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Report
U.S. Electrical Contractors Market - Industry Outlook & Forecast 2024-2029
Market Report I 2024-07-18 I 272 Pages I Arizton Advisory & Intelligence
The U.S. electrical contractors market is expected to grow at a CAGR of 1.29% from 2023 to 2029.
MARKET TRENDS & OPPORTUNITIES
Demand From Data Centers
Electrical contractors play a crucial role in ensuring the reliability and efficiency of facilities, in addition to powering data centers. This includes designing and implementing backup power systems, such as generators and UPSs, to ensure that data centers can continue operating during a power outage. They also design and implement energy-efficient systems, such as power management systems, to reduce data centers' energy consumption. DC Blox has adopted 72 acres of land in Conyers, Georgia, to create a new hyperscale-ready data center campus. At full capacity, the campus is designed to accommodate 750,000 square feet of space and is supported by a total power commitment of 216 MW from Georgia Power. Some electrical contractors expand their service portfolio by providing services to data centers. For instance, Cache Valley Electric is a known and leading critical data center electrical contractor. The company specializes in complex data center construction and maintenance to deliver electrical construction and communication solutions that help make online data secure and accessible. The U.S. electrical contractors market is critical to the data center industry. They provide the necessary expertise and skills to design and maintain electrical systems that power these facilities and ensure their reliability, efficiency, and security.
Demand for Electric Vehicle Charging Infrastructure
The dynamics of the U.S. automotive industry changed over the years. U.S. consumer preferences have changed from internal combustion engine (ICE) vehicles to electric vehicles (EVs) or green vehicles. This is primarily due to the rise in fuel cost, pollution, and overall decline in Electric Vehicles. For instance, the U.S. is the second-highest carbon emitter after China globally. In addition, federal and state governments implement various policies to control the harmful emissions from vehicles, driving the shift from ICE vehicles to EVs. Furthermore, 15 states of the U.S. and the District of Colombia plan to convert 30% and 100% of commercial heavy-duty vehicles (HDVs) to zero-emission vehicles (ZEVs) by 2030 and 2050, respectively. During the first quarter of 2024, sales of EVs reached approximately 350,000 units, representing an increase of nearly 15% compared to the same period the previous year. Overall, in 2024, electric car sales in the U.S. are expected to increase by 20% compared to 2023, amounting to nearly half a million additional sales relative to 2023. However, despite a challenging end to 2023 for electric cars in the U.S., sales will remain strong in 2024. Electrical contractors are mainly licensed professionals to perform electrical work. Therefore, electrical contractors usually hire professional electricians to install EV charging, apply for permits, and meet obligations mainly related to conducting electrical work, including safety requirements. Therefore, the rise in the demand for EV charging infrastructure is majorly driven by a combination of factors, mainly an increase in the number of EVs on the road, government incentives, environmental concerns, consumer convenience, and business opportunities. Thus, the demand will continue to rise as more people adopt EVs as their primary mode of transportation. Also, electrical contractors are mainly licensed professionals to perform electrical work. Therefore, they usually hire professional electricians to install EV charging, apply for permits, and meet obligations mainly related to conducting electrical work, including safety requirements.
INDUSTRY RESTRAINTS
Intense Competition
The U.S. electrical contractors market is experiencing heightened competition due to various factors, making it challenging for companies to maintain and grow their market positions. The rapid pace of technological innovation is a significant driver of competition in the electrical contracting industry. The transition to renewable energy sources, such as solar and wind power, requires contractors to continuously update their skills and expertise. For example, companies like Tesla and Sunrun dominate the solar installation market due to their advanced technology and extensive experience, putting pressure on traditional electrical contractors to keep up or risk being left behind. The industry faces a significant labor shortage, with a growing demand for skilled electricians outpacing the supply. According to the National Electrical Contractors Association (NECA), the shortage is driven by the retirement of experienced electricians and a lack of new entrants into the field. This shortage creates intense competition for skilled labor, forcing companies to offer higher wages and better benefits to attract and retain workers. Smaller firms often struggle to compete with larger companies like Quanta Services, which can afford to provide more attractive compensation packages. Thus, electrical contractors are adopting various strategies to enhance their competitive position. Firms invest in advanced training programs to equip their workforce with the latest skills and certifications. For instance, Rosendin Electric offers extensive training and apprenticeship programs to ensure their employees are proficient in the latest technologies and installation techniques.
SEGMENTATION INSIGHTS
INSIGHT BY SERVICE
The U.S. electrical contractors market by services is segmented into electrical, telecommunication, fire & safety, electrical control, highway, and others. In 2023, the electrical service segment dominated the U.S. market share. A rise in EV charging infrastructure is expected to boost the market during the forecast period. In addition, increased construction and renovation activities in residential and commercial spaces increase the demand for electrical contractors in the market. Moreover, the demand for electricity from the transportation industry is also expected to boost the demand for electrical contractor services. Huge construction networks of highways, railroads, processing plants, & others support the delivery of resources to generate services depending on electrical power and electricity. Hence, contractors play a major role in the processing and planning of electricity generation.
