Ferrules install onto the ends of stripped wires to contain loose strands, increase the wire's durability, and enable them to easily plug into terminal blocks and other receptacle-type devices. Also known as cord end terminals, they're used to transfer or ground power from wires to connection points in applications like appliances, electronics, and automotive wiring. They consist of a barrel-shaped body where the stripped conductors slide into and are compressed with a crimping tool to create a permanent connection to the wire.