Electricians in the US - Market Research Report

Bright future: Skilled labor shortages and supply chain disruptions will likely persist over the next five years, limiting industry profit

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.

The Electricians industry powers the modern economy and digital lifestyle. It 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. Between 2018 and 2023, electricians kept the lights on by capitalizing on a housing expansion while simultaneously continuing emergency repairs during the COVID-19 pandemic. Simultaneously, economic activity has improved, despite the pandemic still creating significant harm for the nonresidential construction and utility sectors. Despite the COVID-19 pandemic, over the past five years, industry revenue has been rising at a CAGR of 0.4%, reaching an estimated $239.1 billion in 2023, despite being projected to fall 1.4% in 2023. 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.