Electricians in the US
Over the past five years to 2019, 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 and interest rates have remained low over the past five years, developers, home builders and business owners have pursued many construction projects that require electrical work, benefiting the industry. Demand for nonresidential and residential construction projects has been high during the period due to low interest rates and access to credit. In addition to growth in per capita disposable income and corporate profit, rising demand for construction projects requiring electrical work has boosted demand for industry services from corporations and individuals alike. Over the five years to 2024, the Electricians industry is expected to continue growing, albeit at a slower pace. Uncertainty surrounding interest rates is anticipated to result in decelerated growth for the value of residential construction. Conversely, growth in the value of nonresidential construction is anticipated to accelerate, aided by increased investment in manufacturing structures.
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.
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