Press release
2025 Terminal Block Market Outlook: Key Indicators Shaping Growth Through 2034
Terminal Block
What Will the Terminal Block Industry Market Size Be by 2025?
The market size for terminal blocks has significantly expanded in the past few years. It is projected to increase from $4.38 billion in 2024 to $4.62 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%. The growth witnessed in the historic period can be credited to factors such as industrial automation, advancements in the electronics and electrical industry, infrastructure development, and an emphasis on safety and reliability in electrical distribution networks.
What's the Long-Term Growth Forecast for the Terminal Block Market Size Through 2029?
In the coming years, the terminal block market is set to witness robust expansion. The market is projected to reach $5.88 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.2%. This growth during the forecasted period can be associated with factors such as the integration of industry 4.0, initiatives towards electrification, innovation and miniaturization of the designs, quick-paced urbanization, and the growth of the electric vehicle market. The forecast period also predicts key trends including collaborations and innovations, the amalgamation of renewable energy, development in urban infrastructure, and adherence to safety standards.
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What Are the Key Growth Drivers Fueling the Terminal Block Market Expansion?
The terminal block market is predicted to grow as the demand for smart devices increases. Smart devices, which are electronic gadgets capable of transferring data wirelessly or by a cabled connection while being cognizant of their surroundings, use terminal blocks. These blocks are essential to maintain safe, organized, and secure connections in electrical systems. Mediapost, a media company based in the US, shared that around 22 million homes possess smart devices, with 69% of American households owning at least one. They also projected that by 2023, 15% of households globally will have installed a smart home device. Thus, the escalating demand for smart devices is propelling the expansion of the terminal block market.
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What Are the Key Trends Driving Terminal Block Market Growth?
Leading businesses in the terminal block marketplace are concentrating their efforts on the creation of advanced, technological solutions, such as modular compact terminal blocks, to bolster connectivity and to meet the growing requirements for adaptable and expandable electrical systems across a variety of sectors. Modular compact terminal blocks are compact, space-conscious electrical connectors that are designed to safely connect numerous wires in the electrical control panels and junction boxes. As an example, in May 2024, Weidmuller, a German company with expertise in both industrial and electrical connectivity, launched its innovative Klippon Connect W2C and W2T modular compact terminal blocks. These were designed with the intention to increase flexibility and efficiency in managing intricate signal wiring in compact panel installations. The terminal blocks launched by Weidmuller feature a modular design that supports easy customization, hence making them an excellent choice for applications where space is at a premium.
How Is the Terminal Block Market Segmented?
The terminal block market covered in this report is segmented -
1) By Type: Barriers Or Barrier Strips, Sectional Terminal Blocks, PCB Mount Terminal Blocks, Power Terminal Blocks, Other Types
2) By Function Type: Single-Level Feed-Through Terminal Blocks, Dual-Level Terminal Blocks, Three-Level Blocks, Ground Circuit Terminals, Fuse Terminal Blocks, Other Functions
3) By Industry: Business Equipment, HVAC Systems, Power Supplies, Industrial Controls, Process Control Instruments, Telecom Equipment, Transportation, Other Industries
Subsegments:
1) By Barriers Or Barrier Strips: Single-Row Barrier Strips, Multi-Row Barrier Strips
2) By Sectional Terminal Blocks: Modular Terminal Blocks, Screw Terminal Blocks, Spring Terminal Blocks
3) By PCB Mount Terminal Blocks: Through-Hole PCB Terminal Blocks, Surface-Mount PCB Terminal Blocks
4) By Power Terminal Blocks: Heavy-Duty Power Terminal Blocks, Mini Power Terminal Blocks
5) By Other Types: Feed-Through Terminal Blocks, Fuse Terminal Blocks, Fuse Holder Terminal Blocks
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Which Companies Are Leading the Charge in Terminal Block Market Innovation?
Major companies operating in the terminal block market are TE Connectivity Ltd., Omron Corporation, Eaton Corporation PLC, Rockwell Automation Inc., Molex LLC, Weidmüller Interface GmbH & Co. KG, WAGO Kontakttechnik GmbH & Co. KG, Phoenix Contact GmbH & Co. KG, Wieland Electric GmbH, ABB Ltd., Weco Electrical Connectors Inc., Ningbo Degson Electrical Co.Ltd., Metz Connect GmbH, Dinkle Group, K.A. Schmersal GmbH & Co. KG, Altech Corporation, Amphenol Corporation, Bourns Inc., Curtis Industries LLC, EBY Electro Inc., E-T-A Elektrotechnische Apparate GmbH, Keystone Electronics Corp., Lumberg Automation Components GmbH & Co., Regal Rexnord Corporation, Panduit Corp., RIA Connect Inc., Sprecher + Schuh Inc., Weiland Electric Inc., Würth Elektronik GmbH & Co. KG
Which Regions Are Leading the Global Terminal Block Market in Revenue?
Asia-Pacific was the largest region in the terminal block market in 2024. The regions covered in the terminal block market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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