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2022 Profile of the Electrical Contractor Available to the Entire Industry, Showing Growth in Firm Size, Diversification of Services

·2 min read

WASHINGTON, Sept. 13, 2022 /PRNewswire/ -- The 2022 Profile of the Electrical Contractor, a contractor-focused breakdown of the electrical construction market conducted and published by ELECTRICAL CONTRACTOR Magazine, is now available in a 112-page topline report and as a 16-page summary.

The Profile of the Electrical Contractor is a biennial market research project conducted by Renaissance Research and Consulting, New York, for the ELECTRICAL CONTRACTOR Media Group.

The 2022 Profile reports information from 843 readers who responded to the magazine's comprehensive survey, which was conducted early this year. Questions related to firm size, revenue, age demographics, and confidence in economic growth.

The Profile represents a snapshot of operations over a point in time. The current report depicts how electrical contractors maintained business during the COVID-19 pandemic and dealt with issues in the supply chain.

Despite these obstacles, electrical contractors experienced revenue and company-size growth, marked by a rise in firms with 10-plus employees and an increase in small businesses reporting revenues of more than $1 million. Most businesses were also able to maintain steady staffing levels.

Another pinpoint is the movement toward higher-tech and value-added areas, such as lighting, low-voltage systems and industrial systems and controls. The surge in sustainability work is steady, mainly from more business in electric vehicle (EV) charging equipment and ventures into solar-power projects. Overall, though, electrical contractors continue to work on a wide variety of project types.

Revenue sources also seem to be shifting towards commercial/industrial/institutional and nonbuilding and away from residential. Average revenue from sources such as new construction, modernization/retrofit, and maintenance, service and repair held steady.

Read the full report in the July and August print editions of ELECTRICAL CONTRACTOR or read it online at ecmag.com.

The National Electrical Contractors Association (NECA) is the voice of the $202 billion electrical contracting industry that brings power, light, and communication technology to buildings and communities. NECA collectively represents over 4,000 electrical contractor members served by 118 local Chapters across the U.S.

Published by NECA, ELECTRICAL CONTRACTOR magazine reaches more than 80,000 subscribers each month through a print publication. The magazine is part of the ELECTRICAL CONTRACTOR Media Group, a brand that includes ECmag.com, a weekly e-newsletter Line Contractor and Safety Leader magazines, and more.

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View original content:https://www.prnewswire.com/news-releases/2022-profile-of-the-electrical-contractor-available-to-the-entire-industry-showing-growth-in-firm-size-diversification-of-services-301623556.html

SOURCE National Electrical Contractors Association