Report : Europe Terminal Block Market Forecast to 2028 - COVID-19 Impact and Regional Analysis – by Type (Barriers, Sectional Terminal Blocks, PCB Mount Terminal Blocks, Power Blocks, and Others), Function Type (Single-feed Through, Dual-level Terminal Block, and Three-level Terminal Blocks), Connection Technologies (Spring Clamp Terminal Blocks, Screw-type Terminal Blocks, Insulation Displacement Connection, Push-in Type Terminal Blocks, and Barriers), Industry (Business Equipment, HVAC, Power Supplies, Industry Controls, Instruments, Telecom Equipment, Transportation, and Others), and Device Type (Ground Circuit Terminal, Fuse Terminal Blocks, and Others)
At 5.2% CAGR, the Europe Terminal Block Market is speculated to be worth US$ 2,352.72 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Europe terminal block market was valued at US$ 1,734.18 million in 2022 and is expected to reach US$ 2352.72 million by 2028, registering an annual growth rate of 5.2% from 2022 to 2028. Advancements in connection technologies for terminal blocks and increasing demand for pcb terminal blocks are the critical factors attributed to the market expansion.
Advancements in connection technologies such as screw clamps, spring clamps, push-in terminals, insulation displacement connections, and special connection technologies (slip-on connection and TERMI-POINT connection) ease out different types of connections in industrial controls, HVAC, telecom equipment, instruments, power supplies, automotive and transportation, and other applications. For example, Phoenix Contact provides a comprehensive portfolio of connection technologies for PCB terminal blocks and PCB connectors for Single Pair Ethernet. These products facilitate the integration of intelligent field devices into switch-based Ethernet environments. The PCB connection technology fulfills the requirements of the APL Port Profile Specification (Draft 0.3) and is therefore ideal for applications in process automation. Toshiba has developed a technology of Bare Wire Connection Mechanism (BWCM) that uses two connector technologies. Thus, progressive digitalization and industrial transformation trends are shortening the time required for new device production, while prototyping is playing a more important role in evolving the electronics industry. Modularity and flexibility are gaining increasingly higher significance in device development. HARTING Technology Group offers PCB connectors that meet the electronics industry's demands for modularity, flexibility, and accelerated device development. In May 2022, Mouser Electronics, Inc. developed the Phoenix Contact LPTA6 PCB Terminal Blocks that offer tool-free lever connection technology, which is ideal for device connections in the field and on-site. The newly launched products are used in various applications such as electromobility charging infrastructure, automation technology, transportation technology, telecommunications, and drive technology. Furthermore, in August 2021, Mouser Electronics, Inc. introduced Phoenix Contact LPC 2.5 Lever-Actuated Pluggable Terminal Blocks to offer tool-free lever connection technology that is ideal for on-site device connections and used for drive technology, photovoltaics, energy storage, and charging technologies. Such advancements in connection technologies are bolstering the Europe terminal blocks market growth.
On the contrary,stringent regulatory standards hurdles the growth of the Europe Terminal Block Market.
- Based on type, the market is categorized into barriers, sectional terminal blocks, PCB mount terminal blocks, power blocks, and others. The PCB mount terminal blocks segment held 34.20% market share in 2022, amassing US$ 593.10 million. It is projected to garner US$ 854.09 million by 2028 to expand at 6.3% CAGR during 2022–2028.
- Based on function type, the market is segmented into single-feed through, dual-level terminal block, and three-level terminal blocks. The single-feed through segment held 45.3%market share in 2022, amassing US$ 784.99 million. It is projected to garner US$ 996.21 million by 2028 to expand at 4.1% CAGR during 2022–2028.
- Based on connection technologies, the market is segmented into spring clamp terminal blocks, screw-type terminal blocks, insulation displacement connection, push-in type terminal blocks, and barriers. The screw-type terminal blocks segment held 32.0% market share in 2022, amassing US$ 554.31 million. It is projected to garner US$ 775.99 million by 2028 to expand at 5.8% CAGR during 2022–2028.
- Based on industry, the market is segmented into supermarkets and business equipment, hvac, power supplies, industry controls, instruments, telecom equipment, transportation, and others. The power supplies segment held 24.0% market share in 2022, amassing US$ 415.61 million. It is projected to garner US$ 595.28 million by 2028 to expand at 6.2% CAGR during 2022–2028.
- Based on device type, the market is segmented into ground circuit terminal, fuse terminal blocks, and others .The ground circuit terminal segment held 45.3% market share in 2022, amassing US$ 786.34 million. It is projected to garner US$ 1049.32 million by 2028 to expand at 4.9% CAGR during 2022–2028.
- Based on country, the Europe terminal block market has been categorized into the Germany, France, Italy, UK, Russia, and rest of Europe. Our regional analysis states that Germany captured 74.47% market share in 2022. It was assessed at US$ 568.98 million in 2022 and is likely to hit US$ 731.70 million by 2028, exhibiting a CAGR of 4.3% during the forecast period.
Key players dominating The Europe terminal block market are ABB Ltd, Eaton, WAGO, METZ CONNECT GmbH, Molecx, LLC(Koch industries,Inc.), Phoenix Contact, Rockwell Automation,Inc, WECO Electrical Connectors, Weidmuller Interface GmbH & Co.KG, and Wieland Electric GmbH among others.
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