North America Power Strip Market By Type (Common, Smart and Specialized), By Protection (Surge Protection, Fuse-based Protection and Others), By Application (Commercial, Household and Industrial), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The North America Power Strip Market would witness market growth of 6.3% CAGR during the forecast period (2021-2027).
A power strip, also known as extension board refers to lengthy electrical sockets with an attached flexible cable, which helps in plugging them into an electrical receptacle. It is widely utilized at the place where electrical devices in proximity require more sockets than the available ones. These power strips are very useful at the places like households, in particular living areas, industrial units, where there are fewer sockets available. There are numerous types of power strips available in the market, some have individual switches for each socket and some are compatible with advanced technologies like Alexa.
The high disposable income of the consumers is the fuel for the demand for power strip market. Due to the high disposable income, consumers spend more on adopting numerous advanced and innovative electronic devices like microwaves, laptops, desktops, and others. It will further create more demand for power strips in the regional market.
The presence of key companies in the power strip market is also supporting the regional growth of the power strip market. In addition, the boosting demand for protection systems in electronic devices is estimated to spur the demand for a power strip in this region. Consumers across this region are highly inclining towards the adoption of sustainable energy products, which would augment the demand for power strips that helps in saving energy.
The US market dominated the North America Fuse-based Protection Power Strip Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,149.9 million by 2027. The Canada market is experiencing a CAGR of 8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 7% during (2021 - 2027).
Based on Type, the market is segmented into Common, Smart and Specialized. Based on Protection, the market is segmented into Surge Protection, Fuse-based Protection and Others. Based on Application, the market is segmented into Commercial, Household and Industrial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Power Strip Market is Estimated to Reach USD 16.2 Billion by 2027 at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, General Electric (GE) Co., Siemens AG, Schneider Electric SE, Panasonic Corporation, Koninklijke Philips N.V., Legrand S.A. (Raritan, Inc.), CyberPower Systems (USA), Inc., Leviton Manufacturing Co., Inc. and Hon Hai Precision Industry Co., Ltd. (Belkin International, Inc.).
Scope of the Study
Market Segments Covered in the Report:
- Surge Protection
- Fuse-based Protection
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- General Electric (GE) Co.
- Siemens AG
- Schneider Electric SE
- Panasonic Corporation
- Koninklijke Philips N.V.
- Legrand S.A. (Raritan, Inc.)
- CyberPower Systems (USA), Inc.
- Leviton Manufacturing Co., Inc.
- Hon Hai Precision Industry Co., Ltd. (Belkin International, Inc.)
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