Power Strip Market Major Drivers And Trends Report 2028

Power Strip Industry Overview

The global power strip market size is expected to reach USD 15.7 billion by 2028, expanding at a CAGR of 5.7% from 2021 to 2028, according to a new report by Grand View Research, Inc. With the rise in disposable income, there has been a surge in the demand for electrical equipment with advanced technology, which is the major factor driving the market growth. The need for power quality protection equipment is becoming essential as the use of electronic equipment is increasing in the residential sector, corporations, and manufacturing facilities.

U.S. power strip market size, by type, 2018 - 2028 (USD Billion)

Power Strip Market Segmentation

Grand View Research has segmented the global power strip market based on type, protection, application, and region:

Based on the Type Insights, the market is segmented into Smart Power Strip, Common Power Strip, and Specialized Power Strip.

  • The common power strip segment dominated the power strip market in 2020 and accounted for more than 57.0% share of the global revenue. The increasing number of connected televisions, lights, and computers, among other electronic products, is prompting customers to adopt power strips to provide them with extra outlets to connect multiple devices simultaneously.
  • The smart power strip segment is anticipated to expand at the highest growth rate over the forecast period. Smart power strips are smart alternatives as they can detect standby mode devices and cut the power off, whereas traditional power strips continuously consume electricity once the devices are plugged in. Several organizations are adopting smart power strips to protect their devices from sudden surges in power.

Based on the Protection Insights, the market is segmented into Surge Protection, Fuse-based Protection, and Others.

  • The surge protection segment dominated the market in 2020 and accounted for more than 60.0% share of the global revenue. It is expected to expand at the highest growth rate over the forecast period. The major cause of equipment failure is voltage surges, which are often caused due to lightning strikes, electrical accidents, circuit-breaker tripping, and turning nearby heavy-load machines on/off. Surges can lead to the destruction of electronic components.
  • Belkin’s Power Strip Surge Protector is a reputable power strip with a surge protector. The power strip has a 3,940-Joule energy rating providing a reliable power extension cord to protect broadband modems, printers, and other systems. It secures the devices from short circuits, lightning strikes, overload, power spikes, and fluctuations.

Based on the Application Insights, the market is segmented into Household, Commercial and Industrial.

  • The commercial segment dominated the market in 2020 and accounted for more than 50.0% share of the global revenue. Commercial-grade power strips have become important for all commercial applications and also several residential applications. Outdoor or commercial equipment requires a power strip that is temperature-resistant, weather-resistant, and offers surge protection to prevent the devices from the risk of damage. Power strips with multiple specialty outlets, such as USB outlets and modem outlets, are usually used in corporate offices for a variety of devices. These power strips are equipped with built-in surge protection to keep the office equipment safe.

Power Strip Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

Key Companies Profile & Market Share Insights

The competitive landscape of the market is highly fragmented. The market players are focused on enhancing their product offerings to better cater to the changing needs of users and stay competitive.

Some of the prominent players operating in the global power strip market include,

  • General Electric
  • Belkin International, Inc.
  • Leviton Manufacturing Co., Inc
  • Schneider Electric SE
  • Legrand SA
  • Koninklijke Philips N.V.
  • Siemens AG
  • ABB Ltd
  • Panasonic Corporation
  • Cyber Power Systems, Inc.
  • Delixi Electric Ltd.
  • Falconer Electronics

Order a free sample PDF of the Power Strip Market Intelligence Study, published by Grand View Research.  

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