a group of riders in Taiwan waiting for the light to change

Taiwan Says Two-Wheeled Industry Is Booming – Especially Spare Parts

With an increase in desire for travel, efficiency comes a blow-out to an entirely different corner of the market – and Taiwan has some numbers to bounce to the forefront.

According to a report from TaipeiTimes, the Ministry of Economic Affairs (MEA) has released that the two-wheeled industry is booming in all the best ways.

Taipei, with many riders traversing the streets

The value increase of the motorcycle and scooter spare parts industry was measured from 2012 to 2020 and showed a beefy 5.2 annual increase rate across the board.

Record highs were logged in 2019, with the output value of the first quarter alone reaching an average of USD$1.29 billion. As if that weren’t all, the end of the year saw the spare parts industry value balloon out to a mind-boggling USD$4.4 billion. 

2020 saw an even larger increase, hitting USD $4.7 billion by the end of the year, despite ongoing restrictions. 

an employee working on a motorcycle on a factory floor

The overall increase in industry value is also apparently due to the explosion of exports in both gas-powered and electricity-powered motorcycles and scooters and the sale of ebikes. 

Some further specs for the industry:

2020

  • The production value of gas-powered motorcycles and scooters rose 27.8%, compared to 2019.
  •  The production value of electric-powered scooters rose 29.8%, compared to 2019.
  • The two main receivers of Taiwan exports for motorcycles and spare parts were the Netherlands and the US (Previously, Japan).
  • Exports to the Netherlands reached USD $480 million, up 29.8%, compared to 2019.
  • Exports to the US reached USD $400 million, up 20.7%, compared to 2019.

For more industry-related news, head over to WebBikeWorld.

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