Pune, India., Feb. 13, 2023 (GLOBE NEWSWIRE) — The global Market size for motorized quadricycles is expected to grow from $0.97 billion in 2022 to $2.15 billion in 2029 at a CAGR of 11.9%. The market was valued at USD 0.90 billion in 2021 and is projected to grow significantly over the forecast period. Fortune Business Insights™ has published this information in a report titled Motorized Quadricycle Market, 2022-2029, which highlights growth and trends in the Motorized Quadricycle industry.
A motorized quadricycle, also known as a four-wheeled microcar, is a compact vehicle that offers the comfort of a car but with a smaller footprint and lower emissions. The growth of the market is attributed to the increasing demand for low-emission vehicles, rising fuel prices and the need for efficient transportation in urban areas.
According to the analysis, industry participants are ready to demonstrate traction for fuel-efficient vehicles in urban areas. At a time when traffic congestion has become a global problem, investing in a lightweight vehicle could gain in popularity in the aftermath. The increase in traffic congestion is likely to prompt industry players to invest funds in powered four-wheelers. The market is dominated by several major players including Aixam Mega, Ligier Group. These companies have a strong presence in the market, offering a range of powered four-wheelers that cater to the needs of different consumer segments.
Request a free sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/motorized-quadricycle-market-103473
Report Highlights:
| report coverage | details |
| forecast period | 2022-2029 |
| Forecast period 2022 to 2029 CAGR | 11.9% |
| Value prognosis 2029 | $2.15 billion |
| base year | 2021 |
| Market size in 2022 | $0.97 billion |
| Historical data for | 2018-2020 |
| number of pages | 400 |
The central theses:
- Increasing demand for lightweight vehicles for the motorized four-wheeler market…
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