The global power strip market size was USD 11.35 Billion in 2022 and is expected to register a revenue CAGR of 6% over the forecast period, according to the latest report by Reports and Data.
The power strip market is driven by several factors, including:
- Increasing Use of Electronic Devices: With the growing use of electronic devices such as computers, televisions, and smartphones, the demand for power strips has increased significantly. Power strips provide additional electrical outlets, enabling users to connect multiple devices to a single power source.
- Surge Protection: The need for surge protection to safeguard electronic devices from voltage spikes and power surges is another key driver of the power strip market. Power strips with surge protection are essential for protecting expensive electronic equipment from damage.
- Energy Efficiency: The increasing focus on energy efficiency has also boosted the demand for power strips. Many power strips are designed to reduce energy consumption by cutting off power to devices that are not in use.
- Convenience: The convenience offered by power strips, such as the ability to turn off multiple devices with a single switch, has also driven the market. Power strips with USB ports and wireless charging capabilities have also become popular, further enhancing their convenience.
- Safety: The safety offered by power strips, such as protection from electrical shock and fire, has also contributed to their popularity. Power strips with childproof outlets and built-in circuit breakers are in high demand.
Some of the prominent players profiled in the global power strip market include Belkin International, Inc., APC by Schneider Electric, TrickleStar, CyberPower Systems, Inc., Tripp Lite, Legrand, Huntleys Enterprise Group, Anker Innovations, Allocacoc BV, and Kensington Computer Products Group.
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The power strip market refers to the market for devices that provide additional electrical outlets and surge protection. Power strips are commonly used to connect multiple electronic devices to a single power source, making them a popular solution for homes, offices, and other settings.
The market includes a range of power strip types, including basic power strips, surge-protected power strips, smart power strips, and USB power strips. Basic power strips offer additional outlets without surge protection, while surge-protected power strips protect electronic devices from voltage spikes and power surges. Smart power strips provide energy management features, such as the ability to automatically turn off devices that are not in use, while USB power strips include USB charging ports.
The power strip market is driven by several factors, including the increasing use of electronic devices, the need for surge protection, energy efficiency, convenience, and safety. The market is segmented by type, application, and distribution channel, with the residential sector currently dominating the market.
Asia Pacific is emerging as a lucrative market for power strips, with rising demand for wireless charging and multi-outlet power strips driving innovation. Key players in the power strip market include Belkin International, Inc., Tripp Lite, Inc., and Accell Group, among others. Overall, the power strip market is expected to continue to grow in the coming years, driven by the increasing use of electronic devices and the need for surge protection.
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The power strip market consists of several companies operating in different segments. Here are some prominent companies and segments in the power strip market:
- Legrand SA: Legrand SA is a global leader in electrical and digital building infrastructure solutions. They offer a wide range of power strips catering to residential, commercial, and industrial applications. Their product segments include surge-protected power strips, USB power strips, smart power strips, and specialty power strips for specific industries or applications.
- Belkin International, Inc.: Belkin International is a renowned manufacturer of consumer electronics and connectivity solutions. They offer a diverse range of power strips and surge protectors, including models with USB ports, wall-mountable power strips, and power strips with advanced surge protection features. Belkin focuses on providing innovative and user-friendly power strip solutions for home and office use.
- Tripp Lite: Tripp Lite is a leading manufacturer of power protection and connectivity solutions. They offer a wide range of power strips and surge protectors for various applications, including data centers, networking, industrial environments, and home offices. Tripp Lite’s power strip segments include rack-mounted power strips, medical-grade power strips, and power strips with features like remote control and energy monitoring.
- Eaton Corporation: Eaton Corporation is a multinational power management company that provides a broad portfolio of electrical products and solutions. Their power strip offerings encompass residential, commercial, and industrial applications. Eaton’s power strip segments include basic power strips, surge-protected power strips, and specialty power strips for specific industries such as healthcare and data centers.
- APC by Schneider Electric: APC by Schneider Electric is a renowned brand in power protection and management solutions. They offer a comprehensive range of power strips and surge protectors, catering to home, office, and data center environments. APC’s power strip segments include basic power strips, surge-protected power strips, rack-mounted power strips, and smart power strips with energy monitoring capabilities.
- CyberPower Systems: CyberPower Systems specializes in power protection and management solutions for residential and commercial applications. They offer a variety of power strips and surge protectors with features like USB charging ports, energy-saving outlets, and surge protection for sensitive electronics.
- Fellowes Brands: Fellowes Brands is a global manufacturer of office products and solutions. They provide power strip solutions for home and office use, focusing on features such as surge protection, USB charging ports, and cable management. Fellowes offers power strip segments suitable for different work environments and connectivity needs.
These are just a few examples of companies and segments in the power strip market. The market is highly competitive, with various other manufacturers and segments offering different features and functionalities to cater to diverse customer requirements.
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