Views:86 Author:Site Editor Publish Time: 2020-10-19 Origin:Site
The global high current terminal blocks market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2026. The growth of the market would be primarily driven by factors such as the growing PCB market and increasing demand for PCB terminal blocks; advancements in various connection technologies for terminal blocks; rising demand for multipurpose, multifunctional, intelligent, finger-safe terminal blocks; increasing adoption of terminal blocks in the telecom sector.
Key Target Audience:
● End-users of terminal blocks
● Component providers
● System integrators
● Research organizations and consulting companies.
● Associations, organizations, forums, and alliances related to the terminal block market.
● Government bodies such as regulating authorities and policymakers.
● Venture capitalists, private equity firms, and startup companies related to the terminal block 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. APAC is expected to grow at the fastest rate in the terminal block market
Increasing industrialization and factory automation in the APAC region is the major region behind the growth of terminal blocks in this region. Increasing demand for HVAC and telecom equipment help to drive the demand for terminal blocks in this region. China is one of the largest consumers in the automotive segment so creating demands for terminal blocks for the automotive segment.
North America is one of the prominent regions for terminal blocks due to the presence of companies in North America such as Curtis Industries (U.S.), General Electric (U.S.), Marathon Special Products (U.S.), Mitsubishi Electric Automation, Inc. (U.S.), Molex Electronics Solutions (U.S.), OMEGA Engineering (U.S.), Rockwell Automation (U.S.), Siemens Industry (U.S.), WECO Electrical Connectors (Canada), Automation System Interconnect, Inc. (U.S.) creates ample of opportunities for the terminal block market.
The development of terminals is inseparable from the update of the times, and its development indirectly affects the innovation of the market. And the decision of terminal useability is its own mechanical performance. Mechanical properties, a more popular explanation is the specified range of the plug-in force of the terminal. Now the production process of terminal blocks has made great progress, so a lot of high-tech elements have been added to the production design and production process. Not only the design itself have more humanized elements, but also can continuously adapt to the standard requirements of various source devices in various environments. More importantly, the universality of the adaptability and the general performance has been greatly improved It promotes the rapid development of the terminal industry, and independent from the large industry, becomes a separate industry development, more professional, and therefore improves the level and speed up progress, so as to meet the needs of the market.
At the same time, engineers have to consider another factor that is often overlooked, that is, marketing. In general, the terminals are visible to the user, so marketing departments often want the product to match the color and style of the entire system in terms of appearance.
At present, there are more than 300 terminal manufacturers in the domestic market, and the main brands are about 20 to 30. Most domestic enterprises have a short history and many new products have entered the market for a short time. It is difficult to compete with the international famous brands with a long history in terms of product maturity and brand awareness. Therefore, China's terminal market is still price-oriented, which may lead to the difference between the terminals promoted by many international brands in China and those in the world, and also provide certain opportunities for the development of local terminal brands. With the rise of local brands, the market share of domestic terminal enterprises is gradually expanding, especially in recent years, there is a trend of accelerating the replacement of foreign brands. It shows certain competitive advantages in some subdivision products and markets, and the market share is gradually expanding. It is expected that the market share of domestic brands will exceed that of foreign brands in the next few years.
Sun Electric Factory is a professional manufacturer of terminals with complete product series. With nearly 10 years of development history, we have been committed to the manufacturing and production of terminal series products. With advanced management mode, perfect technology, and fine mold, we have been constantly researching and developing and technological innovation, which has laid a solid foundation for product quality. Welcome new and old customers to order terminal products!