Global Power Strips Market Competition and Segment: Market Value is $6195.23 Million in 2024

Global Power Strips Market Overview

According to Global Market Monitor, the global power strip market size will reach $6195.23 million in 2024 with a CAGR of 5.28% from 2024 to 2029.

A power strip is a block of electrical sockets that attaches to the end of a flexible cable, allowing multiple electrical devices to be powered from a single electrical socket. Power strips are often used when many electrical devices are in proximity, such as for audio, video, computer systems, appliances, power tools, and lighting. Power strips often include a circuit breaker to interrupt the electric current in case of an overload or a short circuit. Some power strips protect against electrical power surges.

As far as the service life of the power strips is currently on the market, it is generally not very long, so the problem faced by the power strips industry is how to increase the service life of the power strips while ensuring safety.

Bull Electric Leads the Market.

The top three companies are Bull Electric, APC, and Siemens. Bull Group Co., Ltd. specializes in the development, production, and sales of civil electrical products with converters and wall switch sockets as the core, including converters (ie extension cord sockets, mobile sockets, etc.), walls. At present, the company has several manufacturing bases an offline physical marketing network with nearly 1 million outlets, and a professional online e-commerce. The excellent quality makes the sockets for the production or OEM of the bulls enter the mid-to-high-end market of more than 30 countries and regions such as the United States, Germany, France, Italy, Japan, etc. The independent brands of the Bulls have also been established in India, Southeast Asia, the Middle East, and other countries and regions sales agencies.

Market Trends

Key drivers of future consumer electronics growth include the growing demand for new technologies such as smartphones, computing devices, artificial intelligence, and voice recognition. Replacement cycles and falling prices for many electronic devices are expected to encourage continued consumption. With the advent of all the electronic devices used in homes and offices, the requirement for the number of electrical outlets to plug into them has also increased. Power strips enable a single outlet to handle multiple devices. In addition, surge protectors are increasingly used as they offer the advantages of power boards and protect devices plugged into them from surges with voltages higher than the device can withstand.

Market Challenges

With the improvement of people's living standards, people have higher and higher requirements for the safety factor of the power strips. Because of the endless safety accidents of the power strips, people are paying more and more attention to the safety aspects of the power strips, which is a huge challenge for the industry of the power strips.

Due to the constant occurrence of safety accidents with power strips, different output standards for been established between countries. As the standards increase, the production of power strips is also more challenging.

By Type	Smart Power Strips
	Common Power Strips
	Specialized Power Strips
	The common power strips segment contributes the largest market share.
By Application	Household
	Commercial
	Industrial
	The household segment occupies the biggest share.