A power strip, also known as a multi-position socket or strip, is a type of electrical device used to connect electrical and electronic devices, providing them with power.

Overview of Market Development and Analysis of Segmented Markets

As an indispensable electrical accessory in daily life, the market demand for power strips is huge, and the market size is also steadily growing. According to our research data, the total revenue of the global power strip market was $5886 million in 2023. In the coming years, with the continuous progress of technology and changes in people's lifestyles, market demand, and product innovation will continue to upgrade, and the power strip market will usher in greater development space. It is expected that the total revenue of the global power strip market will increase to $6589 million by 2025.

According to the complexity of their functions, power strips can be divided into three categories: ordinary power strips, intelligent power strips, and specialized power strips. Among them, ordinary power strips dominate the market. According to our data, the global revenue of the ordinary power strip segment in 2023 was 4243 million, with a revenue share of 72.09%.

According to different usage scenarios, power strips can be divided into household power strips, commercial power strips, and industrial power strips. Among them, household power strips occupy the largest market share.

Source: www.globalmarketmonitor.com

Analysis of Market Development in Major Regions and Countries

From a regional distribution perspective, the global power strip market is mainly concentrated in the United States, Europe, China, and other regions. Among them, China's power strip market is particularly large and has maintained a fast growth rate in recent years. According to the data, the revenue of China's power strip market was $2537 million in 2023, accounting for 43.10% of the global total revenue; The revenue from the US and European power strip markets was $655 million and $858 million, respectively, with revenue shares of 11.11% and 14.58%.

Global Power Strip Market Revenue and Share by Region/Country in 2023

Regions/Countries	Market Revenue (Million USD)	Share
US	655	11.11%
Europe	858	14.58%
China	2537	43.10%
Japan	136	2.31%
South Korea	60	1.01%
Others	1640	27.87%

Source: www.globalmarketmonitor.com

Market Development Trend Analysis

In the coming years, the global power strip market will continue to maintain stable growth. With the rise of smart homes, multifunctional smart power strips will become mainstream.

The improvement of environmental standards will drive the development of the power strip industry towards a more environmentally friendly direction, and the use of biodegradable materials will become a future trend.

With the maturity of wireless charging technology, traditional power strips may be impacted to some extent, but they will not be completely replaced in the short term.

Safety will be an important consideration for consumers when choosing a power strip, and power strips with multiple safety functions such as overload protection and short circuit protection will be more popular.

Personalized and customized power strips will become the new favorite of young consumers, with unique designs, personalized colors, and shapes favored by consumers.