The global power strip market size was valued at USD 12.69 billion in 2024 and is expected to hit around USD 22.30 billion by 2034, growing at a CAGR of 5.80% from 2025 to 2034.
The global power strip market is projected to grow from USD 12.69 billion in 2024 to approximately USD 22.30 billion by 2034, reflecting a compound annual growth rate (CAGR) of 5.80% during this period. This growth is driven by the increasing adoption of smart electronic devices, rising demand for stable power supply solutions, workplace digitization, and advancements in power strip technologies.
In 2024, North America led the market with a 35% share, while the Asia Pacific region is expected to experience a CAGR of 7.3% during the forecast period. Among product types, common power strips accounted for 58% of the market in 2024, whereas smart power strips are anticipated to grow at a CAGR of 6.3%. The surge protection segment dominated in 2024, reflecting the increasing need for devices that protect electronics from voltage spikes.
Power Strip Market Key Takeaways
- North America led the global market with the largest market share of 35% in 2024.
- Asia Pacific is expected to expand at a CAGR of 7.3% during the forecast period.
- By type, the common power strips segment held the biggest market share of 58% in 2024.
- By type, the smart power strips segment is projected to grow at a notable CAGR of 6.3% during the projection period.
- By protection, the surge protection segment led the market in 2024.
- By protection, the fuse-based protection segment is expected to witness notable growth in the coming years.
- By application, the commercial segment contributed the highest market share of 53% in 2024.
- By application, the household segment is likely to grow at a significant rate over the forecast period.
Impacts of Artificial Intelligence on Power Strip Market
Artificial intelligence (AI) is significantly influencing the power strip market through the development of smart power strips and the increasing energy demands associated with AI technologies.
Smart Power Strips with AI Integration
Manufacturers are incorporating AI into power strips to create smart devices capable of real-time energy monitoring and management. These AI-enhanced power strips can analyze usage patterns, identify inefficiencies, and automatically adjust power distribution to optimize energy consumption. Features such as remote control via smartphone apps, voice activation, and integration with other smart home systems are becoming standard, offering users enhanced convenience and control over their electrical devices.
Increased Energy Demand from AI Data Centres
The rapid expansion of AI applications has led to a substantial increase in energy consumption, particularly from data centre’s that support AI operations. Goldman Sachs Research forecasts a 165% increase in data center power demand by 2030, driven by the intensive computational requirements of AI workloads. This surge in energy demand underscores the need for efficient power management solutions, including advanced power strips capable of handling higher loads and providing surge protection to safeguard sensitive equipment.
Market Implications
As AI continues to permeate various sectors, the demand for intelligent power management solutions is expected to grow. Consumers and businesses alike are seeking ways to reduce energy costs and minimize environmental impact, positioning AI-integrated power strips as a valuable component in modern energy management strategies.
Regional Outlook of Power Strip Market
The global power strip market exhibits distinct regional dynamics:
North America: In 2024, North America led the market with a 34.3% revenue share. This dominance is attributed to the widespread adoption of electronic devices across residential, commercial, and industrial sectors. The region’s tech-savvy population and the proliferation of home offices due to remote work trends have heightened the demand for power strips to accommodate multiple devices.
Asia-Pacific: The Asia-Pacific region is anticipated to experience the highest growth, with a projected compound annual growth rate (CAGR) of 7.1% over the forecast period. China’s significant contribution underscores the region’s expansion. Factors such as increasing urbanization, rising disposable incomes, and a growing consumer electronics market drive this growth. Additionally, the adoption of smart home technologies and the expansion of commercial infrastructures contribute to the escalating demand for power strips.
Europe: Europe maintains a substantial market share, driven by the region’s emphasis on energy efficiency and the widespread use of electronic appliances. The growing trend of smart homes and stringent regulations regarding electrical safety standards bolster the demand for advanced power strips with surge protection and energy-saving features.
