Increasing traffic congestion, increasing demand for light vehicles and stringent government rules and regulations across the globe are driving the global motorized quad bike market. On the basis of region, Europe held the largest share in 2021, contributing almost half of the global motorized quad bike market share.
Portland, Ore., Feb. 01, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global motorized quad bike market collected $460.1 million in 2021 and is expected to generate $1,156.5 million by 2031, showing a CAGR of 9.9% from 2022 to 2031. The report provides extensive analysis of changing market dynamics, major segments, chains of value, competitive scenarios and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders and start-ups in developing strategies for sustainable growth and gaining a competitive edge in the market.
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Report coverage and details:
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Report coverage |
Details |
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Forecast period |
2022–2031 |
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Base year |
2021 |
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Market size in 2021 |
$460.1 million |
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Market Size in 2031 |
$1,156.5 million |
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CAGR |
9.9% |
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Number of pages in the report |
284 |
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Covered segments |
Type, drive type, end use, price range and region |
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Drivers |
Increasing traffic jams Increasing demand for passenger cars Strict government rules and regulations |
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Opportunities |
Incorporating cutting-edge technology into motorized quad bikes The rise in popularity and demand for quad bikes among the older and younger population |
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Limits |
Lack of passenger safety Low speed of motorized quad bikes |
Covid-19 scenario:
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The outbreak of the COVID-19 pandemic has harmed the growth of the global motorized quad bike market due to the existing lack of financial and technical resources, which has resulted in the hindrance of the end-use industry.
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The crisis is putting dealerships under extreme financial pressure, as most are small family operations. A prolonged decline in demand, which is expected to continue even after operations resume, is likely to affect the profitability of OEMs.
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Also, due to the economic slowdown, people’s disposable income has decreased, which affects the demand for motorized four-wheelers.
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However, the motorized quad bike market has a large scope for growth in the future due to factors such as changing lifestyles and consumer preferences and greater adoption of electric vehicles.
The study provides detailed segmentation of the global motorized quad bike market based on type, drive type, end-use, price range, and region. The report examines the segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the top revenue generating and fastest growing segments mentioned in the report.
On the basis of type, the light quadricycle segment held the highest share in 2021, accounting for more than two-thirds of the global motorized quadricycle market and is expected to continue its leadership status during the forecast period. However, the heavy ATV segment is expected to register the highest CAGR of 10.6% from 2022 to 2031.
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On the basis of drive type, the ICE vehicle segment accounts for the highest share in 2021, contributing more than 90% of the global motorized four-wheeler market and is expected to maintain its leading position in terms of revenue during the forecast period. However, the electric vehicle segment is expected to exhibit the highest CAGR of 10.5% from 2022 to 2031.
On the basis of end-use, the Others segment accounts for the highest share in 2021, holding more than two-thirds of the global motorized quad bike market and is expected to continue its leadership status during the forecast period. However, the commercial segment is expected to grow at the highest CAGR of 11.2% during the forecast period.
Based on the price range, the mid-range segment accounts for the highest share in 2021, holding more than two-thirds of the global motorized quad bike market and is expected to continue its leadership status during the forecast period. However, the tall segment is expected to grow at the highest CAGR of 10.5% during the forecast period.
On the basis of region, Europe held the largest share in 2021, contributing almost half of the global motorized quad bike market share, and is expected to retain its dominant share in terms of revenue in 2031. However, North America is expected to exhibit the fastest CAGR of 13.1% during the forecast period.
The leading market players in the global motorized quad bike market analyzed in the research include Alke, Bajaj Auto Ltd., Goupil, Italcar Industrial Srl, LIGIER GROUP, Mahindra Electric Mobility Limited, Piaggio & C. SpA, Renault Group, Squad Mobility BV and Yamaha Golf car company.
The report provides a detailed analysis of these key players in the global motorized quad bike market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements, and others to increase their market share and maintain dominant shares in various regions. The report is valuable as it highlights the business performance, operational segments, product portfolio and strategic moves of the market players to show the competitive scenario.
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About us
Allied Market Research (AMR) is the market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises, as well as medium and small businesses, with an unmatched quality of “Market research reports” and “Business Intelligence Solutions.” AMR has a single-minded view of providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relationship with various companies and this helps us to extract market data which helps us to generate accurate data tables from surveys and confirms extreme accuracy in our market forecasts. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients in every possible way to achieve success. All the data presented in the reports published by us are derived through primary interviews with senior executives from leading companies in the respective domain. Our secondary data delivery methodology involves in-depth online and offline research and discussions with experienced industry professionals and analysts.
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