The observed growth can be attributed to the global demand for energy-efficient power systems. With the introduction of 5G technology around the world in recent years, the demand for telecom tower power systems has steadily increased.
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
“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.
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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
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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.
Telecom Tower Power System Market , Telecom Tower Power System , Telecom Tower Power System Market Outlook
Jul 27, 2022