A terminal block is defined as an electric connector in which the wires are clamped down to the metal part by a screw. It allows more than one circuit to connect to another and often contains two long aluminum or copper strips designed to link different components. These strips create a bus bar for power distribution which is sent to the connected components. Terminal blocks are modular, insulated blocks which unite two or more wires and are usually made of an insulating body and a clamping device to complete the connection. They include a broad range of fixed-mount and pluggable European cage clamps, U.S.-style screw clamps, spring clamp-style wire-to-board and wire-to-wire blocks, and related headers.
The global terminal block market can be segmented on the basis of type, application, and geography. In terms of type, the market is divided into the following categories: barriers, sectional, printed circuit board (PCB), and power. The barriers segment is further split into the single row and double row divisions, the sectional segment into Nema (American style) and IEC (European style) divisions, and the PCB segment into fixed and pluggable divisions. Applications of terminal blocks include business equipment, HVAC, power supplies, industry controls, instruments, telecom equipment, and transportation.
This market is driven by factors such as the increasing demand for multipurpose, multifunctional, intelligent, finger-safe terminal blocks; the ever-expanding PCB market; advancements in various connection technologies; and the product’s growing adoption in the telecom sector. Industry controls and HVAC are estimated to contribute a major market share during the forecast period. Developments in termination technologies of terminal blocks intended for usage in more rugged applications such as instrumentation, industry controls, and data acquisition spur their growth. Rapid urbanization, rising disposable incomes, strict energy regulations, financial incentives through tax credit programs for energy-efficient HVAC systems, and technological innovations also play a part in motivating the HVAC industry which eventually fuels the demand for terminal blocks in this industry.
By geography, the market is distributed over North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The U.S. and Canada are expected to propel the terminal block market in North America. In Europe, countries such as the U.K., Germany, France, Russia, Spain, Italy, and Sweden are the leading players. China, South Korea, Japan, India, Thailand, Philippines, Malaysia, and Singapore are likely to dominate the terminal block market in Asia Pacific, with China being a rapidly developing country. Israel, Turkey, UAE, Iran, Egypt, Nigeria, Kenya, and Saudi Arabia are some of the leading countries in the market in Middle East & Africa, whereas Latin America is dominated by Brazil, Mexico, and Argentina.
The global market comprises numerous companies operating at regional as well as global levels. Key players include Infineon Technologies AG, Phoenix Contact GmbH & Co. Kg, Microsemi Corporation, Weidmüller Interface GmbH & Co. Kg, Wago Kontakttechnik GmbH & Co. Kg, Wieland Electric GmbH, ABB Group, Rockwell Automation, Inc., Vicor Corporation, Crane Aerospace and Electronics, Weco Electrical Connectors Inc., Synqor Inc., Eaton Corporation PLC, Modular Devices Inc., Molex LLC, and Metz Connect.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.