The report presents an in-depth assessment of the Quadricycle and Tricycle Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Quadricycle and Tricycle investments from 2021 till 2025.
Quadricycle and Tricycle market is growing at a CAGR of 6% during the forecast period (2021-2025).
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The Quadricycle and Tricycle market is highly competitive and consists of a number of major players. Top Companies like Automobiles CHATENET, Ligier Group, Aixam-Mega, Bajaj Auto Ltd., Estrima Srl, Casalini srl, Worksman Cycles, Damius, Light Foot Cycles, Elektronio Wheels, Mahindra and Mahindra, Groupe Renault
Scope of the Report
– The rapid urbanization, increasing per capita income, and electrification are anticipated to fuel the demand for quadricycle and tricycle in the forecast period. These small powered, easy to drive vehicles have numerous applications.
– Quadricycle and tricycle are noticing various technological advancements like more and more Li-ion batteries getting replaced by manufacturers in place of lead-acid batteries, advancements in braking, and suspension.
– In general, the quadricycle has faced various obstacles to gain legal status in many countries. For instance, in India the Motor Vehicles Act 1988 kept this four-wheel modern version away from the roads. But in April 2018 Indian government loosened the regulations.
Key Market Trends
Electrification is driving the Quadricycle and Tricycle Market Growth
In 2020, Mahindra announced that it would launch of electric quadricycle Atom by the end of 2020. Atom is expected to be powered by a 48-kW electric motor with a power output of 20 hp and a top speed of 70 kmph. It would feature a swappable battery pack and intelligent connectivity system. Similarly, Bajaj Auto planning to launch an electric version of its quadricycle Qute along with electric three-wheelers next year.
Apart from established manufacturers, many new players are entering the market by launching their electric models. Strom Motors in India launched Strom-R3, which has a reverse trike configuration that has a single wheel at the rear and two wheels in the front. Also, it is fully electric and can cover 200km in single charge.
Europe Is Expected to Lead the Quadricycle and Tricycle Market
Europe is anticipated to lead the global quadricycle and tricycle market over the forecast period. This region characterized by the presence of major market participants. For instance, Citroen introduced the Ami in February 2020, an electric light quadricycle which features a glass roof, heated interior cabin, 5.5 kWh battery pack, and a 6-kW motor. It has about 44 km range, around 30 miles per hour top speed, and a starting price of USD 7,500 in France.
Similarly, in 2019, Ligier launched its CHIC JS50 / JS50L light quadricycle. These vehicles are customizable by color, finishes, engine, audio and multimedia preferences, and any additional equipment as well.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Quadricycle and Tricycle Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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