Segmentation by Services
- Electrical
- Telecommunication
- Fire & Safety
- Electrical Control
- Highway
- Others
INSIGHT BY APPLICATION
The new construction application held the most significant share of the U.S. electrical contractors market in 2023. The surge in construction activities, rapid infrastructural development, and government initiatives to construct new buildings will propel the demand for electrical contractor services during the forecast period. Moreover, the construction of new non-residential spaces, including healthcare, offices, industrial, commercial, and transportation, also increased after the pandemic period. This drives the demand for services from electrical contractors, mainly for installation, wiring, and other things. Furthermore, the demand for renovation or maintenance from the residential sector is expected to be a major growth driver for the U.S. electrical contractors market.
Segmentation by Application
- New Construction
- Renovation or Maintenance
INSIGHT BY END-USE
The U.S. electrical contractors market by end-use is segmented into outside, inside (residential, commercial, and industrial), and integrated building systems. In 2023, the outside segment dominated the market, accounting for an incremental growth of over USD 9 billion. The outside electrical contractors mainly manage systems outside the building, including line workers who provide electrical and telecommunication services through transmission and distribution lines. Some major vendors who provide outside or line services include Quanta Services, Rosendin Electric, PLH Group, Hot Line Construction, MasTec, and Power Line Contractors. Further, inside electrical contractors mainly manage electrical systems within or inside buildings, including light fixtures and electrical outlets, which are integral to building interiors. Also, the inside segment is sub-segmented into residential, commercial, and industrial. Integrated building contractors usually manage the electrical components of integrated systems, mainly climate control, access, lighting, networks, and others.
Segmentation by End-use
- Outside
- Inside
- Residential
- Commercial
- Industrial
- Integrated Building System
GEOGRAPHICAL ANALYSIS
The U.S. electrical contractors market is poised for substantial growth, driven by several key economic indicators. In 2023, South U.S. dominated the U.S. electrical contractors market, accounting for over 37% share by revenue. The U.S. population is largely tech-savvy and well aware of the benefits of modern technologies and smart services in terms of convenience and aesthetics. Consequently, the adoption rate of contractor services is high. Various sectors, including residential and commercial construction and institutional projects, drive the demand for electrical contractors. The electrical contracting market stands to gain significantly from a strong economy, a robust labor market, and moderate inflation. With the expansion of construction activities across residential, commercial, and industrial sectors, electrical contractors are presented with ample opportunities for growth and innovation. By staying informed about market trends and harnessing technological advancements, contractors can effectively navigate potential challenges and position themselves for success in a dynamic business landscape.
Segmentation by Region
The U.S.
South
West
Midwest
Northeast
COMPETITIVE LANDSCAPE
The U.S. electrical contractors market is highly fragmented, with several vendors operating. Quanta Services, MYR Group, ArchKey Solutions, EMCOR Group, MasTec, and more have a sizeable local presence and major U.S. electrical contractors market vendors. The industry witnesses a sudden increase in electrical contractors. Several companies specialize in a limited number of services or cater only to one end-user segment. In addition, many vendors prefer skilled employees, mainly those with an electrical background. Thus, most employees need significant training, which further increases entry barriers.
In the U.S. electrical contractors industry, vendors differentiate themselves based on their range of service offerings, brand reputation, ability to customize solutions, pricing, skilled workforce, and technological capabilities. Many vendors provide comprehensive assistance portals and management services, collaborating with other entities in the electrical sector, such as those involved in transmission, distribution, substation, and Building Information Modeling (BIM) to offer a holistic corporate assistance program. Additionally, vendors frequently partner with technology companies to develop and enhance these assistance programs, ensuring they stay competitive and responsive to market demands.
Key Company Profiles
- Quanta Services
- MYR Group
- MDU Resources Group
- IES Holdings
- EMCOR
- MasTec
Other Prominent Vendors
- ABM
- Aldridge
- American Electrical Contracting
- ArchKey Solutions
- Bergelectric
- Cache Valley Electric
- Cleveland Electric
- Collins Electrical Company
- Comfort Systems USA
- Commonwealth Electric Company
- Crete Mechanical Group (CMG)
- Cupertino Electric
- EC Electric
- E-J Electric Installation
- Facility Solutions Group
- Faith Technologies
- Five Star Electric
- Gaylor Electric
- Helix Electric
- Henkels & McCoy
- Hilscher-Clarke
- Hunt Electric
- Inglett & Stubbs
- J.F. Electric
- M.C. Dean
- Mid South Contractors
- Miller Electric Company
- MMR Group
- New England Electrical Contracting
- O'Connell Electric Company
- Power Design
- Redwood Electric Group
- RESA Power
- Rogers Electric
- Rosendin Electric
- SunGrid Solutions
- The Newtron Group
- Tri-City Electric
- Wachter
- Wayne J. Griffin Electric
KEY QUESTIONS ANSWERED:
