According to a recent market intelligence by Persistence Market Research (PMR), the motorized quadricycles market in Europe was valued at ~US$ 400 Mn in 2014, and is expected to surpass ~US$ 500 Mn by the end of 2019. Europe’s motorized quadricycles market is set grow at a CAGR of ~5% between 2019 and 2029, and is estimated to reach a value of ~US$ 800 Mn by the end of 2029, as indicated by PMR’s report.
The study delivers key insights on the motorized quadricycles market, which includes the Europe industry analysis 2014 – 2018 and forecast 2019-2029. The report includes a detailed analysis of the motorized quadricycles market and contains an in-depth analysis for the subsequent ten years.
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Lightweight Quadricycles Remain Sought-after
Thorough assessment of the market concludes that the motorized quadricycles market in Europe can be segmented into light quadricycles and heavy quadricycles. Light quadricycles are more popular among the young and elderly population of Europe owing to the lenient government regulations for light quadricycles driving license. A person only requires an AM category license to drive a light quadricycle. Furthermore, some of the heavy quadricycle models such as, Bajaj Qute, Renault TWIZY, etc. also gained traction in the Europe quadricycles market.
By analysis of the market on the basis of operation, the motorized quadricycles market will continue to see pronounced growth in adoption of conventional fuel owing to its several advantages over electric-powered quadricycles. A majority of the consumers in Europe prefer conventional fuel quadricycles over electric quadricycles, as they are more suitable for long distance travels and have economical price point.
Country-wise analysis of Europe’s motorized quadricycles market reveals that Spain will continue to reflect a significant growth potential for the motorized quadricycles market over the forecast period. However, France is expected to be a prominent region in the motorized quadricycles market owing to the presence of prominent quadricycle manufacturers in the country.
Competition Analysis: Europe Motorized Quadricycles Market
The motorized quadricycles market can be classified as a consolidated market owing to a limited number of quadricycle manufacturers in the region. Tier-wise assessment of the Europe’s motorized quadricycles market unleashes that the market challengers account for just about ~10% shares in the motorized quadricycles market revenues. On the other hand, prominent players in the motorized quadricycles market are adopting business expansion, product development, acquisition, and collaboration strategies in a bid to capture significant shares in the market.
- In January 2019, Ligier Group introduced Next-generation DCI and progress engines for quadricycles to optimize its performance.
- In January 2019, Ligier launched its brand-new CHIC JS50/JS50L range of vehicles, under the brand name Automobiles Ligier.
- In 2017, Aixam Mega introduced its new e AIXAM range of quadricycles in the Italy market.
Some of the key players identified across the value chain of the global motorized quadricycles market includes Automobiles CHATENET, Ligier Group, Bajaj Auto Ltd., Estrima Srl, Tecno Meccanica Imola SpA, Aixam-Mega, Casalini Srl, and Bellier Automobiles. Among which Aixam-Mega, Ligier Group, Renault SA, and Casalini Srl are the prominent market players in the motorized quadricycles market in Europe with a significant market share.
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The report on the motorized quadricycles market also offers key forecast and macroeconomic factors that are anticipated to drive the growth of the motorized quadricycles market. Furthermore, the report on the motorized quadricycles market also covers potential factors, which can restrain the market growth, along with the latest trends and potential opportunities in the market across the value chain.