Terminal Block Market Trends, Share, and Growth (2021-2031)
The terminal blocks market size is projected to reach US$ 7.12 billion by 2031 from US$ 4.78 billion in 2023. The market is expected to register a CAGR of 5.1% during 2023–2031. The growing adoption of smart power distribution blocks is likely to remain a key trends in the market.
Terminal Blocks Market Analysis
The need for energy-efficient electronics, implementation of advanced manufacturing strategies, rising demand for smart devices, and growing adoption of modern and enhanced technologies in consumer electronics are the prominent factors driving the demand for PCBs, eventually propelling the requirement for terminal blocks.
Terminal Blocks Market Overview
Terminal Block is a modular connector designed to provide a dependable connection by connecting two or more wires and managing complicated electrical circuits. They are also used to attach wires to ground or earth connections. The outside bodies of Terminal Blocks are typically constructed of melamine or polyamide material. Terminal Blocks primarily employ a copper alloy to achieve extremely low contact resistance. The wires are firmly linked to current bars using clamps, which might be screw clamps, spring clamps, nuts and bolts, or studs. There are several varieties of lugs or ferrules available for attaching wires to Terminal Blocks, including pin-type, tubular, hook-type, fork-type, and ring-type lugs, depending on the region of application, current, and voltage ratings.
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Terminal Blocks Market: Strategic Insights
Terminal Blocks Market
-
CAGR (2023 - 2031)
5.1%
-
Market Size 2023
US$ 4.78 Billion
-
Market Size 2031
US$ 7.12 Billion
Market Dynamics
GROWTH DRIVERS
- Rising Demand for Smart Devices
FUTURE TRENDS
- Growing adoption of smart power distribution blocks
OPPORTUNITIES
- Increased Industrial Automation
Key Players
- ABB Ltd
- Eaton Corporation PLC
- Metz Connect USA Inc
- Molex LLC
- Phoenix Contact
- Rockwell Automation Inc
- Wago Kontakttechnik GmbH Co KG
- Weco Electrical Connectors Inc
- Weidm ller Interface GmbH Co KG
- Wieland Electric
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Barriers
- Sectional Terminal Blocks
- PCB Mount Terminal Blocks
- Power Blocks
Function Type
- Single-feed Through
- Dual-level Terminal Block
- Three-level Terminal Blocks
Connection Technologies
- Spring Clamp Terminal Blocks
- Screw-type Terminal Blocks
- Insulation Displacement Connection
- Push-in Type Terminal Blocks
- Barriers
Industry
- Business Equipment
- HVAC
- Power Supplies
- Industry Controls
- Instruments
- Telecom Equipment
- Transportation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Terminal Blocks Market: Strategic Insights
-
CAGR (2023 - 2031)5.1% -
Market Size 2023
US$ 4.78 Billion -
Market Size 2031
US$ 7.12 Billion
Market Dynamics
- Rising Demand for Smart Devices
- Growing adoption of smart power distribution blocks
- Increased Industrial Automation
Key Players
- ABB Ltd
- Eaton Corporation PLC
- Metz Connect USA Inc
- Molex LLC
- Phoenix Contact
- Rockwell Automation Inc
- Wago Kontakttechnik GmbH Co KG
- Weco Electrical Connectors Inc
- Weidm ller Interface GmbH Co KG
- Wieland Electric
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Barriers
- Sectional Terminal Blocks
- PCB Mount Terminal Blocks
- Power Blocks
- Single-feed Through
- Dual-level Terminal Block
- Three-level Terminal Blocks
- Spring Clamp Terminal Blocks
- Screw-type Terminal Blocks
- Insulation Displacement Connection
- Push-in Type Terminal Blocks
- Barriers
- Business Equipment
- HVAC
- Power Supplies
- Industry Controls
- Instruments
- Telecom Equipment
- Transportation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Terminal Blocks Market Drivers and Opportunities
Rising Demand for Smart Devices to Favor Market
The rising demand for smart gadgets is projected to propel the terminal block industry ahead. A smart device is an electronic gadget that can communicate with other devices wirelessly or by cable. Terminal blocks are used to keep electrical systems linked, organized, and secure. According to Mediapost, a US-based media firm, around 22 million houses have smart devices; of these, 69% of households in the United States have at least one smart device, and 15% of households globally are predicted to have a smart home device installed by 2023. As a result, increased demand for smart devices drives the terminal block market.