1. How big is the U.S. electrical contractors market?
2. What is the growth rate of the U.S. electrical contractors market?
3. Who are the key players in the U.S. electrical contractors market?
4. What are the significant trends in the U.S. electrical contractors industry?
5. Which region dominates the U.S. electrical contractors market share?
1. SCOPE & COVERAGE
1.1. MARKET DEFINITION
1.1.1. INCLUSIONS
1.1.2. EXCLUSIONS
1.1.3. MARKET ESTIMATION CAVEATS
1.2. SEGMENTS COVERED & DEFINITION
1.2.1. MARKET SEGMENTATION BY SERVICE
1.2.2. MARKET SEGMENTATION BY APPLICATION
1.2.3. MARKET SEGMENTATION BY END-USER
1.2.4. MARKET SEGMENTATION BY INSIDE END-USER
1.2.5. REGIONS COVERED
1.3. MARKET DERIVATION
1.3.1. HISTORIC, BASE, & FORECAST YEARS
2. PREMIUM INSIGHTS
2.1. OPPORTUNITY POCKETS
2.1.1. MARKET MATURITY INDICATOR
2.1.2. REGIONAL INSIGHTS
2.1.3. MARKET DEFINITION
2.1.4. REPORT OVERVIEW
2.1.5. OPPORTUNITIES AND CHALLENGES ANALYSIS
2.1.6. SEGMENT ANALYSIS
2.1.7. REGIONAL ANALYSIS
2.1.8. COMPETITIVE LANDSCAPE
2.1.9. KEY QUESTIONS ANSWERED IN THE REPORT
3. MARKET AT A GLANCE
4. INTRODUCTION
4.1. OVERVIEW
4.1.1. NATIONAL ELECTRICAL CONTRACTORS ASSOCIATION (NECA)
4.1.2. REGULATIONS
4.1.3. KEY FACTORS IMPACTING THE MARKET
4.1.4. RISK FACTORS
4.2. MERGERS & ACQUISITIONS
4.3. OVERALL ELECTRICAL INDUSTRY
4.4. OVERALL CONSTRUCTION INDUSTRY
4.5. VALUE CHAIN ANALYSIS
5. MARKET OPPORTUNITIES & TRENDS
5.1. DEMAND FROM DATA CENTERS
5.2. SHIFTING PREFERENCES TOWARD CLEAN ENERGY
6. MARKET GROWTH ENABLERS
6.1. GROWING ADOPTION OF 5G TECHNOLOGY ACROSS INDUSTRIES
6.2. DEMAND FOR EV CHARGING INFRASTRUCTURE
6.3. INFRASTRUCTURE DEVELOPMENT
6.4. INCREASED RENOVATION ACTIVITIES
6.5. GROWING ADOPTION OF AI & CLEAN TECH MANUFACTURING
7. MARKET RESTRAINTS
7.1. SHORTAGE OF SKILLED LABOR
7.2. VOLATILITY IN RAW MATERIAL PRICES
7.3. SUPPLY CHAIN DISRUPTIONS
7.4. INTENSE COMPETITION
8. MARKET LANDSCAPE
8.1. MARKET OVERVIEW
8.2. MARKET SIZE & FORECAST
8.3. SERVICE
8.3.1. MARKET SIZE & FORECAST
8.4. APPLICATION
8.4.1. MARKET SIZE & FORECAST
8.5. END-USE
8.5.1. MARKET SIZE & FORECAST
8.6. INSIDE END-USE
8.6.1. MARKET SIZE & FORECAST
8.7. FIVE FORCES ANALYSIS
8.7.1. THREAT OF NEW ENTRANTS
8.7.2. BARGAINING POWER OF SUPPLIERS
8.7.3. BARGAINING POWER OF BUYERS
8.7.4. THREAT OF SUBSTITUTES
8.7.5. COMPETITIVE RIVALRY
9. SERVICE
9.1. MARKET SNAPSHOT & GROWTH ENGINE
9.2. MARKET OVERVIEW
9.3. ELECTRICAL
9.3.1. MARKET OVERVIEW
9.3.2. MARKET SIZE & FORECAST
9.4. TELECOMMUNICATION
9.4.1. MARKET OVERVIEW
9.4.2. MARKET SIZE & FORECAST
9.5. FIRE & SAFETY
9.5.1. MARKET OVERVIEW
9.5.2. MARKET SIZE & FORECAST
9.6. ELECTRICAL CONTROL
9.6.1. MARKET OVERVIEW
9.6.2. MARKET SIZE & FORECAST
9.7. HIGHWAY
9.7.1. MARKET OVERVIEW
9.7.2. MARKET SIZE & FORECAST
9.8. OTHERS
9.8.1. MARKET OVERVIEW
9.8.2. MARKET SIZE & FORECAST
10. APPLICATION
10.1. MARKET SNAPSHOT & GROWTH ENGINE
10.2. MARKET OVERVIEW
10.3. NEW CONSTRUCTION
10.3.1. MARKET OVERVIEW
