The Global Market for Terminal Blocks is Projected to Reach US$3.6 Billion by 2022
Focus on Centralized Wiring to Reduce Complexity
of Electrical Circuits & Their Interconnections Drives Demand for Terminal
Blocks, According to New Report by Global
Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market size, share, and demand forecasts on the global Terminal Blocks market. The
global market for Terminal Blocks is projected to reach US$3.6 billion by 2022,
driven by the indispensability of electrical distribution and protection solutions
in a host of electrical products, the demand for which is driven by automation
needs and developments in consumer, industrial, automotive and medical
electronics.
Terminal
blocks are insulated, modulated blocks that are used to connect two or more
wires. The terminal block contains two long copper or aluminum strips that are
engineered to connect the components. These metal strips enable creation of a
bus bar for distribution of power, which could be sent to all the components
that are connected. They are particularly significant for electronic devices which require number
of wires to be connected between components to achieve the desired output. Originally used in telecommunication and automotive industries, terminal
blocks are now a vital component in a wide range of industries. The global market for terminal blocks is primarily
driven by the increasing demand for PCB terminal blocks created by the growing
PCB market, advancements in various connection technologies relevant to
terminal blocks, and high levels of terminal block usage in the telecom sector.
Growth in PCB terminal blocks is attributed to increasing demand for
applications in computer/peripheral, consumer electronics, and communication,
in defense and aerospace products, in laptops, smartphones, and touch screen
tablets, and improvements in PCB technologies. Rising consumer electronics
demand is expected to drive the PCBs market, which in turn would fuel demand
for PCB terminal blocks. Factors such as rising industrial activities in India,
China, Indonesia, and South Korea, and government initiatives in most telecom
markets are expected to be prime drivers of market growth during the analysis
period.
Among
the types, sectional terminal blocks are leading the market, and the trend is
expected to continue in the short term. Connection technologies including screw
clamp, spring clamp, push-in terminals, and insulation displacement connection
are witnessing advancements, contributing to increased demand for terminal
blocks. Advancements in special connection technologies including TERMI-POINT
connection and slip-on
connection offer advantages for various types of connections required in
industries such as power supplies, industry controls, HVAC, instruments,
automotive and transportation, and telecom equipment. Development of new
applications in mobile/wireless equipment, increasing adoption in telecom
infrastructure, and rising spends in the defense sector, present significant
growth opportunities. Rapid development of the electronics industry and launch
of increasingly complex, advanced and compact electronic devices are
contributing to the development of advanced terminal block products. Demand is
also expected to rise for multi-purpose, multi-function, intelligent,
finger-safe terminal blocks, while micro-miniature terminal blocks are finding
favor owing to benefits such as low costs, space conservation, reduced
maintenance, and safe wiring.
As stated
by the new market research report on Terminal
Blocks, Europe represents the largest market worldwide. Asia-Pacific
and Latin America are forecast to witness strong growth in the coming years
driven by the continued focus on industrial automation in most of the emerging
countries including China, India, Brazil, and Indonesia. Asia-Pacific is poised
to grow at the highest CAGR over the analysis period, supported by rapid industrialization
and urbanization in developing Asian countries; ongoing trend towards miniaturization
and the ensuing demand for micro and miniaturized terminal blocks; and focus on
reducing the cost and complexity of board level electrical wiring and
interconnections and the resulting demand for “pluggable” terminal blocks.
Major
players covered in the report include ABB Ltd., Amphenol FCi, Amphenol PCD,
Amtek Technology Co., Ltd., Automation Systems Interconnect, Inc., Curtis
Industries, Eaton Corp., Marathon Special Products, METZ CONNECT GmbH, Molex
Inc., OMEGA Engineering, Inc., Phoenix Contact GmbH & Co. KG, Phoenix
Contact USA, Rockwell Automation, Inc., Shenzhen OULU Electronic Co., Ltd.,
Switchlab, Inc., TE Connectivity Corp., WAGO Kontakttechnik GmbH & Co. KG,
WECO Electrical Connectors, Inc., Weidmüller Interface GmbH & Co. KG, and
Wieland Electric, Inc., among others.
The
research report titled "Terminal
Blocks: A Global Strategic Business Report" announced by Global
Industry Analysts, Inc., provides a comprehensive
review of market trends, issues, drivers, and strategic industry activities of
global companies. The report provides market estimates and projections for
geographic markets such as the US, Canada, Japan, Europe (France, Germany,
Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, South
Korea, Taiwan, Rest of Asia-Pacific), Latin America and Rest of World. The
report also analyzes the Terminal Block market by Type - PCB-Mounted, Power
Blocks, Sectional, and Other Terminal Blocks.
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