Terminal Block Market Global Research Report 2017 of 130 pages explores Global Terminal Block Market reaching $ 3.21 billion by 2022. Report provides Terminal Block Market Size, Share, Statistics, and Opportunities Forecast to 2022. The global Terminal Block market is estimated to grow at a CAGR of 5.5% between 2017 and 2022. The Terminal Block market is highly competitive with the presence of several small and big players.
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Some of the players in the Terminal Block market include PHOENIX CONTACT GmbH & Co. KG (Germany), Weidmüuller Interface GmbH & Co.
KG (Germany), WAGO Kontakttechnik GmbH & Co. KG (Germany), Wieland Electric GmbH (Germany), ABB Group (Switzerland), Rockwell Automation, Inc.
(U.S.), WECO Electrical Connectors Inc. (Canada), Eaton Corp. Plc (Ireland), Molex, LLC (U.S.), METZ CONNECT (Germany).
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 – 35%, Tier 2 – 46%, and Tier 3 – 19%
- By Designation: C-Level – 45%, Maneger Level – 35%, Others – 20%
- By Region: North America – 41%, Europe – 36%, APAC – 17%, RoW – 6%
“The increasing demand for multipurpose, multifunctional, intelligent, finger-safe terminal blocks is likely to drive the terminal block market”
The terminal block market is driven by factors such as increasing demand for multipurpose, multifunctional, intelligent, finger-safe terminal blocks; growing PCB market; and increasing demand for PCB terminal blocks; advancements in various connection technologies for terminal blocks; and increasing adoption of terminal blocks in the telecom sector.
“Industry controls, instruments, and HVAC to gain maximum traction during the forecast period”
The industry controls and HVAC are estimated to contribute the largest market share during the forecast period. Advancements in termination technologies of terminal blocks, intended for use in more rugged applications such as instrumentation, industry controls, and data acquisition spur the growth of terminal blocks.
Rapid urbanization, rising disposable income, strict energy regulations, financial incentives through tax credit programs for energy-efficient HVAC systems, and technological innovations are some of the driving factors of growing HVAC industry which eventually drives the demand for terminal blocks in the HVAC industry.
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“The terminal block market in the APAC region expected to grow at a significant rate during forecast period”
APAC is one of the prominent regions in the terminal block market, and it is expected to grow a significant rate compared to other regions. Increasing markets for telecom equipment, industry controls, HVAC industry, power supplies, and instruments provide ample opportunities for the terminal block market.
Increased industrial activities in the APAC region and increasing demand for advanced process control plants drive the growth for sophisticated instrumentation spurring the growth for the terminal blocks market.
Research Coverage: This report segments the terminal block market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across the different types of terminal blocks, industries, and regions. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, opportunities, and challenges.
This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms, garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.