As the markets slow (see how the revenue graph is flattening), its ever more important for firms to be efficient. That said, whilst sales revenue (across both regions) is about $660m, there is still a consumer surplus of about $1bn in each of the regions. There is still plenty of room to grow ... it's just harder to grow.
But as I say, efficiency is ever more important, and firms are definitely responding to that challenge. Firstly, firms are getting their capacity under much better control. They are figuring out how to get more out of what they have, and how to better predict the capacity they need.
As result idle time across the regions is down. However, too many firms still have a lot of slack ... being unsure/uncertain of the sales they might achieve, they are keeping idle capacity around in case their sales are (up to 20%) higher. That's a lot of excess capacity; just think, to use that extra capacity (of say, 20%) the estimates for every model bike a company makes would need to be out by 20%. Whilst one or two models might be that wrong, is the firm's forecasting so out on all the models. No, firms are better than that now.
Evenso, we see the cost of manufacturing come down. With a number of firms having costs of production below that of their starting costs; good on you Munchy Bikes, PeakPerformanceBros, Pedal, and Wheelie Cool Bikes who (in no particular order) have COGM per SCU of under $500. A big 'shout out' (do people do that), to Wheelie Cool Bikes who are the cheapest producers by a long way. All these firms have struggled with serious problems and so have put in a lot of effort to learn how to make bikes really efficiently.