10.3.2. MARKET SIZE & FORECAST
10.4. RENOVATION OR MAINTENANCE
10.4.1. MARKET OVERVIEW
10.4.2. MARKET SIZE & FORECAST
11. END-USE
11.1. MARKET SNAPSHOT & GROWTH ENGINE
11.2. MARKET OVERVIEW
11.3. OUTSIDE
11.3.1. MARKET OVERVIEW
11.3.2. MARKET SIZE & FORECAST
11.4. INSIDE
11.4.1. MARKET OVERVIEW
11.4.2. MARKET SIZE & FORECAST
11.4.3. RESIDENTIAL: MARKET SIZE & FORECAST
11.4.4. COMMERCIAL: MARKET SIZE & FORECAST
11.4.5. INDUSTRIAL: MARKET SIZE & FORECAST
11.5. INTEGRATED BUILDING SYSTEM
11.5.1. MARKET OVERVIEW
11.5.2. MARKET SIZE & FORECAST
12. REGION
12.1. MARKET SNAPSHOT & GROWTH ENGINE
12.2. REGIONAL OVERVIEW
13. SOUTH
13.1. MARKET OVERVIEW
13.2. MARKET SIZE & FORECAST
13.3. TEXAS
13.3.1. LIST OF ELECTRICAL CONTRACTORS IN TEXAS
13.4. FLORIDA
13.4.1. LIST OF ELECTRICAL CONTRACTORS IN FLORIDA
14. WEST
14.1. MARKET OVERVIEW
14.2. MARKET SIZE & FORECAST
14.3. CALIFORNIA
14.3.1. LIST OF ELECTRICAL CONTRACTORS IN CALIFORNIA
14.4. WASHINGTON
14.4.1. LIST OF ELECTRICAL CONTRACTORS IN WASHINGTON
15. MIDWEST
15.1. MARKET OVERVIEW
15.2. MARKET SIZE & FORECAST
15.3. ILLINOIS
15.3.1. LIST OF ELECTRICAL CONTRACTORS IN ILLINOIS
15.4. MICHIGAN
15.4.1. LIST OF ELECTRICAL CONTRACTORS IN MICHIGAN
16. NORTHEAST
16.1. MARKET OVERVIEW
16.2. MARKET SIZE & FORECAST
16.3. MASSACHUSETTS
16.3.1. LIST OF ELECTRICAL CONTRACTORS IN MASSACHUSETTS
16.4. NEW YORK
16.4.1. LIST OF ELECTRICAL CONTRACTORS IN NEW YORK
17. COMPETITIVE LANDSCAPE
17.1. COMPETITION OVERVIEW
17.2. MARKET SHARE ANALYSIS
18. KEY COMPANY PROFILES
18.1. QUANTA SERVICES
18.1.1. BUSINESS OVERVIEW
18.1.2. SERVICE OFFERINGS
18.1.3. KEY STRATEGIES
18.1.4. KEY STRENGTHS
18.1.5. KEY OPPORTUNITIES
18.2. MYR GROUP
18.2.1. BUSINESS OVERVIEW
18.2.2. SERVICE OFFERINGS
18.2.3. KEY STRATEGIES
18.2.4. KEY STRENGTHS
18.2.5. KEY OPPORTUNITIES
18.3. MDU RESOURCES GROUP
18.3.1. BUSINESS OVERVIEW
18.3.2. SERVICE OFFERINGS
18.3.3. KEY STRATEGIES
18.3.4. KEY STRENGTHS
18.3.5. KEY OPPORTUNITIES
18.4. IES HOLDINGS
18.4.1. BUSINESS OVERVIEW
18.4.2. SERVICE OFFERINGS
18.4.3. KEY STRATEGIES
18.4.4. KEY STRENGTHS
18.4.5. KEY OPPORTUNITIES
18.5. EMCOR GROUP
18.5.1. BUSINESS OVERVIEW
18.5.2. SERVICE OFFERINGS
18.5.3. KEY STRATEGIES
18.5.4. KEY STRENGTHS
18.5.5. KEY OPPORTUNITIES
18.6. MASTEC
18.6.1. BUSINESS OVERVIEW
18.6.2. SERVICE OFFERINGS
18.6.3. KEY STRATEGIES
18.6.4. KEY STRENGTHS
18.6.5. KEY OPPORTUNITIES
19. OTHER PROMINENT VENDORS
19.1. ABM
19.1.1. BUSINESS OVERVIEW
19.1.2. SERVICE OFFERINGS
19.2. ALDRIDGE
19.2.1. BUSINESS OVERVIEW
19.2.2. SERVICE OFFERINGS
19.3. AMERICAN ELECTRICAL CONTRACTING
19.3.1. BUSINESS OVERVIEW
19.3.2. SERVICE OFFERINGS
19.4. ARCHKEY SOLUTIONS
19.4.1. BUSINESS OVERVIEW
19.4.2. SERVICE OFFERINGS
19.5. BERGELECTRIC
19.5.1. BUSINESS OVERVIEW
19.5.2. SERVICE OFFERINGS
19.6. CACHE VALLEY ELECTRIC
19.6.1. BUSINESS OVERVIEW
19.6.2. SERVICE OFFERINGS
19.7. CLEVELAND ELECTRIC
19.7.1. BUSINESS OVERVIEW
19.7.2. SERVICE OFFERINGS
