As per MRFR analysis, the South Korea Power Strip Market Size was estimated at 268 (USD Million) in 2023. The South Korea Power Strip Market Industry is expected to grow from 272.2(USD Million) in 2024 to 604.4 (USD Million) by 2035. The South Korea Power Strip Market CAGR (growth rate) is expected to be around 7.521% during the forecast period (2025 - 2035)
In South Korea, the power strip market is experiencing notable trends driven by the increasing demand for connectivity and electricity management in various sectors. With the rapid growth in the number of electronic devices among households and businesses, there is a rising need for multiple outlet solutions. Companies and consumers are increasingly seeking power strips that not only offer more outlets but also incorporate advanced safety features to prevent overloading and short circuits. This concern is boosted by government regulations aimed at enhancing electrical safety standards in residential and commercial spaces, which directly influences consumer purchasing decisions.
The increasing use of smart home technologies and IoT devices is another primary factor that fuels the South Korea power strip market. Since South Korea is one of the most smartphone-penetrating countries in the world, there is an expanding market of smart power strips that allow users to control devices remotely and optimize energy consumption effectively. They are integrating innovations such as USB charging ports, surge guarding, and energy monitoring into their products for advanced South Korean customers. The shift towards sustainability is being adopted as well, and consumers are looking for power strips that are more energy efficient and reduce energy expenditure.
This aligns with the Korean government’s initiatives to tackle environmental concerns and promote energy-saving products. Additionally, the rise of the e-commerce sector in South Korea provides immense opportunities for power strip manufacturers to reach a wider customer base through online platforms, enabling them to showcase innovative features and safety certifications that appeal to the market. Overall, the South Korean power strip market presents significant opportunities for growth driven by technological advancement, safety, and sustainability.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Increasing Demand for Smart Home Devices
The demand for smart home devices is on the rise in South Korea, which significantly propels the South Korea Power Strip Market Industry. According to Statistics Korea, the number of smart home installations is projected to grow at a rate of approximately 20% annually, reflecting a significant shift in consumer preferences towards interconnected devices. With established companies like LG Electronics and Samsung leading the charge, their focus on integrating power strips within smart homes fosters an increase in the need for innovative power solutions.
This trend indicates a deeper consumer investment in technology, ultimately resulting in more sophisticated power strips that cater specifically to smart appliances. Furthermore, as energy efficiency and connectivity become crucial factors, power strips with built-in Wi-Fi and energy monitoring features are increasingly being preferred by homeowners, thus driving the market forward.
Growth in Residential and Commercial Real Estate
The growth in residential and commercial real estate development in South Korea is playing a crucial role in the expansion of the South Korea Power Strip Market Industry. The Ministry of Land, Infrastructure, and Transport reported that new construction permits have increased by 15% over the past three years, signaling a robust real estate market. As new properties are built, they require modern electrical installations, including power strips that meet contemporary safety standards and energy-saving requirements.
Moreover, the rising trend of working from home due to the pandemic has led to significant investments in home office setups, further driving the demand for versatile power strips in both residential and commercial sectors. This ongoing expansion suggests a steady increase in sales for power strip manufacturers.
Advancements in Safety Standards and Regulations
Improvements in safety standards and regulations governing electrical appliances are significantly boosting the South Korea Power Strip Market Industry. The Korea Electrical Safety Corporation (KESC) has updated its safety guidelines to include stricter compliance requirements for power strips. The focus on consumer safety is increasingly important as incidents related to electrical hazards have prompted authorities to ensure that power strips meet high-quality standards.
As a result, manufacturers are innovating their products to comply with these regulations, leading to safer and more efficient power strips now entering the market. Enhanced safety features, such as surge protectors and automatic shut-off, have become essential components, which represents a growing opportunity for manufacturers to develop products that satisfy consumer demand for safety.
Rising Awareness of Energy Efficiency
The escalating awareness surrounding energy efficiency in South Korea is a key driver for the South Korea Power Strip Market Industry. The South Korean government has initiated several campaigns aimed at promoting energy conservation, resulting in a reported increase of approximately 30% in energy-efficient appliance sales over the last four years, according to the Ministry of Trade, Industry and Energy. As consumers become more conscious of their energy consumption, they seek power strips that offer energy-saving features, such as timers and energy monitors.
Companies like Schneider Electric and Siemens are capitalizing on this trend by innovating their product lines to include energy-efficient power strips. This focus on sustainability not only helps reduce energy costs for consumers but also positions manufacturers favorably in a market that increasingly values environmentally friendly products.
