US Electrical Construction Market Forecast and Competition: Market Size is Estimated to Hit $314.51 Billion by 2029

US Electrical Construction Market Overview

According to Global Market Monitor, the US electrical construction market size will reach $238.96 billion in 2024 and is expected to grow to $314.51 billion by 2029.

The US government has been emphasizing increased production of renewable energy. This has led to increased demand for Electrical Construction in the power and energy sectors. With the growing urban population, there are problems of resource constraints, power shortages, insufficient water supply, low administrative efficiency, insufficient construction, traffic chaos, and pollution. The United States is also committed to building smart cities, which will require a new layout of the power system. Smart cities can achieve energy saving and emission reduction and bring electrical construction into a wider development space. Therefore, with the continuous implementation of smart homes and smart cities, Electrical Construction will have certain market opportunities. In addition, with the renovation and renovation of new construction sectors namely healthcare/pharmaceutical, commercial, green building, and industrial facilities, there will be an increase in demand in the electrical construction industry.

Market Competition

Due to various factors, the U.S. electrical construction market is highly competitive, which makes it difficult for companies to maintain and expand their market position, and the rapid pace of technological innovation is an important driver of competition in the electrical contracting industry. The transition to renewable energy sources such as solar and wind requires contractors to constantly update their skills and expertise. The industry faces a severe labor shortage, with a growing demand for skilled electricians in short supply. According to the National Electrical Contractors Association (NECA), the shortage is caused by the retirement of experienced electricians and a lack of new entrants into the field. This shortage has created fierce competition for skilled labor, forcing companies to offer higher wages and better benefits to attract and retain workers.

Rosendin Electric offers extensive training and apprenticeship programs to ensure that its employees are well-versed in the latest technologies and installation techniques. The company provides electrical contracting services for the evaluation, engineering, design, and installation of communications networks, data centers, and residential and wind farms across the United States.

Company Name	Rosendin Electric
Website	www.rosendin.com
Established Time	1953
Sales Region	Mainly in USA
Product Introduction	Rosendin celebrated the completion of the Harvey Milk Terminal 1 Center at San Francisco International Airport (SFO) in June.