CHICAGO, April 5, 2023 /PRNewswire/ -- According to Arizton's latest research report, the U.S. electrical contractors market will grow at a CAGR of 3.94% from 2022-2028.
Download a Free Sample Report Now: https://www.arizton.com/request-sample/3777
BROWSE IN-DEPTH TOC ON U.S ELECTRICAL CONTRACTORS MARKET
43 - Tables
76 - Charts
188 - Pages
The growth in new construction or remodeling is driving the demand for electrical contractors. The rise in 5G technology, demand from data centers, shift toward clean energy, and demand for EV charging infrastructure contribute to the US electrical contractors market growth. Many vendors are expected to enter the market during the forecast period, making the market highly consolidated, as the US electrical contractors market presents lucrative revenue growth opportunities. Many firms are expected to expand their local stores in other countries, likely leading to a project price war among new and existing vendors. The US electrical contractor services are also expected to increase by 2028 due to the rise in demand from data centers.
U.S. ELECTRICAL CONTRACTORS MARKET REPORT SCOPE
Report Attributes | Details |
Market Size (2028) | USD 283.74 Billion |
Market Size (2022) | USD 225.0 Billion |
CAGR (2022-2028) | 3.94 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | Services, Application, End-Use, and Geography |
Geographic Analysis | U.S. (Midwest, West, Northeast, and South) |
LOOKING FOR MORE INFORMATION? DOWNLOAD THE FREE SAMPLE REPORT NOW: https://www.arizton.com/request-sample/3777
The US is a leader in the electrical contractors market in North America due to its tech-savvy population and awareness of the benefits of the latest technologies and smart services. Therefore, the adoption rate of contractor services is high in the country. The residential and commercial construction, institutional, and other sectors drive the demand for electrical contractors. Improvements in living standards and increased consumer spending on constructing houses with modern and multi-functional sets in the Western US drive the demand for electrical contractors. People's living standards are expected to rise and drive market growth during the forecast period.
In 2022, the electrical segment dominated the market with a 66.86% share. A rise in EV charging infrastructure is expected to boost the market during the forecast period. In addition, increased construction and renovation activities in residential and commercial spaces increase the demand for electrical contractors in the market. Moreover, the electricity demand from the transportation industry is also expected to boost the demand for electrical contractor services.
The demand for electricity from the transportation sector is expected to grow between 2021 and 2024. This is projected to be a major driver for electricity demand in the future. In 2021, electricity consumption began to return, especially in industrial and commercial sectors, where the US retail sales of electricity were around 6.1% and 4.9%, with the economic recovery. Furthermore, the rise in commercial sector electricity is mainly due to workers' return, especially in offices post the COVID-19 pandemic. Between June and August 2022, the US Energy Information Administration recorded an average monthly electricity consumption in the residential sector of about 1,050-kilowatt hours (kWh). Therefore, the demand for electrical contractors to plan and implement services will increase with electricity consumption in both commercial and residential sectors.
CUSTOMIZE YOUR REPORT NOW:
If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.arizton.com/customize-report/3777
The US is a major market for EVs in terms of production and consumption. Hyundai Motor, Tesla, General Motors, and Ford Motor are among the leading producers of EVs in the US. Tesla leads in EV production and is expected to significantly contribute to the US and global EV market shares by the end of 2030. Moreover, many HDV OEMs, especially Freightliner Western Star, aim to offer only CO2-neutral HDVs by 2039.
The US government enforces regulations to reduce CO2 emissions, and the mandates for ZEVs also augment the demand for EVs in the US. In 2021, the country reported sales of 608,000 units of EVs, an increase of almost 289,202 units from 2020. Thus, the growth outlook for EVs in the US will support the demand for electrical contractors in the upcoming years.
