Generator Market Receive Fuel Flexibility boost - Bringing power to the leading players... - 0 views
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Almira Coyne on 26 Apr 24A generator is often defined as a device or system that converts mechanical energy, usually via a spinning shaft, to electrical energy. This technique is based on the electromagnetic induction principle, which states that a changing magnetic field causes an electric current to flow through a conductor. Generators are widely utilized in a variety of applications, including power plants, wind turbines, hydroelectric dams, and portable generators for backup power. They play an important role in providing electricity for both household and industrial use. According to a new market research report, the global generator market is projected to reach USD 34.5 billion by 2030 from an estimated USD 23.1 billion in 2023, at a CAGR of 5.9% during the forecast period.