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Motorized Quadricycle Market

Motorized Quadricycle Market Forecasts to 2028 – Global Analysis By Price Range (Premium, Mid-Range, Economic), Application (Household, Commercial), End User, and By Geography

4.4 (81 reviews)
Published: June 2022 ID: SMRC21517
4.4 (81 reviews)
Published: June 2022 ID: SMRC21517

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Motorized Quadricycle Market is accounted for $0.92 billion in 2021 and is expected to reach $2.29 billion by 2028 growing at a CAGR of 13.9% during the forecast period. Motorized quadricycle is a mini fuel-efficient vehicle, which is majorly utilized in urban areas for local transportation amid high traffic congestions in developed cities. Motorized quadricycles have emerged as an alternative to small city cars and motorcycles.

Market Dynamics:

Driver:

Increasing demand for lightweight vehicles


Many manufacturers are focusing on developing lightweight quadricycles that can develop performance and control the fuel emission of the vehicle. The effort to utilize lightweight materials for manufacturing is likely to reduce the weight of the vehicle considerably. Therefore, the majority of the manufacturers are installing lightweight components that have fewer linkages and, in turn, would lead to increased performance and reduced fuel emissions, which is driving the market growth.

Restraint:

Lack of passenger safety


According to the World Health Organization (WHO), about 1.35 million people lost their lives in road accidents in 2020. So, occupant’s safety has become the main priority across the globe. Motorized quadricycles lack passenger safety even at a speed of 50 kmph. These tests included frontal and side crash tests, which exposed passengers’ safety in these vehicles. Therefore, a lack of awareness of passenger safety in current models will restrain the growth of the Motorized Quadricycle market.

Opportunity:

Rising traffic congestion issues


The high sales of vehicles because of the consumers’ increasing inclination toward cost-efficient and environment-friendly cars will act as a driving factor for the automobile sector. The rapid increase in vehicle sales resulted in traffic congestion and a lack of parking space in developing cities. This has fuelled the demand for compact and small-sized cars. Consumers have been increasingly inclined toward motorized quadricycles. This is because of their compact size and excellent maneuverability, which would lead to reduced traffic congestion. Also, low cost, reduced stringency of regulations, and tax benefits, especially on electric quadricycles, are likely to provide ample opportunities for the growth of the market.

Threat:

Decreasing R&D funding amid COVID-19


The pandemic situation acted as a challenging factor for the L-category vehicle dealers and manufacturers as the pandemic has possibly paralyzed the retail business activity. Also, it has caused a heavy impact on the development of new models. Manufacturers that are already struggling, owing to the pre-existing lack of financial and technical resources are more likely to require additional time, which further impacts the implementation of the standards across the region. The crisis places dealerships under extreme financial pressure as most of them are small family-run operations.

The light quadricycle (L6e) segment is expected to be the largest during the forecast period

The light quadricycle (L6e) segment is estimated to have a lucrative growth owing to the rising two-wheeler accidents and increasing cases of fatal injuries. These have a seating capacity of two people, are light in weight, and ensure the safety of passengers by protecting occupants from extreme weather conditions. Manufacturers are installing an anti-lock braking system (ABS) in these vehicles, which provides them with proper braking. Less emission and low cost of L6e vehicles are also likely to fuel the segment’s growth.

The internal combustion engine segment is expected to have the highest CAGR during the forecast period

The internal combustion engine segment is anticipated to witness the fastest CAGR growth during the forecast period because of the low cost and compact IC engine-based quadricycles are attaining high importance as they lower the carbon footprint compared to conventional compact vehicles. The increasing awareness among consumers about increasing vehicular pollution is one of the factors fueling the growth of the environment-friendly quadricycle.

Region with highest share:

Europe is projected to hold the largest market share during the forecast period due to various initiatives taken by the European Union (EU) to encourage the use of environment-friendly and compact vehicles to control traffic congestion on roads. Key manufacturing companies for quadricycles in this region have invested in R&D to develop highly autonomous quadricycles that will replace conventional taxis in the next few years.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period as consumers in these areas have a strong preference for cost-effective automobiles that can be utilized for everyday short-distance trips while avoiding traffic congestion.  Moreover, tax exemption and other tax benefits will further propel product adoption across the region.

