Report : South America Terminal Blocks Market Forecast to 2028 – COVID-19 Impact and 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 2.7% CAGR, the South America Terminal Block Market is speculated to be worth US$ 150.35 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the South America terminal block market was valued at US$ 128.12 million in 2022 and is expected to reach US$ 150.35 million by 2028, registering an annual growth rate of 2.7% from 2022 to 2028.Rising popularity of micro-miniaturized terminal blocks and rapid industrialization in several countries the critical factors attributed to the market expansion.
Miniature and micro-terminal blocks support the trend of miniaturization in machine building, and switchgear and control cabinet manufacturing. Irrespective of their sizes, compact terminal blocks have a function shaft that simplifies the distribution in the tightest of spaces. This makes the terminal blocks ideal for mounting in small control boxes, operator panels, connection boxes, etc. These terminal blocks are ideally suited for a modular and compact system design. The MP 1.5 micro terminal blocks with Push-in connection technology by Phoenix Contact can be directly mounted with securing pins or a screw-in mounting mechanism with self-locking flanges, and it is well suited for high-vibration applications. Advancements in technologies supporting terminal block miniaturization are an ongoing trend propelling the demand for micro-terminal blocks. In November 2021, TE Connectivity (TE) had introduced the new SNACompact terminal blocks range within the ENTRELEC brand. These blocks feature a compact design that delivers powerful performance, improving the panel building process for installers.
On the contrary, stringent regulatory standards hurdles the growth of South America terminal block market.
- Based on type, the South America terminal block market is segmented into barriers, sectional terminal blocks, pcb mount terminal blocks, power blocks, and others. The pcb mount terminal blocks segment held 32.9% market share in 2022, amassing US$ 42.19 million. It is projected to garner US$ 51.62 million by 2028 to expand at 3.4% CAGR during 2022–2028.
- Based on function type, the South America terminal block market is segmented into single-feed through, dual-level terminal block, and three-level terminal blocks. The single-feed through segment held 43.0% market share in 2022, amassing US$ 55.08 million. It is projected to garner US$ 61.57 million by 2028 to expand at 1.9% CAGR during 2022–2028.
- Based on connection technologies, the South America terminal block market is segmented 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 33.6% market share in 2022, amassing US$ 43.06 million. It is projected to garner US$ 51.64 million by 2028 to expand at 3.1% CAGR during 2022–2028.
- Based on industry, the South America terminal block market is segmented business equipment, hvac, power supplies, industry controls, instruments, telecom equipment, transportation, and others.The power supplies segment held 21.8% market share in 2022, amassing US$ 27.92 million. It is projected to garner US$ 33.84 million by 2028 to expand at 3.3% CAGR during 2022–2028.
- Based on device type, the South America terminal block market is segmented ground circuit terminal, fuse terminal blocks, and others. The ground circuit terminal segment held 46.5% market share in 2022, amassing US$ 59.59 million. It is projected to garner US$ 68.68 million by 2028 to expand at 2.4% CAGR during 2022–2028.
- Based on country, the South America terminal block market has been categorized into Brazil, Argentina, and rest of SAM. Our regional analysis states that Brazil captured 76.2% market share in 2022. It was assessed at US$ 97.61 million in 2022 and is likely to hit US$ 113.45 million by 2028, exhibiting a CAGR of 2.5% during the forecast period.
Key players dominating the South America terminal block market are ABB Ltd, Eaton, WAGO, 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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