According to the report by Fortune Business Insight, the market for electric bicycles will grow annually by about 12.6% equivalent to U $91.19 billion by the year 2029. In 2021, the estimated value was U $35.69 billion . Studies point out that factors such as political and economic support in trade facilitated the significant increase in the practice.
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The implementation of new highways, new tax incentives, improvements in cycle paths in urban areas and the population’s environmental awareness to reduce the impact of gases harmful to the environment, also reinforced the growth of the electric bicycle market.
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Currently, because they are cheaper methods and because they have longer batteries, in the United States, two bills have been presented to Congress so that there is a safer infrastructure for the use of bicycles and for electric bicycles to be more accessible to the population. Projects to implement the use of the device have already been implemented in Europe and North America.
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