19.8. COLLINS ELECTRICAL COMPANY
19.8.1. BUSINESS OVERVIEW
19.8.2. SERVICE OFFERINGS
19.9. COMFORT SYSTEMS USA
19.9.1. BUSINESS OVERVIEW
19.9.2. SERVICE OFFERINGS
19.10. COMMONWEALTH ELECTRIC COMPANY
19.10.1. BUSINESS OVERVIEW
19.10.2. SERVICE OFFERINGS
19.11. CRETE MECHANICAL GROUP (CMG)
19.11.1. BUSINESS OVERVIEW
19.11.2. SERVICE OFFERINGS
19.12. CUPERTINO ELECTRIC INC.
19.12.1. BUSINESS OVERVIEW
19.12.2. SERVICE OFFERINGS
19.13. EC ELECTRIC
19.13.1. BUSINESS OVERVIEW
19.13.2. SERVICE OFFERINGS
19.14. E-J ELECTRIC INSTALLATION
19.14.1. BUSINESS OVERVIEW
19.14.2. SERVICE OFFERINGS
19.15. FACILITY SOLUTIONS GROUP(FSG)
19.15.1. BUSINESS OVERVIEW
19.15.2. SERVICE OFFERINGS
19.16. FAITH TECHNOLOGIES
19.16.1. BUSINESS OVERVIEW
19.16.2. SERVICE OFFERINGS
19.17. FIVE STAR ELECTRIC
19.17.1. BUSINESS OVERVIEW
19.17.2. SERVICE OFFERINGS
19.18. GAYLOR ELECTRIC
19.18.1. BUSINESS OVERVIEW
19.18.2. SERVICE OFFERINGS
19.19. HELIX ELECTRIC
19.19.1. BUSINESS OVERVIEW
19.19.2. SERVICE OFFERINGS
19.20. HENKELS & MCCOY
19.20.1. BUSINESS OVERVIEW
19.20.2. SERVICE OFFERINGS
19.21. HILSCHER-CLARKE
19.21.1. BUSINESS OVERVIEW
19.21.2. SERVICE OFFERINGS
19.22. HUNT ELECTRIC
19.22.1. BUSINESS OVERVIEW
19.22.2. SERVICE OFFERINGS
19.23. INGLETT & STUBBS
19.23.1. BUSINESS OVERVIEW
19.23.2. SERVICE OFFERINGS
19.24. J.F. ELECTRIC
19.24.1. BUSINESS OVERVIEW
19.24.2. SERVICE OFFERINGS
19.25. M.C.DEAN
19.25.1. BUSINESS OVERVIEW
19.25.2. SERVICE OFFERINGS
19.26. MID SOUTH CONTRACTORS
19.26.1. BUSINESS OVERVIEW
19.26.2. SERVICE OFFERINGS
19.27. MILLER ELECTRIC COMPANY
19.27.1. BUSINESS OVERVIEW
19.27.2. SERVICE OFFERINGS
19.28. MMR GROUP
19.28.1. BUSINESS OVERVIEW
19.28.2. SERVICE OFFERINGS
19.29. NEW ENGLAND ELECTRICAL CONTRACTING
19.29.1. BUSINESS OVERVIEW
19.29.2. SERVICE OFFERINGS
19.30. O'CONNELL ELECTRIC COMPANY
19.30.1. BUSINESS OVERVIEW
19.30.2. SERVICE OFFERINGS
19.31. POWER DESIGN
19.31.1. BUSINESS OVERVIEW
19.31.2. SERVICE OFFERINGS
19.32. REDWOOD ELECTRIC GROUP
19.32.1. BUSINESS OVERVIEW
19.32.2. SERVICE OFFERINGS
19.33. RESA POWER
19.33.1. BUSINESS OVERVIEW
19.33.2. SERVICE OFFERINGS
19.34. ROGERS ELECTRIC
19.34.1. BUSINESS OVERVIEW
19.34.2. SERVICE OFFERINGS
19.35. ROSENDIN ELECTRIC
19.35.1. BUSINESS OVERVIEW
19.35.2. SERVICE OFFERINGS
19.36. SUNGRID SOLUTIONS
19.36.1. BUSINESS OVERVIEW
19.36.2. SERVICE OFFERINGS
19.37. THE NEWTRON GROUP
19.37.1. BUSINESS OVERVIEW
19.37.2. SERVICE OFFERINGS
19.38. TRI-CITY ELECTRIC
19.38.1. BUSINESS OVERVIEW
19.38.2. SERVICE OFFERINGS
19.39. WACHTER
19.39.1. BUSINESS OVERVIEW
19.39.2. SERVICE OFFERINGS
19.40. WAYNE J GRIFFIN ELECTRIC
19.40.1. BUSINESS OVERVIEW
19.40.2. SERVICE OFFERINGS
20. REPORT SUMMARY
20.1. KEY TAKEAWAYS
20.2. STRATEGIC RECOMMENDATIONS
21. QUANTITATIVE SUMMARY
21.1. MARKET BY REGION
21.2. SERVICE
21.3. APPLICATION
21.4. END-USE
21.5. INSIDE END-USE
22. APPENDIX
22.1. RESEARCH METHODOLOGY
22.2. RESEARCH PROCESS
22.3. REPORT ASSUMPTIONS & CAVEATS
22.3.1. KEY CAVEATS
