The global telecom generator market size is projected to reach USD 1.78 billion by 2027, exhibiting a CAGR of 7.10% during the forecast period. Increasing adoption of renewables worldwide will play an important part in fueling the growth of this market, observes Fortune Business Insights™ in its report, titled “Telecom Generator Market Size, Share and COVID-19 Impact Analysis By Fuel Type (Diesel, Gas, and Others), Power Rating (Below 75 kVA, 75-375 kVA, 375-750 kVA, and Above 750 kVA), Application (Continuous, Peak Load, and Standby) and Regional Forecast, 2020-2027”. As per the latest data released by the International Renewable Energy Agency (IRENA), in 2018, electricity generation from renewables increased by 6.1% from 2017, reaching 6,586 TWh. The data reveal that solar power generation rose by 28% and wind power by 11% in 2018 from 2017 levels, with the total public investment in renewables standing at USD 21 billion. The demand for telecom generators is expected to grow at a substantial pace amid the rising investments and steady transition of countries towards renewables as these solar and wind are intermittent power sources. For example, while solar energy is abundantly available in tropical countries, it is virtually absent in colder countries. Since telecom towers require reliable power to function efficiently, generators provide the optimal solution, at least until renewable energy storage technologies gain traction.
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According to the report, the global market value stood at USD 1.20 billion in 2019. The other highlights of the report include:
- Unrivalled insights into the forces driving and restraining the market;
- Granular analysis of the different market segments;
- Holistic understanding of the regional developments influencing the market; and
- In-depth study of the leading market players and their preferred strategies.
