As per PersistenceMarketResearch, the global cycling power meter market will grow at the rate of 4.2% between 2020 and 2030.
The cycling power meter, as the name suggests, measures the rider’s power output. On application of force, strain gauges undergo a b it of deflection. This torque, in combination with the angular velocity gives power output (in Watts).
The present-day cycling power meters, like the other devices, are subject to technological advancements. The new wireless power meters are designed to be resistant to vibration, drops, and water with utmost precision.
Cyclic power meters, by style, comprise crank-based, pedal-based, and hub-(wheel)-based. By type of mounting, it’s spider or crank, bottom bracket, pedals, chain, and freehub. By type, there are road bicycles, mountain bicycles, and sports bicycles.
By region, Europe leads the cycling power meter market. This could be credited to events like “Tour De France”. North America comes second. The Asia-Pacific is expected to grow at the fastest rate, especially due to countries like China and India engaging in cycling activities. India alone has witnessed a two-fold rise in sales of cycles in the last few years. The scenario is expected to persist amongst the millennials even in the forecast period. LATAM is also expected to catch up, especially in countries like Argentina and Brazil.
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The key market participants include Pioneer Corp., Garmin Ltd., SRAM LLC, Shimano Inc., SRM GmbH, Favero Electronics Srl, Rotor Bike Components, Verve Cycling, Power2max GmbH, Watteam Ltd., Saris Cycling Group, Stages Cycling, LLC, and 4iiii Innovations Inc. Garmin has its dual-sensing pedal-based power meter that could be completely integrated with its cycling ecosystem that is meant for data analysis. Also, it is compatible with Garmin Connect Mobile app, and Edge cycling computers. Bluetooth connectivity is also possible. Likewise, there are the other players joining the bandwagon herein.