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. 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 glob...