TAIPEI (Taiwan News) — Driven by the COVID-19 pandemic and surging demand for indoor fitness equipment, the total production output of Taiwan’s sporting goods industry is expected to rise to a new high of NT$60 billion (US$2.07 billion) this year.
The latest numbers issued by the Ministry of Economic Affairs' (MOEA) Department of Statistics show that Taiwan’s sporting goods output has increased every year since 2016, CNA reported. The MOEA report attributes the steady increase to the popularity of sports and fitness around the world and the successful introduction of Taiwan’s high-quality, diverse products at international hotels and chain fitness centers.
The country's production output of sporting goods reached NT$50 billion in 2019 and increased to NT$59.8 billion last year. Output in the first five months of this year totaled NT$35.3 billion, an increase of 96.4% compared to the same period last year, per CNA. It is estimated that total output this year will break the NT$60-billion mark.
Indoor fitness equipment, which accounted for 40% to 50% of Taiwan’s total sporting goods production from 2013-2019, has been the main driving force for growth in the nation's sporting goods industry. The COVID-19 pandemic changed the workout routines of many people as more chose to exercise at home, driving the demand for treadmills and stair-steppers.
The trend has stimulated sales of indoor fitness equipment, which accounted for 60% of sporting goods production in Taiwan last year. The output of the product line reached NT$35.9 billion in 2020, up 35.7% year over year.