Industry Background:
Quadricycle is basically a European Union vehicle category for four-wheeled micro-cars. This allows vehicles to be designed to less stringent requirements when compared to regular cars. Quadricycles are actually defined by limitations in terms of weight, engine power and speed. Vehicle makers are also 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.This growth is primarily driven by Quadricycle are of low cost as compare to city passenger cars, also the handling of quadricycle is also easy along with this there are lack of stringent regulations that are associated with the quadricycle market which are driving the market of quadricycle.
Globally, a noticeable market trend is evident Elderly population are inclined towards the quadricycle as they do not seek high power vehicles. Major Vendors, such as Aixam-Mega (Polaris) (United States), Renault (France), Bajaj Group (India), Ligier Group (France), Club Car (Georgia), Ingersoll Rand (Ireland), Tazzari Zero (Italy), Casalini (Italy) and Automobiles Chatenet (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Ligier and Microcar quadricycles discover new driving pleasures, in complete safety. This new features allow customer to access smartphone's features and applications directly on quadricycle car radio. One can obtain routes, listen to favourite music and make phone call easily and this will always in complete safety.
Regulatory Insights:
The Ministry of Road Transport and Highways (India) has notified the insertion of quadricycle as a non-transport vehicle under the Motor Vehicles Act 1988. The government had approved quadricycle as a new category of vehicle to be allowed to run on Indian roads. The government had issued the final notification on the standards for quadricycle, such as its weight, emission and safety features.
Market Drivers
- Quadricycle are of low cost as compare to city passenger cars, also the handling of quadricycle is also easy along with this there are lack of stringent regulations that are associated with the quadricycle market which are driving the market of quadricycle
Market Trend
- Elderly population are inclined towards the quadricycle as they do not seek high power vehicles
Restraints
- Quadricycle offers limited protection facility
Opportunities
Innovations and development of products with improved ergonomics
Challenges
Availability of substitute like passenger cars
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Quadricycle Study Sheds Light on
The Quadricycle Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Quadricycle industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Quadricycle industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.