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Electrical Contractors Market Outlook Report

Published On: Feb, 2025
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Pages: 150

The Electrical Contractors Market is estimated at USD 875.5 billion in 2022. Further, the market is expected to grow from USD 9.9 billion in 2023 to USD 1,236 billion in 2030 at a CAGR of 4.41%.

Electrical Contractors Market Market Overview

An electrical contractor is an entrepreneur or a company that works in technical architecture associated with designing, installing, and maintaining electrical systems in amenities (i.e., homes, offices, and industrial buildings). The common misconception about electrical Contractors is that they are limited to installing electrical equipment. While they have the exclusive competencies to do so, they are also involved upstream and downstream of the installation stage. In the construction industry, electrical contractors are generally categorized into three major work types: inside electrical contractors, outside electrical contractors and integrated building systems contractors. Electrical contractors are also strongly engaged in the engineering and infrastructure market. Whether it is public infrastructure for lighting, electricity or telecoms, power plants, or airports, they have the knowledge to handle all types of electrical installations. 

Latest Trends in Electrical Contractors Market

Decentralized Electrical and Digital Technologies: 
The key technologies driving the electrical contracting sector growth include decentralized renewable-based power plants, heat pumps, digital and smart building technologies, Power over Ethernet, electrical vehicle charging infrastructure, battery storage, smart cities, power grids, and IT & Telecom infrastructure. In particular, there is an increase in demand for decentralized power plants producing renewable energy, sometimes coupled with storage solutions and electric heating and transport technologies. 
Consumers are also increasingly asking for connected objects controlled by energy management systems to support energy efficiencies and improve buildings' safety, health and comfort. The growing market of simple home entertainment and audiovisual devices is not positively impacting the electrical contracting sector, as such devices are often sold as part of ""Do-It-Yourself"" or ""Plug-and-Play"" kits. On the other hand, electro-technical service companies are increasingly involved in the design, installation, integration, operation and maintenance of sophisticated smart building systems in residential, commercial and industrial buildings, especially when energy management systems are part of the package.

Driving Factors

Growing demand for electricians:
Electricians are highly skilled and proficient professionals dealing with electronic circuits, power supplies, lighting systems, and electronic outlets. In a world with an increasing demand for home solar panels and electric vehicle chargers, the field of electricity is changing rapidly. Through continuing education, electricians must learn how to install and repair new products and code changes. A growing need to update the power grid, expand communications equipment, and connect alternative energy sources to homes is creating an increased demand for electricians. 

Market Challenges

Shortage of Electricians:
The shortage of skilled workforce has been a major issue in every industry across the globe over the years. Before the pandemic, a shortage of skilled electricians already burdened the U.S. electrical industry. The National Electrical Contractors Association estimates that 10,000 electricians retire yearly but are replaced by only 7,000. Electricians are leaving the field due to retirement, disability, or career change faster than new ones are joining the field. Many recruitments are being postponed due to a lack of predictability for the coming years. Such a delay is detrimental to electrical contractors seeking to meet growing demand and recovery efforts. 

Companies Mentioned

Quanta Services
Emcor Group
Ies Holdings, Inc.
Myr Group Inc.
The Toro Company
Wasion Holdings Limited
Genus Power Infrastructure Ltd.
Abb Ltd
Eaton Corporation Plc

Market Segmentation


Market Split

    
     Detail

By Product Type
  • Electrical Wiring Services
  • Power distribution
  • Lighting systems
  • Control & Automation
  • Uninterrupted power systems
  • Other

By Service Type
  • New Construction
  • Renovation
  • Maintenance & Repair

By End-User
  • Residential
  • Commercial
  • Infra & Engineering
  • Others

By Geography
  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Rest of APAC)
  • The Middle East and Africa (Middle East, Africa)
  • South and Central America (Brazil, Argentina, Rest of SCA)

