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Current State of the Industry | ||
Market Size (industry trends) | ||
Market Forecast (5-year projection) | ||
Products/Services Breakdown | ||
Revenue per State | ||
Financial Metrics | ||
Salary & Compensation Statistics | ||
Public Company Information | ||
Key Private Companies | ||
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2024 U.S. Industry Statistics & Market Forecast - Electrical Contractors and Other Wiring Installation Contractors
Market Size & Industry Statistics
The total U.S. industry market size for Electrical Contractors and Other Wiring Installation Contractors:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
Statistics | 2019 2020 2021 2022 2023 | |
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Market Size (Total Sales/Revenue) |
Order at top of page | |
Total Firms | ||
Total Employees | ||
Average Revenue Per Firm | ||
Average Employees Per Firm | ||
Average Revenue Per Employee |
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
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Market Forecast ($ millions) | ||||||
Projected Industry Growth Rate (%) |
Industry Insights
The electrical wiring installation contractors industry plays a critical role in the construction, renovation, and maintenance of buildings, infrastructure, and equipment. The industry is currently experiencing several key trends that are shaping its future.Firstly, the industry is witnessing a growth in demand for green and sustainable electrical systems, which are driven by environmental regulations and the increasing focus on energy efficiency. As a result, electrical wiring installation contractors are investing in new technologies such as solar energy, LED lighting, and smart control systems.
Secondly, the industry is facing a shortage of skilled workers and experienced contractors, which is complicating efforts to meet growing customer demands. To address this challenge, many companies are ramping up their recruitment, training, and retention efforts through apprenticeship programs, industry partnerships, and employee engagement initiatives.
Thirdly, the industry is undergoing a digital transformation, with the adoption of new tools and technologies such as Building Information Modelling (BIM), advanced analytics, and remote monitoring. These innovative solutions help contractors streamline their workflows, reduce costs, and improve project outcomes.
Finally, the industry is also witnessing increased competition, driven by the entry of new players and the rise of alternative business models such as modular construction and prefabrication. As a result, many contractors are exploring new markets, diversifying their services, and investing in innovation to stay ahead of the curve.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.Industry Average | Percent of Sales (Industry Benchmark) | |
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Total Revenue | Order at top of page |
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Operating Revenue | ||
Cost of Goods Sold | ||
Gross Profit | ||
Operating Expenses | ||
Pension, profit sharing plans, stock, annuity | ||
Repairs | ||
Rent paid on business property | ||
Charitable Contributions | ||
Depletion | ||
Domestic production activities deduction | ||
Advertising | ||
Compensation of officers | ||
Salaries and wages | ||
Employee benefit programs | ||
Taxes and Licenses | ||
Bad Debts | ||
Depreciation | ||
Amortization | ||
Other Operating Expenses | ||
Total Operating Expenses | ||
Operating Income | ||
Non-Operating Income | ||
EBIT (Earnings Before Interest and Taxes) | ||
Interest Expense | ||
Earnings Before Taxes | ||
Income Tax | ||
Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Electrical Contractors and Other Wiring Installation Contractors company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.Profitability & Valuation Ratios | Industry Average |
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Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Electrical Contractors and Other Wiring Installation Contractors industry is performing. | |
Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Electrical Contractors and Other Wiring Installation Contractors measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
Liquidity Ratios | Industry Average |
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Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
Efficiency Ratios - Key Performance Indicators | Industry Average |
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Measure how quickly products and services sell, and effectively collections policies are implemented. | |
Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
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Management Occupations | 5% | Order at top of page |
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Chief Executives | 0% | |||
General and Operations Managers | 3% | |||
Business and Financial Operations Occupations | 5% | |||
Office and Administrative Support Occupations | 8% | |||
Construction and Extraction Occupations | 66% | |||
Supervisors of Construction and Extraction Workers | 6% | |||
First-Line Supervisors of Construction Trades and Extraction Workers | 6% | |||
First-Line Supervisors of Construction Trades and Extraction Workers | 6% | |||
Construction Trades Workers | 53% | |||
Electricians | 49% | |||
Electricians | 49% | |||
Helpers, Construction Trades | 6% | |||
Helpers, Construction Trades | 6% | |||
Helpers--Electricians | 6% | |||
Installation, Maintenance, and Repair Occupations | 9% |
Electrical Contractors and Other Wiring Installation Contractors Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Electrical Contractors and Other Wiring Installation Contractors industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Electrical Contractors and Other Wiring Installation Contractors industry and adjacent sectors:Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Electrical Contractors and Other Wiring Installation Contractors industry. |
Source:
Innovation News
- Mar 07, 2024: Lumafield patents Method For Automatically Setting Up Computed Tomography Scan Parameters
- Feb 15, 2024: Rosendin Electric patents Connector For A Dc Voltage Connection To A Platform
- Jan 25, 2024: Faith Technologies trademarks "PATH TO SMARTER ENERGY" - Consulting services regarding managing power usage in the nature of energy usage management and energy efficiency; consulting, engineering and design of renewable energy systems; engineering and design services for power management and power storage systems
- Jan 18, 2024: Hiller Companies trademarks "HILLER HAVEN GREEN" - Chemical preparations for use in industry; Chemicals for use in industry; Chemicals for use in industry and science; Fire extinguishing and fire prevention compositions; Fire extinguishing compositions; Fire extinguishing preparations; Fire retardant chemicals; Firefighting foam; Foaming agents; Wetting agents
- Jan 16, 2024: Vine Electric trademarks "VINE ELECTRIC" - Electrical repairs, maintenance, and installation of electrical wiring, outlets, light fixtures, and electrical panels
- Jan 04, 2024: Ayro patents Coating Gradient Property Management For Sustainable Vehicles, Systems, Methods, And Apparatus
- Mar 06, 2023: Gridium raises $2 million in funding.
- Mar 06, 2023: Gridium raises $4 million in funding.
- Nov 28, 2022: Broadway Electric raises $3 million in funding.
Recent Federal Contracts for Electrical Contractors and Other Wiring Installation Contractors- Feb 27, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $20,994
- Feb 27, 2024: HI COUNTRY WIRE & TELEPHONE LTD. (Arvada, CO) awarded $16,160
- Feb 27, 2024: CHESAPEAKE MISSION CRITICAL, L.L.C. (Beltsville, MD) awarded $34,404
- Feb 27, 2024: QUAD J INC (Avon, IN) awarded $320,383
- Feb 27, 2024: SOLUTIONZ VIDEOCONFERENCING INC (Pacific Palisades, CA) awarded $140,688
- Feb 27, 2024: NARDS INC (Mc Lean, VA) awarded $2,500
- Feb 27, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $20,994
- Feb 27, 2024: HI COUNTRY WIRE & TELEPHONE LTD. (Arvada, CO) awarded $16,160
- Feb 27, 2024: CHESAPEAKE MISSION CRITICAL, L.L.C. (Beltsville, MD) awarded $34,404
- Feb 27, 2024: QUAD J INC (Avon, IN) awarded $320,383
- Feb 27, 2024: SOLUTIONZ VIDEOCONFERENCING INC (Pacific Palisades, CA) awarded $140,688
- Feb 27, 2024: NARDS INC (Mc Lean, VA) awarded $2,500
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