Global Motorized Quadricycle Market 2018-2022

Global Motorized Quadricycle Market 2018-2022

About this market

Electric quadricycles have a lower carbon footprint as compared to conventional four-and two-wheelers. Progressing awareness about environmental pollution is encouraging the buyers to invest in electric vehicles. Electric motorized quadricycles offer increased saving on fuel costs. For instance, NISSAN MOTOR's New Mobility Concept vehicles launched in Japan were mainly preferred by users due to their lower maintenance costs, low energy consumption, and limited requirement for parking, especially within busy city areas. Sales and production of motorized quadricycles are anticipated to increase during the forecast period as it offers an affordable and convenient mode of personal transport.

Market Overview

Increasing need for an economical personal mode of transportation

The rising need for low-cost modes of personal transportation drives the sales of motorized quadricycles in all regions. Motorized quadricycles offer a safer alternative to two-wheeler riders for commuting. Two-wheeler riders are constantly exposed to extremities of the weather. A motorized quadricycle offers increased weather protection by enclosing the occupants within a closed cabin.

Lack of safety of motorized quadricycles

Quadricycles are small vehicles that weigh about 450 kg with a maximum speed of about 45 miles per hour. These vehicles are built as a cost-effective mode of transportation. A large number of countries do not have a specific vehicle classification or prescribed safety standards for motorized quadricycles.

For the detailed list of factors that will drive and challenge the growth of the motorized quadricycle market during the 2018-2022, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including Renault and TECNO MECCANICA IMOLA the competitive environment is quite intense. Factors such as the increasing need for an economical personal mode of transportation, will provide considerable growth opportunities to motorized quadricycle manufactures. Bajaj Auto, Ligier Group, Mahindra & Mahindra, Polaris Industries, Renault, and TECNO MECCANICA IMOLA are some of the major companies covered in this report.

PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Motorized Quadricycle Market 2018-2022

Technavio recognizes the following companies as the key players in the global motorized quadricycle market: Bajaj Auto, Ligier Group, Mahindra & Mahindra, Polaris Industries, Renault, and TECNO MECCANICA IMOLA

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is launch of hydrogen fuel cell motorized quadricycle. Vehicle makers are focusing on developing motorized quadricycles with alternative powertrain to reduce emissions and carbon footprint. Moreover, the active support from the governing bodies to promote alternative energy motorized quadricycles is encouraging the manufacturers to develop hydrogen fuel motorized quadricycles.”

According to the report, one driver in the market is increasing need for an economical personal mode of transportation. The rising need for low-cost modes of personal transportation drives the sales of motorized quadricycles in all regions. Motorized quadricycles offer a safer alternative to two-wheeler riders for commuting. Two-wheeler riders are constantly exposed to extremities of the weather. A motorized quadricycle offers increased weather protection by enclosing the occupants within a closed cabin

Further, the report states that one challenge in the market is lack of safety of motorized quadricycles. Quadricycles are small vehicles that weigh about 450 kg with a maximum speed of about 45 miles per hour. These vehicles are built as a cost-effective mode of transportation. A large number of countries do not have a specific vehicle classification or prescribed safety standards for motorized quadricycles.

Companies Mentioned

Bajaj Auto

Ligier Group

Mahindra & Mahindra

Polaris Industries

Renault

TECNO MECCANICA IMOLA