22.3.2. CURRENCY CONVERSION
22.4. ABBREVIATIONS
LIST OF EXHIBITS
EXHIBIT 1 MARKET SIZE CALCULATION APPROACH 2023
EXHIBIT 2 KEY METRICS IMPACTING INDUSTRY PERFORMANCE
EXHIBIT 3 EMERGING TECHNOLOGICAL TRENDS FOR ELECTRICAL CONTRACTORS
EXHIBIT 4 LIFE CYCLE OF ELECTRICAL INSTALLATION
EXHIBIT 5 MAJOR ROLES OF NECA
EXHIBIT 6 BENEFITS OF NECA MEMBERSHIP
EXHIBIT 7 MAJOR NECA ASSOCIATIONS
EXHIBIT 8 KEY FACTORS INFLUENCING THE MARKET
EXHIBIT 9 FACTORS IMPACTING ELECTRICAL CONTRACTORS MARKET
EXHIBIT 10 MAIN ACTIVITIES IN ELECTRICAL INDUSTRY
EXHIBIT 11 MAJOR PRODUCTS OR SERVICES IN ELECTRICAL INDUSTRY
EXHIBIT 12 OVERALL US CONSTRUCTION, 2023 ($ MILLION)
EXHIBIT 13 VALUE CHAIN ANALYSIS
EXHIBIT 14 IMPACT OF DEMAND FROM DATA CENTERS
EXHIBIT 15 MAJOR SERVICES OFFERED BY ELECTRICAL CONTRACTORS
EXHIBIT 16 IMPACT OF SHIFTING PREFERENCES TOWARD CLEAN ENERGY
EXHIBIT 17 MAJOR DRIVERS OF ENERGY DEMAND
EXHIBIT 18 IMPACT OF GROWING ADOPTION OF 5G TECHNOLOGY ACROSS INDUSTRIES
EXHIBIT 19 ADOPTION OF 5G SPECTRUM IN INDUSTRIES
EXHIBIT 20 TECHNOLOGICAL UPGRADING ACROSS THE US (2022 VS 2023) (%)
EXHIBIT 21 IMPACT OF DEMAND FOR EV CHARGING INFRASTRUCTURE
EXHIBIT 22 EV CHARGING STATIONS AND CHARGING OUTLET INFRASTRUCTURE IN US, 2018-2023 (NUMBERS)
EXHIBIT 23 KEY RESPONSIBILITY OF ELECTRICAL CONTRACTORS FOR INSTALLING EV CHARGING INFRASTRUCTURES
EXHIBIT 24 IMPACT OF INFRASTRUCTURE DEVELOPMENT
EXHIBIT 25 KEY FACTORS DRIVING INFRASTRUCTURE DEVELOPMENT
EXHIBIT 26 IMPACT OF INCREASED RENOVATION ACTIVITIES
EXHIBIT 27 KEY DRIVERS FOR INCREASED RENOVATION ACTIVITIES
EXHIBIT 28 IMPACT OF GROWING ADOPTION OF AI & CLEAN TECH MANUFACTURING
EXHIBIT 29 US DATA CENTERS ENERGY DEMAND, 2019-2029 (GIGAWATTS)
EXHIBIT 30 IMPACT OF SHORTAGE OF SKILLED LABOR
EXHIBIT 31 CAUSES OF SKILLED LABOR SHORTAGE
EXHIBIT 32 IMPACT OF VOLATILITY IN RAW MATERIAL PRICES
EXHIBIT 33 SEVERAL FACTORS AFFECTING ELECTRICAL CONTRACTORS
EXHIBIT 34 ANNUAL RATE OF PRODUCER PRICE INDEX FOR COPPER WIRE, CABLE, AND EXTRUDED ALUMINUM SHAPES
EXHIBIT 35 IMPACT OF SUPPLY CHAIN DISRUPTIONS
EXHIBIT 36 IMPACT OF INTENSE COMPETITION
EXHIBIT 37 US ELECTRICAL CONTRACTORS MARKET 2023-2029 ($ BILLION)
EXHIBIT 38 FIVE FORCES ANALYSIS 2023
EXHIBIT 39 INCREMENTAL GROWTH BY SERVICE 2023 & 2029
EXHIBIT 40 US ELECTRICAL CONTRACTORS MARKEY BY SERVICE ($ BILLION)
EXHIBIT 41 FLOW CHART OF ELECTRICITY SUPPLY CHAIN
EXHIBIT 42 MAIN ACTIVITIES IN THE ELECTRICAL INDUSTRY
EXHIBIT 43 US ELECTRICAL SERVICE CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 44 MAJOR ELECTRICAL CONTRACTORS IN TELECOMMUNICATION SERVICE
EXHIBIT 45 CAPABILITIES OF ELECTRICAL CONTRACTORS
EXHIBIT 46 US ELECTRICAL TELECOMMUNICATION SERVICE CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 47 US ELECTRICAL FIRE & SAFETY SERVICE CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 48 KEY FUNCTIONS OF ELECTRICAL CONTROL
EXHIBIT 49 US ELECTRICAL CONTROL SERVICE CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 50 US HIGHWAY BRIDGES (NUMBERS), 2012-2023
