2021 TSMA

27 Mr. Richard Leu Director General, Industrial Development Bureau, Ministry of Economic Affairs Taiwan Sports Equipment Manufactured A+ In Crisis Due to the US-China Trade War, companies begin to consider shifting their man- ufacturing sites out of China. Many Taiwanese companies are willing to return to Taiwan, coinciding with sporting goods industry receiving its growth, with orders transferred in to bring up export volume. Based on the data from Customs Admin- istration under Ministry of Finance, in the past three years there has been tremen- dous increase in the export of fitness equipment, golf clubs, and ski gears. Of which, in 2019, indoor fitness equipment export to the US climbed up by 17.75% from last year, recording the greatest growth rate in 9 years. From a survey by Statista, the 2019 total revenue of the sporting goods market worldwide has reached USD$126.2 billion, and is estimated to arrive at USD$148.2 billion by 2023. In 2020, the world took a hit from COVID-19 (Wuhan Coronavirus), and opened an opportunity for home sports. The production value for home fitness equipment market in 2020 is looking at USD$ 9.5 billion (approx. NTD$ 280 billion), a 40% increase from the year before, affirms the business research company’s re- port. The demand from the “Workout at Home” trend due to the pandemic effect will lead to a never-seen-before business opportunity.