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    Electrical Contractors Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 4/12/2021
    SIC Codes: 1731
    NAICS Codes: 23821
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Electrical Contractors Industry Profile

    Companies in this industry install and maintain electrical wiring and equipment. Major companies include Bergelectric, EMCOR, IES Holdings, MYR Group and Rosendin Electric (all based in the US).

    Electrical contractors worldwide depend on construction activity as well as demand for renovation. The global volume of construction is forecast to grow by 85% to $15.5 trillion by 2030, according to a report by Global Construction Perspectives and Oxford Economics sponsored by PwC. The largest construction markets -- the US, India, and China -- are expected to account for 57% of global growth. As per Research and Markets' report, the APAC is anticipated to remain as the largest construction market through 2023, driven by the growing urbanization and increase in expenditures on infrastructures and affordable housing projects.

    The US electrical contracting industry includes more than 70,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of more than $170 billion.

    COMPETITIVE LANDSCAPE

    Most electrical work is driven by new residential and nonresidential construction activity. Operation, maintenance, and repair work (sometimes called "facilities services") is less sensitive to real estate cycles. Larger companies have an advantage in getting contracts because of the increasing complexity of electrical projects and systems, and due to consolidation in the real estate management industry. Building managers typically prefer to deal with contractors who can provide service in multiple markets. Small companies can compete in local markets through service, ...

     
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