KEY COMPANY PROFILES
- Quanta Services
- MYR Group
- EMCOR Group
- MDU Resources Group
- IES Holdings
- MasTec
- Rosendin Electric
- Cupertino Electric
- M.C. Dean
- ArchKey Solutions
- American Electrical Contracting
- Crete Mechanical Group
- New England Electrical Contracting
- SunGrid Solutions
- Hilscher-Clarke
- RESA Power
- ABM
- Comfort Systems USA
- Henkels & McCoy
- MMR Group
- Five Star Electric
- Helix Electric
- Faith Technologies
- Bergelectric
- The Newtron Group
- Facility Solutions Group
- Redwood Electric Group
- Power Design
- Cache Valley Electric
- E-J Electric Installation
MARKET SEGMENTATION
Services
- Electrical
- Telecommunications
- Fire & Security
- Electrical Control
- Lighting & Signal
- Others
Application
- New Construction
- Renovation or Maintenance
End-Use
- Outside
- Inside
- Residential
- Commercial
- Industrial
- Integrated Building Systems
Region
- The U.S.
- Midwest
- West
- Northeast
- South
CHECK OUT SOME OF THE LATEST RESEARCH REPORTS:
Data Center Generator Market - Global Outlook & Forecast 2022-2027: The data center generator market is projected to cross USD 7 billion by 2027. The key opportunities in the global data center generator market are the construction of hyperscale data centers, increased power outages, and the popularity of modular data centers & gensets.
U.S. Power Rental Market - Strategic Assessment & Forecast 2023-2029: The U.S. Power Rental market to reach USD 5.43 billion by 2029. Diesel fuel type is projected to dominate the U.S. power rental market share; it has the highest incremental opportunity and is preferred over other fuels as it is more reliable.
Belt-Driven Starter Generator (BSG) Market - Global Outlook & Forecast 2021-2026: The global belt-driven starter generator market is expected to reach USD 1.3 billion by 2026. Increasing the production of mild hybrid electric vehicles MHEVs and raising awareness in developing regions are the latest trends in the market.
U.S. Data Center Power Market - Industry Outlook and Forecast 2021-2026: The U.S. data center power market to reach $8.85 billion by 2027. Covid-19 implications on the data center market, increase in data center investments, availability of tax incentives to boost the data center market, and increase in power outages are some key growth enablers of the US data center power market.
TABLE OF CONTENT
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY SERVICE
4.3.2 MARKET SEGMENTATION BY APPLICATION
4.3.3 MARKET SEGMENTATION BY END-USE
4.3.4 MARKET SEGMENTATION BY INSIDE END-USE
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 PREMIUM INSIGHTS
7.1 MARKET DEFINITION
7.2 REPORT OVERVIEW
7.2.1 MARKET SNAPSHOT
7.3 OVERALL ELECTRICAL MARKET
7.4 ANALYSIS OF OPPORTUNITIES & CHALLENGES
7.5 SEGMENT ANALYSIS
7.6 REGIONAL ANALYSIS
7.7 COMPETITIVE LANDSCAPE
7.8 FREQUENTLY ASKED QUESTIONS
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 NATIONAL ELECTRICAL CONTRACTORS ASSOCIATION (NECA)
8.1.2 REGULATIONS
8.1.3 SIGNIFICANT FACTORS THAT IMPACT THE MARKET
8.1.4 RISK FACTORS
8.2 OVERALL ELECTRICAL INDUSTRY
8.3 OVERALL CONSTRUCTION INDUSTRY
8.4 VALUE CHAIN ANALYSIS
9 MARKET OPPORTUNITIES & TRENDS
9.1 ADVENT OF 5G TECHNOLOGY
9.2 DEMAND FROM DATA CENTERS
9.3 SHIFT TOWARD CLEAN ENERGY
9.4 DEMAND FOR ELECTRIC VEHICLE CHARGING INFRASTRUCTURE
10 MARKET GROWTH ENABLERS
10.1 INFRASTRUCTURE DEVELOPMENT
10.2 INCREASED RENOVATION ACTIVITIES
11 MARKET RESTRAINTS
11.1 LACK OF SKILLED LABOR
11.2 VOLATILITY IN RAW MATERIAL PRICES
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 SERVICE