EXHIBIT 51 US ELECTRICAL HIGHWAY SERVICE CONTRACTORS MARKET BY 2020-2029 ($ BILLION)
EXHIBIT 52 US OTHER ELECTRICAL SERVICES CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 53 INCREMENTAL GROWTH BY APPLICATION 2023 & 2029
EXHIBIT 54 US ELECTRICAL CONTRACTORS MARKET BY APPLICATION ($ BILLION)
EXHIBIT 55 KEY FACTORS DRIVING OPPORTUNITIES FOR ELECTRICAL CONTRACTORS
EXHIBIT 56 US NEW CONSTRUCTION ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 57 INDICATORS OF LEADING REMODELING ACTIVITY
EXHIBIT 58 US RENOVATION OR MAINTENANCE ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 59 INCREMENTAL GROWTH BY END-USE 2023 & 2029
EXHIBIT 60 US ELECTRICAL CONTRACTORS MARKET BY END-USE ($ BILLION)
EXHIBIT 61 MAJOR TYPES OF ELECTRICAL CONTRACTORS
EXHIBIT 62 US OUTSIDE ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 63 US INSIDE ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 64 US RESIDENTIAL ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 65 US COMMERCIAL ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 66 US INDUSTRIAL ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 67 FORMS OF INTEGRATED BUILDING SYSTEMS
EXHIBIT 68 US INTEGRATED BUILDING SYSTEM ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 69 INCREMENTAL GROWTH BY REGION 2023 & 2029
EXHIBIT 70 US SOUTH ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 71 KEY FACTORS DRIVING ELECTRICAL CONTRACTORS IN TEXAS
EXHIBIT 72 KEY FACTORS DRIVING ELECTRICAL CONTRACTORS IN FLORIDA
EXHIBIT 73 US WEST ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 74 US MIDWEST ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 75 US NORTHEAST ELECTRICAL CONTRACTORS MARKET 2020-2029 ($ BILLION)
EXHIBIT 76 KEY PROJECT BY VENDORS
EXHIBIT 77 US ELECTRICAL CONTRACTORS MARKET BY PLAYERS 2023 (% SHARE)
EXHIBIT 78 KEY CAVEATS
LIST OF TABLES
TABLE 1 RECENT MERGERS & ACQUISITIONS IN ELECTRICAL INDUSTRY
TABLE 2 ANNOUNCED US CLEAN ENERGY PROJECTS (SECTOR), 2023
TABLE 3 US ELECTRICIANS PROJECTED NUMBER BY INDUSTRY, 2030
TABLE 4 US ELECTRICAL CONTRACTORS MARKET BY SERVICE 2023?2029 ($ BILLION)
TABLE 5 US ELECTRICAL CONTRACTORS MARKET BY APPLICATION 2023?2029 ($ BILLION)
TABLE 6 US ELECTRICAL CONTRACTORS MARKET BY END-USE 2023?2029 ($ BILLION)
TABLE 7 US ELECTRICAL CONTRACTORS MARKET BY INSIDE END-USE 2023?2029 ($ BILLION)
TABLE 8 ELECTRICAL CONTRACTORS IN TEXAS
TABLE 9 ELECTRICAL CONTRACTORS IN FLORIDA
TABLE 10 ELECTRICAL CONTRACTORS IN CALIFORNIA
TABLE 11 ELECTRICAL CONTRACTORS IN WASHINGTON
TABLE 12 ELECTRICAL CONTRACTORS IN ILLINOIS
TABLE 13 ELECTRICAL CONTRACTORS IN MICHIGAN
TABLE 14 ELECTRICAL CONTRACTORS IN MASSACHUSETTS
TABLE 15 ELECTRICAL CONTRACTORS IN NEW YORK
TABLE 16 QUANTA SERVICES: MAJOR SERVICE OFFERINGS
TABLE 17 MYR GROUP: MAJOR SERVICE OFFERINGS
TABLE 18 MDU RESOURCES GROUP: MAJOR SERVICE OFFERINGS
TABLE 19 IES HOLDINGS: MAJOR SERVICE OFFERINGS
