Taiwan-made bicycles and parts accounted for more of the local industry’s exports to Europe in 2016, up 1.9 percentage points year on year and underscoring the rising reputation of homegrown manufacturers for outstanding quality and value for money in that market.
According to the latest statistics by the Ministry of Economic Affairs, Europe is Taiwan’s No. 1 destination for bicycle and parts exports, accounting for 50.5 percent or US$1.29 billion. For the first nine months of 2016, the highest value market in the region is Germany at US$257.6 million, followed by the Netherlands at US$211.5 million and the U.K. at US$123.3 million.
Taiwan bicycles and parts enjoy the biggest market share in all three countries at 22 percent, 37.1 percent and 26.1 percent, respectively.
The MOEA attributed Taiwan’s strong performance in Europe to increasing consumer demand for top-end bicycles, as well as innovative, lightweight and technologically advanced parts. Taiwan specializes in such areas and its products are highly competitive around the world, the ministry said.
North America is Taiwan’s No. 2 destination, accounting for 23.4 percent or US$601.7 million, with Asia No. 3 at 17.5 percent or US$449.4 million. For the first nine months of 2016, the highest value market in the region is mainland China at US$115.7 million followed by Japan at US$90.9 million.
Taiwan bicycles and parts occupy second spot for market share in North America, 31.6 percent, and Japan, 14.5 percent. In mainland China, Taiwan is the top source of bicycles and parts at 59.3 percent, with fully assembled bicycles accounting for 91.5 percent of total imports.
The MOEA cited the industry cluster in central Taiwan’s Changhua County and Taichung City as another reason for the country’s dominance in the global market. Of Taiwan’s 734 bicycle-makers and 86 parts-makers, 77.8 percent are situated in the region.
It is expected that this hub will continue playing a major role in increasing the efficiency and output of Taiwan’s internationally renowned bicycle industry going forward, the ministry added. (KWS-E)
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