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The scale of China's power strip market is gradually increasing, and Bull Group has become a leading enterprise

Article Source：Kinri Energy | Author：Kinri Energy | Issuing Time：2023.10.26
As an auxiliary power supply tool, power strip is often used to fill the gap in power facilities in application areas, with the advantages of small weight, convenient use, and high safety.


Power strip plug, also known as plug board, extension cord socket, strip plug, mobile socket, etc., is a type of multi position socket with wires, mainly used for auxiliary power supply. The power strip can not only be moved freely, but can also be connected to more than one power plug, greatly saving space and wiring. With the gradual progress of production technology, the types of power strips are becoming increasingly diverse. According to different structural styles, they can be roughly divided into linear strips, UFO strips, pedal strips, rotary strips, etc. Among them, linear insertion is the mainstream product of insertion in China.

From the perspective of application fields, power strips can be seen almost everywhere in daily life, especially in industries, homes, offices and other fields where they are widely used. Among them, households have become the largest application area for power strip insertion, with a market share of 68.71%; Next is the industrial sector, with a market share of 24.22%; The third ranked is office space, with a market share of 6.34%.

From the perspective of sales channels, the sales channels for power strip plugs in China can be roughly divided into offline sales channels and online sales channels. Among them, offline channels mainly include distributors, convenience stores, department stores, large supermarkets, etc; The offline channels mainly include Taobao, JD.com, official websites, mini programs, etc. At present, the offline sales channel is still the main channel for power strip plug in China. However, with the gradual increase of Internet penetration in China and the increasingly mature e-commerce platform, the number of online shoppers of power strip plug may gradually increase, and the proportion of online channel sales will gradually increase in the future.

According to the "14th Five Year Plan" period analysis and investment strategy consulting report on China's power supply plug-in industry released by the New Thinking Industry Research Center, as China's economic level gradually improves, the consumption level of residents gradually upgrades, and the requirements for quality of life gradually increase, the penetration rate of small household appliances such as rice cookers, microwave ovens, and wall breaking machines gradually increases, indirectly driving the development of the power supply infrastructure market. As an auxiliary power supply tool, power strip is often used to fill the gap in power facilities in application areas, with the advantages of small weight, convenient use, and high safety.

With the gradual upgrading of production technology in our country, the functions of power strips are becoming increasingly rich, the application scenarios are gradually expanding, and market demand is gradually increasing. In this context, the scale of China's power strip market is showing an increasing trend year by year. From 2015 to 2022, the size of China's power strip market increased from 10.19 billion yuan to 15.62 billion yuan, with a compound annual growth rate of 15.32%.

According to industry analysts from Xinsijie, currently, the largest power strip companies in China mainly include Bull Group, Opp Lighting, State Machinery Electric, Hongyan Electric, and Hangjia Electronics. In addition, there are many foreign companies entering China's power strip market, mainly including Philips, Siemens, Schneider, Legrand, and others. Among them, Bull Group has become a leading enterprise in the industry due to its large market share. With the continuous development of China's power strip market, market competition is becoming more intense, and smaller enterprises without independent research and development capabilities will gradually be eliminated. In the future, the concentration of the power strip market is expected to further increase.
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