(MENAFN- Ameliorate Digital Consultancy)
europe's motorized quadricycles market is set grow at a CAGR of ~5% 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 forecast to 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.
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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Analyst's Viewpoint
The PMR analysts remain highly optimistic about growth of the European market during the forecast period. As Europe continues to be the hub of automotive innovations, motorized quadricycles will see exponential rise in adoption, primarily in light-weight formats rather than heavy ones.
With electromobility making its mark in the automotive space, analysts are of the viewpoint that the sales of these will start plummeting at a considerable rate and demand for electrical variant will soar up at a considerable rate.
About Quadricycles
These are generally a European vehicle category of four-wheeled microcars defined by limitations in terms of weight, power, and speed. There are two categories defined such as light quadricycles (L6e), and heavy quadricycles (L7e).
This research report contains inclusive information about motorized quadricycles market trends, volume (Units) and value (US$ Mn) projection, dynamics, and recent developments in the market for the forecast period 2029.
The motorized quadricycles market is estimated to grow at a CAGR value of ~5%. Growing traffic congestion in European is expected to be one of the prime factors driving the growth of this market.
Segmentation
| Class | Light Quadricycles Heavy Quadricycles |
| Operation | Electric Conventional Fuel |
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