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Terminal Block Market will expand with steady pace by 2016-2024

Terminal Block Market
Terminal Block Market

Zion Market Research, the market research group announced the analysis report titled  ‘Terminal Block Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024′

Global Terminal Block Market: Overview

A screw type terminal block is nothing but an electrical connector in which the wires are clamped down to the part that is mainly of metal by the screw. This gives the benefit of connection more than one circuit to other circuits. The different components are connected with the help of two long strips which may be of aluminum or copper. A barrier strip consists of many screw terminals. The terminal blocks are insulated blocks which are modular that secure many wires together. The growing demand for the PCB terminal blocks and the advancements in the terminal block technologies are the prime drivers of the market growth.

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Global Terminal Block Market: Segmentation

The terminal block market is globally segmented into its type, industry, function types, connection technologies, and geography. On the basis of the type the terminal block market is categorized into sectional terminal blocks, power blocks, barriers, PCB mount terminal blocks and others. Based on the industry the terminal block market is segregated into HVAC, industry controls, telecom equipment, business equipment, power supplies, instruments, transportation and others. On the basis of the function types the terminal block market is divided into dual-level terminal blocks, ground circuit terminals, fuse terminal blocks, I/O blocks, single-feed through terminal blocks, three level blocks, disconnect/knife-disconnect/switch terminal blocks, thermocouple blocks and sensor-specific terminal blocks. On the basis of the connection technologies the terminal block market is categorized into screw-type terminal blocks, push-in type terminal blocks, spring clamp terminal blocks, insulation displacement connection and special connections. Region wise the terminal block market diversifies into Asia-Pacific, Europe, North America and Rest of the World.

Global Terminal Block Market: Growth Factors

The major factors that are driving the terminal block market include the growth in the PCB market owing to the growing demand for the PCB terminal blocks. There have been various technological advancements in the various connections for the terminal blocks which is giving opportunities to the market to grow. There has been an increase in demand for the adoption of the multifunctional, multipurpose, finger-safe terminal blocks, intelligent and the adoption of the terminal block in the telecom sector. There will be an increased array of opportunities for the growth of the terminal block market, in the coming years, owing to factors such as rapid urbanization, industrialization, and demand for the micro-miniaturized terminal blocks. The factor that hampers the market growth is the challenge that the manufacturers will face in designing the surface mount technology terminal blocks.

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Global Terminal Block Market: Regional Analysis

The region that dominates the terminal block market is the Asia-Pacific and it will continue to do so in the coming years. The factors that are acting favorable for this are the rise in the markets for the telecom equipment, growth in the HVAC industry, the industrial controls, power supplies and the instruments are providing huge opportunities for the growth of the terminal block market. The rapid industrialization in this region and the growing demand for the process control plants are driving the terminal block market. The developing regions such as India, China, and Indonesia have contributed a major share in the growth of the terminal block market.

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Global Terminal Block Market: Competitive Players

The major market players in the terminal block market include WAGO Kontakttechnik GmbH & Co. KG, ABB Group, WECO Electrical Connectors Inc., Molex, LLC., Metz Connect, Wieland Electric GmbH, Rockwell Automation, Inc., Phoenix Contact GmbH & Co. KG, Eaton Corp. Plc and Weidmüller Interface GmbH & Co. KG.

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