While emerging markets have only begun joining the transportation and personal mobility wave recently, developed countries rode it long ago and they now have a pressing need to tackle the menace of vehicular saturation. Nowhere is this more relevant than in the European continent. Favorable legal and political conditions have made quadricycles extremely attractive to the local population there and it has compelled us at Persistence Market Research to analyze the Europe motorized quadricycles market. In our report titled ‘Motorized Quadricycle Market: Europe Industry Analysis 2012–2016 and Forecast 2017–2027’, we have studied the Europe motorized quadricycle market for the period from 2012 to 2027. While the first four years were a historical analysis, the next decade is a forecast that gives you a good idea of the future trends you can expect in the Europe motorized quadricycle market.
Tried and tested research methodology catering to our clients’ every need
Persistence Market Research has devised a research methodology that is one of a kind in the industry and has been effectively utilized to prepare the Europe motorized quadricycle market report. We have a team of highly experienced analysts in diverse fields who begin their study by conducting primary and secondary research and formulate a detailed discussion guide and a questionnaire that is useful in extracting data from key industry players and experts. The data is then thoroughly validated using advanced, in-house company tools to gather all the necessary qualitative and quantitative insights into the Europe motorized quadricycle market.
A systematic and cohesive report structure
The Europe motorized quadricycle market report begins with the executive summary that is an apt first look at the Europe motorized quadricycle market. The summary comprises an overview and analysis of the Europe motorized quadricycle market. We have interviewed key players active in the Europe motorized quadricycle market and have included their words of wisdom. Our analysts have studied the Europe motorized quadricycle market in-depth and made their recommendations that take the form of an overall market approach, country to focus on and ideal segment to target with a unique strategy to stand head and shoulders above all others in the Europe motorized quadricycle market. The Wheel of Fortune completes the summary and is an easy-to-understand, graphical representation of the Europe motorized quadricycle market in terms of the taxonomy and the growth quadrants.
A section that is closely related to the summary and should ideally be read in tandem is the introduction that consists of the definition as well as the taxonomy of the Europe motorized quadricycle market. For our readers who wish to gain a grassroots understanding of the Europe motorized quadricycle market, both these chapters are highly recommended and should answer any question related to the market.
Europe Motorized Quadricycle Market: Taxonomy
An especially important part of the Europe motorized quadricycle market report focuses on the market view point. This is where we talk about the macroeconomic factors such as the population structure and GDP growth outlook as these can have an oversized impact on the Europe motorized quadricycle market. An opportunity and PESTLE analysis follow to alert our readers of all the social, legal, political, and environmental changes that they can expect in the Europe motorized quadricycle market for the rest of the forecast period.
The Europe motorized quadricycle market has been studied on the basis of key strategic countries viz. Germany, France, Spain, Italy, U.K, Russia, and the Rest of Europe. Every country has been given enough importance in a dedicated chapter so key stakeholders who seek to target only one nation can refer to that specific chapter. Here, we mention the key regulations that pertain to that country and pinpoint the country-specific drivers, restraints, opportunities, and trends. We contrast the country’s historical market size with the forecasted growth so investment decisions can be made with certainty. The market attractiveness analysis concludes this section.
Competition is almost always intense in a developed market and this also holds true for the Europe motorized quadricycle market. In our competitive dashboard section, we profile some of the leading players active in the Europe motorized quadricycle market. You can find a brief company overview, financial ratios, long-term strategies, and recent developments of the respective company in the Europe motorized quadricycle market.
Legal scenario highly beneficial to Europe motorized quadricycle market
The legal system in Europe is highly favorable for the motorized quadricycle market and it should positively impact revenue growth. Quadricycles are perfectly designed for transportation in dense, urban environments and are street legal. Quadricycles have the same registration procedure as passenger vehicles and they come under the jurisdiction of the European Commission Directive 2002/24/EC. On account of being classified as a light vehicle under the L vehicle category, the ‘AM’ category license is needed for light quadricycles. Quadricycles are also exempt from crash tests that are mandatory for passenger cars.
Traffic congestion places France at the top in the Europe motorized quadricycle market
The major French cities suffer from intense smog and heavy traffic congestion because of market saturation in the automobile industry. Chock-a-block traffic has led to increased commute times to and from work, making it a major concern of the population. The French government has taken cognizance of the situation and has devised various solutions to tackle this menace such as imposing strict speed limits, restricting passenger capacity, and heavily fining those who flout traffic rules. One of the most effective solutions to the traffic menace could be the adoption of two, three, and compact four-wheelers. That is why the scope of the France motorized quadricycle market is very bright indeed.
Government plays a major role in the France motorized quadricycle market
The French government deserves credit for focusing on electrical mobility by granting subsidies to reduce the cost of electric vehicles, spurring sales and making them economically feasible. Government initiatives have had an outsized influence in making France the largest country in the Europe motorized quadricycle market. In 2015, the Ministry of Sustainable Development declared a substantial investment for producing electric vehicles to achieve its target of 2 million electric vehicles by 2020.
Favorable legislation assists French motorized quadricycle market players
France dominates the Europe motorized quadricycle market and most of the leading market players are based in the country. The encouraging regulatory scenario goes a long way in promoting the adoption of quadricycles. In France, it is legal to drive quadricycles on all public roads except autoroutes i.e. the motorways and highways that are fairly limited. In addition, driving a quadricycle needs only an AM category or motorcycle driving license. Therefore, any person above the age of 16 is eligible to drive a quadricycle, making almost the entire French adult population a potential target of the France motorized quadricycle market.
Light quadricycles dominate the France motorized quadricycle market
The light quadricycle segment in the France motorized quadricycle market is anticipated to gain 10 basis points over the study period and record a notable CAGR of 4.9% from 2017 to 2027. Light quadricycles should continue to account for almost 90% of the France motorized quadricycle market throughout the assessment period. The incremental opportunity in this segment is around US$ 60 Mn and it should be worth more than US$ 160 Mn by 2027 end from just under US$ 97 Mn in 2016.
Sub-A segment cars chief restraint in the Europe motorized quadricycle market
The Sub-A segment is a new vehicle segment that has rushed in to fill the market niche that exists between compact passenger cars on one side and quadricycles on the other. They closely resemble A-segment cars and have the added advantage of being cost-effective. Many European carmakers have Sub-A segment models doing well in the market and they are expected to introduce newer models to cater to the rising demand in this segment. The Sub-A segment is predicted to record a higher growth than quadricycles and as the former have an electric option as well, they could potentially impede the growth of the Europe motorized quadricycle market.
Transition to stricter emission norms to affect the cost of manufacturing
Quadricycle makers are already fighting a long, hard battle against rising input prices as the latter affects sales. Customers may not see the benefit of quadricycles if they can purchase a compact car for only slightly more. Apart from this, European countries have begun the transition to stricter emission norms and this poses a challenge for the Europe motorized quadricycle market. Tackling this will necessitate additional investments i.e. increased costs. Due to air pollution and smog concerns, the French government has pledged to tighten emission norms and L6 and L7 vehicles have to make the transition to Euro 5 emission norms by 2020.