the region and increased awareness about fitness and health.
The governments in the region promote the use of bicycles and cycling is becoming more popular in the united states as exercise, and recreation.
The Rapidly Growing Bicycle Industry to Boost the Growth of the Market in the United Kingdom
The cycling power meter sales in the United Kingdom will keep rising at a steady pace with a CAGR of 4.5% and are expected to gain a market value of US$ 22.8 million by the end of the forecast period.
The growing popularity of professional cycling in the region is likely to drive the growth of the cycling power meter market. As many people in the United Kingdom are taking up cycling to stay fit and active, this led to increased demand for cycling power meters which keeps track of cyclist performance.
With advancements in technology, the cycling power meter is becoming more advanced and affordable, which is the major factor driving product demand. As a result, power meters are becoming more popular among the cyclist and the demand for the same is expected to grow during the forecast period.
Increased Spending Power to Drive the Growth of the Market in China
During the assessment period, the cycling power meter market in China is expected to grow at a CAGR of 4.6%. The growth of the market in China is attributed to the presence of a large consumer base and increased health awareness among the consumers and increasing spending power of consumers. The increasing trend of using power meters among the youngster in the region is likely to drive market growth in China
With manufacturing activities consistently gaining pace in tandem with the demand for technology china present a conducive environment for market expansion. Manufacturers in China are producing cycling power meters with advanced features and competitive pricing to inverse the customer base. Also, the easy availability of cycling power meters through online platforms leads to an increase in sales in the market.
Crank Arm-Based Segment Generated High Revenue
Based on mounting type, the crank arm-based segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a CAGR of 5.2% during the forecast period.
The crank arm-based power meter is used to measure the torque applied through the peddles via a strain gauge that is positioned within the crank or crank spider. This power meter is very well protected and in case of an accident or if the bike falls, it is very unlikely that the power meter will be affected by the crash.
Hub-based cycling power meters are measuring devices that are located in the rear hub. Hub-based cycling power meters are some of the most affordable, reliable, and compatible units available in the market. This type of power meter provides benefits such as this system being convenient for swapping it between bikes.
Sports Bicycle Segment to Gain Significant Traction During the Forecast Period
Based on the application the cycling power meter market is segmented into
sports bicycle, mountain bicycle, and road bicycle. Among all these sports bicycle segments remains the top application category expected to expand with a CAGR of 5.4% throughout the forecast period.
Sports bicycles are estimated to account for the prominent market share as these bicycles are largely utilized for different types of professional sports activities such as mountain biking, tracking racing, and triathlon among other
On the other hand, the mountain bicycle segment is the fastest-growing segment in the cycling power meter market.
New players in the cycling power meter market are Limits, BrimBrothers, and iQsquare among others, which are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and creating a larger customer base. For instance
Prominent players in the cycling power meter market are 4iiii Innovations, Inc.; Favero Electronics S.r.l; Garmin Ltd.; Pioneer Corporation; Power2Max GmbH., among others.
Leading players operating in the global cycling power meter market are focusing on intensive research and development for launching innovative products and services in the market.
Product innovation is the key strategy adopted by market players. Brand consciousness and aggressive marketing by top players however make it challenging for new entrants in this market.
The market players are also emphasizing offering cycling power meters with highly improved accuracy and reliability. The market is benefiting from partnerships with a high focus on innovation.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2023 to2033 |
| Market Value in 2022 | US$ 410.5 million |
| Market Value in 2032 | US$ 647.4 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization & Pricing | Available upon Request |
The crack arm-based segment holds high revenue potential.
The United States, China, and the United Kingdom dominate the global market.
The market is forecast to register a CAGR of 4.7% through 2033.
During 2018 to 2022, the market registered a CAGR of 6.2%.
The rising trend of healthy lifestyle are the current market trends.
1. Executive Summary | Cycling Power Meter Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and Their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Mounting Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Mounting Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Mounting Type, 2023 to 2033 5.3.1. Crank Arm-Based 5.3.2. Pedal-Based 5.3.3. Chaining-Based 5.3.4. Hub-Based 5.3.5. Bottom Bracket-Based 5.4. Y-o-Y Growth Trend Analysis By Mounting Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Mounting Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Sports Bicycle 6.3.2. Mountain Bicycle 6.3.3. Road Bicycle 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. Middle East and Africa(MEA) 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Mounting Type 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Mounting Type 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Mounting Type 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Mounting Type 9.3.3. By Application 9.4. Key Takeaways 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Mounting Type 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Mounting Type 10.3.3. By Application 10.4. Key Takeaways 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Singapore 11.2.1.5. Thailand 11.2.1.6. Indonesia 11.2.1.7. Australia 11.2.1.8. New Zealand 11.2.1.9. Rest of Asia Pacific 11.2.2. By Mounting Type 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Mounting Type 11.3.3. By Application 11.4. Key Takeaways 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of Middle East and Africa(MEA) 12.2.2. By Mounting Type 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Mounting Type 12.3.3. By Application 12.4. Key Takeaways 13. Key Countries Market Analysis 13.1. USA 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2022 13.1.2.1. By Mounting Type 13.1.2.2. By Application 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2022 13.2.2.1. By Mounting Type 13.2.2.2. By Application 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2022 13.3.2.1. By Mounting Type 13.3.2.2. By Application 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2022 13.4.2.1. By Mounting Type 13.4.2.2. By Application 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2022 13.5.2.1. By Mounting Type 13.5.2.2. By Application 13.6. United Kingdom 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2022 13.6.2.1. By Mounting Type 13.6.2.2. By Application 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2022 13.7.2.1. By Mounting Type 13.7.2.2. By Application 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2022 13.8.2.1. By Mounting Type 13.8.2.2. By Application 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2022 13.9.2.1. By Mounting Type 13.9.2.2. By Application 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2022 13.10.2.1. By Mounting Type 13.10.2.2. By Application 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2022 13.11.2.1. By Mounting Type 13.11.2.2. By Application 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2022 13.12.2.1. By Mounting Type 13.12.2.2. By Application 13.13. Singapore 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2022 13.13.2.1. By Mounting Type 13.13.2.2. By Application 13.14. Thailand 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2022 13.14.2.1. By Mounting Type 13.14.2.2. By Application 13.15. Indonesia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2022 13.15.2.1. By Mounting Type 13.15.2.2. By Application 13.16. Australia 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2022 13.16.2.1. By Mounting Type 13.16.2.2. By Application 13.17. New Zealand 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2022 13.17.2.1. By Mounting Type 13.17.2.2. By Application 13.18. GCC Countries 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2022 13.18.2.1. By Mounting Type 13.18.2.2. By Application 13.19. South Africa 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2022 13.19.2.1. By Mounting Type 13.19.2.2. By Application 13.20. Israel 13.20.1. Pricing Analysis 13.20.2. Market Share Analysis, 2022 13.20.2.1. By Mounting Type 13.20.2.2. By Application 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Mounting Type 14.3.3. By Application 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Arofly 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. BMC Switzerland AG 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. Bryton, Inc. 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. Campagnolo Srl 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. CatEye Co., Ltd. 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. Favero Electronics Srl 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. FSA SRL 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. Garmin Ltd. 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. Giant Manufacturing Co., Ltd. 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. Healthcare Technology Ltd 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
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Cycling Power Meter Market
