Call it the bicycle machine; Taiwan has a well developed industry that designs, builds and distributes a wide array of finished bicycles, bicycle components and related accessories which displayed good form in the first quarter of 2010.
Bolstered by gains in the U.K. and Eastern European markets, Taiwan’s bicycle industry saw first quarter exports increase 2.3% compared to the same quarter in 2009. Based on information from the Taiwan Bicycle Exporters Association (TBEA), the value of Taiwans bicycle exports climbed to approximately $417 million in U.S. currency.
Accordingly, the European sector was responsible for importing $245.3 million worth of bicycles in the first quarter, a 21.6% climb from the same period a year ago.
The majority of the growth was most evident in the U.K., Ireland and Central European markets such as Hungary and Slovenia. The value of Taiwan’s bicycle exports to the U.K. and Ireland more than doubled, while exports to Hungary and Slovenia rose by more than 37% and 24%, respectively.
The average selling price rose by 2% to $289.43 during the first quarter, based on the TBEA information. Taiwan’s bike makers include Giant Manufacturing Co., Merida Industry Co. and other companies.
Recent trends have shown that Taiwan has become the go-to source for carbon-fiber technologies throughout the world. Major bicycle brands in North America and Europe outsource their production to Taiwan suppliers.
According to Fausto Pinarello, CEO of Cicli Pinarello S.p.A, one of Italys most famous bicycle brands, The best carbon fiber technology is in Taiwan. Pinarello said he sources almost all of the companys carbon fiber bikes from suppliers in Taiwan.