Motorized Quadricycle Market Analysis

Motorized Quadricycle Market by Type (Light Quadricycle, Heavy Quadricycle), by Propulsion Type: Global Opportunity Analysis and Industry Forecast, 2021-2031

PORTLAND, OR, UNITED STATES, March 1, 2023 /EINPresswire.com/ -- The rise in traffic congestion, increase in demand for lightweight vehicles, and stringent government rules and regulations across the world drive the global motorized quadricycle market. Based on region, Europe held the largest share in 2021, contributing to nearly half of the global motorized quadricycle market share.

Leading market players of the global motorized quadricycle market analyzed in the research include 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.

The research provides detailed segmentation of the global motorized quadricycle market based on type, propulsion type, end-use, price range, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

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Based on type, the light quadricycle segment held the highest share in 2021, accounting for more than two-thirds of the global motorized quadricycle market, and is expected to continue its leadership status during the forecast period. However, the heavy quadricycle segment is expected to register the highest CAGR of 10.6% from 2022 to 2031.

Based on propulsion type, the ICE vehicle segment accounted for the highest share in 2021, contributing to more than 90% of the global motorized quadricycle market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the electric vehicle segment is expected to manifest the highest CAGR of 10.5% from 2022 to 2031.

Based on end use, the others segment accounted for the highest share in 2021, holding more than two-thirds of the global motorized quadricycle market, and is expected to continue its leadership status during the forecast period. However, the commercial segment is estimated to grow at the highest CAGR of 11.2% during the forecast period.

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Based on price range, the mid-segment accounted for the highest share in 2021, holding more than two-thirds of the global motorized quadricycle market, and is expected to continue its leadership status during the forecast period. However, the high segment is estimated to grow at the highest CAGR of 10.5% during the forecast period.

Based on region, Europe held the largest share in 2021, contributing to nearly half of the global motorized quadricycle market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, North America is expected to manifest the fastest CAGR of 13.1% during the forecast period.

The report provides a detailed analysis of these key players in the global motorized quadricycle market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

David Correa
Allied Analytics LLP
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