12.3.1 MARKET SIZE & FORECAST
12.4 APPLICATION
12.4.1 MARKET SIZE & FORECAST
12.5 END-USE
12.5.1 MARKET SIZE & FORECAST
12.6 INSIDE END-USE
12.6.1 MARKET SIZE & FORECAST
12.7 FIVE FORCES ANALYSIS
12.7.1 THREAT OF NEW ENTRANTS
12.7.2 BARGAINING POWER OF SUPPLIERS
12.7.3 BARGAINING POWER OF BUYERS
12.7.4 THREAT OF SUBSTITUTES
12.7.5 COMPETITIVE RIVALRY
13 SERVICE
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 ELECTRICAL
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.4 TELECOMMUNICATION
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.5 FIRE & SAFETY
13.5.1 MARKET OVERVIEW
13.5.2 MARKET SIZE & FORECAST
13.6 ELECTRICAL CONTROL
13.6.1 MARKET OVERVIEW
13.6.2 MARKET SIZE & FORECAST
13.7 LIGHTING & SIGNAL
13.7.1 MARKET OVERVIEW
13.7.2 MARKET SIZE & FORECAST
13.8 OTHERS
13.8.1 MARKET OVERVIEW
13.8.2 MARKET SIZE & FORECAST
14 APPLICATION
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 NEW CONSTRUCTION
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.4 RENOVATION OR MAINTENANCE
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
15 END-USE
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 OUTSIDE
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.4 INSIDE
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 RESIDENTIAL: MARKET SIZE & FORECAST
15.4.4 COMMERCIAL: MARKET SIZE & FORECAST
15.4.5 INDUSTRIAL: MARKET SIZE & FORECAST
15.5 INTEGRATED BUILDING SYSTEM
15.5.1 MARKET OVERVIEW
15.5.2 MARKET SIZE & FORECAST
16 REGIONAL OVERVIEW
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 SOUTH
16.2.1 MARKET SIZE & FORECAST
16.3 WEST
16.3.1 MARKET SIZE & FORECAST
16.4 MIDWEST
16.4.1 MARKET SIZE & FORECAST
16.5 NORTHEAST
16.5.1 MARKET SIZE & FORECAST
17 COMPETITIVE LANDSCAPE
17.1 COMPETITION OVERVIEW
18 KEY COMPANY PROFILES
18.1 ABM
18.1.1 BUSINESS OVERVIEW
18.1.2 SERVICE OFFERINGS
18.2 AMERICAN ELECTRICAL CONTRACTING
18.3 ARCHKEY SOLUTIONS
18.4 BERGELECTRIC
18.5 CACHE VALLEY ELECTRIC
18.6 COMFORT SYSTEMS USA
18.7 CRETE MECHANICAL GROUP (CMG)
18.8 CUPERTINO ELECTRIC
18.9 E-J ELECTRIC INSTALLATION
18.10 EMCOR GROUP
18.11 FACILITY SOLUTIONS GROUP
18.12 FAITH TECHNOLOGIES
18.13 FIVE STAR ELECTRIC
18.14 HELIX ELECTRIC
18.15 HENKELS & MCCOY
18.16 HILSCHER-CLARKE
18.17 IES HOLDINGS
18.18 M.C. DEAN
18.19 MASTEC
18.20 MDU RESOURCES GROUP
18.21 MMR GROUP
18.22 MYR GROUP
18.23 NEW ENGLAND ELECTRICAL CONTRACTING
18.24 POWER DESIGN
18.25 QUANTA SERVICES
18.26 REDWOOD ELECTRIC GROUP
18.27 RESA POWER
18.28 ROSENDIN ELECTRIC
18.29 SUNGRID SOLUTIONS
18.30 THE NEWTRON GROUP
19 REPORT SUMMARY
19.1 KEY TAKEAWAYS
19.2 STRATEGIC RECOMMENDATIONS
20 QUANTITATIVE SUMMARY
20.1 REGION
20.2 END-USE
20.3 INSIDE END-USE
20.4 APPLICATION
20.5 SERVICE
21 APPENDIX
21.1 ABBREVIATIONS
ABOUT US:????????????
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.??????????
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.???????????
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.???????????????
CONTACT US?????????
Call: +1-312-235-2040????????
????????? +1 302 469 0707???????
Mail:?enquiry@arizton.com?????????
Contact Us:?https://www.arizton.com/contact-us?????????
Blog:?https://www.arizton.com/blog?????????
Website:?https://www.arizton.com/?????????
Photo: https://mma.prnewswire.com/media/2048267/U_S__Electrical_Contractors_Market.jpg
Logo: https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/the-us-electrical-contractors-market-is-set-to-reach-283-4-billion-by-2028-high-adoption-of-ev-charging-infrastructure-booming-the-market-growth--arizton-301790834.html
