Global Power Strips Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Power Strips Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast 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 provide protection against electrical power surges.

Market Overview:

The latest research study on the global Power Strips market finds that the global Power Strips market reached a value of USD 5608.63 million in 2022. It’s expected that the market will achieve USD 7588.84 million by 2028, exhibiting a CAGR of 5.17% during the forecast period.

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.
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.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Bull Electric, APC and Siemens with the revenue market share of 15.40%, 8.27% and 7.47% in 2018.
Founded in 1995, 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. Switch sockets, LED lighting, digital accessories and other power connections and power extension products, widely used in home, office and other power applications. At present, the company has a number of manufacturing bases in the east area of Guanhaiwei Industrial Park, the West Zone of Industrial Park, Guyao, Longshan, etc., with more than 10,000 employees, an offline physical marketing network with nearly 1 million outlets and a professional online e-commerce. Marketing network, as of the end of 2018, the company obtained a total of 703 patents. The converter has always been the pillar business of the company. Since its establishment in 1995, the company has specialized in technology research and development in the field of converters. At present, in the field of converters, the company has obtained more than 300 national patents, equipped with 131 sets of top-level instruments and equipment, and has international level development software. The excellent quality makes the sockets for the production or OEM of the bulls enter the mid-to-highend 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 agency.

Royal Philips is a leading health technology company dedicated to improving people's health and improving medical outcomes throughout the entire health care process from healthy lifestyle and disease prevention to diagnosis, treatment and home care. With advanced technology, extensive clinical experience and deep consumer insight, Philips will continue to introduce integrated and innovative solutions. The company is currently a leader in diagnostic imaging, image guided therapy, patient monitoring, health information, and consumer health and home care. Headquartered in the Netherlands, Philips' health technology business generated sales of 17.8 billion euros in 2017. It has approximately 74,000 employees worldwide and sells and services in more than 100 countries around the world.

Segmentation Overview:

Among different product types, Common Power Strips segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Household segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Power Strips market covered in Chapter 3:

Monster
Huntkey
Siemens
Tripp Lite
Prime
CyberPower
Leviton
TrickleStar
GE
Bull Electric
APC
Belkin
Philips
Panamax
Delixi Electric
Legrand
Fellowes
Bestek

In Chapter 4 and Chapter 14.2, on the basis of types, the Power Strips market from 2018 to 2029 is primarily split into:

Smart Power Strips
Common Power Strips
Specialized Power Strips

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Power Strips market from 2018 to 2029 covers:

Household
Commercial
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)