Global Motorized Quadricycle Market to Reach Around USD 35.29 Billion by 2032, Aided by growing traffic congestion globally.

A motorized quadricycle is a four-wheeled motor vehicle that offers a speed range of 45 to 100 kilometres per hour. The Asia Pacific is the fastest-growing region to adopt such vehicles due to their affordability and sustainability.

The expanding population increases traffic congestion in densely populated countries like China, Japan, and India. The annual losses resulting from traffic congestion in Japan amount to around 5 billion person-hours.

Rising fuel prices and growing consumer awareness regarding sustainability create opportunities for the motorized quadricycle market expansion. Additionally, these vehicles are gaining massive popularity in tourism-centric countries like Thailand, Indonesia, and Jeju Island, South Korea. Hotels and resorts are incorporating such vehicles for easy transportation of their in-house guests.

New product development supports the market growth. In May 2023, Fiat Automobiles S.p.A. (NYSE: FCAM) launched an 8.3-foot-long motorized quadricycle named Topolino with a 5.5-kWh battery and a range of 75.6 km.

The car is equipped with a hot water bottle, Bluetooth speaker, USB fan, and seat covers that may be used as beach towels. Only one trim level is to be available for the Topolino, with only interior and wheel options.

It aims to provide an open version with detachable doors as well as a traditional closed version. Like the Citroen Ami, the Topolino has a top speed of 45 mph and is likely to be available in Europe. Due to a battery that is 94.5% smaller than that of the Tesla Model X, Fiat boasts of the vehicle's low carbon footprint.

Table: Top 10 cities with high traffic congestion, 2023

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Market Analysis by Product, Mode of Operation, Application, Price, and End-Use, and Region:

• The market, on the basis of product, can be divided into light quadricycle and heavy quadricycle.

• On the basis of mode of operation, the market can be divided into electric quadricycles and fuel-operated quadricycles, among others.

• Based on application, the market can be divided into household, and commercial, among others.

• The different prices of motorized quadricycle include economic, mid-range, and premium.

• The market, on the basis of end-use, can be divided into golf, leisure, and industrial, among others.

• The regional markets for motorized quadricycle include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• By 2030, 1 in 6 people will be aged 60 years or older globally. The growing geriatric population necessitates the application of motorized quadricycle for personal mobility.

• Around 3.4 billion people live in rural areas, and 50% of the world's population lives in urban areas. These quadricycles find applications for shared mobility. In rural areas of developing economies such as China and India, low- and mid-range motorized quadricycles are popular.

• In countries like Japan and China, electric motorized quadricycles are popular due to their affordability, low maintenance, and requirement for small parking areas. As a result, these have applications for commercial purposes as well.

• Technological developments such as the installation of lithium-ion batteries in suspension and braking systems aid in the motorized quadricycle market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global motorized quadricycle market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, modes of operation, applications, prices, end-uses, and major regions of motorized quadricycle.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global motorized quadricycle market are Groupe Renault, Polaris Inc., Ligier Group, Automobiles Chatenet, and Tazzari GL Imola SPA, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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