Taiwan cycle industry’s annual production is projected to top NT$50 billion (US$1.65 billion) in 2014, according to statistics released Sept. 25 by the Ministry of Economic Affairs.
Production volume reached over 2 million units, or NT$26.8 billion in value, during the first seven months, with year-on-year average selling price rising 7.4 per cent to NT$13,400.
“Tapping the trends of carbon reduction, eco-awareness and leisure sports worldwide, local manufacturers have incorporated innovative materials such as aluminum, carbon fiber, magnesium and titanium into their products,” an MOEA official said. “Increased demand for these models is expected to buoy overall revenues for bike-makers.”
According to the MOEA, more than 90 per cent of Taiwan’s bike production is for export. Major destinations include Europe, which accounts for 46 per cent; the US, 24 per cent; mainland China, 6.2 per cent; and Japan, 5 per cent.
But export numbers through July inched back 2 per cent from the year before to US$906 million. This was attributed by the official to lackluster demand from Europe and Japan, slightly offset by a rebound of 2.7 per cent in the US.
“In light of continuing improvements in quality and value, Taiwan’s cycle industry is expected to see further advances on the production and exports fronts going forward,” the official said.
