Global Quadricycle Market Overview:
Quadricycle is basically a European Union vehicle category for four-wheeled micro-cars. This allows vehicles to be designed to less stringent requirements when compared to regular cars. Quadricycles are actually defined by limitations in terms of weight, engine power and speed. Vehicle makers are also 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. Some of the key players profiled in the study are Aixam-Mega (Polaris) (United States), Renault (France), Bajaj Group (India), Ligier Group (France), Club Car (Georgia), Ingersoll Rand (Ireland), Tazzari Zero (Italy), Casalini (Italy) and Automobiles Chatenet (France).
On the basis of geography, the market of Quadricycle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Mode of Operation, the sub-segment i.e. Electric Operated will boost the Quadricycle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Price Range, the sub-segment i.e. Economic will boost the Quadricycle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Quadricycle are of low cost as compare to city passenger cars, also the handling of quadricycle is also easy along with this there are lack of stringent regulations that are associated with the quadricycle market which are driving the market of quadricycle
- Elderly population are inclined towards the quadricycle as they do not seek high power vehicles
- Quadricycle offers limited protection facility
- Innovations and development of products with improved ergonomics
- Availability of substitute like passenger cars
Major Market Developments:
Ligier and Microcar quadricycles discover new driving pleasures, in complete safety. This new features allow customer to access smartphone's features and applications directly on quadricycle car radio. One can obtain routes, listen to favourite music and make phone call easily and this will always in complete safety.
The Ministry of Road Transport and Highways (India) has notified the insertion of quadricycle as a non-transport vehicle under the Motor Vehicles Act 1988. The government had approved quadricycle as a new category of vehicle to be allowed to run on Indian roads. The government had issued the final notification on the standards for quadricycle, such as its weight, emission and safety features.
Despite the presence of competition and brand effect problems, due to the awareness of end-users and their demand for high end products, investors are still optimistic about this area. There will be more new investors entering into this industry in the future. The manufacturers who want to occupy the market must depend on market mechanism reform, manufacturing equipment innovation, core technology improvement and brand establishment.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Quadricycle market on the basis of product [Light Quadricycles and Heavy Quadricycles] , application [Household and Commercial], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Quadricycle market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Quadricycle industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Quadricycle market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.