It’s good to hear that at least one “green” industry is doing well these days:
Link via Bicycle Retailer News
One factor that has kept Taiwan factories humming is the island nation’s surprisingly strong domestic market. Until recently, Taiwan residents have never taken to cycling for recreation despite their country’s reputation as the world’s source of high-end bicycles.
A cycling boom in the past 18 months has lifted all of the country’s manufacturers. Lo said bicycle sales have increased by about 60 percent in that time period, with Giant nearly doubling its sales in Taiwan.
Lo still expects growth but at a more moderate rate.
“Starting this year, the growth rate will flatten down and get back to a more normal course,” Lo said. “I still believe the Taiwan market this year will continue to grow 10 to 20 percent. That is no problem. Of course, you will not see 50 percent or double.”
Lo said Taiwan’s experience points to a dynamic that will help the bicycle industry stay in relatively good shape. While established markets such as the United States will be hit by the economic crisis, Lo said cycling is catching on in other markets such as Korea and Japan.