Global Motorized Quadricycle Market 2018-2022 | 28% CAGR Projection Over the Next Four Years | Technavio
LONDON--(BUSINESS WIRE)--Dec 4, 2018-- analysts forecast the global motorized quadricycle market to grow at a CAGR of nearly 28% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global motorized quadricycle market for the period 2018-2022. (Graphic: Business Wire)
The launch of hydrogen fuel cell motorized quadricycle is one of the major trends being witnessed in the . Vehicle makers are focusing on developing motorized quadricycles with alternative powertrain to reduce emissions and carbon footprint. Moreover, the active support from the governing bodies to promote alternative energy motorized quadricycles is encouraging the manufacturers to develop hydrogen fuel motorized quadricycles. Certain companies are manufacturing to hydrogen fuel powertrain for motorized quadricycle makers.
According to Technavio analysts, one of the key factors contributing to the growth of the global motorized quadricycle market is the increasing need for an economical personal mode of transportation:
Global motorized quadricycle market: Increasing need for an economical personal mode of transportation
The rising need for low-cost modes of personal transportation drives the sales of motorized quadricycles in all regions. Motorized quadricycles offer a safer alternative to two-wheeler rides for commuting. Two-wheeler riders are constantly exposed to extremities of the weather. A motorized quadricycle offers increased weather protection by enclosing the occupants within a closed cabin. Moreover, the small size and lower engine capacity of the motorized quadricycles has increased the fuel efficiency of the vehicle.
According to a senior analyst at Technavio for research on automotive manufacturing, “A motorized quadricycle is an affordable option that requires low maintenance costs compared to two-wheelers. Two-wheelers were mainly viewed as the most economical mode of personal transport. However, the introduction of motorized quadricycles offers the benefit of protection apart from being less expensive than four-wheelers.”
Global motorized quadricycle market: Segmentation analysis
The global motorized quadricycle market research report provides market segmentation by operation type (conventional fuel and electric motorized) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
APAC led the market in 2017 with a market share of nearly 97%. This region is expected to dominate the market through 2022 with over 2% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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