Quadricycle Market Poised for Robust Growth, Forecasted to Expand at 11.9% CAGR from 2024-30

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Quadricycle market is projected to grow at a CAGR of around 11.9% during the forecast period, 2024-30.

Report Coverage

This report offers a comprehensive analysis of the Quadricycle Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2023
• Forecast Years: 2024-30
• Historical Years: 2019-22

Quadricycle Market Overview

The growing golf tourism, the proliferation of home delivery & parcel services, rising demand for light vehicles from various end-user sectors, and soaring fuel prices are the factors that would drive growth during the forecast period. The surging popularity of Golf across the globe is leading to the growth in the number of Golf Courses, further pushing the demand for golf equipment such as golf carts.

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Quadricycle Market Segmentation Outlook

The Quadricycle is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Type

• Light Quadricycle
• Heavy Quadricycle

By End User

• Commercial
  • Golf Course Management Services
  • Hospitality Sector
  • Airports
  • Others (Educational Institutes, Hospitals, Theme parks, etc.)
• Personal Mobility
• Industrial (Ports, Warehouse, etc.)
• Adventure Sports

By Propulsion Type

• Internal Combustion Engine
• Electric

By Price Range

• Economic
• Mid- range
• Premium

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Quadricycle Market Trend

Burgeoning Development of Advanced Electric Quadricycles by the Manufacturers: The rising fuel prices combined with the incentives provided by the government on the purchase of e-vehicles like New Zealand’s Clean Car Discount scheme(2021) and the UK’s  Electric Vehicle Homecharge Scheme have boosted the adoption of electric Quadricycles. Low complexity in manufacturing electric versions compared to combustion engine-based versions has driven the growth of electric versions during the historical years.

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Top Quadricycle Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies Polaris, Goupil, Alke, Bajaj Auto, Textron, Italian, Aixam Mega, Honda Motor Company, Ltd, Yamaha Motor Co., Ltd., Suzuki Motor Corporation, Ligier Group, Baxt, Estrima S.P.A, Groupe Renault, Citroën Ami, Tazari EV, Triggo, Global Electric Motorcar (Gem), etc.Others as key players shaping the market landscape.

Quadricycle Market News

• 2020: Goupil launched the G6, a 3-seater quadricycle, with Light and rain sensors, automatic lights & wipers activation, LCD HD color display,electric windows, and heated mirrors.
• 2021: Textron launched its new vehicle, the E-Z-GO Liberty, the vehicle operates with a high-performance, zero-maintenance Samsung SDI lithium-ion battery system. The vehicle offers four forward-facing seats in a compact, golf-car-sized footprint.
• 2022: Citreon Ami, the quadricycle range of Citreon, has launched its new variant, MY Ami Tonic. The new variant has a smartphone cradle, three storage bins, door nets, a central net in the cabin, a bag hook, floor mats, and a connection device to allow for smartphone connectivity with the My Citroën App.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2030?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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