Electricians in the US
Over the past five years, the Electricians industry has posted strong growth supported by new construction activity and an uptick in renovations. Industry operators generate a large portion of revenue from electrical system installations in new residential and nonresidential structures, as well as from repair, retrofit and maintenance work. As the general level of economic activity has increased over the past five years, developers, home builders and business owners have pursued many construction projects that require electrical work, benefiting the industry. Over the five years to 2023, the Electricians industry is expected continue growing, albeit at a slower pace. Looming interest rate hikes are anticipated to result in decelerated growth for the residential and nonresidential construction markets. Slower growth in these markets, which drive industry demand, is expected to translate to slower growth in electrical services. However, the industry is projected to benefit from continued renovation and retrofitting activity, particularly green upgrades such as energy-efficiency projects.
This industry performs electrical work at a site and services, sells and installs electrical equipment. The electrical services performed include new work, additions, alterations, maintenance and repairs.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.