The latest report by Persistence Market Research (PMR) provides interesting insights and in-depth analysis on the global cycling power meter market. A new report “Cycling Power Meter Market: Global Industry Analysis and Forecast 2017-2025,” offers segment-wise analysis of the market for the forecast period 2017-2025. Cycling power meter attached to the cycle act as a measuring tool to measure the power output of the rider during training or event or everyday use. In the past, measurement was limited to the speed and heart rate, however, the new cycling power meters offer in-depth analysis of the performance measuring various factors. Manufacturers are developing new cycling power meters that use handle bar mounted units to calculate the force. These power meters provide data that can be used as the source to analyze effort and load.
Cycling is emerging as a highly preferred recreational, sports and fitness activity, hence this is also boosting the demand for cycling power meter. Moreover, the rise in fuel prices, traffic congestion, and growing demand for low-cost transport in emerging nations is resulting in the growth of cycle industry, this, in turn, is accelerating the demand for cycling power meters. The biggest advantage of cycling power meter is that it is not dependent on the working environment, thereby making it the perfect option for training.However, due to the weak distribution network and rising popularity of other sports and fitness equipment are some of the factors restricting the growth of the global cycling power meter market.
North America to Emerge as the Biggest Market for Cycling Power Meters: According to the report, North America is expected to remain dominant in the global cycling power meter market during the forecast period 2017-2025. Due to the rising interest of people in cycling, fitness becoming an important part of life, and rise in cycling as the sports activity is contributing towards the growth of the North America cycling power meter market.
Meanwhile, Asia Pacific is also expected to emerge as the lucrative market. The region will experience significant growth due to the presence of large population base, adoption of cycling as the sports activity and tool for fitness are also resulting in the market growth. Initiatives by government in various countries towards a healthier lifestyle, sustainable transportation, and clean environment is also increasing the use of cycle, thereby boosting the demand for cycling power meters.
On the basis of power meter type, the global market for cycling power meter is segmented into pedals based power meter, hub based power meter, footpod power meter, opposing force power meter, and crank based power meter. Among all these meter types, crank based cycling power meter is one of the most preferred power meters.The report provides a detailed profile of various key market players such as SHIMANO INC., 4iiii Innovations, PowerTap, Schoberer Rad Messtechnik, Garmin Ltd, Verve Cycling, ROTOR Bike Components, SRAM Corporation, Favero Electronics Srl, Look Cycle International, and Pioneer Electronics Inc.
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