With bicycles made for it's own consumption as well as bicycles made for export around the world, China by far manufactures the most bicycles.
Hands down, China. Department store bicycles, once made in the U.S., are now made better and cheaper in China. Even Taiwanese companies, once known to make good quality, cheap, high end bicycles in the 80's, have moved their factories over to China because the labor is so much cheaper there. Add to this the fact China's large population, most of them with bicycles as their only mode of transportation, and you have an incredible number of bicycles!
China
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