Power Strip Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2031F

The Power Strip Market was valued at USD 14.4 Billion in 2024, and is expected to reach USD 22.7 Billion by 2030, rising at a CAGR of 7.70%. The global power strip market is experiencing steady growth, driven by several key factors. The rapid proliferation of electronic devices such as smartphones, laptops, smart TVs, and home appliances has significantly increased the demand for reliable power distribution solutions.

Additionally, the widespread adoption of remote and hybrid work models has fueled the need for power strips in home-office setups. Rising awareness about electrical safety and surge protection is also a major driver, encouraging consumers and businesses to invest in power strips with features like surge protection, overload prevention, and fire-resistant materials. The growing popularity of smart homes is boosting demand for smart power strips equipped with Wi-Fi, voice assistant compatibility, and energy-monitoring capabilities.

These strips offer energy-saving benefits, making them attractive to environmentally conscious consumers. Furthermore, commercial and infrastructure expansion, especially in developing countries, is driving demand across offices, data centers, and industrial settings. Regulatory bodies are also enforcing stricter safety and performance standards, pushing manufacturers to innovate and ensure compliance. Overall, technological advancement, increasing safety concerns, and the push for energy efficiency are key factors propelling the global power strip market forward, with smart and energy-efficient models leading future growth opportunities.

Key Market Drivers

Rising Demand for Consumer Electronics and Smart Devices

The global surge in consumer electronics and smart device usage is a major driver for the power strip market. With households and businesses increasingly reliant on multiple electronic devices - such as smartphones, tablets, laptops, televisions, gaming consoles, and smart home appliances - the need for effective and centralized power distribution has grown significantly. A power strip offers multiple electrical sockets from a single plug, making it a convenient solution for densely wired environments like home offices, entertainment units, or workstations.

The COVID-19 pandemic further accelerated the adoption of remote working and e-learning, significantly boosting the number of electronic devices per household. As a result, home offices now require advanced power solutions to accommodate multiple devices while ensuring safety and energy efficiency. This has driven sales of power strips, particularly those equipped with surge protection and USB charging ports.

Moreover, as the global population becomes more digitally connected, regions like Asia-Pacific, Latin America, and the Middle East are witnessing rapid urbanization and digital penetration. This is boosting the sales of power strips in both residential and commercial segments. The demand is further supported by growing consumer awareness regarding fire hazards and electrical overloads, encouraging the adoption of certified and high-quality power strips with enhanced safety features. The global consumer electronics market is valued at over 1 trillion US dollars and continues to grow at an average rate of 6 to 8% annually.

More than 6 billion smartphone users were recorded worldwide as of 2024, with continued growth expected in emerging markets. The global smart home devices market is projected to surpass 200 billion US dollars by the end of this decade. Annual shipments of wearable devices have exceeded 500 million units globally. Smart TVs account for more than 80 percent of total television sales worldwide. The global tablet market has seen a steady annual growth rate of around 5%, driven by remote work and education trends

Key Market Challenges

Intense Price Competition and Market Saturation

One of the biggest challenges facing the global power strip market is intense price competition, especially in developing countries. The market has become highly saturated with numerous local and international players offering similar products, which has led to commoditization. Consumers often view power strips as low-value utility products rather than technology-based solutions, which puts downward pressure on pricing. As a result, manufacturers find it difficult to maintain profit margins, especially when producing basic models without advanced features.

This situation is exacerbated by the influx of low-cost products from countries such as China and India, where manufacturers can offer budget-friendly options due to economies of scale and lower production costs. While these products are attractive to price-sensitive consumers, they often compromise on quality, safety standards, and durability. This not only affects brand trust in the long term but also presents safety risks such as fire hazards or electrical failures.

Additionally, price-based competition reduces the incentive for innovation. Smaller players with limited R&D budgets often find it challenging to differentiate their products or invest in smart features, energy monitoring systems, or enhanced safety mechanisms. This stagnation in product development can hinder market growth, especially in regions where smart home adoption is rising.

To overcome this challenge, companies need to focus on brand differentiation through quality, certifications (e.g., UL, CE), innovative features, and customer service. Marketing strategies that highlight energy savings, child protection, surge resistance, and smart home integration can help reposition power strips as value-added products rather than low-end accessories. Still, maintaining a balance between affordability and innovation remains a persistent challenge for manufacturers across all regions.

Key Market Trends

Rising Adoption of Smart Power Strips with IoT Integration

A prominent trend transforming the global power strip market is the increasing adoption of smart power strips integrated with IoT and energy management technologies. These advanced strips go beyond traditional plug-and-play functionality by offering remote control, voice command compatibility (via Alexa, Google Assistant, or Siri), and programmable settings through mobile apps. Users can schedule power on/off times, monitor energy usage in real-time, and reduce standby power consumption - leading to significant energy savings.

As smart homes and connected environments become more mainstream, smart power strips are emerging as an essential part of energy-conscious infrastructure. Consumers are increasingly aware of “phantom loads,” where appliances continue to draw power even when turned off. Smart strips address this issue by automatically cutting off power to idle devices, helping households reduce electricity bills by up to 10-15%.

The growth of smart cities and green building initiatives is also contributing to this trend. Governments and corporations are adopting energy-efficient solutions to meet sustainability goals, with smart power strips playing a supporting role in reducing carbon footprints. Commercial establishments, such as offices and data centers, are adopting these solutions to manage device clusters more efficiently and minimize power waste.

Furthermore, advancements in wireless technology, cloud platforms, and mobile integration are making smart strips more user-friendly and affordable. Many smart strips now come with USB ports, surge protection, and app-controlled switches, offering multi-functional utility in a single product. Major brands like Belkin, TP-Link, and APC are actively investing in smart strip innovations, while new entrants are offering low-cost alternatives in emerging markets. Overall, this trend reflects a shift from basic utility to intelligent energy management - paving the way for wider adoption of smart strips in both residential and commercial settings.

Key Market Players

• 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.

Report Scope:

In this report, the Global Power Strip Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Power Strip Market, By Type:

• Common Power Strip
• Smart Power Strip
• Specialized Power Strip

Power Strip Market, By Application:

• Household
• Commercial
• Industrial

Power Strip Market, By Protection Type:

• Surge Protection
• Fuse Based Protection

Power Strip Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• South America
• Brazil
• Colombia
• Argentina
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Power Strip Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.