Strong Growth Predicted in Telecom Tower Power System Market,...

Strong Growth Predicted in Telecom Tower Power System Market, Expected to Hit USD 7.98 Billion by 2034

Posted 2024-08-14 09:46:44

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The global telecom tower power system market is projected to reach a value of USD 3.1 billion in 2022. Over the forecast period, demand for battery electrolytes is expected to remain strong, driven by growing investments in the electronics and telecommunications sectors. By 2034, the market is anticipated to reach USD 7,987.8 million, reflecting a compound annual growth rate (CAGR) of 6.7% from 2024 to 2034. The market is expected to generate USD 4,518.9 million in 2024.

Telecom tower power systems encompass the infrastructure and technologies required to maintain an uninterrupted power supply to telecommunication towers. These systems are crucial for ensuring the continuous operation of telecom networks, especially in regions where grid power is unreliable or non-existent.

The demand for telecom tower power systems is rising in tandem with the growth of telecom tower networks in recent years. This trend is largely driven by increased investments and the expansion of new telecom infrastructure projects in developing countries.

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 USD 154.5 Million in 2021, driven by presence of massive telecom infrastructure network.

In-Depth Market Analysis: A Complete Report

Competition Outlook

The global telecom tower power system market is highly competitive with the presence of several leading players. These companies are striving to engage in partnerships and collaborations with local telecom providers to enhance their presence in emerging countries. They are also focusing on gaining funds from government bodies to improve or replace existing telecom towers. Such initiatives would not only help them provide smooth connections to consumers but also enhance power system capabilities.

A handful of companies are investing huge sums in research and development activities to come up with novel power systems with eco-friendly features. They are focusing on complying with strict government norms mandating the use of environmentally friendly raw materials to reduce emissions.

Industry Updates

In June 2024, France-based Schneider Electric, a key digital transformation firm, signed a memorandum of understanding (MoU) with Petra Engineering Industries. The latter is a reputed HVAC equipment manufacturer. This MoU is anticipated to accelerate digital transformation in Jordan.
In July 2023, the OceanStor Dorado All-flash Storage launched by China-based Huawei Technologies bagged significant industry recognition. It became the world’s first data storage product to be awarded the DEKRA Certificate for ISO14067 carbon footprint compliance.
In March 2023, United States-based General Electric announced its plan to assign over USD 450 million to improve its current manufacturing facilities in the United States.
In March 2023, Switzerland-based ABB entered into a strategic partnership with Direct Energy Partners (DEP). DEP is a digital technology start-up focused on boosting the adoption of direct current (DC) microgrids.

Key Companies Profiled: