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
- Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
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:
By Type:
- Light Quadricycle
- Heavy Quadricycle
By Propulsion: Type
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
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
- 1.2.1. Motorized Quadricycle Market, by Region, 2019-2029 (USD Million)
- 1.2.2. Motorized Quadricycle Market, by Price Range, 2019-2029 (USD Million)
- 1.2.3. Motorized Quadricycle Market, by Type, 2019-2029 (USD Million)
- 1.2.4. Motorized Quadricycle Market, by Propulsion Type, 2019-2029 (USD Million)
- 1.2.5. Motorized Quadricycle Market, by End Use, 2019-2029 (USD Million)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Motorized Quadricycle Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Motorized Quadricycle Market Dynamics
- 3.1. Motorized Quadricycle Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand for lightweight vehicles
- 3.1.1.2. Rising traffic congestion
- 3.1.2. Market Challenges
- 3.1.2.1. Lack of passenger safety
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising cutting-edge technology in motorized quadricycles
- 3.1.3.2. Rising government initiatives regarding vehicle safety
Chapter 4. Global Motorized Quadricycle Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Motorized Quadricycle Market, by Price Range
- 6.1. Market Snapshot
- 6.2. Global Motorized Quadricycle Market by Price Range, Performance - Potential Analysis
- 6.3. Global Motorized Quadricycle Market Estimates & Forecasts by Price Range 2019-2029 (USD Million)
- 6.4. Motorized Quadricycle Market, Sub Segment Analysis
- 6.4.1. Low
- 6.4.2. Mid
- 6.4.3. High
Chapter 7. Global Motorized Quadricycle Market, by Type
- 7.1. Market Snapshot
- 7.2. Global Motorized Quadricycle Market by Type, Performance - Potential Analysis
- 7.3. Global Motorized Quadricycle Market Estimates & Forecasts by Type 2019-2029 (USD Million)
- 7.4. Motorized Quadricycle Market, Sub Segment Analysis
- 7.4.1. Light Quadricycle
- 7.4.2. Heavy Quadricycle
Chapter 8. Global Motorized Quadricycle Market, by Propulsion Type
- 8.1. Market Snapshot
- 8.2. Global Motorized Quadricycle Market by Propulsion Type, Performance - Potential Analysis
- 8.3. Global Motorized Quadricycle Market Estimates & Forecasts by Propulsion Type 2019-2029 (USD Million)
- 8.4. Motorized Quadricycle Market, Sub Segment Analysis
- 8.4.1. ICE
- 8.4.2. Electric
Chapter 9. Global Motorized Quadricycle Market, by End Use
- 9.1. Market Snapshot
- 9.2. Global Motorized Quadricycle Market by End Use, Performance - Potential Analysis
- 9.3. Global Motorized Quadricycle Market Estimates & Forecasts by End Use 2019-2029 (USD Million)
- 9.4. Motorized Quadricycle Market, Sub Segment Analysis
- 9.4.1. Household
- 9.4.2. Commercial
- 9.4.3. Others
Chapter 10. Global Motorized Quadricycle Market, Regional Analysis
- 10.1. Motorized Quadricycle Market, Regional Market Snapshot
- 10.2. North America Motorized Quadricycle Market
- 10.2.1. U.S. Motorized Quadricycle Market
- 10.2.1.1. Price Range breakdown estimates & forecasts, 2019-2029
- 10.2.1.2. Type breakdown estimates & forecasts, 2019-2029
- 10.2.1.3. Propulsion Type breakdown estimates & forecasts, 2019-2029
- 10.2.1.4. End Use breakdown estimates & forecasts, 2019-2029
- 10.2.2. Canada Motorized Quadricycle Market
- 10.3. Europe Motorized Quadricycle Market Snapshot
- 10.3.1. U.K. Motorized Quadricycle Market
- 10.3.2. Germany Motorized Quadricycle Market
- 10.3.3. France Motorized Quadricycle Market
- 10.3.4. Spain Motorized Quadricycle Market
- 10.3.5. Italy Motorized Quadricycle Market
- 10.3.6. Rest of Europe Motorized Quadricycle Market
- 10.4. Asia-Pacific Motorized Quadricycle Market Snapshot
- 10.4.1. China Motorized Quadricycle Market
- 10.4.2. India Motorized Quadricycle Market
- 10.4.3. Japan Motorized Quadricycle Market
- 10.4.4. Australia Motorized Quadricycle Market
- 10.4.5. South Korea Motorized Quadricycle Market
- 10.4.6. Rest of Asia Pacific Motorized Quadricycle Market
- 10.5. Latin America Motorized Quadricycle Market Snapshot
- 10.5.1. Brazil Motorized Quadricycle Market
- 10.5.2. Mexico Motorized Quadricycle Market
- 10.5.3. Rest of Latin America Motorized Quadricycle Market
- 10.6. Rest of The World Motorized Quadricycle Market
Chapter 11. Competitive Intelligence
- 11.1. Top Market Strategies
- 11.2. Company Profiles
- 11.2.1. Renault Group
- 11.2.1.1. Key Information
- 11.2.1.2. Overview
- 11.2.1.3. Financial (Subject to Data Availability)
- 11.2.1.4. Product Summary
- 11.2.1.5. Recent Developments
- 11.2.2. Italcar Industrial S.r.l.,
- 11.2.3. Bajaj Auto Ltd,
- 11.2.4. Piaggio & C. SpA,
- 11.2.5. Ligier Group,
- 11.2.6. Goupil,
- 11.2.7. Yamaha Golf-Car Company,
- 11.2.8. Alke,
- 11.2.9. Squad Mobility BV,
- 11.2.10. Mahindra Electric Mobility Limited
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
- 12.3. Research Assumption