Wire Terminals Market Report

Market Insights

The Wire Terminals market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around 4.0% during the forecast period.

Figure: Wire Terminals Market Size, 2020-2026 (USD Million)

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What are wire terminals?

Wire terminals are defined as passive conductors that are used to facilitate a connection that is not soldered. Terminals are devices that are designed to terminate a conductor that is to be affixed to a post or stud to establish an electrical connection. Wire terminals can be categorized as push-on terminals, butt splice connectors, ring terminals, fork terminals, and bullet terminals.

Key Players

Key players operating in the Wire Terminals market are-

• TE Connectivity (Switzerland)
• Amphenol Corporation (US)
• Molex LLC (US)
• Delphi Connection System (India)
• Foxconn Technology Group (Taiwan)
• Yazaki Corporation (Japan)
• Japan Aviation Electronics Industry, Ltd. (Japan)
• JST Mfg. Co., Ltd. (Japan)
• Hirose Electric Co., Ltd. (Japan)
• Sumitomo Wiring Systems, Ltd. (Japan).

Market Dynamics

The growth of the wire terminals market is primarily driven by increasing product use in the aerospace and electrical & electronics industries. The growing aerospace & defense industry with increasing demand for aircraft across geographies is likely to drive the growth of the wire terminals market at a significant rate during the review period. In addition to this, increasing demand for advanced wire terminals is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Segment Analysis

Application Trends

By application, the wire terminals market has been bifurcated into aerospace, electronics, and others. Under these, the electronics segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to increasing demand for consumer electronics across geographies.

Regional Trends

By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established aerospace & defense and electrical & electronics industries coupled with the presence of key market players such as Amphenol Corporation (US) and Molex LLC (US). The market growth in the Asia-Pacific region is expected to be driven by the increasing adoption of wire terminals in the end-use industries in developing countries particularly China and India.

COVID-19 Impact on Wire Terminals Market

The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the wire terminals market negatively as the imposition of complete lockdown and restrictions on trade affected the product supply in the end-use industries for a short period.

Critical Questions Answered in the Report

• What are the key trends in the Wire Terminals market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Wire Terminals market?
• What are the key strategies adopted by the major vendors to lead in the Wire Terminals market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the wire terminals market hopes to have the greatest opportunity to convert-

• Wire terminals distributors
• Wire terminals suppliers
• Wire terminals manufacturers
• Logistics organizations
• Government bodies

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