February 19, 2020 by Market-NewsFlash
With the worldwide growth of telecom sector and increasing user of telecom, the market for telecom tower power system has to increase as the towers have to remain operational and some power source needs to drive power to them. Market Research Future (MRFR) has published a research report that enumerates massive expansion for the global telecom tower power system market 1t 13.06% CAGR between 2018 and 2023. By value, the market can be worth the USD 4.5 bn by the end of the forecast period.
Apart from growth of telecom sector, other influential factors complimenting the global telecom tower power system market growth include massive investment from governments in developing countries for improving telecom infrastructure and increased efforts towards improving telecom services. Other factors carrying forward the market growth include many telecom companies having global presence, and growing user base of telecom services.
The global telecom tower power system market segmentation covers component, power sources, and type. MRFR is exploring the features of these segments to understand market trends.
As per component-based segmentation, this market covers batteries, controllers, generator, inverters, power distribution unit, rectifiers, and others. By 2023, the batteries segment is expected to be most profitable segment with the market worth of USD 1,100 mn.
Based on power sources, the market has been segmented into diesel, diesel-battery, diesel-solar, diesel-wind, and others. During the forecast period, diesel-battery segment has been estimated to hold the lion’s share in the global market, surging at 14.99% CAGR. The diesel-solar segment is likely to gain traction in the coming years. There is a possibility that in future, the market for diesel solar-powered telecom towers might also become strong as digital solar power is used in both on-grid, as well as, off-grid power systems. Diesel solar-powered telecom towers use a combination of diesel and solar energy. This combination supplies power to the entire tower.
By type, the market has been segmented into on-grid and off-grid. During the forecast period, the on-grid segment is expected to experience higher growth at 11.88% CAGR.
The regional segmentation of the global Telecom tower power system market covers Asia Pacific, North America, Latin America, Europe, the Middle East & Africa (MEA) and the Middle East & Africa (MEA).
During the forecast period, the Asia Pacific region is expected to be the leading regional market. Its market worth by 2023 has been estimated to be more than USD 1,800 mn. The main reason for the market growth in this region is increased penetration of cell tower in many Asia Pacific countries, especially China and India. Both of these countries have a high density of population which is the second reason for market growth as a two big country-specific markets in this region already exist. Japan is another technologically advanced country-specific market due to its developed telecom sector. Revenue from other Asia Pacific countries is also raising the market growth.
North America is the second largest regional market because the infrastructure and market in this region is already developed, complimented by strong economy and the high per capita income of people. Hence, the market growth in this region is slow but stable. By the end of forecast period, the value of the North American market is been calculated to be USD 674 mn. Most of the key market players in this region are based in USA. After USA, Canada and Mexico are two other important country-specific markets in this region. In Latin America, the technological advancement as not as high as it in North America. Therefore, this is small but stable market.
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