Power Strip Market is expected to grow at a CAGR of 7.7% through 2030F
The global Power Strip Market is
expected to be led by North America, driven by Rise of Smart &
Energy-Efficient Strips and Infrastructure & Commercial Expansion during the
forecast period 2026-2030F
According to TechSci Research
report, “Power Strip Market
- Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F, The Global Power Strip Market was valued at USD 14.4
billion in 2024 and is expected to reach USD 22.7 billion by 2030 with a CAGR
of 7.7% through 2030. One significant
factor is the proliferation of consumer electronics and portable devices, such
as smartphones, tablets, laptops, gaming consoles, and kitchen appliances. As
the number of plug-in devices continues to rise in homes, offices, and
industrial setups, the need for multi-outlet solutions like power strips
becomes essential. The increasing trend of remote work and online learning has
further amplified the demand for reliable power access in home environments.
Another
critical driver is the rapid expansion of data centers and IT infrastructure
across the globe. With growing digitalization, cloud computing, and big data
analytics, businesses are investing heavily in server rooms and high-density
computing environments, where efficient power distribution is a top priority.
This, in turn, boosts the demand for advanced and smart power strips with surge
protection and load balancing capabilities. Furthermore, the rise in disposable
incomes and improved living standards, particularly in emerging economies, is
driving the replacement of older electrical systems with safer, modern
alternatives. The integration of USB ports, wireless charging, and sleek
designs also adds to the appeal, making power strips a necessary utility in
today’s digital lifestyle.
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Based on Type, Smart Power Strip segment
dominated the Power Strip Market in 2024 and maintain its leadership throughout
the forecast period, driven by the rising demand for intelligent and
energy-efficient electrical solutions across both residential and commercial
sectors. Unlike traditional power strips, smart power strips are equipped with
advanced features such as remote control via mobile apps, voice assistant
compatibility, scheduled on/off functions, individual outlet control, energy
monitoring, and surge protection. These functionalities make them highly
appealing in an increasingly connected world where consumers seek convenience,
automation, and energy savings.
One of the key drivers for this
segment's growth is the widespread adoption of smart home ecosystems. Consumers
are integrating smart plugs, lights, appliances, and security systems into
centralized platforms, and smart power strips serve as an essential tool for
managing multiple devices efficiently. Compatibility with major smart home
systems like Amazon Alexa, Google Assistant, and Apple HomeKit enhances their
appeal. With the global shift towards sustainable energy usage, the ability of
smart power strips to reduce phantom power consumption—by automatically turning
off idle devices—further boosts their market acceptance.
Additionally, the commercial sector has
shown significant interest in smart power strips due to their energy monitoring
capabilities, which help businesses track power usage, reduce electricity
costs, and ensure equipment safety. Office spaces, data centers, and co-working
environments often use these smart units to handle complex power requirements
with added layers of control and protection. Their use is also expanding in
educational institutions and healthcare facilities, where safety, reliability,
and energy tracking are critical.
Geographically, developed regions such
as North America and Europe have been early adopters, thanks to high technology
penetration and consumer awareness. However, emerging economies in Asia-Pacific
and Latin America are catching up rapidly due to growing urbanization, rising
disposable incomes, and increasing digital literacy. Governments and utility
providers in these regions are also promoting energy-efficient technologies,
indirectly encouraging the adoption of smart power strips.
The segment’s growth is further
supported by continuous innovations from leading manufacturers who are focusing
on product differentiation through sleek design, smart features, and enhanced
safety mechanisms. Companies are also integrating USB ports, wireless charging
pads, and overload protection to make their products more multifunctional and
competitive.
The smart power strip
segment is leading the global market due to its ability to meet the evolving
demands of modern consumers and businesses. With the ongoing expansion of smart
technologies and rising awareness about energy efficiency, this segment is
expected to maintain its dominant position in the coming years.
Asia Pacific is emerging as the
fastest-growing region for the Power Strip Market, driven by rapid
urbanization, expanding middle-class population, and increasing adoption of
electronic devices across residential and commercial spaces. Countries such as
China, India, Japan, and South Korea are witnessing a surge in demand for power
distribution solutions as consumers rely more heavily on gadgets like
smartphones, laptops, televisions, and kitchen appliances. This shift is
fueling the need for reliable and multi-functional power strips that can
support multiple devices efficiently and safely.
The region’s rising inclination toward
smart homes and digital lifestyles has further propelled the demand for
advanced power strips, especially those with surge protection and smart control
features. Additionally, the growing IT and industrial sectors in countries like
India and China are boosting the need for power management solutions in
commercial environments such as offices, data centers, and manufacturing units.
Government initiatives promoting
electrification, digital infrastructure, and energy efficiency are also
contributing to market expansion. For example, India’s smart city projects and
China’s push for smart manufacturing are creating favorable conditions for
increased use of modern power strips.
Moreover, local manufacturers are
increasingly entering the market with affordable and technologically advanced
products, making power strips more accessible to a broader consumer base. As
awareness about electrical safety and energy conservation grows, consumers are
shifting from traditional models to more feature-rich variants. Overall, Asia
Pacific's diverse and dynamic market landscape, combined with strong economic
growth and rising digital adoption, makes it the fastest-growing region in the
global power strip market.
Key market players in the Power Strip
Market are: -
- Belkin International, Inc.
- Schneider Electric SE
- ABB Ltd.
- CyberPower Systems, Inc.
- Legrand SA
- Tripp Lite (now part of Eaton
Corporation)
- APC by Schneider Electric
- Philips Electronics N.V.
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“The global power strip market presents
significant opportunities driven by the growing demand for smart and
energy-efficient electrical solutions. The increasing adoption of smart homes
and IoT-enabled devices is fueling the need for advanced power strips with
features like remote control, surge protection, and energy monitoring.
Expanding urbanization, especially in emerging economies, is boosting
residential and commercial electricity usage, creating further demand.
Additionally, rising awareness about electrical safety and energy conservation
is encouraging consumers to upgrade from conventional to modern power strips.
Innovations in design and functionality, along with supportive government
energy policies, offer strong growth potential for manufacturers worldwide.” said
Mr. Karan Chechi, Research Director of TechSci Research, a research-based global
management consulting firm.
“Power Strip Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By
Type (Common Power Strip, Smart Power Strip, Specialized Power Strip), By
Protection Type (Surge Protection, Fuse Based Protection), By Application
(Household, Commercial, Industrial), By Region, By Competition, 2020-2030F” has evaluated the future
growth potential of Power Strip Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Power Strip Market.
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