Thailand's bicycle market has recorded healthy growth the past six years as more people turn to cycling for sport and travel. Myriad cycling events and exhibitions have spurred Thai cyclists' appetite for high-quality bicycles.
These thriving prospects have reignited the zeal of Thailand's first bicycle maker -- JKC Bike Industry Co -- to expand its business.
Founded in 1958 by a Chinese migrant, JKC Bike started off with a three-wheeled bicycle or saleng. Business peaked from 1972 to 1982 when it sold bicycles and BMX bikes under four brands: Jaguar, Eagle, President and Tornado. It now sells 20,000-30,000 units of its own brands annually.
"The Thai bicycle market has grown substantially over the past few years, with sales estimated to reach 1-2 million units a year," said chief executive Somkeat Anantsorruk, 53, who runs the factory in Nakhon Pathom founded by his father.
"However, growth is mainly for the high-end segment and imported bicycles, not locally made low-end units."
NCC Exhibition Organizer Co, which hosts the International Bangkok Bike event, estimates the market for bicycles and accessories in Thailand to grow by 10% this year to 6.5 billion baht, with accessories representing 20%.
Mr Somkeat said to stay afloat, JKC Bike had to fine-tune itself throughout the years, shifting to produce made-to-order bicycles mainly from organisations such as DTAC, AP (Thailand), Pruksa Real Estate Plc, Nok Air and Thai Air Asia.
The company also expanded its production to cover electric vehicles for disabled people, priced up to 40,000 baht, as well as high-quality touring bicycles with imported Arawan brand parts from Taiwan, priced at 17,000 baht.
Next year, JKC Bike will focus on tailor-made bicycles for individual customers and fixed-gear bicycles under its own brand, Iconic. The factory can produce up to 1 million units priced from 1,950 to 10,000 baht.
JKC Bike makes 180,000 completely built units and 240,000 completely knocked-down units. Of those, 60% are as an original equipment manufacturer for Thai brand Pioneer. It makes half of its spare parts, with the balance imported from China.
Mr Somkeat is studying expanding distribution to border provinces to cash in on flourishing border trade, as before its cheap road bicycle brands were popular in the provinces and neighbouring countries.