Key players in the market

Some of the key players profiled in the Motorized Quadricycle Market include Alke, Yogomo, Yamaha Golf-Car Company, Goupil, Renault, Polaris, Ligier Group, Ingersoll Rand, Chatenet, Bajaj Auto, Textron Inc., Aixam-Mega and Italcar.

Key Developments:

In January 2019, Ligier Group introduced Next-generation DCI and progress engines for quadricycles to optimize its performance.

In March 2018, Chatenet launched CH46, its new addition to the light quadricycle product range. Its special features include 6kW power, EURO 4 EVO Engine, Front-wheel Drive, etc.
 
Propulsion Types Covered:
• Internal Combustion Engine 
• Fuel Operated Quadricycles 
• Electric 
 
Types Covered:
• Heavy Quadricycle (L7e)
• Light Quadricycle (L6e)
 
Price Ranges Covered:
• Premium
• Mid-Range
• Economic
 
Applications Covered:
• Household
• Commercial
 
End Users Covered:
• Leisure
• Industrial
• Golf

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

 

1 Executive Summary         
            
2 Preface    
      
 2.1 Abstract         
 2.2 Stake Holders        
 2.3 Research Scope        
 2.4 Research Methodology       
  2.4.1 Data Mining       
  2.4.2 Data Analysis       
  2.4.3 Data Validation       
  2.4.4 Research Approach        
 2.5 Research Sources        
  2.5.1 Primary Research Sources      
  2.5.2 Secondary Research Sources      
  2.5.3 Assumptions       
           
3 Market Trend Analysis        
 3.1 Introduction        
 3.2 Drivers         
 3.3 Restraints        
 3.4 Opportunities        
 3.5 Threats         
 3.6 Application Analysis       
 3.7 End User Analysis        
 3.8 Emerging Markets        
 3.9 Impact of Covid-19        
           
4 Porters Five Force Analysis        
 4.1 Bargaining power of suppliers       
 4.2 Bargaining power of buyers       
 4.3 Threat of substitutes       
 4.4 Threat of new entrants       
 4.5 Competitive rivalry        
           
5 Global Motorized Quadricycle Market, By Propulsion Type     
 5.1 Introduction        
 5.2 Internal Combustion Engine       
 5.3 Fuel Operated Quadricycles       
 5.4 Electric         
           
6 Global Motorized Quadricycle Market, By Type      
 6.1 Introduction        
 6.2 Heavy Quadricycle (L7e)        
 6.3 Light Quadricycle (L6e)       
           
7 Global Motorized Quadricycle Market, By Price Range     
 7.1 Introduction        
 7.2 Premium         
 7.3 Mid-Range        
 7.4 Economic         
           
8 Global Motorized Quadricycle Market, By Application     
 8.1 Introduction        
 8.2 Household        
 8.3 Commercial        
           
9 Global Motorized Quadricycle Market, By End User      
 9.1 Introduction        
 9.2 Leisure         
 9.3 Industrial         
 9.4 Golf         
           
10 Global Motorized Quadricycle Market, By Geography     
 10.1 Introduction        
 10.2 North America        
  10.2.1 US        
  10.2.2 Canada        
  10.2.3 Mexico        
 10.3 Europe         
  10.3.1 Germany         
  10.3.2 UK        
  10.3.3 Italy        
  10.3.4 France        
  10.3.5 Spain        
  10.3.6 Rest of Europe       
 10.4 Asia Pacific        
  10.4.1 Japan        
  10.4.2 China        
  10.4.3 India        
  10.4.4 Australia         
  10.4.5 New Zealand       
  10.4.6 South Korea       
  10.4.7 Rest of Asia Pacific       
 10.5 South America        
  10.5.1 Argentina       
  10.5.2 Brazil        
  10.5.3 Chile        
  10.5.4 Rest of South America      
 10.6 Middle East & Africa       
  10.6.1 Saudi Arabia       
  10.6.2 UAE        
  10.6.3 Qatar        
  10.6.4 South Africa       
  10.6.5 Rest of Middle East & Africa      
           
11 Key Developments         
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures    
 11.2 Acquisitions & Mergers       
 11.3 New Product Launch       
 11.4 Expansions        
 11.5 Other Key Strategies       
           
