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. There are various types of terminal blocks, including barrier strips, modular terminal blocks, PCB terminal blocks, and power distribution blocks.

According to the new research report on "Terminal Blocks Market Forecast to 2028 – COVID-19 Impact and Global Analysis," published by The Insight Partners, the terminal blocks market is expected to reach US$ 6,138.30 million by 2028, registering a CAGR of 5.1% from 2022 to 2028.

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.

Key Findings of Study:

The leading terminal blocks market share of Europe is attributed to the rapid pace of industrialization and increasing adoption of electronic components in IoT, artificial intelligence, and machine learning-based products. The rising adoption of industrial automation solutions and growing investment in the semiconductor and electronics industry are the key factors responsible for the growth of the Asia Pacific terminal blocks market. Asia Pacific is also considered the manufacturing hub of smartphones, laptops, sound systems, televisions, and many other household devices, aiding the market growth. The PCB terminal blocks and connectors are fundamental components of all electronic devices. PCBs are also used in automotive vehicles fully equipped with wired and wireless technologies to connect them to computing devices, such as smartphones. Thus, the growing demand for PCB’s across the electronics industry is also fueling the demand for PCB’s, which helps drive the market growth. Rising advancements in connection technologies ease out different types of connections in industrial controls, HVAC, telecom equipment, instruments, power supplies, automotive and transportation, and other applications. Further, In May 2022, Mouser Electronics, Inc. developed the Phoenix Contact LPTA6 PCB Terminal Block that offers tool-free lever connection technology, which is ideal for device connections in the field and on-site. Miniature and micro-terminal blocks support the trend of miniaturization in machine building, switchgear, and control cabinet manufacturing. Thus, the growing trend for reducing the size of the terminal block is accelerating the terminal blocks market size. The report provides detailed market insights, which helps the terminal blocks market key players to strategize the growth in the coming years.

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