How big is the Quadricycle and Tricycle Market?

The Quadricycle and Tricycle Market size is expected to reach USD 8.20 billion in 2024 and grow at a CAGR of 10.84% to reach USD 13.72 billion by 2029. Read More

What is the current Quadricycle and Tricycle Market size?

In 2024, the Quadricycle and Tricycle Market size is expected to reach USD 8.20 billion. Read More

Who are the key players in Quadricycle and Tricycle Market?

Groupe Renault , Ligier Group , Aixam-Mega , Bajaj Auto Ltd. and Mahindra and Mahindra are the major companies operating in the Quadricycle and Tricycle Market. Read More

Which is the fastest growing region in Quadricycle and Tricycle Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Quadricycle and Tricycle Market?

In 2024, the Asia-Pacific accounts for the largest market share in Quadricycle and Tricycle Market. Read More

What years does this Quadricycle and Tricycle Market cover, and what was the market size in 2023?

In 2023, the Quadricycle and Tricycle Market size was estimated at USD 7.40 billion. The report covers the Quadricycle and Tricycle Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Quadricycle and Tricycle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Quadricycle and Tricycle Market - Size, Share & Industry Analysis

Quadricycle and Tricycle Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Quadricycle and Tricycle Market is Segmented by Power Source Type (Electric, Gasoline, and Solar), Application (Personal and Commercial), Vehicle Type (Quadricycle and Tricycle), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The market size and forecasts for all the above segments are provided in value (USD million).

Quadricycle and Tricycle Industry Overview

The quadricycle and tricycle market is moderately consolidated owing to the significant share occupied by global players and the active presence of regional players. Aixam-Mega, Casalini SRL, and Renault are some of the global players in the market. The market is witnessing positive developments as various governments accept the need for these small electric vehicles to support electrification. Manufacturers are launching new models to stay abreast of their competition.

In December 2021, Mahindra Electric announced plans to introduce at least four new vehicles over the next three years, including one in a new quadricycle category. The company is focusing on developing electric three-wheelers for passengers and freight with increased range and payload capacity, as well as an electric quadricycle.

In October 2021, Citroen launched its Ami Cargo electric quadricycle in Europe. The Citroen Ami is the commercial version of the mini Ami electric LCV weighing less than 425 kg. It is powered by a 5.5-kWh lithium-ion pack, which supplies energy to an electric motor of 8 BHP.