12 Company Profiling         
 12.1 Alke         
 12.2 Yogomo          
 12.3 Yamaha Golf-Car Company       
 12.4 Goupil         
 12.5 Renault          
 12.6 Polaris         
 12.7 Ligier Group        
 12.8 Ingersoll Rand        
 12.9 Groupe Renault        
 12.10 Chatenet         
 12.11 Bajaj Auto        
 12.12 Textron Inc.        
 12.13 Aixam-Mega        
 12.14 Italcar         
           
List of Tables          
1 Global Motorized Quadricycle Market Outlook, By Region (2020-2028) ($MN)   
2 Global Motorized Quadricycle Market Outlook, By Propulsion Type (2020-2028) ($MN)  
3 Global Motorized Quadricycle Market Outlook, By Internal Combustion Engine (2020-2028) ($MN) 
4 Global Motorized Quadricycle Market Outlook, By Fuel Operated Quadricycles (2020-2028) ($MN) 
5 Global Motorized Quadricycle Market Outlook, By Electric (2020-2028) ($MN)   
6 Global Motorized Quadricycle Market Outlook, By Type (2020-2028) ($MN)   
7 Global Motorized Quadricycle Market Outlook, By Heavy Quadricycle (L7e) (2020-2028) ($MN) 
8 Global Motorized Quadricycle Market Outlook, By Light Quadricycle (L6e) (2020-2028) ($MN)  
9 Global Motorized Quadricycle Market Outlook, By Price Range (2020-2028) ($MN)   
10 Global Motorized Quadricycle Market Outlook, By Premium (2020-2028) ($MN)   
11 Global Motorized Quadricycle Market Outlook, By Mid-Range (2020-2028) ($MN)   
12 Global Motorized Quadricycle Market Outlook, By Economic (2020-2028) ($MN)   
13 Global Motorized Quadricycle Market Outlook, By Application (2020-2028) ($MN)   
14 Global Motorized Quadricycle Market Outlook, By Household (2020-2028) ($MN)   
15 Global Motorized Quadricycle Market Outlook, By Commercial (2020-2028) ($MN)   
16 Global Motorized Quadricycle Market Outlook, By End User (2020-2028) ($MN)   
17 Global Motorized Quadricycle Market Outlook, By Leisure (2020-2028) ($MN)   
18 Global Motorized Quadricycle Market Outlook, By Industrial (2020-2028) ($MN)   
19 Global Motorized Quadricycle Market Outlook, By Golf (2020-2028) ($MN)   
20 North America Motorized Quadricycle Market Outlook, By Country (2020-2028) ($MN)  
21 North America Motorized Quadricycle Market Outlook, By Propulsion Type (2020-2028) ($MN) 
22 North America Motorized Quadricycle Market Outlook, By Internal Combustion Engine (2020-2028) ($MN)
23 North America Motorized Quadricycle Market Outlook, By Fuel Operated Quadricycles (2020-2028) ($MN)
24 North America Motorized Quadricycle Market Outlook, By Electric (2020-2028) ($MN)  
25 North America Motorized Quadricycle Market Outlook, By Type (2020-2028) ($MN)   
26 North America Motorized Quadricycle Market Outlook, By Heavy Quadricycle (L7e) (2020-2028) ($MN) 
27 North America Motorized Quadricycle Market Outlook, By Light Quadricycle (L6e) (2020-2028) ($MN) 
28 North America Motorized Quadricycle Market Outlook, By Price Range (2020-2028) ($MN)  
29 North America Motorized Quadricycle Market Outlook, By Premium (2020-2028) ($MN)  
30 North America Motorized Quadricycle Market Outlook, By Mid-Range (2020-2028) ($MN)  
31 North America Motorized Quadricycle Market Outlook, By Economic (2020-2028) ($MN)  
32 North America Motorized Quadricycle Market Outlook, By Application (2020-2028) ($MN)  
33 North America Motorized Quadricycle Market Outlook, By Household (2020-2028) ($MN)  
34 North America Motorized Quadricycle Market Outlook, By Commercial (2020-2028) ($MN)  
35 North America Motorized Quadricycle Market Outlook, By End User (2020-2028) ($MN)  
36 North America Motorized Quadricycle Market Outlook, By Leisure (2020-2028) ($MN)  
