Terminal Block Market Growing at 5.5% CAGR to 2022 Led by HVAC & Industry Controls
PUNE, India, May 23, 2016 /PRNewswire/ --
The terminal block market size is to grow from $3.21 billion in 2015 to $4.64 billion by 2022, at an estimated CAGR of 5.5% between 2016 and 2022 with gaining maximum traction for industry controls, instruments, and HVAC driven by increasing demand for multipurpose, multifunctional, intelligent, finger-safe terminal blocks.
Complete report on terminal block market across 130 pages, profiling 10 companies and supported with 37 tables and 56 figures is now available at http://www.reportsnreports.com/reports/547554-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.html .
The terminal block market is driven by factors such as increasing demand for multipurpose, multifunctional, intelligent, finger-safe terminal blocks; growing PCB market; and increasing demand for PCB terminal blocks; advancements in various connection technologies for terminal blocks; and increasing adoption of terminal blocks in the telecom sector.
The industry controls and HVAC are estimated to contribute the largest market share during the forecast period. Advancements in termination technologies of terminal blocks, intended for use in more rugged applications such as instrumentation, industry controls, and data acquisition spur the growth of terminal blocks. Rapid urbanization, rising disposable income, strict energy regulations, financial incentives through tax credit programs for energy-efficient HVAC systems, and technological innovations are some of the driving factors of growing HVAC industry which eventually drives the demand for terminal blocks in the HVAC industry.
APAC is one of the prominent regions in the terminal block market, and it is expected to grow a significant rate compared to other regions. Increasing markets for telecom equipment, industry controls, HVAC industry, power supplies, and instruments provide ample opportunities for the terminal block market. Increased industrial activities in the APAC region and increasing demand for advanced process control plants drive the growth for sophisticated instrumentation spurring the growth for the terminal blocks market.
Rapid urbanization and industrialization in developing countries and rising demand for micro-miniaturized terminal blocks provide opportunities for the growth of this market.
The various key terminal block vendors profiled in this report such as PHOENIX CONTACT GmbH & Co. KG (Germany), Weidmüller Interface GmbH & Co. KG (Germany), WAGO Kontakttechnik GmbH & Co. KG (Germany), Wieland Electric GmbH (Germany), ABB Group (Switzerland), Rockwell Automation, Inc. (U.S.), WECO Electrical Connectors Inc. (Canada), Eaton Corp. Plc (Ireland), Molex, LLC (U.S.) and METZ CONNECT (Germany). Order a copy of Terminal Block Market by Type (Barriers, Sectional, PCB, and Power), Industry (Business Equipment, HVAC, Power Supplies, Industry Controls, Instruments, Telecom Equipment, and Transportation), Structure, Function, & Connection and Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=547554
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (46%) and Tier 3 (19%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (45%), Manager Level (35%) and others (20%) from various key organizations operating in the global terminal block market. The primary interviews were conducted worldwide covering regions such as North America (41%), Europe (36%), APAC (17%) and RoW (6%).
On a related note, another research on High Voltage Direct Current (HVDC) Transmission Market Global Forecast to 2022 says, the HVDC market is estimated to reach USD 10.77 Billion by 2022, at a CAGR of 8.4% between 2016 and 2022. VSC-based technology is at the growth stage; while UHVDC is at the introductory stage. The APAC market is expected to grow at the highest rate during the forecast period. Major drivers, restraints, opportunities and, challenges for the HVDC transmission market have been detailed in this report. Companies like ABB Ltd., Siemens AG, General Electric, Hitachi, Toshiba, Nexans, Prysmian, NR Electric, American Superconductor and Transgrid have been profiled in this 167 pages research report available at http://www.reportsnreports.com/reports/402792-high-voltage-equipment-market-by-voltage-uhvehvhvdchv-equipment-power-transformers-switchgear-switches-control-reactive-power-instrument-transformer-relay-panel-earthing-equipment-battery-set-by-region-trends-to-2020.html
Explore more reports on the Semiconductor and Electronics market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/
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