THE row of gleaming bicycles being assembled on the factory floor of Giant Manufacturing, one of the world's biggest bicycle makers, will soon hit streets from Seattle to Sydney, Amsterdam and Beijing.
Rising petrol prices, a growing awareness of environmental issues and the popularity of cycling as a sport has fuelled a surge in demand around the world.
Giant, the Taipei-based maker of brands such as Boulder, Yukon and Iguana, is reaping the profits. The company, which produced 5.5 million bikes in 2007, is expected to pull in US$1 billion in sales this year, up 10 percent.
The global US$61 billion bicycle industry is enjoying unprecedented growth.
"There is a general renaissance and interest in bikes," said Jack Oortwijn, editor-in-chief of the magazine Bike Europe. "Parts suppliers are struggling to keep up."
The Chinese mainland leads the world in the number of bikes produced per year with about 73 million units of a total 100 million annually. Taiwan makes about 6 million bikes per year and they sell for an average domestic wholesale price of US$222 each.
The rest come largely from Canada, Russia, Ukraine and the European Union.
Bicycle sales have over the past five years increased by 14.6 percent in the European Union, which buys 70 percent of the world's bikes, according to Bike Europe.
In the US, sales have increased by almost 9 percent in the same period.
But it's not all good news.
Price rises in metals - especially steel, aluminium and chrome - have eaten into profits and pushed up prices.
The key to greater margins lies with high-end bikes using frames made from carbon fibre, which earn higher margins per unit, offsetting raw material costs.
Giant also makes battery-powered bikes, which are popular in China where the company operates three factories.
In the push to increase margins and win market share, Giant and its main competitors Finland's Cycle Europe, and the US-based Trek and Specialized are racing to develop the world's lightest bike.
Giant owns the lightest bike title with one weighing 6 kilograms. The TCR Advanced sells for about US$7,100.
But Giant is working hard to develop an even lighter bike to stay ahead of its rivals.
With petrol prices at record high, it's no surprise bicycles are becoming a popular form of transport.
European cities, such as Paris and Barcelona, have introduced loan programs that allow commuters to pick up bicycles outside train stations. All that is needed is the swipe of a credit card. When users return the bikes, another swipe of their card gets their deposit back minus a small fee. Europeans increasingly pedal to work on bike-friendly streets, while a growing pool of commuters in China use battery bikes.