DUBLIN--(BUSINESS WIRE)--The "Global Power Strip Market Size, Share & Trends Analysis Report by Type, by Protection (Surge Protection, Fuse-based Protection), by Application (Household, Commercial, Industrial), by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global power strip market size is expected to reach USD 15.7 billion by 2028, expanding at a CAGR of 5.7% from 2021 to 2028. With the rise in disposable income, there has been a surge in the demand for electrical equipment with advanced technology, which is the major factor driving the market growth. The need for power quality protection equipment is becoming essential as the use of electronic equipment is increasing in the residential sector, corporations, and manufacturing facilities.
The need for power protectors for individual equipment as well as the entire facility is increasing as surges and transient voltages impact profitability and productivity. In recent years, the market, once dominated by household appliances, has branched out into a massive range of different offerings. The demand for sophisticated and highly technological appliances and such as personal computers, LED televisions, printers, washing machines, microwaves, and industrial equipment is increasing rapidly.
The adoption of technologically advanced equipment such as laptops, LCDs, washing machines, and LED televisions in emerging countries is driving the demand for technologically advanced power strips. The COVID-19 pandemic is anticipated to have a positive impact on the market growth. The pandemic has led to lockdowns across the globe, impelling people to work from home, increasing the need to connect several devices at the same time.
Companies Mentioned
- General Electric
- Belkin
- Leviton
- Schneider
- Legrand
- Philips
- Siemens
- ABB
- Panasonic
- Cyberpower
- Delixi Electric
- Falconer Electronics
Power Strip Market Report Highlights
- In terms of type, the common power strip segment dominated the market in 2020 and is expected to retain its dominance over the forecast period
- In terms of protection type, the surge protection segment is expected to expand at a CAGR of 5.9% over the forecast period. The growing preference for smart power strips with surge protectors to protect smart and delicate appliances is expected to drive the segment growth
- In terms of application, the commercial segment dominated the market in 2020 and is expected to retain its dominance over the forecast period. With the growing need to reduce electricity wastage, commercial sites are adopting smart power strips to monitor appliances that are on standby mode and shut down the power, thereby reducing power usage
- The growth of sustainable development initiatives in emerging economies such as China and India is expected to create growth opportunities for the market players in the Asia Pacific region over the forecast period. Additionally, increased investment in high-quality and low-cost innovative products is also expected to propel market growth in the region
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends, and Scope
3.1 Market Introduction
3.2 Penetration and Growth Prospect Mapping
3.3 Power Strip Market - Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Increasing demand for sTable power supply
3.3.2 Market challenge analysis
3.3.2.1 Stringent regulations in different regions
3.3.3 Market opportunity analysis
3.3.3.1 Emerging technology in power strips
3.4 Power Strip Market - Porter's Five Forces Analysis
3.5 Power Strip Market - PESTEL Analysis
3.6 Power Strip Market - Covid-19 Impact
Chapter 4 Power Strip Market: Type Estimates & Trend Analysis
4.1 Type Movement Analysis & Market Share, 2020 & 2028
4.2 Smart Power Strip
4.2.1 smart power strip market, 2016 - 2028
4.3 Common Power Strip
4.3.1 Common Power Strip Market, 2016 - 2028
4.4 Specialized Power Strip
4.4.1 specialized power strip market, 2016 - 2028
Chapter 5 Power Strip Market: Protection Estimates and Trend Analysis
5.1 Power Strip Market Share By Protection, 2020
5.2 Surge Protection
5.2.1 surge protection power strip market, 2016 - 2028
5.3 Fuse-based Protection
5.3.1 fuse-based protection power strip market, 2016 - 2028
5.4 Others
5.4.1 other power strip market, 2016 - 2028
Chapter 6 Power Strip Market: Application Estimates and Trend Analysis
6.1 Power Strip Market Share By Application, 2020
6.2 Household
6.2.1 household power strip market, 2016 - 2028
6.3 Commercial
6.3.1 commercial power strip market, 2016 - 2028
6.4 Industrial
6.4.1 industrial power strip market, 2016 - 2028
Chapter 7 Power Strip Market: Regional Outlook
Chapter 8 Competitive Analysis
8.1 Company Categorization
8.2 Company Market Position Analysis
Chapter 9 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/lj3424
