The Terminal Block Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Terminal Block Global Market Report 2024, The terminal block market size has grown strongly in recent years. It will grow from $4.19 billion in 2023 to $4.46 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to industrial automation, electronics and electrical industry growth, infrastructure development, safety and reliability, electrical distribution networks..
The terminal block market size is expected to see strong growth in the next few years. It will grow to $5.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to industry 4.0 integration, electrification initiatives, miniaturization and compact designs, rapid urbanization, electric vehicle market growth.. Major trends in the forecast period include collaborations and innovations, renewable energy integration, urban infrastructure development,compliance with safety standards..
Rising demand for smart devices is expected to drive the terminal block market going forward. A smart device refers to a context-aware electronic device that can share data with other devices wirelessly or by connecting to them by cable. Terminal blocks are used wherever electrical systems need to stay safely connected, organized, and secure. According to Mediapost, a US-based media company, approximately 22 million homes have smart devices; among them, 69% of households in the U.S. have at least one smart device, and it is expected that 15% of households worldwide would have a smart home device installed by 2023. Therefore, rising demand for smart devices drives the growth terminal block market.
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The terminal block market covered in this report is segmented –
1) By Type: Barriers Or Barrier Strips, Sectional Terminal Blocks, PCB Mount Terminal Blocks, Power Terminal Blocks, Other Types
2) By Function Type: Single-Level Feed-Through Terminal Blocks, Dual-Level Terminal Blocks, Three-Level Blocks, Ground Circuit Terminals, Fuse Terminal Blocks, Other Functions
3) By Industry: Business Equipment, HVAC Systems, Power Supplies, Industrial Controls, Process Control Instruments, Telecom Equipment, Transportation, Other Industries
Top Major Players
TE Connectivity Ltd.
Omron Corporation
Eaton Corporation PLC
Rockwell Automation Inc.
Molex LLC
Product innovations are a key trend gaining popularity in the terminal block market. Major companies operating in the terminal block market are developing advanced products to sustain their position in the market. For instance, in November 2021, TE Connectivity, a US-based manufacturer of connectors and sensors, introduced SNACompact Terminal Blocks, which offer a compact option without sacrificing performance. The SNACompact terminal block range offers mid-sized businesses an affordable option in a competitive market while enabling high levels of productivity in constrained spaces. The new product aims to improve the panel-building process for installers, who must meet the demands of miniaturization by delivering strong performance.
The terminal block market report table of contents includes:|
1. Executive Summary
2. Terminal Block Market Characteristics
3. Terminal Block Market Trends And Strategies
4. Terminal Block Market – Macro Economic Scenario
5. Global Terminal Block Market Size and Growth
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31. Global Terminal Block Market Competitive Benchmarking
32. Global Terminal Block Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Terminal Block Market
34. Terminal Block Market Future Outlook and Potential Analysis
35. Appendix
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