Global Telecom Tower Power System Market Size to Progress at a CAGR of 6.7% through 2034 Amid Increasing Demand for Uninterrupted Connectivity | Future Market Insights, Inc.

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Jul 30, 2024, 06:42 ET

The surge in 5G technology adoption globally has exponentially increased the demand for telecom tower power systems. This demand is further driven by a growing preference for renewable energy sources, such as solar, enhancing network coverage density and sustainability.

Renewable energy is among the leading power sources, influencing demand for telecom tower power systems. China has emerged as a highly lucrative market for the production and export of telecom tower power systems. This can be attributed to the increasing demand for electronic products, coupled with the adoption of advanced technologies and higher production capacities.

NEWARK, Del., July 30, 2024 /PRNewswire/ -- According to a Future Market Insights (FMI), the worldwide telecom tower power system market size is expected to reach a value of USD 7,987.8 Million by 2034. The market is set to reach USD 4,518.9 Million in 2024, creating several growth opportunities for leading players globally. The progress of the industry is anticipated to adhere to a considerable CAGR of 6.7% through the forecast period.

The emergence of cutting-edge technology across the world has leveraged the inclusion of modern features in telecom services. Such advancements are likely to augment the demand for telecom tower power systems.

With the growing consumer inclination toward renewable and green energy, the demand for telecom tower power systems is expected to increase. Such systems have better potential to curb carbon footprints. Due to lower operational costs, such systems are preferred more, driving growth of the market.

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The increasing demand for connectivity due to the rising urbanization rate is an indicator of the proliferating scope for large telecom towers. This demand might upsurge telecom tower power systems sales, fueling the growth of the competitive landscape.

Emerging countries are offering better infrastructural developments, thereby helping the market find new prospects in such countries. This factor upholds sales of these systems in emerging countries, including China and India.

Key Factors Shaping the Demand Outlook of the Telecom Tower Power System Industry:

Increasing need for reliable power supply to augment the telecom tower power system market
Growing advances in technology are expected to create new growth prospects for telecom tower power system manufacturers.
Rise in demand for renewable energy sources has propelled the telecom tower power system demand.
The rapid technological advances in telecommunication boost the sales of the market.

Key Takeaways from the Market Study:

The sluggish progress of the global telecom tower power system market during the historical period is projected to be elevated during the next decade. Comparing the growth rates of the two periods, the ecosystem projects CAGRs of 2.6% and 6.7%, respectively, which are significantly contrasting.
The outdoor telecom power system category of the product type segment is expected to govern the progress of the industry. The occupancy of the segment is 53.4% through 2024, creating prospects for leading players to operate in the segment.
The United States offers a wider landscape to leading firms in the market, and the country is expected to lead the global industry in terms of the size of the sector. The potential development of the market in the country is set to adhere to a CAGR of 5.7% through the forecast period.
The projected development of the competitive space is likely to occur at the highest rate in India, thereby creating several lucrative opportunities for key players in the country. The market is set to advance at a CAGR of 8.2% through 2034.

"Complexity and intricacy of the regulatory framework for telecom operators prove to be a key barrier to the growth of the worldwide telecom tower power system market," – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Which Drivers Underpin Telecom Tower Power System Industry Expansion?

Increasing Adoption of Telecom Services to Drive the Growth of The Market

The increasing demand for connectivity and increasing adoption of telecom services lead to the expansion of telecom networks. This expansion includes the deployment of more telecom towers in various locations, including urban areas, rural areas, and remote regions. Each new tower requires a reliable power supply to ensure uninterrupted network connectivity, driving the demand for telecom tower power systems.

This growing adoption of telecom services drives the need for power systems that can provide a continuous and reliable power supply to support the growing network infrastructure.

Telecom services are essential for communication, business operations, and everyday life. Network downtime due to power outages can result in significant disruptions and financial losses. Telecom operators invest in reliable power systems for their towers to ensure uninterrupted service.

Increasing Demand for Sustainable Power Solutions

The increasing focus on sustainability and environmental responsibility in the telecom industry drives the adoption of green and sustainable power solutions for telecom towers.

Telecom tower power systems that integrate renewable energy sources, such as solar and wind power, help reduce carbon emissions and dependence on fossil fuels.

The growing adoption of telecom services encourages telecom operators to invest in sustainable power solutions, contributing to the growth of the telecom tower power system market.

Competition Outlook:

Owing to a better understanding of local markets, small-scale firms that operate in the Tier 2 category are set to govern local consumer trends. The expansion of such firms, however, is dependent on the market occupancy of large-scale players.

To gain a better position in the market, such firms are set to expand their presence using strategies like alliances, product innovation, differentiation, and many more. Large-scale players in the industry expand with the help of several key strategies, including collaborations, acquisitions, mergers, and partnerships. The collective ecosystem of new entrants and key players governs the growth of the global telecom tower power system market.

The following recent developments have been shaping the size of the industry-

In February 2024, GE Energy launched a new AI-based software, which aims to enhance industrial sustainability and operations goals. The new product launch has helped the company bolster the position of the business in the international market.
In July 2024, Huawei Technologies Co., Ltd introduced the Apollo Version. The product is based on Release 18, which is the first commercial 5.5G version. The product launch has consolidated the position of the business.

Key Players Operating in Telecom Tower Power System Industry:

Huawei Technologies Co., Ltd
GE Energy
Schneider Electric
Cummins Inc.
ABB Ltd
Eaton Corporation Plc
ZTE Corporation
STMicroelectronics NV
Delta Electronics Inc.
American Tower Corporation
Crown Castle International Corp.
Vertiv
SBA Communications Corporation
Ascot Group
Dynamic Power Group
Mayer Power Products
Voltserver
Station
Alpha Technologies
UNIPOWER

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Telecom Tower Power System Market Segmentation Analysis:

By Product Type:

Outdoor Telecom Power Systems
Indoor Telecom Power Systems

By Power Source:

Diesel Generator
Diesel Generator + Battery
Renewable Energy
- Solar
- Wind Turbine
- Biomass

By Capacity:

Up to 10 KVA
10 to 100 KVA
Above 100 KVA

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia
Middle East and Africa

About Future Market Insights – Industrial Automation:

The industrial automation division of Future Market Insights offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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