Increased Industrial Automation
The terminal block market is likely to grow faster as industrial automation becomes more widely adopted. Industrial automation is the use of autonomous systems, such as robots and computer software, to control machinery and processes in a variety of industries, enhancing precision and flexibility. A significant amount of industrial automation is based on complex control systems that require accurate and reliable electrical connections. Terminal blocks are critical components of these systems because they provide a safe and structured means to connect and distribute power and electrical signals.
Terminal Blocks Market Report Segmentation Analysis
Key segments that contributed to the derivation of the terminal blocks market analysis are type, function type, connection technologies, industry and device type.
- Based on type, the market is segmented by barriers, sectional terminal blocks, PCB mount terminal blocks, power blocks, and others. The sectional terminal blocks segment held a significant market share in 2023.
- Based on function type, the market is segmented into single-feed through, dual-level terminal block, and three-level terminal blocks. The single-feed through segment held a larger market share in 2023.
- Based on connection technologies, the market is segmented into spring clamp terminal blocks, screw-type terminal blocks, insulation displacement connections, push-in type terminal blocks, and barriers. The spring clamp terminal blocks segment held a larger market share in 2023.
- Based on industry, the market is segmented into business equipment, HVAC, power supplies, industry controls, instruments, telecom equipment, transportation, and others. The HVAC segment held the largest share of the market in 2023.
- Based on device type, the market is segmented into ground circuit terminal, fuse terminal blocks, and others. The ground circuit terminal segment held the largest share of the market in 2023.
Terminal Blocks Market Share Analysis by Geography
The geographic scope of the terminal blocks market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific dominated the terminal blocks market in 2023. The need for PCBs is expanding because of the growing need for energy-efficient electronics, the deployment of sophisticated production processes, the rising demand for smart gadgets, and the increasing acceptance of current and upgraded technology in consumer electronics. Growing investments in the electronics sector are driving up the need for PCBs. For instance, in December 2021, the Indian government authorized a US$ 10 billion incentive plan to create semiconductor and display factories in the nation as part of its strategy to become an electronics manufacturing powerhouse. In January 2022, Intel announced its proposal to invest more than US$ 20 billion to develop two new plants and establish a new hub for advanced chip manufacturing in the Midwest.
Terminal Blocks Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 4.78 Billion |
Market Size by 2031 | US$ 7.12 Billion |
Global CAGR (2023 - 2031) | 5.1% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Terminal Blocks Market News and Recent Developments
The terminal blocks market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the terminal blocks market are listed below:
- TE Connectivity Launched SNACompact Terminal Blocks. The SNACompact terminal block range allows for a high level of productivity in smaller spaces while also being an option for mid-size companies looking for an economical solution in a high-pressure market. (Source: TE Connectivity, Press Release, November 2021)
- ABB launched a new range of PI-Spring terminal blocks for photovoltaic installations that make connections faster and simpler. ABB’s patented connection mechanism is up to 50 percent faster than terminal blocks with screw clamp or busbar connections. (Source: ABB, Press Release, February 2019)
Terminal Blocks Market Report Coverage and Deliverables
The “Terminal Blocks Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Terminal Blocks market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Terminal Blocks market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Terminal Blocks market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Terminal Blocks market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Function Type, Connection Technologies, Industry, and Device Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, UAE, UK, US
Frequently Asked Questions
Asia Pacific dominated the terminal blocks market in 2023.
The need for energy-efficient electronics, implementation of advanced manufacturing strategies, rising demand for smart devices, and growing adoption of modern and enhanced technologies in consumer electronics are the prominent factors driving the demand for PCBs, eventually propelling the requirement for terminal blocks.
The growing adoption of smart power distribution blocks is likely to remain a key trends in the market.
TE Connectivity, Phoenix Contact, Weidmuller, ABB Ltd, Wago, and Weco are among the leading terminal blocks market.
The estimated value of the terminal blocks market is expected to reach US$ 7.12 billion by 2031.
The market is expected to grow at a CAGR of 5.1% over the forecast period.