The Global and United States Medical Grade Power Strip Market is valued at USD 11.28 billion in 2022 and is projected to reach a value of USD 17.58 billion in 2030 expanding at a CAGR of 5.7% over the forecast period of 2022-2030.
power strips for medical use with load monitoring By monitoring the load of linked devices on your behalf, InformTM technology does away with the necessity for human calculations. Line-of-sight LED turns on when the NFPA 99 load limit (75%) has been reached. It's a quick, easy, and handy way to increase electrical safety and code compliance in healthcare institutions.
The market should gain from the rising need for a reliable power source. The requirement for a reliable power supply is growing along with the surge in demand for electrical and utility equipment, which highlights the need of raising the standard of power in electrical systems.
Due to a sharp increase in online sales and rising home device usage, the COVID-19 pandemic has had a beneficial impact on market growth. Customers all over the world have started working from home as a result of the lockdown, making the need to protect electrical devices more critical and driving up demand for power strips with surge protectors.
Power strip technology has evolved over time. The demand for electronic goods is rising as a result of the expanding population and economic developments in developing countries. Because of rising disposable income and industrialisation, the standard of living has increased over time. As a result, spending on and use of electronic goods have both skyrocketed. Businesses are developing new items to meet the needs of various customers. Recently, Alexa and Google assistant become compatible with smart power strips. For instance, Alexa and Google Assistant are both compatible with the Syska SSK-EBW-0304 Smart extension board. Voice commands can be used to control every socket or just a specific one.
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Over the projection period, the smart power strip category is predicted to develop at the fastest rate. As opposed to conventional power strips, which continuously use electricity after the devices are plugged in, smart power strips can detect devices that are in standby mode and turn the power off. To safeguard their equipment from unforeseen power surges, numerous firms are implementing smart power strips.
Global and United States Medical Grade Power Strip Market- Segmental analysis of the Market
Based on Type
• Smart Power Strip
• Common Power Strip
• Specialized Power Strip
The common power strip segment has dominated the market growth over the forecast period. This is because of the increasing number of connected televisions, lights, and computers, among other electronic products, is prompting customers to adopt power strips to provide them with extra outlets to connect multiple devices simultaneously.
Based on Protection
• Surge Protection
• Fuse-based Protection
• Others
The surge protection segment has dominated the market growth over the forecast period. This is because the he major cause of equipment failure is voltage surges, which are often caused due to lightning strikes, electrical accidents, circuit-breaker tripping, and turning nearby heavy-load machines on/off. Surges can lead to the destruction of electronic components. Loss of service, operation, data, and production can be more than the cost of damaged equipment. The equipment can age prematurely if they are subject to low-level overvoltage for the long term.
Based on Application
• Household
• Commercial
• Industrial
The commercial segment has dominated the market growth over the forecast period. This is because the commercial-grade power strips have become important for all commercial applications and also several residential applications. Outdoor or commercial equipment requires a power strip that is temperature-resistant, weather-resistant, and offers surge protection to prevent the devices from the risk of damage.
Competitive Landscape
Some of the prominent companies operating in the market are General Electric; Belkin; Leviton; Schneider; Legrand; Philips; Siemens; ABB; Panasonic Corporation; Cyberpower; Delixi Electric; Falconer Electronic.
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