Is ‘Made in Taiwan’ evolving?

Taiwan exported fewer than 77,000 e-bike units in the first quarter of 2026. This marks a 15% year-on-year drop from 2025 and the lowest Q1 e-bike exports since 2018. This also signals that the world's bicycle manufacturer is still struggling to get a firm grip on the electrified bike market post-Covid. The export value of regular bicycles also continues to drop 17% in Q1, but little is heard about consolidations or bankruptcies in the Taiwanese bicycle industry. As the total export value dips under $10 billion for the last two consecutive quarters, could the value shift be taking place outside of Taiwan's borders?

“Taiwan is a global resource platform and the organiser to supply premium and high-end bicycles to the worldwide market,” Taiwan Bicycle Association (TBA) Chairman, Robert Wu told the audience at the Industry Forum on the second day of Taipei Cycle.

Afbeelding

Robert Wu

“46% of this segment is empowered by Taiwan. This means everything connected to Taiwan, not just made in Taiwan, but also production in Europe made with Taiwan, and production in Vietnam or Cambodia made by Taiwan.”

Vietnam a major draw for Taiwanese supply chain

Robert Wu proclaimed that 39% of the premium bicycle market and 48% of the high-end market are now made in conjunction with Taiwan. This means not necessarily in Taiwan, but with Taiwanese (financial) resources and knowledge. These figures could offer a clearer indication of why the drops in Taiwanese exports over the last three years might not be as drastic as they look on paper.

Fluctuating trade regulations and geopolitics have signalled a shift in production locations, and many Taiwanese suppliers continue to eye Vietnam as a production destination — a trend confirmed on Taipei Cycle’s show floor. Vietnam’s Asian free trade under the Regional Comprehensive Economic Partnership (RCEP) and trade agreement with the European Union make it a strategic location for manufacturing, much of which is being financed by Taiwanese investment. According to figures given by Wu, 16% of the high-end market is ‘Made by Taiwan’ in Vietnam, and 21% ‘Made by Taiwan’ in China.

Export value down by a third

With this in mind, the significant drop in the value of e-bike and bicycle exports from Taiwan is given a fresh perspective, but still indicates difficulties in the country’s remaining supply chain. Since Q1 of 2019, the total value of exports from Taiwan has dropped 37% from $15 billion to $9.4 billion in Q1 of 2026, the preliminary annual export figures presented by Taiwanese customs show.

E-bike exports to US suffer the most

That the year starts off on a bad note is no surprise. The financial results of both Giant and Merida already indicated significant declines in sales in January and February as market pressures continued. In terms of e-bike exports, shipments to the EU remained steady at a like-for-like 50,000 units compared to Q1 in 2025. The 15% overall reduction comes from the US market, which saw the biggest drop of 54% from 27,000 to 12,500 units in the first quarter this year.

To view a more in-depth version of this article with graphs, click here.