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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Motorized Quadricycle Market Size
The global motorized quadricycle market reached a value of approximately USD 20.04 billion in 2023. The market is projected to grow at a CAGR of 6.5% between 2024 and 2032, reaching a value of around USD 35.29 billion by 2032.
Motorized Quadricycle Market Outlook
- According to the HEV TCP annual report 2023, the total number of quadricycles produced as of December 31st, 2022, was 69,568.
- According to SIAM annual report 2021-2022, the number of quadricycles produced in the year was 4,061.
- In 2023, Bolt introduced Bajaj Qute rides in Johannesburg, offering cost-effective quadricycle trips with plans for broader expansion.
Motorized Quadricycle Market Report Snapshots
Motorized Quadricycle Market Size
Motorized Quadricycle Market Growth
Motorized Quadricycle Market Trends
Motorized Quadricycle Market Share
Motorized Quadricycle Manufacturers
Motorized Quadricycle Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 20.04 billion in 2023.
The market is projected to grow at a CAGR of 6.5 % between 2024 and 2032.
The revenue generated from the motorized quadricycle market is expected to reach USD 35.29 billion in 2032.
The heightened deployment of motorized quadricycles across semi-urban and urban areas for transportation and leisure purposes, rising demand for motorized quadricycles in the commercial and industrial areas, and increasing affordability of motorized quadricycles are the major drivers of the market.
The key trends in the market include the technological upgradations, innovative products developments, increasing popularity of electric quadricycles, and rising use in golf.
The market is categorised according to the product, which includes light quadricycle and heavy quadricycle.
Based on the application, the market is divided into household, commercial, and others.
The market key players are Groupe Renault, Polaris Inc., Ligier Group, Automobiles Chatenet, and Tazzari GL Imola SPA, among others.
Based on the mode of operation, the market is divided into electric quadricycles, fuel-operated quadricycles, and others.
Based on the price, the market is divided into economic, mid-range, and premium.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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