Global Power Strip Market to reach USD 14.69 Billion by 2027.Global Power Strip Market is valued approximately at USD 10.1 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2021-2027. A power strip is used to plug in multiple devices into a single wall outlet. It is specifically designed to withstand a power surge and keep electronic devices safe. The global Power Strip market is being driven by increasing demand for stable power supply and increase in consumer spending on electronic items. Furthermore, the rise in online sales and the increasing usage of multiple devices at home and growth in industrialization will provide new opportunities for the global Power Strip industry. For intance, according to Statista, , in year 2017, the global consumer spending on smart homes stood at USD 74 billion which increased to USD 96 billion in year 2019; the figure is expected to reach USD 173 billion by year 2025. As a result, increase in consumer spending on smart home electronics products will necessitate the use of more power strips, thus fueling the market in the future. However, rigorous regulations regarding quality standards may impede market growth over the forecast period of 2021-2027.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of global Power Strip Market. The improved standard of living and surge in the adoption of smart electronics makes the Asia Pacific the leading region across the world in terms of market share. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 due to the presence of key market players in the region.
Major market player included in this report are:
General Electric
Belkin
Leviton
Schneider
Legrand
Philips
Siemens
ABB
Panasonic
Cyberpower
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Smart Power Strip
Common Power Strip
Specialized Power Strip
By Protection:
Surge Protection
Fuse-based Protection
Others
By Application:
Household
Commercial
Industrial


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Power Strip Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors