According to the latest report by IMARC Group, titled “Quadricycle and Tricycle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” 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 is a four-wheeled vehicle and a tricycle is a three-wheeled cycle with one wheel at the front and two at the back. Both quadricycle and tricycle consist of chain drives, iron handlebars, leather belts, buggy, and rubber wheels. They are operated through pedals or powered using electric, solar, and gasoline energy sources. They help in coordination and muscle strength and reducing the risk of developing chronic diseases. Besides this, they occupy minimal road space, generate negligible emissions and assist in skipping traffic jams and commuting shorter distances at higher speeds.
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Quadricycle and Tricycle Market Trends and Drivers:
The expansion of logistics and food and beverage (F&B) industries across the globe is positively influencing the market. In addition, the increasing use of tricycles and quadricycles installed with portable storage for the delivery of food and other products is contributing to the market growth. Apart from this, shifting consumer preference for quadricycles for convenient maneuvering in high-traffic areas is offering lucrative growth opportunities to manufacturers. Furthermore, various initiatives undertaken by governments of several countries to support small electric vehicles (EVs) are driving the market.
Quadricycle and Tricycle Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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.
- Worksman Cycles Company Inc.
The report has segmented the market on the basis on region, vehicle type, power Source type, application type.
Breakup by Vehicle Type:
Breakup by Power Source Type:
Breakup by Application Type:
Breakup by Region
- North America
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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