The Europe Power Strip Market would witness market growth of 6% CAGR during the forecast period (2021-2027).
By utilizing power strips along with surge protectors, users can safeguard their costly equipment and other electronic items from voltage surges that are estimated to spur the demand for power strips globally. The requirement for power quality protection devices is gaining more importance because the usage of the electronic device is rising in the corporations, residential sector, and manufacturing facilities.
Power strips are portable and are used where numerous electronic devices are required to be plugged together into an outlet. These strips provide features like convenience and feasibility, which are not available in the traditional wall sockets at home or other places. Due to the numerous sockets available on power strips, it is widely used at various places.
The increasing demand for electronic devices across various nations of the region is among the key factors driving the growth of the regional power strip market. Additionally, people are getting more aware of the usage of sustainable electronic products that can help in conserving power, which would open new growth avenues for the key manufacturers of this region.
Moreover, there are many companies that are launching advanced and innovative power strips with more features, which would attract more customers to it. This will further contribute to the overall growth of the power strip market in this region. The high demand for technologically advanced electronics is creating lucrative opportunities for the key manufacturers of the market.
The Germany market dominated the Europe Power Strip Specialized Market by Country 2020, thereby, achieving a market value of $153.8 million by 2027. The UK market is exhibiting a CAGR of 7.1% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 8.9% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Power Strip Market Size will Hit $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.).
By Type
By Protection
By Application
By Country
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