$255.4bn
$XX.Xbn
1m
242k
$XX.Xbn
Electricians power the modern economy and digital lifestyle; the industry includes electrical workers who service, sell and install electrical equipment and perform electrical work at a site. While most electrical work is done on new construction, a third of electrician revenue comes from electrical upgrades. Even as interest rates have stifled previously booming residential construction since hikes began in 2022, nonresidential and utility electrical work has expanded. Electricians' revenue has been inching upward at a CAGR of 0.9% over the past five years and is expected to total $255.4 billion in 2024, when revenue will rise an estimated 1.3%. Profit has dropped due to rising labor and materials costs.
Industry revenue has grown at a CAGR of 0.9 % over the past five years, to reach an estimated $255.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Quanta Services, Inc. | 7,240.5 | 391.5 | 5.4 | |
Emcor Group, Inc. | 1,807.8 | 93.1 | 5.1 | |
Bergelectric Corporation | 789.4 | 39.5 | 5.0 |
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Industry revenue is measured across several distinct product and services lines, including Electric power and systems installation and servicing, Telecommunications installation and servicing and Fire and security system installation and servicing. Electric power and systems installation and servicing is the largest segment of the Electricians in the US.
Electricians continue to wire the world
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.
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NAICS 23821 - Electricians in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Interest Rates Affect Construction Activity. Lower interest rates initially boosted residential construction, but recent rate hikes have stymied this growth. Commercial const...
Learn about an industry's products and services, markets and trends in international trade.
Most electrical work is done on new buildings, with one-third of this going to updates and maintenance. One-quarter of electrical work involves laying wires for other systems...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Urban electrical work is relatively standardized. City electricians typically employ fewer than a dozen people, have their own work vehicles and do straightforward repairs on...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Electricians operate in a small service area, only competing with those in the immediate surrounding area. Exceptions exist for utility-based electricians or those working on...
Learn about the performance of the top companies in the industry.
No electrical contractor earns more than 5.0% of the industry's income, owing to low barriers to entry and an abundance of nonemployers. Electrical contractors focus on contr...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Electricians power digital technology but spend relatively little on it themselves. Electrical workers spend more on salaries and processes to digest the latest electrical re...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Service industries, including electricians, spend heavily on wages to find and retain the best talent. Smaller operators give employee compensation as a share of profit, whic...
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Electricians in the US industry in United States is $255.4bn in 2024.
There are 242k businesses in the Electricians in the US industry in United States, which has grown at a CAGR of 2.0 % between 2019 and 2024.
The market size of the Electricians in the US industry in United States has been growing at a CAGR of 0.9 % between 2019 and 2024.
Over the next five years, the Electricians in the US industry in United States is expected to grow.
The biggest companies operating in the Electricians market in United States are Quanta Services, Inc., Emcor Group, Inc. and Bergelectric Corporation
Electric light or power installation and Electric wiring installation on construction projects are part of the Electricians in the US industry.
The company holding the most market share in United States is Quanta Services, Inc..
The level of competition is high and steady in the Electricians in the US industry in United States.