Global Terminal Block Market: Market Analysis by Knowledge Sourcing Intelligence
Terminal Block Market is projected to grow at a decent CAGR over the forecast period. Geographically, Asia Pacific (APAC) region is projected to witness the fastest regional market growth due to growth being observed in the telecom industry in conjunction with supportive government initiatives and grants in countries such as Japan, China, India, and South Korea. Furthermore, increasing industrial activities in the region and the growing need for HVAC equipment will further propel the growth of terminal block market in the region. However, the major restraining factors are the cyclic nature of automobile, consumer goods, machinery, and other allied industries.
Telecom sector is increasing at a high rate in APAC region especially due to the burgeoning demand for smartphones in China and India owing to increasing investments, and government initiatives. For example, in India, encouragement towards foreign direct investments has spurred up the investment in telecom infrastructure and is contributing to the increasing demand for terminal blocks over the forecast period. Strong consumer demand owing to the need of being connected and low-cost services being offered by various telecommunication service providers is further fuelling the market growth.
 |
| Global Terminal Block Market Forecast |
Global Terminal Block Market by Type:
The Terminal Block Market has been segmented by type into Barriers or Barrier Strips, PCB Mount Terminal Blocks, Sectional Terminal Blocks, Power Blocks, and Others. Rapid industrialization and factory automation drive the demand of terminal blocks, as these act as electrical connectors which are widely used in providing automation solutions.
The PCB mount terminal blocks accounted for US$X.XXX billion in 2016 and is estimated to grow at a CAGR of X.XX% during the forecast period to reach a total market size of US$X.XXX billion by 2021. Growing PCB market and technological advancements in PCB technology are major factors driving the segment’s growth. Increasing demand for multifunctional and multipurpose terminal blocks is further bolstering the PCB mount terminal blocks market. The market research provides a detailed analysis of the global terminal block market on the basis of the various segment like- by type, by industry vertical, etc.
Global Terminal Block Market by Industry Vertical:
The Terminal Block Market has been segmented by industry vertical as Energy and Power, Travel and Transport, Communication and Technology, Manufacturing, Construction, and Others.
The energy and power segment of the global terminal block market accounted for US$X.XXX billion in 2016 and will continue growing at a CAGR of X.XX% during the forecast period to reach a total market size of US$X.XXX billion by 2021. Energy and power industry is witnessing rapid growth owing to rapid urbanization and industrialization and in turn, augmenting the adoption of terminal blocks. Need for industrial controls, and HVAC are major factors driving the market growth of terminal blocks in the energy and power sector.
Asia Pacific terminal block market is gaining significant momentum owing to increasing investments across various industry verticals in fast-growing economies of China and India. Stringent energy regulations, technological innovation, and provision of financial incentives for energy-efficient HVAC systems are further propelling the regional terminal block market.
 |
| Global Terminal Block Market by Industry Vertical |
global terminal block market size
For our Semiconductor Industry coverage:
global terminal block market trends
Uncertain economic conditions will also affect investments in key end-user industry verticals which create the demand for terminal blocks and thus will affect the market growth over the forecast period.
Connect with us:
https://www.facebook.com/knowledgesourcing/https://www.linkedin.com/company/knowledge-sourcing-intelligence
https://twitter.com/ksourcingi
Comments
Post a Comment