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According to the latest report by IMARC Group, titled, “Motorized Quadricycle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global motorized quadricycle market size reached US$ 926.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,868.3 Million by 2028, exhibiting a growth rate (CAGR) of 11.90% during 2023-2028.
A motor-operated quad-bike, also referred to as a quadricycle or quad bike, embodies a four-wheeled conveyance energized by either an electric motor or an internal combustion engine. It’s engineered to deliver a means of travel for both amusement and practical uses. Quad bikes present numerous benefits as they facilitate remarkable off-road proficiency, enabling operators to traverse demanding landscapes effortlessly. Guaranteeing amplified safety, these quadricycles are structured to provide steadiness and command. Quad bikes incorporate several security features, such as braking systems, front and rear lights, and back-view mirrors, to affirm secure usage. They are versatile vehicles with applications in various industries, including agriculture, leisure, tourism, and off-road adventures.
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Motorized Quadricycle Market Trends and Drivers:
The growing popularity of this quad bike as a sustainable alternative to traditional internal combustion engine quadricycles, on account of its low emissions and reduced carbon footprint, is primarily driving the motorized quadricycle market. Furthermore, the escalating product demand in congested urban areas as a convenient and efficient transportation solution is positively influencing the global market. Apart from this, the widespread adoption of motorized quadricycles in agricultural and industrial applications, owing to their versatility and utility for farming, landscaping, or transportation within large facilities, is also augmenting the market growth. Moreover, the increasing availability of customization options as manufacturers give a range of models with numerous features, accessories, and design options, allowing customers to personalize quadricycles to suit their preferences and requirements, is acting as another significant growth-inducing factor. Besides this, several effective marketing and promotion strategies by dealers are creating awareness and generating interest in the product, which is expected to drive the motorized quadricycle market in the coming years.
Motorized Quadricycle Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market based on type, propulsion type, price range, and end use.
Type Insights:
Propulsion Type Insights:
Price Range Insights:
End Use Insights:
Breakup by Region:
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Key highlights of the report:
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