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Terminal Block Market Worth USD 4.64 Billion by 2022 - Increase Demand for Multipurpose, Multifunctional Terminal Blocks - Research and MarketsResearch and Markets has announced the addition of the "Terminal Block Market by Type, Industry, Structure, Function, & Connection And Geography - Global Forecast to 2022" report to their offering. The terminal block market size is estimated to grow from USD 3.21 billion in 2015 to USD 4.64 billion by 2022, at an estimated CAGR of 5.5% between 2016 and 2022. 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 enegy 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. Companies Mentioned:
Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Industry Trends 7 Terminal Block Market, By Type 8 Terminal Block Market, By Industry 9 Classification of Terminal Blocks According to Structure, Function, and Connection Type 10 Terminal Block Market, By Geography 11 Competitive Landscape 12 Company Profiles For more information visit http://www.researchandmarkets.com/research/kgmn4j/terminal_block View source version on businesswire.com: http://www.businesswire.com/news/home/20160526006458/en/ |