TABLE OF CONTENTS

1. GLOBALELECTRICAL CONTRACTORS INDUSTRY
1.1. Market Scope and Definition
1.2. Study Assumptions

2. ELECTRICAL CONTRACTORS MARKET LATEST TRENDS, DRIVERS AND CHALLENGES, 2021-2030
2.1. Electrical Contractors Market Latest Trends
2.1.1. Decentralized Electrical and Digital Technologies:
2.1.2. Growing digitalization:
2.1.3. Growing number of R&D investments & partnerships:
2.1.4. Government focus on the reconstruction of transmission & distribution lines across the existing infrastructure:
2.1.5. Use of AR & VR, Increasing Smart Home Trends:
2.2. Electrical Contractors Market Insights, 2021-2030
2.2.1. Leading Electrical Contractors Product Type, 2021-2030
2.2.2. Leading Electrical Contractors Communication Service Type, 2021-2030
2.2.3. Dominant Electrical Contractors Application, 2021-2030
2.2.4. Fast-Growing Geographies for Electrical Contractors, 2021-2030
2.3. Electrical Contractors Market Drivers to 2030
2.3.1. Growing demand for electricians:
2.3.2. Rising Globalization and Increasing Consumer & Commercial Trends:
2.3.3. Ongoing construction activities across commercial, industrial, and utility sectors:
2.3.4. Grid Modernization & Smart Grid Deployments:
2.4. Electrical Contractors Market Restraints to 2030
2.4.1. Shortage of Electricians:
2.4.2. Fluctuating Raw Material Prices:
2.4.3. Logistics Bottlenecks & Supply Chain Issues:
2.5. Electrical Contractors Market-Five Forces Analysis

3. GLOBAL ELECTRICAL CONTRACTORS MARKET VALUE, MARKET SHARE, AND FORECAST TO 2030
3.1. Global Electrical Contractors Market Overview, 2021
3.2. Global Electrical Contractors Market Size and Share Outlook, By Product Type, 2021-2030
3.2.1. Electrical Wiring Services
3.2.2. Power distribution
3.2.3. Lighting systems
3.2.4. Control & Automation
3.2.5. Uninterrupted power systems
3.2.6. Other Services
3.3. Global Electrical Contractors Market Size and Share Outlook, By Service Type, 2021-2030
3.3.1. New Construction
3.3.2. Renovation
3.3.3. Maintenance & Repair
3.4. Global Electrical Contractors Market Size and Share Outlook, By End User, 2021-2030
3.4.1. Residential
3.4.2. Commercial
3.4.3. Infra & Engineering
3.4.4. Other End Users
3.5. Global Electrical Contractors Market Size and Share Outlook by Region, 2021-2030

4. NORTH AMERICA ELECTRICAL CONTRACTORS MARKET VALUE, MARKET SHARE, AND FORECAST TO 2030
4.1. North America Electrical Contractors Market Overview, 2021
4.2. North America Electrical Contractors Market Size and Share Outlook by Product Type, 2021-2030
4.3. North America Electrical Contractors Market Size and Share Outlook, By Service Type, 2021-2030
4.4. North America Electrical Contractors Market Size and Share Outlook, By End User, 2021-2030
4.5. North America Electrical Contractors Market Size and Share Outlook by Country, 2021-2030
4.5.1. United States
4.5.2. Canada
4.5.3. Mexico

5. EUROPE ELECTRICAL CONTRACTORS MARKET VALUE, MARKET SHARE, AND FORECAST TO 2030
5.1. Europe Electrical Contractors Market Overview, 2021
5.2. Europe Electrical Contractors Market Size and Share Outlook by Product Type, 2021-2030
5.3. Europe Electrical Contractors Market Size and Share Outlook, By Service Type, 2021-2030
5.4. Europe Electrical Contractors Market Size and Share Outlook, By End User, 2021-2030
5.5. Europe Electrical Contractors Market Size and Share Outlook by Country, 2021-2030
5.5.1. Germany
5.5.2. France
5.5.3. UK
5.5.4. Italy
5.5.5. Spain
5.5.6. Rest of Europe

6. ASIA PACIFIC ELECTRICAL CONTRACTORS MARKET VALUE, MARKET SHARE AND FORECAST TO 2030
6.1. Asia Pacific Electrical Contractors Market Overview, 2021
6.2. Asia Pacific Electrical Contractors Market Size and Share Outlook by Product Type, 2021-2030
6.3. Asia Pacific Electrical Contractors Market Size and Share Outlook, By Service Type, 2021-2030
6.4. Asia Pacific Electrical Contractors Market Size and Share Outlook, By End User, 2021-2030
6.5. Asia Pacific Electrical Contractors Market Size and Share Outlook by Country, 2021-2030
6.5.1. China
6.5.2. Japan
6.5.3. India
6.5.4. Rest of Asia Pacific

7. SOUTH AND CENTRAL AMERICA ELECTRICAL CONTRACTORS MARKET VALUE, MARKET SHARE AND FORECAST TO 2030
7.1. South and Central America Electrical Contractors Market Overview, 2021
7.2. South and Central America Electrical Contractors Market Size and Share Outlook by Product Type, 2021-2030
7.3. South and Central America Electrical Contractors Market Size and Share Outlook, By Service Type, 2021-2030
7.4. South and Central America Electrical Contractors Market Size and Share Outlook, By End User, 2021-2030
7.5. South and Central America Electrical Contractors Market Size and Share Outlook by Country, 2021-2030
7.5.1. Brazil
7.5.2. Argentina
7.5.3. Rest of South and Central America

