The global Power Strip market size is projected to grow from USD 11.9 billion in 2024 to USD 16.7 billion by 2030

Power Strip Market Summary

A Power Strip is an electrical device consisting of a cord with a plug on one end and multiple sockets on the other end, allowing multiple electrical devices to be powered from a single outlet.

According to the new market research report "Global Power Strip Market Report 2024-2030", published by GIResearch, the global Power Strip market size is projected to grow from USD 11.9 billion in 2024 to USD 16.7 billion by 2030, at a CAGR of 5.8% during the forecast period.

• PowerStrip

Source: GlobalInfoResearch, “Global Power Strip Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030”

• Global Power Strip MarketSize(US$ Million), 2019-2030

Source: GlobalInfoResearch, “Global Power Strip Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030”(published in 2024). If you need the latest data, plaese contact GIResearch.

• Global Power Strip Top11Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)

Source: GlobalInfoResearch, “Global Power Strip Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030”(published in 2024). If you need the latest data, plaese contact GIResearch.

This report profiles key players of Power Strip such as Siemens, GE, Panasonic.

In 2023, the global top five Power Strip players account for 75% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Power Strip.

Market Drivers:

The increasing abundance and popularity of home appliances drives the growth in demand in the converter industry. The growth momentum of the industry is mainly due to the increase in the per capita expenditure level of domestic households, the continued growth in the types and quantities of household appliances, and the demand for replacement and upgrades arising from new and diversified demands for the quality/form of socket products, etc., thus the demand for converters continues to rise.

Restraint:

Converters are relatively durable goods, with a long replacement cycle and weak update demand. The replacement demand is mainly catalyzed by supply-side product innovation and upgrades.

Opportunity:

The driving factors on the demand side, judging from the growth of electricity consumption in the whole society and the continuous growth of household appliances ownership in the past few years, the increasing abundance of household electrical products such as large appliances and small household appliances has promoted the growth of the demand for corresponding power connection products.

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