|Last Quarterly Update:||11/28/2016|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry install and maintain electrical wiring and equipment. Major companies include Bergelectric, EMCOR Group, Integrated Electrical Services, 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. Emerging markets such as India are growing quickly as a result of increased urbanization, rising populations, and the expanding middle class. Construction growth in China is expected to slow in sectors such as housing and shift to health care, education, social infrastructure, and retail.
The US electrical contracting industry includes about 70,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $140 billion.
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 ...
Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?Learn More About Subscription Options