Taiwan's motorcycle industry, as well as the industry catering to motorcycle spare parts has seen impressive growth in the first quarter of 2021. The industry had previously set record high numbers in 2019 and 2020, despite the looming fears concerning the negative effects the global pandemic would have on the economy. In a report published by the Taipei Times, the Ministry of Economic Affairs reported key industry highlights.

According to the report, the first quarter of 2021 saw the output value of Taiwan's motorcycle industry hit an impressive $35.6 billion NTD, or the equivalent of $1.29 billion USD. A 16 percent growth from the previous year, the proliferation of the industry is due to the steady export of gasoline-powered motorcycles, scooters, as well as more recently, the export of electric-powered two-wheelers. Taiwan is home to some of the world's biggest motorcycle and scooter manufacturers and OEM suppliers. Companies like Kymco and SYM have enjoyed impressive sales figures across multiple markets. 

Kymco RevoNEX Concept

As far as spare parts are concerned, a lot of OEMs rely on Taiwanese companies to supply them with various components. With a total output value of $122 billion NTD ($4.35 billion USD) in 2019, and $132.4 billion NTD ($4.72 billion USD) in 2020, exports of Taiwan-made spare parts and components are steadily rising, too. In fact, the Taipei Times report highlights that the Taiwanese motorcycle industry's production output value has been growing at an average annual rate of 5.2 percent since 2012. 

The global pandemic has resulted in a lot of people all over the world taking up motorcycling and other powersports hobbies. This has also contributed to the steady growth of the Taiwanese motorcycle industry. With new trends, particularly in the field of electric mobility, emerging left and right all across the globe, there's no denying that the Taiwanese motorcycle industry is several steps ahead in the game. A lot of Taiwan-based motorcycle manufacturers have already begun developing electric powertrains, as well as forging strategic partnerships with companies in Europe, the U.S., as well as other parts of Asia. 

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