Growing trending Activities Fuel Demand in the Quadricycle Market Forecast 2030

Global Quadricycle Market Overview:

According to MarkNtel Advisors study the Global Quadricycle market is projected to grow at a CAGR of around 11.9% during the forecast period, 2024-30. The growing golf tourism, the proliferation of home delivery & parcel services, rising demand for light vehicles from various end-user sectors, and soaring fuel prices are the factors that would drive growth during the forecast period. The surging popularity of Golf across the globe is leading to the growth in the number of Golf Courses, further pushing the demand for golf equipment such as golf carts.

Key Findings of the Study: Quadricycle market

Quadricycle Market Possible Restraint:

Lack of Passenger Safety is Hampering the Market Growth: The lack of safety features is acting as a restraint in the growth of the Market. The Quadricycles have shown poor results in tests carried out by the vehicle safety organization EuroNCAP with some exhibiting serious risks of life-threatening injuries. Owing which many countries are against the idea of introducing quadricycles as mainstream passenger vehicles which is leading to the deprival of quadricycles from the passenger and personal use segment causing a loss of opportunity.

Most of the quadricycle models are either covered using lightweight material or there are just left open from above like in the case of golf carts which results in serious risks of life-threatening injuries when met with accidents. Even though many quadricycles are fully type-approved for use on public roads, they showcase severe safety problems. The quadricycles have a high potential for sales but safety concerns are hampering the growth by creating consumer suspicion at the global level.

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Scope of the Quadricycle Market Report Segmentation

-By Type

Light Quadricycle
Heavy Quadricycle

-By End User

Commercial
Personal Mobility
Industrial (Ports, Warehouse, etc.)
Adventure Sports

-By Propulsion Type

Internal Combustion Engine
Electric

-By Price Range

Economic
Mid- range
Premium

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Geographical analysis:

-By Region

North America
South America
Europe
Asia-Pacific
Middle East & Africa

Historically, North America was one of the largest consumers of the quadricycle, owing to numerous factors like the presence of the hospitality sector, educational institutes, theme parks, airports, and golf courses. As of 2022, the US had approximately 43% of the world's golf courses, or approximately 15,500. The presence of golf courses in the country accelerated the need for golf carts during the historical years. Furthermore, other sectors, such as the hospitality sector, educational institutes, theme parks, airports, etc., in the US have registered higher usage in the past as these sectors required quadricycles for customer mobility & luggage transfer. Thus, it impact the market share during the estimated years.

Quadricycle Industry Recent Development:

2020: Goupil launched the G6, a 3-seater quadricycle, with Light and rain sensors, automatic lights & wipers activation, LCD HD color display,electric windows, and heated mirrors.
2021: Textron launched its new vehicle, the E-Z-GO Liberty, the vehicle operates with a high-performance, zero-maintenance Samsung SDI lithium-ion battery system. The vehicle offers four forward-facing seats in a compact, golf-car-sized footprint.

Current Landscape of Quadricycle Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Quadricycle market. The research report profiles major players, including

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Polaris
Goupil
Alke
Bajaj Auto
Textron
Italcar
Aixam Mega
Honda Motor Company, Ltd
Yamaha Motor Co., Ltd.
Suzuki Motor Corporation
Ligier Group
Paxster
Estrima S.P.A
Groupe Renault
Citroën Ami
Tazari EV
Triggo
Global Electric Motorcar (Gem)
Others

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