Telecom Tower Power System Market Size To Hit USD 8.41 Billion at a 10.28% CAGR by 2030 - Report by Market Research Future (MRFR)
Telecom Tower Power System Market Growth Booming by Rising Technology Reach and Telecom Infrastructure across the Globe
New York, US, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Telecom Tower Power System Market: By Type, By Power Source, By Component - Forecast till 2027”, The global telecom tower power system market will reach USD 8.41 billion at a 10.28% CAGR by 2030.
*Telecom Tower Power System Market Overview*
Burgeoning Need for Highly Energy-Efficient Robust Telecom Power Management System to Boost Market Growth - The growing need for highly energy-efficient strong telecom power management system that delivers a highly secure power supply while consuming a reasonable amount of power drives market growth.
*Booming Telecom Infrastructure to offer Robust Opportunities *
The booming telecom infrastructure especially in rural areas will offer lucrative opportunities for this market in the forecast period.
*Key Players *
Eminent industry players profiled in the telecom tower power system market report includes,
· ABB Ltd
· Schneider Electric Indus Towers Ltd
· Delta Electronics Inc
· Vertiv STMicroelectronics
· NV Bharti Infratel Ltd
· Eaton Corporation PLC
· Huawei Technologies Co Ltd
· Texas Instruments Inc
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*Restraints and Challenges *
*High Operating Cost to act as Market Restraint *
The high operating cost, carbon emission regulation, and fluctuating costs of diesel may act as market restraints over the forecast period.
*Telecom Tower Power System Market Segmentation *
The global telecom tower power system market has been bifurcated based on component, power source, and type.
By type, the telecom tower power system market is segmented into off-grid and on-grid.
By power source, diesel battery will lead the market over the forecast period.
By component, generator will dominate the market over the forecast period.
*Report Scope:*
*Report Metrics* *Details* Market Size by 2030 USD 8.41 Billion CAGR during 2022-2030 10.28%Key Market Opportunities As a result, there has been an increase in the need for electricity distribution systems. Key Market Drivers In recent years, there's been a considerable rise in the use of smartphones and other portable devices in both developed and emerging economies, which has expanded the demand for telecommunications generating electricity
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*COVID-19 Analysis *
The global telecom tower power system market has been harmed by lockdown restrictions. In the midst of the pandemic, limited production and transportation delays have created challenges. Production and distribution efforts have been hampered as successive waves of the novel coronavirus tighten the noose around the world. Several industries, including automobiles, electronics, and construction, have suffered as a result. Furthermore, rising demand for electric products has resulted in increased adoption of power systems for expanding telecom infrastructure around the world. Despite the difficult circumstances, economies have gradually improved in 2021. As supply and distribution networks improve, company activities have begun to recover. Given this context, the pandemic is unlikely to have long-term implications for the telecom tower power system market.
*Telecom Tower Power System Market Regional Analysis *
*APAC to Head Telecom Tower Power System Market *
Asia Pacific grabbed the largest share of the global telecom tower power system market, which was valued at USD 855.67 million. It is expected that the area will maintain its dominant position during the evaluation period. The development of telecommunications infrastructure in countries such as India and China is positively impacting the Asia Pacific telecom tower power systems market. Furthermore, the use of 3G/4G connections has increased significantly in recent years. Because of the increasing Internet penetration in the area, a greater proportion of telecom towers are required. The Asia-Pacific region currently dominates the telecom tower power systems market and is expected to grow rapidly.
The increasing number of mobile subscribers, as well as, the presence of various telecom industries in the region is driving the telecom tower power semiconductor market in the Asia-Pacific region. Rapid technological advancement in the telecommunications and IT industries is fuelling the market in this region, with countries such as China, Japan, India, and South Korea leading the way. Furthermore, the Asia-Pacific region has a large number of vendors who supply raw materials for telecom equipment as well as manufacturers who supply the final product for the system such as rectifiers, converters, generators, heat management systems, and so on. With a revenue share of over 30.0% of the overall market in 2020, Asia Pacific is expected to maintain its dominance. This growth is for the rapid digital transformation of different industries in developing countries, providing telecom operators with a promising growth opportunity to build a sustainable ecosystem.
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Furthermore, telecom service providers are concentrating on expanding telecommunication networks to meet the region's growing cellular subscriber base. For the past few years, Asia Pacific has had the highest number of smartphone users. This development has resulted in an increase in the deployment of telecom towers in rural and remote areas throughout this region.
*North America to Have Favorable Growth in Telecom Tower Power System Market *
North America is the world's second-largest telecom tower power system market revenue industry, trailing only China. In 2017, the industry in the area was worth more than USD 600 million, and it is expected to develop at a compound annual growth rate of 11.75 percent during the evaluation period. North America grabs a strong position in the global market for telecom power systems due to its robust and consistent network connectivity. This region has been an early adopter of several innovative developments and telecommunication technologies due to the higher penetration rate of mobile devices and 4G-LTE networks. Furthermore, the growing demand in the United States for 5G network commercialization is encouraging telecom companies in developing advanced telecom infrastructure and related equipment. As per 5G Americas, a wireless industry trade association that facilitates LTE network transformation, the LTE penetration rate in the United States was 130.0% in the third quarter of the year 2019. The quick adoption of digital electricity solutions and smart devices is boosting the prospects for regional market growth. Another lucrative market in the global telecom power system space is North America.
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The market is boosted by the strong presence of powering technology developers and providers offering futuristic powering solutions to the telecommunications industry. Furthermore, the Telecom Power System Market is supported by well-established development centers and a large telecom power system industry.
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