Power Strip Market Type Insights
The South Korea Power Strip Market is experiencing notable development across various types of power strips, each catering to specific consumer needs and technological advancements. Among these, the Common Power Strip remains a staple, recognized for its practicality in both residential and commercial spaces. This traditional yet essential equipment serves to expand electrical outlet availability, accommodating multiple devices simultaneously, which is increasingly important as electronic device usage continues to rise in households and businesses alike. Conversely, Smart Power Strips are emerging as a prominent category, capturing the interest of tech-savvy consumers who prioritize automation and energy efficiency.
These innovative strips often integrate features such as remote control via mobile applications, energy monitoring, and compatibility with home automation systems, catering to the growing trend of smart homes in South Korea. The increasing demand for smart home devices and the push for energy-efficient solutions significantly bolster the relevance of Smart Power Strips in the market. Furthermore, Specialized Power Strips target niche markets, providing tailored solutions that address specific user requirements, such as surge protection, USB charging ports, and design elements that suit unique applications like gaming or office environments.
As the need for safer and more versatile power solutions intensifies, this segment is gaining traction among consumers seeking high-performance options. While the Common Power Strip dominates in terms of overall demand, the rising adoption of Smart and Specialized Power Strips highlights the evolving preferences in consumer behavior, driven by technological advancements and a shift towards efficient energy use. With government initiatives in South Korea focusing on sustainability and energy conservation, these trends are expected to foster further growth and diversification within the South Korea Power Strip Market.
This segmentation not only reflects the dynamic landscape of consumer electronics but also showcases the potential for innovation and investment in South Korea's electrical infrastructure.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Power Strip Market Protection Type Insights
The South Korea Power Strip Market, particularly under the Protection Type segment, encompasses essential features that enhance device safety and reliability. Surge Protection is a key aspect, crucial for safeguarding electronic devices from voltage spikes caused by lightning strikes or other power fluctuations, which can lead to significant damages. This protection type has gained traction due to increasing consumer awareness concerning the importance of device longevity and performance. In parallel, Fuse Based Protection also plays a pivotal role by providing a straightforward yet effective solution to prevent overcurrent situations that could lead to short circuits or fires.
This continuity in safety measures aligns with the rising trend of home automation and the proliferation of smart devices within South Korea, underscoring the necessity for reliable power delivery systems. The blend of these protection types not only addresses the current consumer demand for safety but also reflects the broader South Korean commitment to innovation and technology in its ever-evolving electronics sector.
Power Strip Market Application Insights
The Application segment of the South Korea Power Strip Market is diverse, encompassing Household, Commercial, and Industrial applications. The Household sector plays a pivotal role, given the increasing number of electronic devices in homes, leading to a demand for efficient power management solutions. In the Commercial landscape, power strips are crucial for ensuring uninterrupted power supply to office equipment, thereby aiding productivity and safety. The Industrial sector, characterized by a growing emphasis on automation and technology, is seeing a rise in demand for robust power strips that can withstand heavy usage and harsh conditions.
Each segment contributes significantly to the overall growth dynamics of the South Korea Power Strip Market, as businesses and consumers alike prioritize safety and efficiency in power management. As electrification rises across various aspects of life in South Korea, the significance of each application area is expected to elevate, fostering a competitive landscape outlined by innovation and user-centric designs. Furthermore, increasing awareness regarding energy efficiency and regulatory measures focused on electrical safety are enhancing the market dynamics, with businesses exploring advanced power solutions tailored to specific applications.
The South Korea Power Strip Market is characterized by a strong presence of key players and intense competition due to the growing demand for electrical accessories spurred by increased consumer electronics usage and the rise of smart home technologies. This market has witnessed an upsurge in product innovations such as surge protectors, USB-integrated power strips, and smart-enabled power management solutions that are tailored to fit the lifestyle of modern consumers. As a result, companies are focusing on enhancing product functionalities and ensuring safety features to gain a competitive edge.
Additionally, evolving consumer preferences towards energy efficiency and environmentally friendly products have compelled manufacturers to adapt and innovate for greater market penetration. The competitive landscape is further complicated by regulatory standards for safety and energy consumption, requiring companies to invest in advanced technology and compliance measures to maintain their market position.Samsung Electronics, a prominent player in the South Korea Power Strip Market, leverages its extensive research and development capabilities to produce high-quality power accessories that emphasize user convenience and safety. As one of the most recognized brands in the world, Samsung's brand loyalty and reputation enable it to maintain a significant market share domestically.
