Press Release
Press Release
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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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.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Mode of Operation |
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Breakup by Application |
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Breakup by Price |
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Breakup by End-Use |
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Breakup by Region |
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