PUBLISHER: The Business Research Company | PRODUCT CODE: 1657252
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657252
An electrician is a skilled tradesperson who specializes in the installation, maintenance, repair, and operation of electrical systems and equipment. Their expertise ranges from handling wiring and circuits to working with advanced electrical machinery and systems in residential, commercial, and industrial settings.
The electricians market consists of sales, by entities (organizations, sole traders and partnerships), of electricians' services that provide broader services to construction and maintenance industry, addressing the diverse needs of clients ranging from homeowners to large-scale industrial enterprises. These professionals work on electrical wiring, control systems and power distribution networks, among other tasks, to deliver essential energy and communication capabilities.
The global electricians market was valued at $930,329.22 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 1.00%.
Growing Demand For Electrical Vehicle Infrastructure
During the historic period, the growing demand for electrical vehicle infrastructure supported the growth of the electricians market. Electric vehicle infrastructure refers to the network of charging stations, power distribution systems and supporting technologies that enable the efficient charging, maintenance and operation of electric vehicles. Electric vehicle infrastructure requires electricians to install, maintain and upgrade charging stations, electrical systems and grid connections, ensuring safe and efficient operation of EV charging networks. For example, in April 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, there were 2.7 million public charging points globally by the end of 2022, with over 900,000 installed that year, marking a 55% increase compared to 2021 and aligning with pre-pandemic growth rates. China led with 360,000 new slow chargers, bringing its total to over 1 million, while Europe saw a 50% increase, reaching 460,000, with the Netherlands, France and Germany having the highest shares. The U.S. saw a 9% growth in slow charging points, the lowest among major markets, while Korea's stock doubled, reaching 184,000. Therefore, the growing demand for electrical vehicle infrastructure drove the growth of the industrial mold market.
Focus On Retrofit Solutions To Enhance System Efficiency
Major companies operating in the electricians market are focusing on developing innovative solutions, such as retrofit solutions, to enhance the efficiency, functionality, or sustainability of existing systems or equipment without the need for complete replacement, making them cost-effective and environmentally friendly. A retrofit solution involves upgrading or modifying existing systems, equipment, or structures to improve their performance, efficiency, or compliance with modern standards, often without requiring complete replacement. For instance, in April 2024, Schneider Electric, a France-based industrial technology company, launched the Resi9 Energy Center. The Resi9 Energy Center is an advanced retrofit solution for the French market, designed to secure electrical installations in homes equipped with modern energy devices and renewable systems. Unveiled at Schneider Electric's Innovation Summit in Paris, it represents a major advancement in energy management, offering superior safety, efficiency, and sustainability. This intelligent electrical panel, serving as the central hub of the home's energy infrastructure, ensures the safe operation of electrical devices and appliances while seamlessly integrating with the evolving energy landscape.
The global electricians market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 2.59 % of the total market in 2023.
Electricians Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global electricians market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for electricians? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The electricians market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider electricians market; and compares it with other markets.