The company integrates advanced technology into its power strip offerings, targeting the intersection of innovation and functionality. Samsung's strengths lie in its ability to combine aesthetic designs with superior performance, ensuring that its products not only meet technical specifications but also cater to the design preferences of consumers. The company maintains an extensive distribution network throughout South Korea, which further solidifies its market presence and allows for efficient product availability, thereby fostering consumer trust and brand loyalty.Legrand also holds a key position in the South Korea Power Strip Market by offering a comprehensive range of electrical and digital infrastructure solutions. This company's strengths lie in its innovative technology and commitment to energy efficiency, catering to both residential and commercial consumer segments.
Legrand focuses on smart and connected power solutions, which resonate with the increasing trend of smart homes and energy management systems. The company has built strong relationships with local distributors, enhancing its market penetration while ensuring accessibility to its products across the region. Moreover, Legrand actively engages in mergers and acquisitions to expand its product portfolio and innovate its offerings, positioning itself strategically in a competitive landscape. They prioritize sustainability and safety in their designs, consistently aligning with regulatory requirements and consumer expectations in South Korea, thus making them a formidable competitor in the power strip sector.
The South Korea Power Strip Market has witnessed significant developments recently, with major players like Samsung Electronics, LG Electronics, and Schneider Electric actively engaging in innovation and sustainability efforts. In June 2023, Samsung Electronics launched a new range of smart power strips that are integrated with IoT technology, enhancing connectivity and energy efficiency for users. Furthermore, LG Electronics is expanding its product line with eco-friendly power strips that align with global sustainability initiatives.Current affairs show an increasing focus on smart home devices, with rising consumer demand for multifunctional power strips.
In terms of market growth, the South Korean power strip market is expected to increase significantly, driven by advancements in technology and a shift towards more energy-efficient products. Over the last two years, Hyundai Electronics announced a partnership with Daewoo Electronics in July 2022 to co-develop advanced power management solutions, showcasing collaboration within the industry. Mergers and acquisitions remain limited, but CKD Corporation is exploring potential partnerships to enhance its product offerings. This competitive landscape is instrumental in shaping the future of power strip solutions in South Korea.
Power Strip Market Type Outlook
Power Strip Market Protection Type Outlook
Power Strip Market Application Outlook
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 268.0(USD Million) |
| MARKET SIZE 2024 | 272.2(USD Million) |
| MARKET SIZE 2035 | 604.4(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.521% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Samsung Electronics, Legrand, LG Electronics, Hyundai Electronics, Daewoo Electronics, CKD Corporation, STMicroelectronics, Eaton Corporation, Furukawa Electric, Schneider Electric, Nexans, Panasonic, Sungwoo Hitech, Mando Corporation, Mitsubishi Electric |
| SEGMENTS COVERED | Type, Protection Type, Application |
| KEY MARKET OPPORTUNITIES | Smart power strip integration, Eco-friendly materials usage, Enhanced safety features demand, Increased online retail channels, Multi-device charging solutions |
| KEY MARKET DYNAMICS | increasing demand for smart devices, rising safety standards and regulations, growth in home automation systems, surge in e-commerce sales, preference for energy-efficient products |
| COUNTRIES COVERED | South Korea |
Frequently Asked Questions (FAQ) :
The South Korea Power Strip Market is expected to be valued at 272.2 million USD in 2024.
By 2035, the South Korea Power Strip Market is projected to reach a value of 604.4 million USD.
The expected CAGR for the South Korea Power Strip Market from 2025 to 2035 is 7.521%.
The Common Power Strip holds the largest market share in South Korea, valued at 108.9 million USD in 2024.
The expected market value of Smart Power Strips in South Korea by 2035 is 180.5 million USD.
Key players in the South Korea Power Strip Market include Samsung Electronics, LG Electronics, and Legrand, among others.
The projected market value for Specialized Power Strips in South Korea by 2035 is 184.3 million USD.
Challenges in the South Korea Power Strip Market include adapting to evolving technology and increasing competition.
The growth in the South Korea Power Strip Market is primarily driven by increased demand for household and commercial electronics.
Regionality impacts the growth of the South Korea Power Strip Market as urban areas show a higher demand for advanced power solutions.
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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