8. MIDDLE EAST AFRICA ELECTRICAL CONTRACTORS MARKET VALUE, MARKET SHARE AND FORECAST TO 2030
8.1. Middle East Africa Electrical Contractors Market Overview, 2021
8.2. Middle East Africa Electrical Contractors Market Size and Share Outlook by Product Type, 2021-2030
8.3. Middle East Africa Electrical Contractors Market Size and Share Outlook, By Service Type, 2021-2030
8.4. Middle East Africa Electrical Contractors Market Size and Share Outlook, By End User, 2021-2030
8.5. Middle East Africa Electrical Contractors Market Size and Share Outlook by Country, 2021-2030
8.5.1. Middle East
8.5.2. Africa

9. ELECTRICAL CONTRACTORS MARKET STRUCTURE
9.1. QUANTA SERVICES
9.2. EMCOR GROUP
9.3. IES HOLDINGS, INC.
9.4. MYR GROUP Inc.
9.5. THE TORO COMPANY
9.6. Wasion Holdings Limited
9.7. Genus Power Infrastructure Ltd.
9.8. ABB Ltd
9.9. Eaton Corporation plc

10. APPENDIX
10.1. About Us
10.2. Sources
10.3. Research Methodology
10.4. Contact Information

   

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Furthermore, the integration of automation in manufacturing and logistics, coupled with advancements in material engineering, is expected to drive innovation and bolster market competitiveness across the region.Asia-Pacific Battery Recycling Market ForecastThe Asia-Pacific Battery Recycling market demonstrated robust progress in 2024, underpinned by rapid industrialization, infrastructural development, and rising adoption of advanced manufacturing solutions across key economies like China, India, and Japan. Anticipated growth from 2025 will be supported by increasing foreign investments, a burgeoning middle class, and government initiatives to boost domestic manufacturing capabilities. The region's competitive landscape is characterized by the presence of both global and regional players focusing on cost-effective innovations and strategic partnerships to expand their footprint. Key drivers include the rising demand for energy-efficient systems, advancements in material science, and the growing emphasis on digitalization in industrial operations.Middle East, Africa, Latin America Battery Recycling Market OverviewThe Middle East, Africa, Latin America Battery Recycling market displayed steady growth in 2024, primarily driven by infrastructural development and industrial modernization in emerging economies across Latin America, the Middle East, and Africa. From 2025 onwards, growth is anticipated to gain momentum, propelled by rising investments in sustainable industrial solutions and the increasing adoption of automation to enhance operational efficiency. The competitive landscape is evolving, with regional players leveraging partnerships and technological advancements to cater to local demands. Key factors supporting market expansion include government initiatives aimed at industrial diversification, the rising focus on energy-efficient systems, and advancements in supply chain technologies.Battery Recycling Market Dynamics and Future AnalyticsThe research analyses the Battery Recycling parent market, derived market, intermediaries’ market, raw material market, and substitute market are all evaluated to better prospect the Battery Recycling market outlook. Geopolitical analysis, demographic analysis, and Porter’s five forces analysis are prudently assessed to estimate the best Battery Recycling market projections.Recent deals and developments are considered for their potential impact on Battery Recycling's future business. Other metrics analyzed include the Threat of New Entrants, Threat of New Substitutes, Product Differentiation, Degree of Competition, Number of Suppliers, Distribution Channel, Capital Needed, Entry Barriers, Govt. Regulations, Beneficial Alternative, and Cost of Substitute in Battery Recycling market.Battery Recycling trade and price analysis helps comprehend Battery Recycling's international market scenario with top exporters/suppliers and top importers/customer information. The data and analysis assist our clients in planning procurement, identifying potential vendors/clients to associate with, understanding Battery Recycling price trends and patterns, and exploring new Battery Recycling sales channels. The research will be updated to the latest month to include the impact of the latest developments such as the Russia-Ukraine war on the Battery Recycling market.Battery Recycling Market Structure, Competitive Intelligence and Key Winning Strategies The report presents detailed profiles of top companies operating in the Battery Recycling market and players serving the Battery Recycling value chain along with their strategies for the near, medium, and long term period.OGAnalysis’ proprietary company revenue and product analysis model unveils the Battery Recycling market structure and competitive landscape. Company profiles of key players with a business description, product portfolio, SWOT analysis, Financial Analysis, and key strategies are covered in the report. It identifies top-performing Battery Recycling products in global and regional markets. New Product Launches, Investment & Funding updates, Mergers & Acquisitions, Collaboration & Partnership, Awards and Agreements, Expansion, and other developments give our clients the Battery Recycling market update to stay ahead of the competition.Company offerings in different segments across Asia-Pacific, Europe, the Middle East, Africa, and South and Central America are presented