AAT World

Taiwan sees a hike in bicycle export revenues

In the first four months of 2022, the export of bicycles, e-bikes, and bicycle components from Taiwan showed strong growth.

According to the Taiwan Bicycle Association report, the nation’s industry was able to maintain strong growth in export this year, following a hike in sales in 2021. In that year e-bike exports hiked by almost 38% to over 744,506 units from January to September 2021.

From January-April 2022 Taiwan’s total bicycle export revenues increased by 28.4% year on year and reached a total value of almost US$2 billion (€1.95 bn).

Components leading to export growth

The biggest growth was generated by the export of components. In the first four months of this year, they grew by 42.7% to reach a total value of over US$1 billion (€0.98 billion). That is no surprise looking at the supply chain constraints and the ongoing search for more and other suppliers by the A-brands and OEMs.

Revenue generated by the sale of e-bikes is projected to exceed that of traditional bicycles this year. The NAFTA and EU regions remain the biggest markets for e-bike exports, with the United States, the Netherlands, the United Kingdom, Germany, and Italy the top five destinations. In the first four months of this year, the export of regular bicycles (non-electric) increased by almost 20%, with a total value of nearly US$500 million (€489 million), while the export of e-bikes went up by 12.8% having a total value of US$470 million (€459 million).


Leading export markets

The Taiwan Bicycle Association confirmed that the total export value in 2021 reached US$5.15 billion, which was nearly 40% higher than in 2020. Components increased by 56.7% totaling US$2.52 billion (€2.46 billion), for the calendar year; the export of e-bikes grew by 33.2% at a value of US$1.31 billion while complete bicycles grew by 19.1% totaling US$ 1.33 billion (€1.30 billion), in 2021.