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The portability of folding bikes makes them a convenient and complementary way to move around cities and link up gaps in public transportation systems. As a result, folding bikes have become one of the fastest-growing sectors in the bicycle industry. Currently, one out of every 10 bicycles produced around the world each year is a folding bike.
The folding bike manufacturers are also quick to get on the recent trend toward e-bikes. According to the Customs Administration of the Ministry of Finance, Taiwan’s e-bike exports for 2019 reached a record high of 647,860 units, registering 126.21% growth compares to 2018. The total export amount came to US$863 million while the average export unit price rose to US$1,333. In terms of export markets, North America and Europe accounted for more than 90% of Taiwan’s e-bike export volume.
Folding e-bikes feature two major advantages: being able to switch to bicycle mode when you want to exercise, and being able to switch to electric mode when you want to take a breath. This has progressively paved the way toward electrification for more folding bike brands.
Pacific Cycles, a Taiwan Excellence awarded company, is a leading e-bike manufacturer. The brand persists in developing high-performance folding bikes and mini velos that prioritize the demands of consumers. Over the past 40 years, Pacific Cycles has focused on designing and manufacturing distinctive products, and they have begun to enter the e-bike sector in recent years. Their latest products include the HANDY hand-propelled trike tailored for the disabled; the REACH folding road bike that is suited to long-distance travel and can be loaded into a 29-inch suitcase; and the IF MOVE folding bike for city commuting, which folds in 2 seconds. Take a trip to the Pacific Cycles Museum in Taoyuan to learn the purpose and mission of the brand.
Darfon Innovation, which established BESV, a leading smart e-bike brand that stands out among its peers, is another proud winner of the 28th Taiwan Excellence Silver Award with its PSF1 Folding e-Bike this year. Most folding bikes on the market are designed with an external battery and motor attached to the structure of an ordinary folding bike. This award-winning product, however, is designed from the ground up as an e-Bike, which enhances the product's rigidity, electronic control unit, and overall performance.
The global folding bike market amounted to US$514.5 million in 2018; the growth rate is expected to register a CAGR of 8.8% over the forecast period. Developed countries such as the United States, Germany, and the United Kingdom will play an important market role in the folding bike industry in the coming years. At the same time, the rise of global environmental awareness is also reflected in the growth of e-bike market. Therefore, electrification of folding bikes will be the trend for the future.
In order to introduce more Taiwan Excellence awarded products and showcase the strength of Taiwan’s bicycle industry, Taiwan Excellence will participate in the Taipei Cycle+ exhibition to be held at Taipei Nangang Exhibition Center, Hall 2 from May 14th to 16th. For further information on Taiwan Excellence, please visit the official website (www.taiwanexcellence.org). You are also welcome to join the Taiwan Excellence Facebook fan page (www.facebook.com/TaiwanExcellence.en).
Liaison supervisor for this project:
Chun-Tse Wu, Director, Strategic Marketing Department, External Trade Development Council