to better understand the company strategy for the Battery Recycling market. The competition analysis enables users to assess competitor strategies and helps align their capabilities and resources for future growth prospects to improve their market share. Battery Recycling Market Research Scope• Global Battery Recycling market size and growth projections (CAGR), 2024- 2034• Policies of USA New President Trump, Russia-Ukraine War, Israel-Palestine, Middle East Tensions Impact on the Battery Recycling Trade and Supply-chain• Battery Recycling market size, share, and outlook across 5 regions and 27 countries, 2023- 2034• Battery Recycling market size, CAGR, and Market Share of key products, applications, and end-user verticals, 2023- 2034• Short and long-term Battery Recycling market trends, drivers, restraints, and opportunities• Porter’s Five Forces analysis, Technological developments in the Battery Recycling market, Battery Recycling supply chain analysis• Battery Recycling trade analysis, Battery Recycling market price analysis, Battery Recycling supply/demand• Profiles of 5 leading companies in the industry- overview, key strategies, financials, and products• Latest Battery Recycling market news and developmentsThe Battery Recycling Market international scenario is well established in the report with separate chapters on North America Battery Recycling Market, Europe Battery Recycling Market, Asia-Pacific Battery Recycling Market, Middle East and Africa Battery Recycling Market, and South and Central America Battery Recycling Markets. These sections further fragment the regional Battery Recycling market by type, application, end-user, and country. Regional Insights North America Battery Recycling market data and outlook to 2034United StatesCanadaMexicoEurope Battery Recycling market data and outlook to 2034GermanyUnited KingdomFranceItalySpainBeNeLuxRussiaAsia-Pacific Battery Recycling market data and outlook to 2034ChinaJapanIndiaSouth KoreaAustraliaIndonesiaMalaysiaVietnamMiddle East and Africa Battery Recycling market data and outlook to 2034Saudi ArabiaSouth AfricaIranUAEEgyptSouth and Central America Battery Recycling market data and outlook to 2034BrazilArgentinaChilePeru* We can include data and analysis of additional coutries on demandWho can benefit from this researchThe research would help top management/strategy formulators/business/product development/sales managers and investors in this market in the following ways1. The report provides 2024 Battery Recycling market sales data at the global, regional, and key country levels with a detailed outlook to 2034 allowing companies to calculate their market share and analyze prospects, uncover new markets, and plan market entry strategy.2. The research includes the Battery Recycling market split into different types and applications. This segmentation helps managers plan their products and budgets based on the future growth rates of each segment3. The Battery Recycling market study helps stakeholders understand the breadth and stance of the market giving them information on key drivers, restraints, challenges, and growth opportunities of the market and mitigating risks4. This report would help top management understand competition better with a detailed SWOT analysis and key strategies of their competitors, and plan their position in the business5. The study assists investors in analyzing Battery Recycling business prospects by region, key countries, and top companies' information to channel their investments.Available CustomizationsThe standard syndicate report is designed to serve the common interests of Battery Recycling Market players across the value chain and include selective data and analysis from entire research findings as per the scope and price of the publication. However, to precisely match the specific research requirements of individual clients, we offer several customization options to include the data and analysis of interest in the final deliverable.Some of the customization requests are as mentioned below –Segmentation of choice – Our clients can seek customization to modify/add a market division for types/applications/end-uses/processes of their choice. Battery Recycling Pricing and Margins Across the Supply Chain, Battery Recycling Price Analysis / International Trade Data / Import-Export Analysis, Supply Chain Analysis, Supply – Demand Gap Analysis, PESTLE Analysis, Macro-Economic Analysis, and other Battery Recycling market analyticsProcessing and manufacturing requirements, Patent Analysis, Technology Trends, and Product InnovationsFurther, the client can seek customization to break down geographies as per their requirements for specific countries/country groups such as South East Asia, Central Asia, Emerging and Developing Asia, Western Europe, Eastern Europe, Benelux, Emerging and Developing Europe, Nordic countries, North Africa, Sub-Saharan Africa, Caribbean, The Middle East and North Africa (MENA), Gulf Cooperation Council (GCC) or any other.Capital Requirements, Income Projections, Profit Forecasts, and other parameters to prepare a detailed project report to present to Banks/Investment Agencies.Customization of up to 10% of the content can be done without any additional charges.Note: Latest developments will be updated in the report and delivered within 2 to 3 working days

Published:Feb-2025
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