The global quadricycle and tricycle market size reached US$ 6,729 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 12,250 Million by 2028, exhibiting a growth rate (CAGR) of 10.3% during 2023-2028.
A quadricycle, or microcar, is a four-wheeled cycle and a tricycle is a three-wheeled cycle with two wheels at the back and one at the front. They commonly consist of iron handlebars, chain drives, leather belts, buggy and rubber wheels. Quadricycles and tricycles are widely used for intra-city commuting, recreational activities, exercising and transporting cargo. They can be operated through pedals or powered using electric, solar and gasoline energy sources. These cycles can aid in enhancing the overall cost-effectiveness of short-distance travel and reducing the risks of developing chronic diseases. Quadricycles and tricycles occupy minimal road space, generate negligible emissions and are considered as a safe mode of transportation. In comparison to the traditionally used bicycles, tricycles and quadricycles offer enhanced stability and comfort and are widely used for personal and commercial applications.
Quadricycle and Tricycle Market Trends:
Significant growth in the logistics and food industries across the globe is creating a positive outlook for the market. Quadricycles and tricycles integrated with potable storage units are widely used by mobile food outlets and food carts for the delivery of their products. Additionally, the increasing consumer preference for quadricycles in place of four-wheelers for convenient maneuvering in high traffic areas and easy parking is positively impacting the market growth. Moreover, various technological advancements, such as the replacement of lead-acid batteries with lithium-ion (Li-ion) batteries in braking and suspension systems, are providing a thrust to the market growth. These batteries are safe, high temperature resistant and provide constant power and enhanced usable capacity. Other factors, including the implementation of government initiatives to support small electric vehicles (EVs), along with various product innovations, such as the development of electric cycles with glass roofs and heated interior cabins, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global quadricycle and tricyclemarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, power source type and application type.
Breakup by Vehicle Type:
Breakup by Power Source Type:
Breakup by Application Type:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aixam-Mega (Polaris Inc.), Bajaj Auto Limited, Bellier Automobiles, Bombardier Recreational Products Inc., Club Car, Estrima S.p.A, Ligier, Motor Trike Inc., Polaris Inc., Tazzari Gl Imola Spa, Urban Tricycles Ltd. and Worksman Cycles Company Inc.
Base Year of the Analysis
Vehicle Type, Power Source Type, Application Type, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Aixam-Mega (Polaris Inc.), Bajaj Auto Limited, Bellier Automobiles, Bombardier Recreational Products Inc., Club Car, Estrima S.p.A, Ligier, Motor Trike Inc., Polaris Inc., Tazzari Gl Imola Spa, Urban Tricycles Ltd. and Worksman Cycles Company Inc.
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Key Questions Answered in This Report
The global quadricycle and tricycle market was valued at US$ 6,729 Million in 2022.
We expect the global quadricycle and tricycle market to exhibit a CAGR of 10.3% during 2023-2028.
The rising demand for quadricycle and tricycle for intra-city commuting, recreational activities, exercising, and transporting cargo, as they offer enhanced stability and comfort is primarily driving the global quadricycle and tricycle market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for vehicles, thereby negatively impacting the global market for quadricycle and tricycle.
Based on the vehicle type, the global quadricycle and tricycle market can be segmented into quadricycle and tricycle. Currently, tricycle holds the majority of the total market share.
Based on the power source type, the global quadricycle and tricycle market has been divided into electric, gasoline, and solar. Among these, gasoline exhibits a clear dominance in the market.
Based on the application type, the global quadricycle and tricycle market can be categorized into personal and commercial. Currently, commercial accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global quadricycle and tricycle market include Aixam-Mega (Polaris Inc.), Bajaj Auto Limited, Bellier Automobiles, Bombardier Recreational Products Inc., Club Car, Estrima S.p.A, Ligier, Motor Trike Inc., Polaris Inc., Tazzari Gl Imola Spa, Urban Tricycles Ltd., and Worksman Cycles Company Inc.
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