Taiwan's bicycle industry has faced significant challenges in 2024, with exports declining sharply due to inventory adjustments in European and American markets. According to statistics from Taiwan Customs, the country's e-bike exports from January to November 2024 totaled just 331,262 units, a dramatic 48.95% drop compared to the same period in 2023. Despite an increase in the average unit price to $1,853, up by 5.93%, the total export value for e-bikes fell to $610 million, a decline of 45.93% year-on-year.

For regular bicycles, the export volume for the first eleven months of 2024 shrank to 828,160 units, a decrease of 33.73%. The average unit price increased by 10.09% to $1,138.33, but the overall export value dropped by 27% to $942 million.

In addition to complete bicycles, the export of bicycle parts also experienced a decline. From January to November 2024, the export value of parts reached $1.256 billion, down 20.63% compared to the previous year. The total weight of exported parts was 27.76 million kilograms, a reduction of 17.17%.

The sharp drop in bicycle exports can largely be attributed to a significant slowdown in the European Union market. TBA Chairman Robert Wu noted that the pace of global bicycle inventory clearance has been somewhat slower than the industry had expected, largely due to ongoing geopolitical tensions such as the conflicts in Ukraine and Israel, as well as inflationary pressures impacting consumer spending in Europe and the U.S. Additionally, the U.S. Federal Reserve has just begun lowering interest rates, and the benefits of this policy shift have yet to be seen in the short term.

However, Robert Wu remains optimistic about the outlook. As global bicycle inventory levels near depletion, he believes that the industry is on track for recovery, with revenue for Taiwan's bicycle industry expected to rebound by the end of the second quarter of 2025.

TBA Chairman Robert Wu