From January to October 2024, Taiwan's cumulative bicycle exports reached 750,000 units, marking a 36% decline compared to the same period in 2023. The export value also dropped by 28.4%, with the average export price increasing by 11.87% to USD 1,146. Among these exports, 211,000 units were shipped to the European Union, a decrease of 38.24% from the previous year, while exports to the United States amounted to 250,000 units, reflecting a 37.65% decline.

In terms of electric bicycles, Taiwan exported 305,000 units from January to October 2024, a 50% drop compared to the same period in 2023. The export value fell by 41.22%, and the average export price rose by 7.58% to USD 1,862. Electric bicycle exports to the European Union totaled 159,000 units, down 56.89%, while exports to the United States reached 84,000 units, a decline of 31.73%.

Grace Ruan, a senior bicycle media professional in Taiwan, pointed out that from the export statistics, the European and American markets have yet to show a clear recovery. Despite a decrease in inventory days, the pace of inventory turnover still lags behind expectations. The market is expected to need more time to digest existing stock, and industry experts predict that it may take until the third quarter of 2025, with some models potentially needing to wait until the end of 2025. During this period, Taiwanese bicycle manufacturers are actively adjusting inventory, production, and strictly managing financial risks. They are also fully committed to ESG (Environmental, Social, and Governance) carbon reduction and sustainability initiatives to strengthen their competitiveness once inventory is cleared.

Looking ahead to 2025, global economic challenges persist. Robert Wu, Chairman of the Taiwan Bicycle Association, proposed the development of a "Sustainable, Lean, Cross-Regional Resilient Supply Chain" and emphasized the shift from MIT (Made in Taiwan) to MBT (Made by Taiwan) and MWT (Made with Taiwan). He encouraged Taiwanese manufacturers to enhance their overseas operations and divisions of labor, striving to become global resource integrators and achieve the goal of "Taiwan Inside."

▲Wheel Giant President Grace Ruan.

▲TBA Chairman Robert Wu.