All updated as on -
By 2030, the market for quadricycles is anticipated to reach USD 41.9 billion, growing at a CAGR of 10.36% from 2023 to 2030.
Four-wheeled quadricycles, commonly referred to as quadcycles or microcars, with a top speed of 45 to 100 km per hour. It might apply more particularly to an all-terrain vehicle, sometimes referred to as a quad or quad bike. The first quadricycle car, sometimes known as a steam quadricycle, was propelled by a steam engine. A vehicle that goes slowly is referred to as a "quadricycle". It is a new type of compact, fuel-efficient car that is mostly utilised for local transportation in developed cities' heavily populated metropolitan regions. Additionally, these cars weigh less than conventional four-wheelers, which reduces their environmental carbon emissions. There are two different kinds of quadricycles: the L6e light quadricycle and the L7e heavy quadricycle. While big quadricycles are not restricted and can travel at speeds of up to 100 kmph, light quadricycles have a top speed of only 45 kmph. Contrarily, quadricycles are exempt from the stringent criteria and security evaluations that are applicable to passenger cars. They can operate a car and use public roads without a valid driver's licence.
Driving Factors
Numerous OEMs are working to improve battery-powered, lighter-weight quadricycles that can operate comparably to conventional cars while consuming less fuel in view of the rising levels of vehicle pollution throughout the world. Furthermore, these cars are anticipated to displace long-established taxis in the coming years due to two-wheel riders' vulnerability to severe weather. One step towards updating the rules governing alternative transportation and mobility infrastructure is the inclusion of the Bajaj Qute wide range in Uber's UberXS amenities. Additionally, to bring highly autonomous quadricycles to market, Original Equipment Manufacturers (OEMs) have made considerable investments in research and development.
Restraining Factors
Despite the adaptability, portability, and simplicity of driving advantages of quadricycles, these vehicles struggle to compete in poor countries because of their high manufacturing costs. Additionally, it is projected that the lack of passenger safety and poor speed of electric quadricycles may restrain market demand during the forecast period. Additionally, much fewer safety requirements are imposed by L7e vehicle registration legislation.
Report Coverage
Global Quadricycle research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Quadricycle report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Quadricycle competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Quadricycle market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Quadricycle market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Quadricycle market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Ligier Group, Renault Group, Aixam, Italcar Industrial S.r.l., Alke, Yogomo, Citroën, Honda Motor Co., Ltd., Mahindra & Mahindra Ltd., Toyota Motor Corporation, BELLIER AUTOMOBILES, Polaris Inc., Piaggio & C. SpA, Yamaha Golf-Car Company, Suzuki Motor Corporation
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Quadricycle market based on the below-mentioned segments:
Global Quadricycle Market, By Type
Global Quadricycle market, By Application
Global Quadricycle market, Regional Analysis
Four-wheeled quadricycles, commonly referred to as quadcycles or microcars, with a top speed of 45 to 100 km per hour. It might apply more particularly to an all-terrain vehicle, sometimes referred to as a quad or quad bike. The first quadricycle car, sometimes known as a steam quadricycle, was propelled by a steam engine. A vehicle that goes slowly is referred to as a "quadricycle". It is a new type of compact, fuel-efficient car that is mostly utilised for local transportation in developed cities' heavily populated metropolitan regions. Additionally, these cars weigh less than conventional four-wheelers, which reduces their environmental carbon emissions. There are two different kinds of quadricycles: the L6e light quadricycle and the L7e heavy quadricycle. While big quadricycles are not restricted and can travel at speeds of up to 100 kmph, light quadricycles have a top speed of only 45 kmph. Contrarily, quadricycles are exempt from the stringent criteria and security evaluations that are applicable to passenger cars. They can operate a car and use public roads without a valid driver's licence.
Driving Factors
Numerous OEMs are working to improve battery-powered, lighter-weight quadricycles that can operate comparably to conventional cars while consuming less fuel in view of the rising levels of vehicle pollution throughout the world. Furthermore, these cars are anticipated to displace long-established taxis in the coming years due to two-wheel riders' vulnerability to severe weather. One step towards updating the rules governing alternative transportation and mobility infrastructure is the inclusion of the Bajaj Qute wide range in Uber's UberXS amenities. Additionally, to bring highly autonomous quadricycles to market, Original Equipment Manufacturers (OEMs) have made considerable investments in research and development.
Restraining Factors
Despite the adaptability, portability, and simplicity of driving advantages of quadricycles, these vehicles struggle to compete in poor countries because of their high manufacturing costs. Additionally, it is projected that the lack of passenger safety and poor speed of electric quadricycles may restrain market demand during the forecast period. Additionally, much fewer safety requirements are imposed by L7e vehicle registration legislation.
Report Coverage
Global Quadricycle research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Quadricycle report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Quadricycle competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Quadricycle market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Ligier Group, Renault Group, Aixam, Italcar Industrial S.r.l., Alke, Yogomo, Citroën, Honda Motor Co., Ltd., Mahindra & Mahindra Ltd., Toyota Motor Corporation, BELLIER AUTOMOBILES, Polaris Inc., Piaggio & C. SpA, Yamaha Golf-Car Company, Suzuki Motor Corporation |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Quadricycle Market from 2021 to 2030.
- Market Forecast for Quadricycle Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Quadricycle competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Quadricycle
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Quadricycle market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Quadricycle market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Ligier Group, Renault Group, Aixam, Italcar Industrial S.r.l., Alke, Yogomo, Citroën, Honda Motor Co., Ltd., Mahindra & Mahindra Ltd., Toyota Motor Corporation, BELLIER AUTOMOBILES, Polaris Inc., Piaggio & C. SpA, Yamaha Golf-Car Company, Suzuki Motor Corporation
Primary Target Market
- Market Players of Quadricycle
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Quadricycle market based on the below-mentioned segments:
Global Quadricycle Market, By Type
- Heavy Quadricycle
- Light Quadricycle
Global Quadricycle market, By Application
- Household
- Commercial
- Resorts
- Others
Global Quadricycle market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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