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Telecom Tower Power System Market is expected to reach US$6.7 Bn by 2031 : FMI
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The telecom tower power system market is projected to reach $6.7 Bn by 2031, driven by 5G technology and green energy initiatives.
[275 Pages Report] 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 the study, the overall telecom tower power system market worth is expected to reach US$6.7 Bn by 2031. While outdoor telecom tower power systems are expected to remain dominant, indoor telecom tower power system will witness a surge in demand, exhibiting growth at 7.1% CAGR in 2021.
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2016-2020 Telecom Tower Power System Market Outlook Compared to 2021-2031 Forecast
Revenue generated by the diesel generator + battery segment of the telecom tower power system market rose strongly in 2021. Demand grew by 5.6% between 2020 and 2021, enabling growth in the telecom tower power system market.
Growth registered can be attributed to the demand for energy efficient power systems across the globe. The demand for telecom tower power systems has increased consistently with the advent of 5G technology across the globe in recent years.
Key factors fueling telecom tower power systems demand include initiatives undertaken in introducing green telecom power systems. Leading power system manufacturing companies are focusing on expanding their production and distribution capacities in various countries. To improve their industrial research activities, some companies are collaborating directly with regional manufacturers.
The 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 increasing demand for electronic products, coupled with the adoption of advanced technologies and higher production capacities.
Will the COVID-19 Crisis Hamper the Telecom Tower Power System Market?
Lockdown restrictions have negatively impacted the global telecom tower power system market. Limited production and transportation delays have created obstacles amid the pandemic. With the consecutive waves of the novel coronavirus tightening noose across the world, production and distribution efforts have been impacted.
Several industries such as automobile, electronics, and construction have been adversely impacted. Increasing demand for electric products has resulted in higher adoption rates for power systems for expanding telecom infrastructure across the globe.
Despite the difficult situation, economies are steadily recovering in 2021. Company activities have begun to recover as supply and distribution networks improve. Against this backdrop, the pandemic is unlikely to have a long-term effect on the telecom tower power system market.
Category-wise Insights
Why is the Demand for Outdoor Telecom Power Systems Getting Stronger?
Based on telecom tower power system products, outdoor telecom power systems hold the lead, accounting for nearly 54% of the market in 2021. Outdoor telecom tower power systems are available in different configurations, and they are designed to protect equipment from external threats in varied climatic conditions with energy efficient solutions and high-performance, creating attractive growth prospects.
Outdoor telecom tower power systems are expected to remain the top choice, owing to requirements of performance efficiency and cost-effective solutions to reduce the risk of power fluctuations and failures.
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Which Power Source Accounts for Higher Sales of Telecom Tower Power Systems?
Diesel generator + battery power sources are estimated to hold the largest revenue share of more than 41% in 2021 owing to rising investments in telecom infrastructure projects in rural areas, which is crucial in connecting rural areas with other parts of the world with effective telecommunication networks.
Rise in high-performance, energy efficient power systems will propel the demand for diesel generator + battery systems, and is expected to support the interest for telecom tower power systems during the forecast years, to meet uninterrupted power supply requirements.
Telecom Tower Power System Market by Category
By Product Type:
By Power Source:
By Region:
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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.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Report: https://www.futuremarketinsights.com/reports/Telecom-Tower-Power-Systems-Market
Press Release Source: https://www.futuremarketinsights.com/press-release/Telecom-Tower-Power-Systems-Market
The article discusses the growth and future prospects of the telecom tower power system market, expected to reach $6.7 Bn by 2031.
5G technology is increasing demand for telecom tower power systems, driving market growth.
Diesel generator + battery power sources hold the largest revenue share in the market.
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