U.S. Telecom Tower Power System Market Is Expected To Rise At Nearly 5% CAGR By 2031 End – Says FMI
Demand in the U.S. market is expected to rise at nearly 5% CAGR over the forecast period. The U.S. has emerged as a leading player in the power system market in terms of production and consumption with numerous power sources in telecom tower power systems. The U.S. is recognized as a primary market for electronic and telecommunication industries and it is expected to continue exhibiting high demand for telecom tower power systems through the forecast period.
The expansion of telecom infrastructure facilities to cover rural and other remote areas has led to a rise in demand for telecom tower power systems, according to Future Market Insights. Manufacturing technology developments at a rapid pace are also anticipated to support market expansion in the near future.
The 2020 COVID-19 pandemic may have caused a recession, but the essential service sector of the telecommunications industry has not been impacted. 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.
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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.
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
- Wind Turbine