37 North America Motorized Quadricycle Market Outlook, By Industrial (2020-2028) ($MN)  
38 North America Motorized Quadricycle Market Outlook, By Golf (2020-2028) ($MN)   
39 Europe Motorized Quadricycle Market Outlook, By Country (2020-2028) ($MN)   
40 Europe Motorized Quadricycle Market Outlook, By Propulsion Type (2020-2028) ($MN)  
41 Europe Motorized Quadricycle Market Outlook, By Internal Combustion Engine (2020-2028) ($MN) 
42 Europe Motorized Quadricycle Market Outlook, By Fuel Operated Quadricycles (2020-2028) ($MN) 
43 Europe Motorized Quadricycle Market Outlook, By Electric (2020-2028) ($MN)   
44 Europe Motorized Quadricycle Market Outlook, By Type (2020-2028) ($MN)   
45 Europe Motorized Quadricycle Market Outlook, By Heavy Quadricycle (L7e) (2020-2028) ($MN) 
46 Europe Motorized Quadricycle Market Outlook, By Light Quadricycle (L6e) (2020-2028) ($MN)  
47 Europe Motorized Quadricycle Market Outlook, By Price Range (2020-2028) ($MN)   
48 Europe Motorized Quadricycle Market Outlook, By Premium (2020-2028) ($MN)   
49 Europe Motorized Quadricycle Market Outlook, By Mid-Range (2020-2028) ($MN)   
50 Europe Motorized Quadricycle Market Outlook, By Economic (2020-2028) ($MN)   
51 Europe Motorized Quadricycle Market Outlook, By Application (2020-2028) ($MN)   
52 Europe Motorized Quadricycle Market Outlook, By Household (2020-2028) ($MN)   
53 Europe Motorized Quadricycle Market Outlook, By Commercial (2020-2028) ($MN)   
54 Europe Motorized Quadricycle Market Outlook, By End User (2020-2028) ($MN)   
55 Europe Motorized Quadricycle Market Outlook, By Leisure (2020-2028) ($MN)   
56 Europe Motorized Quadricycle Market Outlook, By Industrial (2020-2028) ($MN)   
57 Europe Motorized Quadricycle Market Outlook, By Golf (2020-2028) ($MN)   
58 Asia Pacific Motorized Quadricycle Market Outlook, By Country (2020-2028) ($MN)   
59 Asia Pacific Motorized Quadricycle Market Outlook, By Propulsion Type (2020-2028) ($MN)  
60 Asia Pacific Motorized Quadricycle Market Outlook, By Internal Combustion Engine (2020-2028) ($MN) 
61 Asia Pacific Motorized Quadricycle Market Outlook, By Fuel Operated Quadricycles (2020-2028) ($MN) 
62 Asia Pacific Motorized Quadricycle Market Outlook, By Electric (2020-2028) ($MN)   
63 Asia Pacific Motorized Quadricycle Market Outlook, By Type (2020-2028) ($MN)   
64 Asia Pacific Motorized Quadricycle Market Outlook, By Heavy Quadricycle (L7e) (2020-2028) ($MN) 
65 Asia Pacific Motorized Quadricycle Market Outlook, By Light Quadricycle (L6e) (2020-2028) ($MN) 
66 Asia Pacific Motorized Quadricycle Market Outlook, By Price Range (2020-2028) ($MN)  
67 Asia Pacific Motorized Quadricycle Market Outlook, By Premium (2020-2028) ($MN)  
68 Asia Pacific Motorized Quadricycle Market Outlook, By Mid-Range (2020-2028) ($MN)  
69 Asia Pacific Motorized Quadricycle Market Outlook, By Economic (2020-2028) ($MN)  
70 Asia Pacific Motorized Quadricycle Market Outlook, By Application (2020-2028) ($MN)  
71 Asia Pacific Motorized Quadricycle Market Outlook, By Household (2020-2028) ($MN)  
72 Asia Pacific Motorized Quadricycle Market Outlook, By Commercial (2020-2028) ($MN)  
73 Asia Pacific Motorized Quadricycle Market Outlook, By End User (2020-2028) ($MN)   
74 Asia Pacific Motorized Quadricycle Market Outlook, By Leisure (2020-2028) ($MN)   
75 Asia Pacific Motorized Quadricycle Market Outlook, By Industrial (2020-2028) ($MN)  
76 Asia Pacific Motorized Quadricycle Market Outlook, By Golf (2020-2028) ($MN)   
77 South America Motorized Quadricycle Market Outlook, By Country (2020-2028) ($MN)  