Latin America and Middle East & Africa: These regions are witnessing gradual growth in the power strip market. Factors such as infrastructural development, increasing electrification, and the rising adoption of electronic devices contribute to the market’s expansion. However, economic fluctuations and limited consumer awareness about advanced power strip functionalities may pose challenges to rapid growth.
Overall, the global power strip market is poised for steady growth, with regional variations influenced by technological adoption rates, economic conditions, and consumer preferences.
Power Strip Market Report Coverage
| Report Coverage | Details |
| Market Size in 2025 | USD 757.58 Billion |
| Market Size by 2034 | USD 3,680.47 Billion |
| Growth Rate from 2024 to 2034 | CAGR of 19.20% |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
| Segments Covered | Technology, Solution, End Use, and Regions |
| Regions Covered | North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
Market Dynamics of Power Strip Market
Drivers
Increasing Reliance on Electronic Devices
The rising dependence on electronic devices is a key driver of the power strip market. Power strips, equipped with multiple electrical outlets, are widely used in homes, offices, and commercial spaces to accommodate various electronic appliances. The growing adoption of electronic devices such as personal computers, laptops, televisions, and smart home assistants has significantly increased the demand for power strips, particularly in emerging economies. These devices play a crucial role in providing safe and efficient power solutions for modern workspaces and households.
Restraint
Stringent Regulations
Regulatory constraints pose a significant challenge to market growth, as manufacturers must comply with varying safety standards across different regions. These stringent requirements, coupled with fluctuations in raw material costs, contribute to higher production expenses, limiting the adoption of power strips in certain markets.
Opportunities
Emphasis on Energy Efficiency
The increasing focus on energy efficiency presents lucrative opportunities in the power strip market. Power strips equipped with energy-saving features help reduce standby power consumption and optimize energy use. Manufacturers are prioritizing the development of advanced models with features such as surge protection, automatic shut-off, remote operation, and voice control compatibility. The demand for smart power strips, which enhance convenience and efficiency, is expected to rise due to the growing adoption of home automation systems and IoT-enabled devices.
By Type
Common power strips held the largest market share in 2024 due to their widespread use in residential, commercial, and industrial applications. These power strips are valued for their affordability and compatibility with multiple devices.
The smart power strips segment is projected to experience the fastest growth, driven by advancements in technology. These power strips automatically cut power to idle devices, reducing energy consumption and offering enhanced functionality through features like energy monitoring and remote access. The rise of smart homes and connected devices further fuels this segment’s growth.
By Protection Type
Surge protection power strips dominated the market in 2024, as they safeguard electronic devices against voltage fluctuations, extend their lifespan, and prevent potential electrical damage. The increasing emphasis on protecting expensive electronic equipment from power surges has boosted demand for these power strips.
Fuse-based protection power strips are expected to witness significant growth, particularly in industrial and high-risk environments where stable power distribution and compliance with stringent electrical safety standards are essential.
By Application
The commercial segment accounted for the largest market share in 2024, driven by the extensive use of power strips in offices, retail spaces, educational institutions, and data centers. Commercial-grade power strips are designed to withstand demanding environments, offering features such as multiple specialty outlets, USB ports, and surge protection.
The household segment is expected to grow considerably, fueled by the increasing adoption of smart home technologies and the growing number of electronic devices in residential settings. Compact and multifunctional power strips tailored for modern households are gaining traction in the market.
Power Strip Market Companies
- General Electric Company
- Siemens
- ABB
- Panasonic corporation
- Belkin
- Leviton Manufacturing Co., Inc.
- Schneider Electric
- Legrand
Recent Developments in Power Strip Market
March 2025: Anker introduced a new USB Power Strip (12-in-1, 20W) for European markets. The tower-shaped model includes AC outlets, USB-C and USB-A ports, a built-in power switch, and surge protection.
January 2025: Portronics launched the Power Plate 23 and Power Plate 22 in India, featuring versatile power solutions for safe and efficient device charging.
December 2024: TESSAN unveiled the TESSAN Tower Power Strip, designed to cater to evolving power demands in both residential and work environments, combining innovation and safety.
Segments Covered in the Report
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
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
