Sparks flying: Strong Michigan construction has helped the industry outpace its US counterpart

Operators in the Electricians industry in Michigan install and service electrical wiring, equipment and systems. Demand for industry operators has been high over the five years to 2018. Downstream residential and nonresidential construction has grown strongly in the state, supported by increases in disposable income and access to credit. As a result of such strong demand for industry services, IBISWorld estimates that industry revenue has increased an annualized 5.5% to $3.9 billion during the five-year period to 2018, with growth in 2018 alone estimated to be 4.2%.As the largest source of revenue for industry operators, nonresidential construction has been a primary driver of growth during the period...purchase to read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 13-18
5.5%
Forecast Growth 18-23
Profit
Employment
26,429
Businesses
5,667

Industry Threats & Opportunities

  • Rising demand will likely drive more operators to enter the industry, though a shortage of trained electricians is expected to temper this
  • Industry Report - Industry Locations Chapter

    The geographic distribution of industry establishments in the state of Michigan follows patterns according to population distribution, median household incomes and the level of nonresidential development activity. IBISWorld estimates that the largest regions by number of industry establishments are the Metro (34.5%), Grand (17.7%), Bay (15.1%) and University (13.1%) regions. At the regional level, the distribution of establishments closely follows the distribution of the population throughout these regions. To illustrate, the largest region by number of industry establishments, the Metro region, also contains the largest share of the state's population at 38.9%. Following the Metro region, the Grand region (16.0%), the University region (14.9%) and the Bay region (14.2%) ...purchase to read more.

    Additional Insights for the Electricians in Michigan Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Electricians in Michigan Industry are

  • Having a good reputation
  • Having contacts within key markets
  • Management of seasonal production
  • IBISWorld analysts also discuss how external factors such as Value of private nonresidential construction in Michigan and Per capita disposable income in Michigan in the Electricians in Michigan industry impact industry performance..

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    What's in this report

    What is the Electricians in Michigan Industry?

    This industry performs electrical work at a site (e.g. installing wiring), services electrical equipment at a site and sells and installs electrical equipment. The electrical work performed includes new work, additions, alterations, maintenance and repairs.

    Industry Products
  • Electric and lighting power and systems installation and servicing
  • Telecommunications installation and servicing
  • Electronic and environmental control systems services
  • Fire and security systems installation and servicing
  • Highway, street or bridge lighting and signal services
  • All other services
  • Industry Activities
  • Electric light or power installation
  • Electric wiring installation on construction projects
  • Repair or maintenance of electrical wiring (except of electricity transmission or distribution lines)
  • Domestic exhaust fans installation
  • Closed-circuit video surveillance systems installation
  • Communication wiring and cabling installation
  • Repairs and maintenance of communication and electrical equipment
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Value of private nonresidential construction in Michigan
  • Per capita disposable income in Michigan
  • Value of residential construction in Michigan
  • Access to credit in Michigan

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Electricians in Michigan Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Home Builders
  • Apartment & Condominium Construction
  • Industrial Building Construction
  • Heavy Engineering Construction
  • Computer & Packaged Software Wholesaling
  • Electrical Equipment Wholesaling
  • Property Management
  • Commercial Building Construction
  • Municipal Building Construction

  • Key Selling Industries
  • Construction & Mining Equipment Wholesaling
  • Electrical Equipment Wholesaling
  • Electronic Part & Equipment Wholesaling

  • Products & Services
  • Electric and lighting power and systems installation and servicing
  • Telecommunications installation and servicing
  • Electronic and environmental control systems services
  • Fire and security systems installation and servicing
  • All other services
  • Highway, street or bridge lighting and signal services
  • Chart: Electricians in Michigan Industry Products and Services Segmentation

  • Major Markets
  • Commercial office buildings and manufacturing projects
  • Residential buildings
  • Institutional, educational and civic buildings
  • Other buildings
  • Nonbuilding construction
  • Chart: Major Market Segmentation for the Electricians in Michigan Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Electricians in Michigan

  • Basis of Competition
    Barriers to Entry
    Motor City Electric Co., Center Line Electric Inc., JMC Electrical Contractor LLC, Newkirk Electric Associates Inc.,
  • Table: Motor City Electric Co. - financial performance
  • Table: Center Line Electric Inc. - financial performance
  • Table: JMC Electrical Contractor LLC - financial performance
  • Table: Newkirk Electric Associates Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Electricians in Michigan Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Electricians in Michigan Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Value of Construction (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Climate Control
  • The technology of indoor and automotive environmental comfort.
  • Data Cabling
  • Electronic installation required to enable the sending and receiving of data between computer networks.
  • Low-Voltage
  • An electronic connection that uses low voltage, which is required to power fire alarms, household lights, air conditioning, music systems, security cameras and other electronic equipment.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Electricians in Michigan provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Electricians in Michigan:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Electricians in Michigan market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Electricians in Michigan, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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