78 South America Motorized Quadricycle Market Outlook, By Propulsion Type (2020-2028) ($MN) 
79 South America Motorized Quadricycle Market Outlook, By Internal Combustion Engine (2020-2028) ($MN)
80 South America Motorized Quadricycle Market Outlook, By Fuel Operated Quadricycles (2020-2028) ($MN)
81 South America Motorized Quadricycle Market Outlook, By Electric (2020-2028) ($MN)  
82 South America Motorized Quadricycle Market Outlook, By Type (2020-2028) ($MN)   
83 South America Motorized Quadricycle Market Outlook, By Heavy Quadricycle (L7e) (2020-2028) ($MN) 
84 South America Motorized Quadricycle Market Outlook, By Light Quadricycle (L6e) (2020-2028) ($MN) 
85 South America Motorized Quadricycle Market Outlook, By Price Range (2020-2028) ($MN)  
86 South America Motorized Quadricycle Market Outlook, By Premium (2020-2028) ($MN)  
87 South America Motorized Quadricycle Market Outlook, By Mid-Range (2020-2028) ($MN)  
88 South America Motorized Quadricycle Market Outlook, By Economic (2020-2028) ($MN)  
89 South America Motorized Quadricycle Market Outlook, By Application (2020-2028) ($MN)  
90 South America Motorized Quadricycle Market Outlook, By Household (2020-2028) ($MN)  
91 South America Motorized Quadricycle Market Outlook, By Commercial (2020-2028) ($MN)  
92 South America Motorized Quadricycle Market Outlook, By End User (2020-2028) ($MN)  
93 South America Motorized Quadricycle Market Outlook, By Leisure (2020-2028) ($MN)  
94 South America Motorized Quadricycle Market Outlook, By Industrial (2020-2028) ($MN)  
95 South America Motorized Quadricycle Market Outlook, By Golf (2020-2028) ($MN)   
96 Middle East & Africa Motorized Quadricycle Market Outlook, By Country (2020-2028) ($MN)  
97 Middle East & Africa Motorized Quadricycle Market Outlook, By Propulsion Type (2020-2028) ($MN) 
98 Middle East & Africa Motorized Quadricycle Market Outlook, By Internal Combustion Engine (2020-2028) ($MN)
99 Middle East & Africa Motorized Quadricycle Market Outlook, By Fuel Operated Quadricycles (2020-2028) ($MN)
100 Middle East & Africa Motorized Quadricycle Market Outlook, By Electric (2020-2028) ($MN)  
101 Middle East & Africa Motorized Quadricycle Market Outlook, By Type (2020-2028) ($MN)  
102 Middle East & Africa Motorized Quadricycle Market Outlook, By Heavy Quadricycle (L7e) (2020-2028) ($MN)
103 Middle East & Africa Motorized Quadricycle Market Outlook, By Light Quadricycle (L6e) (2020-2028) ($MN)
104 Middle East & Africa Motorized Quadricycle Market Outlook, By Price Range (2020-2028) ($MN) 
105 Middle East & Africa Motorized Quadricycle Market Outlook, By Premium (2020-2028) ($MN)  
106 Middle East & Africa Motorized Quadricycle Market Outlook, By Mid-Range (2020-2028) ($MN) 
107 Middle East & Africa Motorized Quadricycle Market Outlook, By Economic (2020-2028) ($MN)  
108 Middle East & Africa Motorized Quadricycle Market Outlook, By Application (2020-2028) ($MN) 
109 Middle East & Africa Motorized Quadricycle Market Outlook, By Household (2020-2028) ($MN) 
110 Middle East & Africa Motorized Quadricycle Market Outlook, By Commercial (2020-2028) ($MN) 
111 Middle East & Africa Motorized Quadricycle Market Outlook, By End User (2020-2028) ($MN)  
112 Middle East & Africa Motorized Quadricycle Market Outlook, By Leisure (2020-2028) ($MN)  
113 Middle East & Africa Motorized Quadricycle Market Outlook, By Industrial (2020-2028) ($MN)  
114 Middle East & Africa Motorized Quadricycle Market Outlook, By Golf (2020-2028) ($MN)  
           

 

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