More than half of Taiwan’s bicycle exports were destined for European markets new statistics from Taiwan’s Ministry of Economic Affairs have shown.
Representing 50.5% of complete bicycle exports, European markets represented more than double the turnover of the second largest destination – North America – at 23.4% of shipments. The Asian markets, widely believed to be a growing opportunity for the bike business, represented a 17.5% share.
Behind the United States, it is the Netherlands, the UK and Germany who took receipt of the largest volumes of Taiwanese produced bicycles and bicycle parts. As far as imports to the Netherlands go, 37.1% of bicycles and parts stem from Taiwan, while the UK’s share of Taiwanese imports sits at 26.1%. Interestingly, both of these shares are higher than the number of bicycles stemming from China if the new figures are to be believed.
Traditionally, Taiwan has focused its energies on a higher spec level of manufacturing than neighbouring China, which has more often satisfied the lower-end of the market. It is therefore likely that the two markets are increasingly leaning toward higher price point bikes.
In the U.S. market China shipped 66% of the bicycles arriving, compared to Taiwan’s 27.5% in 2016. This could swing in 2017 should incoming president Donald Trump follow through on comments to open doors to Taiwan and restrict Chinese business.
Though China’s manufacturers have a strong appetite to explore the potential of the domestic market, Taiwan did make up 91.5% of bicycles imported, as well as 49.8% of parts shipped in.