U.S. Electrical Services Market Outlook Industry Analysis, Size, Share, Growth, Trends and Forecast 2027

Maintenance and repair services foster U.S. electrical services industry

The electrical services market share in the U.S. grows every year. Industrialization in different parts of the region has supplemented the need for reliable and continuous supply of electricity to ensure the continuation of operations. According to a report by the U.S. Energy Information Administration, in 2020, the net generation of electricity in the U.S. stood at 4.01 trillion kWh.

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Grid modernization along with the development of decentralized grid network has supported growth and development in electrical services. The increase in carbon dioxide levels across the globe has supported the need to adopt energy efficient infrastructure that are cleaner. The increase in disposable income followed by the developments in residential and commercial sector has propelled the need for construction to meet the expansion needs. According to Associated General Contractors of America, the region constructs nearly USD 1.3 trillion worth of structures annually.

It has been estimated that U.S. electrical service industry size will reach USD 177.8 billion by 2027, with robust need for new infrastructure as well as maintenance and repair services.

Evolving residential sector: High purchasing power among the people in the region along with the need for modern homes has driven the developments in the U.S. residential industry. As per the United States Census Bureau, the total housing completions in the region as of May 2021 were recorded at over 1.36 million.

There are investments made by public and private entities to expand the housing solutions in the U.S. and to meet the increasing housing demands of the people that are affordable. For instance, in May’21 American Canyon’s proposed Watson Ranch community development project slated to be completed by 2023 is expected to have a 186-unit apartment complex and 184 units for low-income renters further developing the residential sector of the U.S.

Many leading construction companies are aiming at the integration of renewables across the facilities due to strict efficiency rules and targets established by the governmental authorities. According to a report by the United States Environmental Protection Agency, in the year 2019, commercial and residential sector accounted for 13% of the total GHG emissions in the U.S.

To limit the same the authorities have established certain rules with respect to the use of energy efficient sources of electricity. The market for electrical constriction and technical services will be profound with expanding end-user base.

Need for electrical maintenance and repair: Frequent need for maintenance and repair across the U.S. has fueled the investments in electrical services sector due to the increasing cases of electrical supply faults, fire and various other operational hazards. The constantly rising load on equipment has immensely affected the transmission and distribution networks. The absence of a modern electrical infrastructure coupled with the rising inclination towards the improvement of prevailing network will positively influence the electrical maintenance and repair services adoption.

U.S. electrical services market comprises of many leading companies that are striving to offer sustainable and reliable energy solutions. These market players are joining hands with the government and other private companies to support the development and provision of advanced electrical services. In March 2021, Volt Power announced the purchase of DD Grid and One Shot Reliability to expand the companies abilities across transmission, distribution and substation operations.

Some of the leading electrical service providers in the U.S. include MMR Group, Facility Solution Group, EMCOR Group, IES Commercial and Industrial, BrandSafway, HUNT Electric, and Artera Services. The U.S. boasts of a highly developed industrial, commercial, and residential sector which is steering the need for a reliable T&D infrastructure.