Taipei, Taiwan — Following a year-long inventory adjustment in 2023, the bicycle industry is widely optimistic that the worst is over and looks forward to a resurgence in 2024. The "2024 Taipei International Cycle Show," held from March 6 to 9 at the Taipei Nangang Exhibition Center Halls 1 and 2, showcased the latest in global bicycle technology and innovation. This exhibition not only attracted internationally renowned brands such as MERIDA, GIANT, KMC, SRAM, and SHIMANO but also set a record with nearly 3,500 booths, demonstrating a nearly 15% growth in scale from last year and highlighting the resilience and innovative capacity of the bicycle industry.

Amid this optimistic atmosphere, MERIDA announced the global launch of its new flagship electric assist bicycle "e160 10k," priced at NT$420,000, along with a series of innovative E-Bike new models, leading the technological innovation trend of this year's show. Furthermore, the enthusiastic participation of exhibitors reflects the industry's strong confidence in market recovery.

Mr. Wang Ximeng, Secretary-General of the Taiwan External Trade Development Council, pointed out during the press conference that this year's show focuses on four major themes: "Micro-Mobility," "Innovations & Startups," "Green Action," and "Culture & Lifestyle," aiming to explore smart green business opportunities together with domestic and international businesses. This reflects the bicycle industry's move towards electrification and intelligence. As Taiwan is a crucial hub in the global bicycle supply chain, its electric bicycle exports are nearly on par with traditional bicycles, demonstrating a successful industry transformation.

Facing challenges of inventory adjustment, particularly with the stockpile of mid-range and entry-level bicycles during the off-season, most bicycle brands began actively adjusting their orders starting from the third quarter of 2023. The industry widely expects that with the arrival of 2024, inventory issues will gradually be resolved, with the market potentially experiencing a replenishment demand as early as the second quarter or at the latest by the third quarter.

Moreover, the export volume and value of complete bicycles and components from Taiwan's bicycle industry saw a decline in 2023 due to inventory adjustments. However, Mr. Chiu Hui-li, Deputy Secretary-General of the Taiwan External Trade Development Council, noted that industry insiders generally believe the most challenging period is behind us, with inventory adjustments expected to gradually conclude starting from the latter half of this year. Chiu emphasized that the bicycle industry aligns with global trends towards sustainable development, carbon reduction, and healthy living, expecting continued growth in the future, especially in the fields of electric bicycles and green sustainability, where Taiwan has the opportunity to become a significant contributor to smart electric transportation.

In summary, the "2024 Taipei International Cycle Show" not only showcased the latest technological trends and innovations within the bicycle industry but also reflected the industry's optimistic outlook and strong confidence in future development. As inventory adjustments are progressively completed, the Taiwan bicycle industry, with its flexible adaptability and innovative technologies, is embracing new opportunities in the global green transition.