A terminal block, consisting of an insulating frame and a clamping system, is an insulated connection that fastens two or more wires together. In a screw category terminal block, wires are clamped down to a metal part (mostly metal) by the screw. This gives the benefit of connecting more than one circuit to other circuits. TheTerminal Blocks Market Forecast to 2028 – COVID-19 Impact and Global Analysise are various types of terminal blocks, including barrier strips, modular terminal blocks, PCB terminal blocks, and power distribution blocks.
TE Connectivity, Phoenix Contact, Weidmuller, ABB Ltd, Wago, and Weco – Prominent Market Participants in Terminal Blocks Market
The global terminal blocks market based on geography the North American region accounted for the highest share in the global terminal blocks market in 2020 and is also expected to grow at the largest CAGR over the forecast period. This growth is attributed Being a technologically advanced region, the manufacturing sector in North America prefers deploying advanced and automated solutions in plant operations. Countries such as the US and Canada have a huge manufacturing footprint of fortune 500 companies, with a high rate of adoption of automation technologies, such as IoT and AI. Thus, a rise in the adoption of robotics in the flourishing industrial sector is contributing to the growth of the terminal blocks market in North America. Moreover, the region has experienced a rapid rise in industrialization across countries such as the US and Canada. These factors are further boosting the growth of the terminal blocks market across North America.
TE Connectivity, Phoenix Contact, Weidmuller, ABB Ltd, Wago, and Weco are some of the key market players operating in the global terminal blocks market. The listing of key players is derived by considering multiple factors such as overall revenue, current terminal blocks product portfolio, geographical reach, new product launches, market initiatives, and investment in technology up-gradation, partnerships, and other market-related activities. In addition to these players, there are several other important players operating in the terminal block ecosystems which were studies analyzed during this market research study, such as Eaton Corporation PLC, Metz Connect USA Inc., Molex LLC, Rockwell Automation, Inc, and Wieland Electric. Most of the market initiatives were observed in North America and Europe regions, which have a high potential for market-related products, solutions, and services. A few of the important market initiatives from the industry are mentioned below:
| Year | Development | Region |
| 2021 | Phoenix Contact has expanded its offering with PCB terminal blocks for PROFINET-compliant data transfer. | North America |
| 2018 | TE Connectivity, a global leader in connectivity and sensors, and ABB, a global pioneering technology leader in electrification products, robotics and motion, industrial automation, and power grids, announced the completion of TE’s previously announced acquisition of ABB’s ENTRELEC terminal block business. | Europe |
