Telecom Tower Power System Market Worth Is Expected To Reach US$ 6.7 Billlion By 2031, Future Market Insights Inc.
The telecom tower power system market is expected to register year-on-year growth at 5.8% in 2021, with the overall valuation forecast to reach US$ 3.5 Bn. As per a Future Market Insights (FMI) analysis, sales of telecom tower power systems is expected to increase at 6.7% CAGR between 2021 and 2031.
According to Future Market Insights, increased demand for
telecom tower power systems has resulted from the expansion of telecom
infrastructure facilities to cover rural and other remote areas. Rapid
technological advancements in manufacturing are also expected to supplement
market growth in the near future.
Despite the COVID-19 pandemic’s recessionary effect in 2020,
the telecommunications industry has remained unaffected in terms of essential
service sector. With the ongoing demand for high energy efficient solutions,
the growth of telecom tower power systems is expected to continue on an upward
trend for the foreseeable future.
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Demand for telecom tower power systems is increasing with
the rise in the volume of telecom tower networks in recent years.
This can be attributed to an increase in investments and expansion of new
telecom infrastructure projects in developing nations.
The growing demand for mass production has increased the
importance of process automation. The market is shifting toward Industry 4.0
standards, resulting in the promotion and widespread adoption of new
manufacturing technologies.
The growing number of players focusing on telecom tower
power system research and development is expected to contribute to market
growth in the coming years.
Key Takeaways from Telecom Tower Power System Market Study
- Outdoor
telecom tower power systems are projected to hold over 54% of the global
market share in 2021, supported by the availability of superior
configurations.
- The
diesel generator + battery segment is set to hold over 41% of the market
share as a power source by 2031-end, supported by investments into
renewable energy systems.
- The
U.S. will remain a primary market, backed by rising demand from the energy
sector. It is expected to account for over 86% of the demand registered in
North America in 2021.
- The
markets in India and China are set to surge at CAGR of approximately 8%
and 7% over the coming decade.
- Russia
is emerging as a key market in Europe, with a valuation of over US$ 154.5
Mn in 2021, driven by presence of massive telecom infrastructure network.
“The telecom
tower power system market is growing at a strong pace driven largely by
increasing demand for energy efficient power systems. Increasing investments in
the telecommunication industry for the expansion of telecom infrastructure
projects will create extensive opportunities for telecom tower power system
manufacturers. Industry participants are investing in expansions, strategic
alliances, and energy efficient solutions to gain a competitive advantage,” says
a Future Market Insights analyst.
Who is Winning?
The telecom tower power system market is moderately
consolidated, with key players accounting for more than 55% of the market
share. These players are likely to invest in new technology developments and
expansion of their distribution networks in order to maintain their market
presence.
Some of the key players in this industry include but are not
limited to Delta Electronics Inc., Cummins Inc., Huawei Technologies Co.,
Ltd, Eaton Corporation PLC, Vertiv Group Corporation, STMicroelectronics NV,
ZTE Corporation, and ABB Ltd.
Telecom Tower Power System Market by Category
By Product Type:
- Outdoor
Telecom Power System
- Indoor
Telecom Power System
By Power Source:
- Diesel
Generator
- Diesel
Generator + Battery
- Renewable
Energy
- Solar
- Wind
Turbine
- Biomass
By Region:
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia & Pacific
- Middle
East and Africa (MEA)
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