Traffic Congestion, Rising Investments, and Electrification: Transformation of Automotive Sector by Top Motorized Quadricycle Companies

The motorized quadricycles are also known as motorized four-wheeled vehicles, which are fuel-efficient light vehicles. The quadricycles are used in urban zones for transportation in regions of the country that have blockages. These motorized vehicles are lighter than the conventional four-overwhelming activity. It is also expected that these vehicles will replace the traditional taxis and will provide an alternative to two-wheeled vehicles as they are exposed to extreme weather conditions. The demand for these vehicles is rising worldwide because of the struggles faced by metropolitan transport systems to cope with the high traffic congestion. Renting these quadricycles is an important aspect that reflects new beginnings for Motorized Quadricycle companies actively operating in the industry. The concept of renting motorized quadricycles in the automobile sector has been raising the interest of customers because of the zero-emission promises of these vehicles.

The market witnessed a drop because of the COVID-19 pandemic. The supply chain disruptions also decreased the production volumes and also raised the decreasing consumer demand for new vehicles, further hampering the distribution networks of automotive manufacturers worldwide. Automotive suppliers in many countries, such as China and others, were forced to halt their production lines, which resulted in low sales during the pandemic.

According to Fortune Business Insights , the global market for motorized quadricyclecould be worth USD 8.22 billion by 2030, recording a CAGR of 4.7% over 2023-2030. The market also stood at USD 968.6 billion in 2022 and USD 1,047.3 million in 2023.

Fortune Business Insights Presents The Top 5 Motorized Quadricycles Companies Worldwide

Polaris, Inc. 

Polaris Inc. is one of the leading producers of ATVs, boats, motorcycles, defense vehicles, and quadricycles. The company offers a range of diverse product portfolios, having best-in-class brands for its customers. The company is driven by innovation, continuously offering a large range of products and services and is a major influencer on power sport. The company have expanded its boundaries in markets such as commercial, military, and electric vehicles over the years. Polaris is expected to be the leading company in the motorized quadricycle market through its Goupil, Aixam, and Taylor Dunn brands.

January 2022 Polaris Inc. has sold its low-speed vehicle-producing company Taylor-Dunn and GEM businesses to Waev Inc., a motor vehicle producer.

Ligier Group 

Ligier Group is a French producer and has expertise in providing motorized vehicles for more than 40 years. It is a niche company with an innovative and agile approach. In 2008, the company and Microcar partnered under the aegis of a single structure, which led to a strong market leader known as the Ligier Group. The products of the company are 100% made in France, which include light and heavy quadricycles, autonomous vehicles, and electric utility vehicles.

November 2020 Ligier launched a new JS50 Sport Ultimate, which has been the benchmark light quadricycle for young customers. The new motorized quadricycle comes with cutting-edge multimedia equipment and aesthetic design.

Groupe Renault

Founded in 1899, Groupe Renault is a multinational automobile producer in France. The automobile segment of the company is responsible for the design, distribution, and production of many vehicle ranges, including passenger cars, motorized quadricycles, electric vehicles, and light commercial vehicles. Groupe Renault is selling its new vehicles in many ranges, such as PC, LCV, and EV, under the brands: Dacia, Renault, Alpine, LADA, and Renault Samsung Motors. The company has a total of 150 entities in approximately 38 nations across the globe and has 13,439 patents in its product portfolio.

May 2022 Renault launched Duo, which is the successor of Twizy. Duo's sales started in 2023 to expand its mobility businesses across Europe and several other markets. Duo is a battery-electric quadricycle, which has two versions:

• Duo 45 version, which is capable of a 45 km/h to top speed.
• Duo 80 version, which has the capability of reaching 80 km/h and also requires a European license.

Textron Inc. 

Textron Inc. is a multi-industry company that has expertise in defense, aircraft, industrial, and financial businesses making it one of the top motorized quadricycle companies/manufacturers to deliver customers with products and services across the globe. The company is operating via five different segments: Bell, Textron Systems, Finance, Textron Aviation, and Industrial. Textron produces different types of specialized commercial vehicles and fuel system products. These specialized quadricyles business involves the design, production, and sale of golf cars, military support vehicles, recreational vehicles, snowmobiles, and off-road utility vehicles.  The company offers a diverse range of product portfolios with many global brands, including E-Z-GO, Cessna, Beechcraft, Bell, and Artic Cat. The industrial segment of the company is responsible for manufacturing different fuel system products and specialized commercial vehicles.

February 2022 Textron Inc. and Ventana LLC, leading golf cart and machinery dealers in the Middle East, partnered with Textron Specialized Vehicles. The company will be distributing Jacobsen, E-Z-GO, and Cushman vehicles in the Middle East. The collaboration will help the company to expand its business operations in the region.

Bajaj Auto Ltd. 

Bajaj Auto Ltd. is one of the leading automobile producers in India. The company has been engaged in manufacturing and selling two-wheelers and three-wheelers for over 90 years in India. Bajaj Auto Ltd. is also actively operating in regions including Africa, Latin America, the Middle East, and South East Asia. The vehicle production capacity of the company is around 3.96 million units and comprises 360,000 three-wheelers and 3.6 million two-wheelers.

August 2022 Bajaj Auto Ltd. has launched BSVI version of its motorized quadricycle model Qute. Qute is in the development phase, and it will hit the market in 2023. Bajaj Auto Ltd. is also planning to launch electric models of Qute.

Future of the Motorized Quadricycles in the Forthcoming Years

The rising product penetration influences the motorized quadricycle industry through the launch of cost-effective solutions along with the advantages of electrified quadricycles in the future. Top motorized quadricycle companies/manufacturers are largely investing in such products, further expanding the adoption of these vehicles globally.