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.
Principal Consultant
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
