Motorized Quadricycle Market By Type (Light Quadricycle, Heavy Quadricycle), By Propulsion Type (ICE, Electric), By End Use (Household, Commercial, Others (resorts, museums, and leisure)), By Price Range (Low, Mid, High): Global Opportunity Analysis and Industry Forecast, 2021-2031
The report incorporates the study of the global motorized quadricycle market that focuses on the small & fuel efficient four wheeled vehicles used for local transportation in rural and urban areas. The vehicles are light in weight compared to conventional four-wheelers and emit low carbon into the environment. Moreover, it is available in different sizes with a capacity to hold maximum four passengers including driver at one time. The speed range for light quadricycle is 45 km/hr & heavy quadricycle is 100 km/hr and it weighs up to 400 – 500 kg. These vehicles have become quite popular mode means of internal transportation amid high traffic congestions in developed cities. Furthermore, motorized quadricycle is an affordable option that requires low maintenance costs compared to two-wheelers. Also, compared to two-wheelers, quadricycle offers the added benefit of safety while driving and protection from extreme weather condition and it is inexpensive than four-wheelers.
Currently, the original equipment manufacturers (OEMs) are focusing on developing electric powered quadricycle due to the rise in pollution level. For instance, in April 2022, Mahindra Electric Mobility Limited, part of the Mahindra Group, launched its wide range of electric vehicles at the Pune Alternate Fuel Conclave with the display of Treo auto, Treo Zor Delivery Van, Treo Tipper variant, e Alfa Mini Tipper variant, and Atom quadricycle. This is the first time that Atom is the only electric quadricycle in India.
Moreover, the market for motorized quadricycles has increased significantly in urban areas as a result of rising traffic congestion issues, rising demand for lightweight vehicles, fuel economy, and the desire for speedier commuting alternatives.
Similarly, increased demand for last-mile delivery options and growth in the investments by manufacturers to improve the vehicle’s (quadricycle) technology regarding passenger safety & comfort foster the motorized quadricycle market. For instance, manufacturers are implementing technologically advanced features and components that are fuel-efficient, environment-friendly, and increase passengers’ safety. Manufacturers are also equipping micro-cars (quadricycles) with high-end cameras, LiDAR, RADAR, and sensors. These high-end sensors and RADARs can perform even in extreme weather conditions.
For the purpose of analysis, the motorized quadricycle market is segmented on the basis of type, propulsion type, end use, price range, and region. By type, the market is divided into light quadricycle and heavy quadricycle. By propulsion type, it is fragmented into internal combustion engine (ICE) and electric. By end use, it is divided into household, commercial, and others (resorts, museums, and leisure). By price range, it is categorized into low, mid, and high. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the motorized quadricycle market are Alke, Bajaj Auto Ltd., Goupil, Italcar Industrial S.r.l., LIGIER GROUP, Mahindra Electric Mobility Limited, Piaggio & C. SpA, Renault Group, Squad Mobility BV, and Yamaha Golf-Car Company.
KEY BENEFITS FOR STAKEHOLDERS
This study presents analytical depiction of the global motorized quadricycle market analysis along with current trends and future estimations to depict imminent investment pockets.
The overall motorized quadricycle market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global motorized quadricycle market with a detailed impact analysis.
The current motorized quadricycle market is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Price Range
Low
Mid
High
By Type
Light Quadricycle
Heavy Quadricycle
By Propulsion Type
ICE
Electric
By End Use
Household
Commercial
Others (resorts, museums, and leisure)
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Renault Group
Italcar Industrial S.r.l.
Bajaj Auto Ltd
Piaggio & C. SpA
Ligier Group
Goupil
Yamaha Golf-Car Company
Alke
Squad Mobility BV
Mahindra Electric Mobility Limited
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