Terminal Block Market worth 4.64 Billion USD by 2022 -Global Forecast By Experts
The report "Terminal Block Market by Type (Barriers, Sectional, PCB, Power), Industry (Business Equipment, HVAC, Power Supplies, Industry Controls, Instruments, Telecom Equipment, Transportation), Structure, Function, & Connection And Geography - Global Forecast to 2022", The terminal block market size is estimated to grow from USD 3.21 Billion in 2015 to USD 4.64 Billion by 2022, at a CAGR of 5.5% between 2016 and 2022. Browse 37 market data Tables and 56 Figures spread through 130 Pages and in-depth TOC on "Terminal Block Market - Global Forecast to 2022" https://www.marketsandmarkets.com/Market-Reports/terminal-block-market-234776256.html Early buyers will receive 10% customization on reports. Terminal blocks are modular, insulated blocks that secure two or more wires together. Terminal blocks comprise an insulating body and a clamping device. Wires are clamped down to the metal part by a screw. It is a connector which joins one or more circuits to another. Sectional blocks play important role in the terminal block market The sectional blocks segment is expected to have the largest market share and dominate the terminal block market between 2016 and 2022. Advancements in NEMA and IEC DIN rail sectional blocks have increased the use of these blocks in various applications such as construction, harsh environment, amusement park ride controls, discrete manufacturing, conveyance lines, special machines, educational campuses, commercial office buildings, and building automation. IEC DIN rail sectional blocks offer more terminations per linear foot and compatibility between products from different vendors drives the sectional terminal blocks market. Industry controls, HVAC, instruments, and telecom equipment are the prominent industries in the terminal block market The increasing adoption of automation in factories in the U.S., China, and Germany drives the growth of the global industry controls and factory automation markets which help to drive the terminal block market for the industry controls sector. APAC is the leading region in the telecom market which is dominated by countries such as China, Japan, Hong Kong, Malaysia, India, South Korea, and Vietnam. Government taking initiatives in the telecom market fuels the growth of the telecom market which is expected to drive the demand for terminal blocks during the forecast period.
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