Power Strip Market Size to Reach USD 22.30 Bn by 2034

The global power strip market size was valued at USD 12.69 billion in 2024 and is expected to reach around USD 22.30 billion by 2034, growing at a CAGR of 5.80% from 2025 to 2034.

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Power Strip Market Key Points

• North America held the largest market share of 35% in the global market in 2024.

• Asia Pacific is projected to grow at a CAGR of 7.3% during the forecast period.

• The common power strips segment dominated the market by type, capturing 58% of the share in 2024.

• The smart power strips segment is anticipated to expand at a CAGR of 6.3% over the studied period.

• By protection, the surge protection segment led the market in 2024.

• The fuse-based protection segment is expected to experience significant growth in the coming years.

• The commercial segment accounted for the highest market share of 53% in 2024.

• The household segment is projected to witness notable expansion over the forecast period.

Impact of AI on the Power Strip Market

Enhancing Smart Power Strips with AI

AI is revolutionizing the power strip market by enabling smarter and more efficient energy management. AI-powered smart power strips can monitor electricity consumption in real time, identify energy-hungry devices, and automatically turn off unused appliances to prevent energy wastage. These AI-driven features help households and businesses reduce electricity costs while promoting sustainability. Additionally, AI-integrated power strips can learn user behavior, optimizing power distribution based on usage patterns and providing predictive maintenance to prevent overheating or electrical failures.

Improving Safety and Automation

AI is significantly enhancing the safety features of power strips by detecting electrical faults, voltage fluctuations, and potential fire hazards. Advanced AI-powered surge protectors can respond to sudden power surges instantly, minimizing the risk of damage to connected devices. Moreover, AI-driven automation allows users to remotely control and schedule power strip functions via mobile applications or voice assistants, improving convenience and security. In commercial and industrial settings, AI-enabled power strips support IoT integration, ensuring seamless energy management for large-scale operations while reducing operational costs.

Market Overview

The power strip market is experiencing steady growth due to the rising need for efficient power distribution and surge protection solutions. With increasing reliance on electronic devices in households, commercial spaces, and industries, the demand for power strips with advanced safety features and smart connectivity is on the rise. The integration of IoT and AI-powered smart power strips has further enhanced energy efficiency and user convenience.

Market Scope

Market Dynamics

Market Drivers

Key factors driving the power strip market include the growing use of electronic devices, increased awareness of energy conservation, and advancements in smart home technologies. Businesses and consumers are adopting smart power strips with surge protection and automation features to prevent energy wastage and protect their devices from electrical damage. The expansion of commercial infrastructure and the rising popularity of home automation are also contributing to market growth.

Market Opportunities

The shift toward sustainable energy solutions presents an opportunity for manufacturers to develop eco-friendly and energy-efficient power strips. The integration of AI and IoT in power strips allows for remote monitoring and automated control, providing convenience and efficiency. Additionally, emerging markets in Asia-Pacific and Latin America offer untapped potential for power strip adoption due to rapid urbanization and industrialization.

Market Challenges

Despite its growth, the power strip market faces challenges such as product standardization, counterfeit products, and fluctuating raw material costs. Additionally, consumer awareness regarding smart power strip functionalities remains low in certain regions, limiting adoption rates. The compatibility of smart power strips with different electrical systems and devices is another concern that manufacturers need to address.

Regional Insights

North America leads the power strip market, driven by high adoption rates of smart home technologies and energy-efficient devices. Asia-Pacific is anticipated to grow at the fastest rate due to increasing urbanization, industrial growth, and the rising middle-class population investing in consumer electronics. Europe is also witnessing steady growth, propelled by stringent energy regulations and the demand for sustainable power management solutions.

Recent Developments

• In March 2025, Anker launched the new USB Power Strip (12-in-1, 20W) for European markets. This tower-shaped model features a combination of AC outlets and USB-C and USB-A ports. It also has a built-in power switch, surge protection, and a range of other safety features.
• In January 2025, Portronics launched two new extension boards, the Power Plate 23 and Power Plate 22, in the Indian market. These power strips offer versatile features for safe and efficiently powering multiple devices simultaneously.
• In December 2024, TESSAN, a global technology leader in power management solutions, unveiled its new product, TESSAN Tower Power Strip, engineered to respond to modern dwelling and work environments’ changing power demands. TESSAN Tower Power Strip combines innovation and safety.

Power Strip Market Companies

• General Electric Company
• Siemens
• ABB
• Panasonic corporation
• Belkin
• Leviton Manufacturing Co., Inc.
• Schneider Electric
• Legrand
• Koninklijke Philips N.V.,
• Cyber Power Systems, Inc.
• Delixi Electric
• Falconer Electronics

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

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