Global Motorized Quadricycle Market Size study & Forecast, by Price Range (Low, Mid, High) by Type (Light Quadricycle, Heavy Quadricycle) by Propulsion Type (ICE, Electric), by End Use (Household, Commercial, Others) and Regional Analysis, 2022-2029

Global Motorized Quadricycle Market Size study & Forecast, by Price Range (Low, Mid, High) by Type (Light Quadricycle, Heavy Quadricycle) by Propulsion Type (ICE, Electric), by End Use (Household, Commercial, Others) and Regional Analysis, 2022-2029

Global Motorized Quadricycle Market is valued at approximately USD 460.1 million in 2021 and is anticipated to grow with a healthy growth rate of more than 9.9% over the forecast period 2022-2029. A motorized quadricycle is a four-wheeled vehicle that is powered by an engine or electric motor. It is often used for transportation or recreation purposes and can be classified as a type of microcar. The Motorized Quadricycle market is expanding because of factors such as increasing demand for lightweight vehicles and rising traffic congestion.

Quadricycles can come in a variety of designs and styles, ranging from enclosed models with seats and seat belts to open-air designs that resemble a golf carts. Some quadricycles can reach speeds of up to 50 mph while others are designed for slower, more leisurely driving. Its prevalence has progressively increased during the last few decades. According to Statista, global light vehicle production is estimated at around 4.7 million passenger cars and light commercial vehicles will be produced in South America by 2024. Furthermore, in 2022, the auto industry in the United States sold approximately 13.75 million light vehicle units including retail sales of about 2.9 million passenger cars and 10.9 million of light trucks. Another important component of driving space increase is traffic congestion. According to Statista, Istanbul takes 62% longer than free-flow travel, making it the world's busiest urban sprawl as of 2021. Furthermore, in 2021, Mumbai's traffic level was 53%, more congested as it took 53% longer to go from one point to another than in a free flow situation. In comparison, the congestion level in Wellington and Singapore was 29% in 2021. Also, rising cutting-edge technology in motorized quadricycles and increasing government initiatives regarding vehicle safety would create a lucrative growth prospectus for the market over the forecast period. However, the lack of passenger safety stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Motorized Quadricycle Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to the various government initiatives in adoption of environmentally friendly and compact vehicles to reduce traffic congestion on roads. According to Statista, EU registrations of electric quadricycles reached around 2,800 in 2019, among these Italy has recorded the highest number of electric quadricycles of about 623 in 2019, while registrations in Ireland increased by rate of 550%. Furthermore, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to the rising population, geographic expansion of key players, and active participation of government organizations in the market space.

Major market player included in this report are:

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

Recent Developments in the Market:
 In Augutst 2021, Renault's Mobilize mobility services unit has launched a Chinese-built electric sedan called the Limo, for the purpose of ride-hailing and taxi services by the second half of year 2022. The Limo was manufactured under Renault's joint venture partner Jingliang Motors Group in China, where it is known as the EZoom Yi.



Global Motorized Quadricycle Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Price Range, Type, Propulsion Type, End Use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Price Range
Low
Mid
High

By Type
Light Quadricycle
Heavy Quadricycle

By Propulsion Type
ICE
Electric

By End Use
Household
Commercial
Others




By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
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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