U.S. Electrical Services Market Size - By Service Type (Electrical Construction, Instrument & Technical Services, Maintenance & Repair), By Application (Commercial, Industrial, and Utility), & Forecast, 2024 – 2032

U.S. Electrical Services Market Size

U.S. Electrical Services market size, in 2023, was assessed at USD 158.5 Bn and will grow at a CAGR of 5.6% from 2024 to 2032 due to the increasing investments in infrastructure, including modernization of electrical grids and expansion of renewable energy sources, boosting demand for electrical services.
 

Technological advancements, such as smart grid systems and digital monitoring solutions, are enhancing efficiency and reliability, prompting upgrades and maintenance services. Thirdly, rising industrialization and urbanization are driving demand for commercial and residential electrical installations and maintenance.
 

Moreover, regulatory initiatives promoting energy efficiency and sustainability are encouraging businesses and consumers to adopt energy-saving technologies, further stimulating market expansion. The sector is expected to continue its upward trajectory, supported by ongoing infrastructure development and technological innovation, making it a pivotal component of the broader electrical equipment and solutions industry in the U.S. As digitalization increases, cybersecurity concerns have become paramount. Electrical service providers are also focusing on enhancing grid cybersecurity measures to protect against cyber threats and ensure grid resilience. This includes implementing robust cybersecurity protocols, training personnel on cybersecurity best practices, and investing in secure communication and data management systems.
 

U.S. Electrical Services Market Trends

The push towards sustainability and reducing carbon footprints is driving the integration of renewable energy sources such as solar and wind into the electrical grid. Electrical service providers are involved in the installation, maintenance, and integration of these renewable energy systems, including battery storage solutions. This trend is supported by government incentives and mandates aimed at increasing renewable energy capacity. The electrification of transportation is driving utilities to invest in electric vehicle (EV) charging infrastructure. Utilities are expanding their service offerings to include EV charging stations, upgrading electrical grids to support increased EV adoption, and integrating smart charging technologies to manage peak demand and optimize charging schedules.
 

There is a significant shift towards digitalization within the electrical services sector. This includes the adoption of smart grid technologies, IoT (Internet of Things) integration for monitoring and control, and advanced analytics for predictive maintenance. These technologies improve efficiency, reduce downtime, and enhance overall grid reliability. Government policies, regulations, and incentives aimed at promoting energy efficiency, renewable energy deployment, and grid modernization are providing a favorable environment for utility investments. These regulatory drivers encourage utilities to innovate, adopt new technologies, and expand their service capabilities to meet evolving customer expectations and regulatory requirements. Utilities and service providers are increasingly investing in digital infrastructure to meet evolving consumer expectations and regulatory requirements.
 

U.S. Electrical Services Market Analysis

Based on service type, the electrical construction segment is expected to cross USD 180 billion by 2032 owing to rising significant need for new infrastructure projects and the modernization of existing facilities across the U.S. This includes construction of new residential, commercial, and industrial buildings, as well as upgrades to electrical systems in aging infrastructure. The demand for electrical construction services arises from the installation of wiring, lighting, electrical panels, and other components necessary for these projects. Advances in electrical technology, such as energy storage solutions and electric vehicle infrastructure, also contribute to the demand for electrical construction services. These technologies require specialized electrical installations to support their integration into existing infrastructure and facilitate their widespread adoption.
 

Based on application, the U.S. electrical services market from utility segment is anticipated to cross CAGR of 5% by 2032 since the utilities are investing in the modernization and expansion of electrical grids to enhance reliability, efficiency, and resilience. This includes upgrading aging infrastructure, integrating smart grid technologies for real-time monitoring and management, and implementing digital solutions to optimize grid operations. Utilities are adopting renewable energy sources, such as solar and wind, into their energy portfolios. This shift towards clean energy necessitates the development of new transmission and distribution infrastructure to accommodate fluctuating renewable energy outputs and meet regulatory mandates for renewable energy integration.
 

U.S. Electrical Services Market Share

Companies like Centuri Group, Helix Electric dominate the market due to their extensive expertise, technological innovation, and global presence. These companies offer comprehensive solutions ranging from electrical equipment manufacturing to advanced service offerings like grid modernization, renewable energy integration, and smart grid solutions. Their established reputation for reliability, quality, and customer support, coupled with strategic partnerships and acquisitions, enables them to capture significant market share. Moreover, their ability to provide tailored solutions that meet the evolving needs of utilities, industries, and infrastructure projects further solidifies their leadership in the market.
 

U.S. Electrical Services Market Companies

• APi Group Inc.
• Artera Services LLC.
• Bergelectric
• BrandSafway
• Centuri Group Inc.
• Comfort Systems USA Inc.
• Cupertino Electric Inc.
• EMCOR Group Inc.
• Facility Solution Group
• General Electric
• Helix Electric
• Henkels and McCoy Group, Inc
• HUNT Electric Corporation
• IES Commercial and Industrial
• M.C. Dean Inc.
• MasTec Inc.
• MDU Construction Services Group Inc.
• MMR Group
• MYRGROUPINC
• Power Design Inc.
• Primoris Services Corporation
• Quanta Services
• Redwood Electric Group
• Rosendin Electric Inc.
• The Newtron Group
• Walker Engineering Inc.
   

U.S. Electrical Services Industry News

• In November 2023, General Electric and ONE entered into a term sheet aimed at advancing the U.S. energy transition through the utilization of locally produced battery technology. This agreement focuses on supplying U.S.-manufactured LFP battery modules and cells for GE Vernova's Solar & Storage Solutions initiatives in the United States.
   
• In May 2024, U.S. Electrical Services finalized the acquisition of Askco Electric Supply, serving residential, commercial, and industrial markets. Askco will merge into USESI's Electrical Wholesalers and HZ Electric Supply region while retaining its existing operational identity.
   

U.S. Electrical Services market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Billion” from 2021 to 2032, for the following segments:

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Market, By Service Type, 2021 – 2032 (USD Billion)

• Electrical Construction
• Instrument & Technical Services
• Maintenance & Repair

Market, By Application, 2021 – 2032 (USD Billion)

• Commercial
• Industrial
• Utility