TABLE 20 EMCOR GROUP: MAJOR SERVICE OFFERINGS
TABLE 21 MASTEC: MAJOR SERVICE OFFERINGS
TABLE 22 ABM: MAJOR SERVICE OFFERINGS
TABLE 23 ALDRIDGE: MAJOR SERVICE OFFERINGS
TABLE 24 AMERICAN ELECTRICAL CONTRACTING: MAJOR SERVICE OFFERINGS
TABLE 25 ARCHKEY SOLUTIONS: MAJOR SERVICE OFFERINGS
TABLE 26 BERGELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 27 CACHE VALLEY ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 28 CLEVELAND ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 29 COLLINS ELECTRICAL COMPANY: MAJOR SERVICE OFFERINGS
TABLE 30 COMFORT SYSTEMS USA: MAJOR SERVICE OFFERINGS
TABLE 31 COMMONWEALTH ELECTRIC COMPANY: MAJOR SERVICE OFFERINGS
TABLE 32 CRETE MECHANICAL GROUP (CMG): MAJOR SERVICE OFFERINGS
TABLE 33 CUPERTINO ELECTRIC INC.: MAJOR SERVICE OFFERINGS
TABLE 34 EC ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 35 E-J ELECTRIC INSTALLATION: MAJOR SERVICE OFFERINGS
TABLE 36 FACILITY SOLUTIONS GROUP (FSG): MAJOR SERVICE OFFERINGS
TABLE 37 FAITH TECHNOLOGIES: MAJOR SERVICE OFFERINGS
TABLE 38 FIVE STAR ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 39 GAYLOR ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 40 HELIX ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 41 HENKELS & MCCOY: MAJOR SERVICE OFFERINGS
TABLE 42 HILSCHER-CLARKE: MAJOR SERVICE OFFERINGS
TABLE 43 HUNT ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 44 INGLETT & STUBBS: MAJOR SERVICE OFFERINGS
TABLE 45 J.F. ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 46 M.C. DEAN: MAJOR SERVICE OFFERINGS
TABLE 47 MID SOUTH CONTRACTORS: MAJOR SERVICE OFFERINGS
TABLE 48 MILLER ELECTRIC COMPANY: MAJOR SERVICE OFFERINGS
TABLE 49 MMR GROUP: MAJOR SERVICE OFFERINGS
TABLE 50 NEW ENGLAND ELECTRICAL CONTRACTING: MAJOR SERVICE OFFERINGS
TABLE 51 O'CONNELL ELECTRIC COMPANY: MAJOR SERVICE OFFERINGS
TABLE 52 POWER DESIGN: MAJOR SERVICE OFFERINGS
TABLE 53 REDWOOD ELECTRIC GROUP: MAJOR SERVICE OFFERINGS
TABLE 54 RESA POWER: MAJOR SERVICE OFFERINGS
TABLE 55 ROGERS ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 56 ROSENDIN ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 57 SUNGRID SOLUTIONS: MAJOR SERVICE OFFERINGS
TABLE 58 THE NEWTRON GROUP: MAJOR SERVICE OFFERINGS
TABLE 59 TRI-CITY ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 60 WACHTER: MAJOR SERVICE OFFERINGS
TABLE 61 WAYNE J GRIFFIN ELECTRIC: MAJOR SERVICE OFFERINGS
TABLE 62 US ELECTRICAL CONTRACTORS MARKET BY REGION 2023?2029 ($ BILLION)
TABLE 63 US ELECTRICAL CONTRACTORS MARKET BY REGION 2023?2029 (%)
TABLE 64 US ELECTRICAL CONTRACTORS MARKET BY SERVICE 2023?2029 ($ BILLION)
TABLE 65 US ELECTRICAL CONTRACTORS MARKET BY APPLICATION 2023?2029 ($ BILLION)
TABLE 66 US ELECTRICAL CONTRACTORS MARKET BY END-USE 2023?2029 ($ BILLION)
TABLE 67 US ELECTRICAL CONTRACTORS MARKET BY INSIDE END-USE 2023?2029 ($ BILLION)
TABLE 68 CURRENCY CONVERSION 2017?2023
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