Global sales of telecom tower power systems are set to be valued at over US$ 3.5 Bn in 2021, with a stable long-term projection, according to the latest insights by Future Market Insights (FMI). A new report estimates the market to expand at over 6.7% CAGR from 2021 to 2031.
According to Future Market Insights, the expansion of telecom infrastructure facilities to cover rural and other remote areas has led to stronger demand for telecom tower power systems. Rapid technological advancements in production technologies are also projected to complement market growth in the near future.
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In spite of the recessionary effect of the COVID-19 pandemic in 2020, the telecommunication industry in terms of the essential service sector has remained unaffected. With the continual demand for high energy-efficient solutions, the growth of telecom tower power systems is expected to reflect an upward trajectory for the foreseeable future.
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 requirement of mass production has resulted in the increased importance of process automation. The market is shifting towards Industry 4.0 norms, leading to the promotion and universal adoption of new production technologies.
An increasing number of players focusing on research and development related to telecom tower power systems is anticipated to contribute to market growth in the years to come.
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.
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“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.
Key Points Covered in Telecom Tower Power System Market Survey
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Telecom Tower Power System Market and How to Navigate
- Recommendation on Key Winning Strategies
Competitive Landscape
Companies operating in the telecom tower power system market are aiming for strategic collaborations and partnerships with other manufacturers to expand their product manufacturing capacity to address the growing demand of an expanding consumer pool.
For instance, in December 2020, Ballard Power Systems signed an agreement with Eltek Nordic (Delta Electronics Inc.) to develop fuel cell backup power systems for communication networks. The collaboration aims to provide reliable backup power solutions for telecom networks and other critical communication infrastructure, with a focus on Nordic countries, primarily Norway, Denmark and Iceland.
In June 2021, Ryse Energy entered the Tower Automation Alliance, which aims to coordinate hybrid renewable energy projects for telecom tower infrastructure.
Advent Technologies Holdings Inc. announced an acquisition agreement with the Fischer Group for its fuel cell systems segment for remote and off-grid power requirements.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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