Electrical Contractors And Other Wiring Installation Contractors Global Market Report 2023
Major players in the electrical contractors and other wiring installation contractors market are McPhee Electric & Telecommunications, Inc, Mace Group, T Clarke Plc, Clarkson Evans Limited, Tilbury Douglas Engineering Limited, Gratte Brothers Limited, Carter Synergy Limited, Quartzelec Ltd, Cilantro Engineering UK Ltd, Halsall Electrical Limited, FES Limited, Gloster MEP Limited, LJJ Ltd, F.
New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electrical Contractors And Other Wiring Installation Contractors Global Market Report 2023" - https://www.reportlinker.com/p06464065/?utm_source=GNW
P.Hurley & Sons Limited, and Haydon Mechanical & Electrical.
The global electrical contractors and other wiring installation contractors market is expected to grow from $1098.49 billion in 2022 to $1188.58 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electrical contractors and other wiring installation contractors market is expected to reach $1585.98 billion in 2027 at a CAGR of 7.5%.
The electrical contractors and other wiring installation contractors market include revenues earned by entities by providing installation, upgrade, designing, and implementation services for electric systems in construction projects.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Electrical contractors and other wiring installation contractors refers to licensed trained professionals responsible for the installation, repair, and maintenance of electrical wiring and equipment in buildings, such as homes, offices, factories, and other structures.
Asia-Pacific was the fastest growing region in the electrical contractors and other wiring installation contractors market in 2022. The regions covered in electrical contractors and other wiring installation contractors report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main electrical contractors and other wiring installation contractors material types are metal, optic fibre, and plastic.Metal refers to hard, shiny, malleable, ductile material and a good conductor of heat and electricity.
The various installation methods are submarine, underground, and overhead that includes high voltage, medium voltage, and low voltage. The end user are telecommunication, energy and power, electronics, construction and automotive.
The rise in global electricity consumption is expected to propel the growth of the electrical contractor and other wiring installation contractors market.Global electricity consumption has been steadily rising over the past few decades due to a variety of factors, including population growth, urbanization, and industrialization.
As more people move into cities and more industries are established, the demand for electricity increases to power homes, businesses, and factories.The rise in global electricity consumption is generating a need for a timely supply of electricity, leading to a rise in the need for an electrical contractor and other wiring installation to help in the installation, and maintenance of the electric systems.
For instance, In March 2023, according to the International Energy Agency, the global electricity demand has risen to 23,750 thousand TWh in 2023 from 22,500 thousand TWh in 2021. Therefore, the rise in global electricity consumption is driving the growth of the electrical contractors and other wiring installation contractors’ market.
The introduction of robotics and drones are a key trend gaining popularity in the electrical contractor and other wiring installation contractor market.Electrical contractors and other wiring installation contractors are adopting robotics, artificial intelligence, and drones for monitoring and surveillance of electric systems at electrical hazards zones.
Drones are used as an innovative tool to make electrical work safe and minimize electrical errors.For instance, In January 2020, Skycraft, a Sweden-based infrastructure company, started using AI and drone technology for electricity power-line inspection for the detection of risk by gathering images.
Power line inspection using drones provides a cost-effective and safe way of inspection. Skycraft provides smart infrastructure inspection by using unmanned airplanes by collecting images and 360 videos, this data is automatically collected and analyzed for detection of risk to the power lines.
In August 2022, EMCOR Group, Inc. a US-based electrical construction services company acquired Gaston Electrical Co. LLC for an undisclosed amount. This acquisition helped EMCOR company to expand its footprint of electrical construction services in the Northeast region of the USA by adding services of designing, constructing, installing, and maintaining the electrical and low voltage systems in a wide variety of projects, including laboratories, hospitals, and life sciences facilities, data centers, sports arenas, universities, large-scale residential, and commercial office buildings. Gaston Electrical Co. LLC is a US-based service electrical construction and low voltage contractor company.
The countries covered in the electrical contractors and other wiring installation contractors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The electrical contractors and other wiring installation contractors market research report is one of a series of new reports that provides electrical contractors and other wiring installation contractors market statistics, including electrical contractors and other wiring installation contractors industry global market size, regional shares, competitors with a electrical contractors and other wiring installation contractors market share, detailed electrical contractors and other wiring installation contractors market segments, market trends and opportunities, and any further data you may need to thrive in the electrical contractors and other wiring installation contractors industry. This electrical contractors and other wiring installation contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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