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Key Players Adopted Various Strategies Such as Partnerships, Agreements, Mergers & Acquisitions, and New Product Developments to Achieve the Growth in the Terminal Block Market
MarketsandMarkets estimates the terminal block market size 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.
The key players in this market include PHOENIX CONTACT GmbH & Co. KG (Germany), Weidmüuller 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.), METZ CONNECT (Germany), and so on. These players have adopted various strategies such as partnerships, agreements, mergers & acquisitions, and new product developments to achieve the growth in the terminal block market.
PHOENIX CONTACT GmbH & Co. KG is one of the major players in the terminal block market. In the terminal block market, it offers the barrier connection terminal blocks, bolt connection terminal blocks, fast connection terminal blocks, push-in connection terminal blocks, screw connection terminal blocks, special connection terminal blocks, spring-cage connection terminal blocks, terminal blocks for photovoltaics, terminal blocks for protection and control technology, accessories for terminal blocks, and planning & marking software. The company continuously invests in R&D activities resulting in a large number of new product developments in various markets. For instance, in January 2016, the company introduced knife-disconnect terminal blocks which feature a quick and safe finger-actuation mechanism for test and measurement applications. The company believes in the strategy of new product launches, ideas, or business models. The company recently created investment company, PHOENIX CONTACT Innovation Ventures GmbH to promote innovative startup ventures.
Weidmüller is one of the leading manufacturers of the terminal blocks. Weidmüller’s product portfolio ranges from terminal blocks, PCB connectors and terminals, protected components, industrial ethernet components, and relay sockets to power supply and overvoltage protection modules suitable for all applications. Weidmüller products are mainly used in control cabinets and for field wiring. Weidmüller has a strong presence worldwide with production facilities, sales companies, and agencies in over 80 countries. The company has a global presence with its own manufacturing plants, sales companies, and representatives in over 70 countries. The company believes in strategies such as focusing on the innovative, high-quality and customer-oriented products to fulfill the customer’s needs. For instance, the company launched NEW WDK 10 terminal blocks, new double-level power terminal blocks for space-saving application requirements. The company also focuses on differentiating its products from the competitors and on first-class performance in technology, product, and service. The company is building strategies to strengthen and expand its expertise for switching cabinet, field wiring, and PCB products to achieve consistent first-class performance in all business areas and processes.
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
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