NAICS 23821 - Electrical Contractors
This industry comprises establishments primarily engaged in installing and servicing electrical wiring and equipment. Electrical contractors included in this industry may include both the parts and labor when performing work. Electrical contractors may perform new work, additions, alterations, maintenance, and repairs.
Industry trends:
The electrical contracting industry (NAICS 23821) is experiencing several qualitative trends that are reshaping its landscape. One significant trend is the growing emphasis on sustainable and energy-efficient solutions. Electrical contractors are increasingly involved in the installation of renewable energy systems, such as solar panels and wind turbines, to meet the rising demand for green energy solutions. This trend is driven by both regulatory changes and consumer preferences for more sustainable energy sources.
Another notable trend is the integration of smart technologies. Smart homes and buildings are becoming more common, and electrical contractors are tasked with installing and maintaining advanced systems, including smart lighting, HVAC controls, and security systems. The rise of the Internet of Things (IoT) is also creating new opportunities for contractors to offer high-tech solutions that enhance energy efficiency and user convenience.
Workforce challenges are also a key trend. There is a growing skills gap as the industry struggles to attract young talent to replace an aging workforce. Electrical contractors are focusing on training and apprenticeship programs to ensure a steady pipeline of skilled workers. This effort is crucial to keeping up with the increasing complexity of modern electrical systems.
Looking ahead, the industry is expected to see continued growth due to urbanization and the ongoing expansion of infrastructure projects. The push for renewable energy and smart technology adoption will likely drive demand for skilled electrical contractors. The integration of advanced technologies, alongside regulatory support for green initiatives, suggests a robust future for those who can adapt to these evolving trends.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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