(MENAFN- GlobeNewsWire - Nasdaq) Increasing research activities and a focus on efficiency will likely lead to microwave power transmission demand.
Wilmington, Delaware, United States, Transparency market Research Inc. -, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The microwave power transmission industry (마이크로파 전력 전송 산업) was worth US$ 167.0 million in 2022. The market is projected to increase at a CAGR of 24.1% from 2023 to 2031, reaching US$ 939.5 million by 2031. The increasing interest in space-based solar power generation, which involves capturing solar energy in space and transmitting it to Earth via microwave beams, has driven the development of microwave power transmission systems that can effectively beam energy from space-based solar arrays to ground-based receivers.
Unlike traditional grid-based electricity supply, microwave transmission systems provide a reliable alternative that makes it possible to access power in remote areas. Remote, rural, military, and emergency response applications drive this demand for off-grid power solutions. The need for dependable and effective microwave power transmission solutions to power satellite ground stations and remote communication facilities is driven by the growth of the telecommunications infrastructure, including the rollout of 5G networks and the rising demand for satellite communication systems.
Technology in microwave power transmission continues to advance continuously, and cost-cutting initiatives continue to be taken in the field, such as developing lightweight, affordable rectenna arrays and solid-state microwave amplifiers. The market can expand by reducing installation and operating costs, enhancing system performance, and providing new applications and industry opportunities.
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Key Findings of the Market Report
Based on technology, a near-field segment is likely to increase demand for microwave power transmission in the market. The space solar power station segment was the largest application segment in 2022. A signal generator is expected to drive market demand for microwave power transmission. From 2023 to 2031, Asia Pacific is expected to hold the largest share. North America held a share of 23.0% in 2022.
Global Microwave Power Transmission Market: Competitive Landscape
Researchers and developers in the industry are heavily investing in innovation and new technologies to boost efficiency, extend transmission distances, and enhance reliability. The company is also investing in marketing and brand-building activities to expand its microwave power transmission market share.
Key Players Profiled
Infineon Technologies WiTricity Telefonaktiebolaget LM Ericsson Huawei Technologies Co. Ltd. ALE International NEC Corporation Aviat Networks, Inc. Intracom Telecom Ceragon DragonWave-X Anritsu Energous Corporation Powercast Corporation TDK Corporation Ossia Inc. Others
Key Developments
In August 2023, Aviat Networks, Inc ., an innovative wireless transport and access company, selected Aviat to upgrade and modernize Hoosier Energy's existing microwave transmission network, an Indiana-based transmission and generation cooperative. In March 2024, Huawei's SuperHub solution was awarded the GSMA GLOMO "Best Mobile Innovation for Emerging Markets" award in recognition of its ability to improve microwave spectrum efficiency. In SuperHub, microwave spectrum can be reused across several links and separated by as little as 15 degrees, resulting in better spectrum utilization and higher link speeds.
Global Microwave Power Transmission Market: Growth Drivers
A number of technological developments have led to an increase in the efficiency, range, and reliability of microwave power transmission technology, which has led to the growth of this market. Long-distance power transmission can now be achieved using microwave-based systems thanks to these advances. Renewable energy sources, such as solar and wind power, are becoming increasingly popular to efficiently transport energy from remote or offshore regions to metropolitan centers. As a result, microwave power transmission has become a necessity. Microwave power transmission technologies have become a promising source of effective and high-power wireless charging solutions due to their widespread applications in consumer electronics, electric cars, and medical devices. This will boost market growth across several industries.
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Global Microwave Power Transmission Market: Regional Landscape
Asia Pacific is expected to drive demand for the microwave power transmission market. China and India are experiencing rapid industrialization and urbanization, making efficient energy transmission systems essential. As part of government initiatives in South Korea and Japan, renewable energy is being encouraged to increase market potential. As telecommunications infrastructure in Southeast Asian countries expands, microwave power transmission systems will become more prevalent. A rising level of funding for solar power projects in China is helping to expand the market. A growing demand for off-grid power options in rural and isolated areas has led to the development of microwave power transmission technology in the Asia Pacific region. Technological innovations and cost-reduction initiatives in countries such as South Korea and Japan are driving the growth and adoption of the market. The use of microwave power transmission for reliable energy distribution has become increasingly popular because of increased concerns about energy security and resilience in natural disaster-prone countries like Japan. The governments of countries such as India subsidize and encourage clean energy technology to create an adequate market environment for microwave power transmission solutions.
Global Microwave Power Transmission Market: Segmentation
By Technology
By Component
Signal Generator Power Amplifier Transceiver Antenna Rectifier Circuit Others
By Application
Space Solar Power Station Payload Spacecraft Module High Power Weapon EV Battery Medical Device Others
By End User
Aerospace Automotive Defense Healthcare Consumer Electronics Others
By Region
North America Latin America Europe Asia Pacific Middle East & Africa
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