In 2023, the telecom tower power system market is projected to grow at an average annual rate of 6.9%, with total revenues of over US$ 6.4 billion. Sales of telecom tower power systems are anticipated to increase between 2023 and 2033 at a compound annual growth rate (CAGR) of 6.9%, according to a report by Future Market Insights (FMI).
According to Future Market Insights, the demand for telecom tower power systems has increased as a result of the expansion of telecom infrastructure facilities into rural and other remote locations. Rapid advancements in manufacturing technologies are also projected to promote market expansion in the near future.
Despite the COVID-19 pandemic’s recessionary effect in 2020, the telecommunications industry has remained unaffected in terms of the 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 Million in 2021, driven by the presence of a 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.
Key Companies Profiled:
- ABB
- Siemens
- General Electric
- Toshiba Corporation
- Schneider Electric
- Crompton Greaves
- Hyosung Power & Industrial Systems Performance Group
- Hyundai Heavy Industries Co. Ltd.
- Mitsubishi Electric Corporation
- Bharat Heavy Electricals Limited
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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)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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