Electrical Contractors
Description
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 have a compound annual growth rate of 5.9% to $21.73 trillion by 2030, according to Research and Markets.
The US electrical contracting industry includes about 75,000 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, word-of-mouth referrals, and relationships with general construction contractors. The industry is highly fragmented: the 50 largest firms account for about 20% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Electrical contracting involves installing and maintaining electrical power systems, conduits, cables, control panels, generators, lighting, and low voltage systems, among others. The three major categories of contracting work are new construction; electrical systems replacement in existing buildings ("retrofitting"); and maintenance, repair, and replacement (MRR) work. Electrical contractors often work as subcontractors on large projects.
In addition to estimating costs for contracts, operations involve reviewing engineers' plans and specifications, scheduling crews, managing inventory, and scheduling equipment to ensure that a contract is fulfilled according to schedule.
Electricians must be able to read blueprints or technical diagrams to install wiring, control, and lighting systems. Besides common electrical systems, commercial projects often include fiber optic installation. Residential and commercial projects may include solar installations. Other green projects include wind energy, net metering, and cogeneration.
New single detached residential building account for about 10% of the market. The is followed by new office buildings (about 5%), all other new nonresidential buildings (less than 5%), and additions, renovations, and alteration projects (about 5%).
Electrical contractors worldwide depend on construction activity as well as demand for renovation. The global volume of construction is forecast to have a compound annual growth rate of 5.9% to $21.73 trillion by 2030, according to Research and Markets.
The US electrical contracting industry includes about 75,000 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, word-of-mouth referrals, and relationships with general construction contractors. The industry is highly fragmented: the 50 largest firms account for about 20% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Electrical contracting involves installing and maintaining electrical power systems, conduits, cables, control panels, generators, lighting, and low voltage systems, among others. The three major categories of contracting work are new construction; electrical systems replacement in existing buildings ("retrofitting"); and maintenance, repair, and replacement (MRR) work. Electrical contractors often work as subcontractors on large projects.
In addition to estimating costs for contracts, operations involve reviewing engineers' plans and specifications, scheduling crews, managing inventory, and scheduling equipment to ensure that a contract is fulfilled according to schedule.
Electricians must be able to read blueprints or technical diagrams to install wiring, control, and lighting systems. Besides common electrical systems, commercial projects often include fiber optic installation. Residential and commercial projects may include solar installations. Other green projects include wind energy, net metering, and cogeneration.
New single detached residential building account for about 10% of the market. The is followed by new office buildings (about 5%), all other new nonresidential buildings (less than 5%), and additions, renovations, and alteration projects (about 5%).
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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