NEWARK, Del, May 09, 2023 (GLOBE NEWSWIRE) — The global cycling power meter market was 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. As of 2033, the market is expected to garner a valuation of 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.
The market is anticipated to grow at a stationary CAGR over the forecast period. Increased per capita disposable income, and growing fitness awareness among the population globally. Also, the increased penetration of small AI-powered devices in domestic lifestyles has created opportunities for market growth.
With the increase in the adoption of Cycling Power Meters, 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.
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Key Takeaways from the Market Study From 2018 to 2022, the market demand expanded at a CAGR of 6.3%
Based on the application, the sports bicycle segment accounts for a CAGR of 5.4
By mounting type, the crank arm-based […]
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