9 Electrical Contractor Industry Statistics for 2023: Facts & Key Takeaways

In a world that runs on electricity, the role of electrical contractors is nothing short of indispensable. These professionals are the architects behind the scenes, responsible for the intricate web of electrical systems that power our homes, businesses, and infrastructure. As the demand for efficient and sustainable energy solutions grows, understanding the importance of electrical contractor industry statistics becomes paramount. 

These statistics provide insights into electrical industry trends, workforce dynamics, and market projections, guiding informed decisions that impact both businesses and consumers alike. Join us as we delve into the realm of electrical contractor statistics, uncovering the vital data that shapes the way we navigate the electrifying competitive landscape of modern life.

Electrical contractor industry statistics 2023: Key takeaways

Presented below are the 9 key statistics we've chosen to underscore the significance of electrical contractors within the industry. These figures highlight the essence of electrical contractors industry statistics and electrical contractor industry trends.

• Electrician employment is projected to grow by 8% from 2019 to 2029.

• The field  of electrical contractors typically employ just under 220,000 workers in the U.S. 

• The market for electrical contractors USA is projected to reach USD 283.74 billion by 2028, up from USD 225 billion in 2022.

• Average age of electrical contractors is over 40 years, with 80% falling in this range.

• In 2020, the electricians workforce included 819,436 individuals, with a gender divide of 2.32% women and 97.7% men.

• Ethnic composition: 70.8% White, 10.4% Hispanic/Latino, 8.0% Asian, and 6.3% Black/African American contractors.

• US electrical contractors earn an average annual salary of $52,000 to $157,000.

• Electrical contractors in California receive an average hourly pay of $55.48 for their essential work.

• Post-pandemic, electrical contractors saw a significant 5.5% increase in earnings in August, marking the highest pay level since the pandemic's start.

9 Electrical Contracting Industry Statistics you Need to Know in 2023

Let us proceed to delve further into these statistics, aiming to attain a more comprehensive and nuanced understanding of the subject matter at hand.

General Electrical Contractor Industry Statistics

Here are a few electrical contracting industry statistics  that shed light on the essential aspects of this profession. These general electrical contractor stats offer insights into the industry's scope, electrical trends, and impact, providing a foundation for a deeper understanding of the critical role these professionals play in powering our world.

Electrician Growth Rate and Industry Outlook

The employment landscape for electricians is set to experience substantial growth, with projections indicating an impressive 8% electrician growth rate from 2019 to 2029 (BLS). This growth rate outpaces the average for all occupations, underscoring the integral role electricians play in modern society. This surge in demand can be attributed to the consistent need for wiring and essential components in both residential and commercial settings . 

As homes and businesses evolve to accommodate increasingly technology-driven environments, the reliance on intricate electrical systems and electrical wiring becomes more pronounced. From smart home installations to complex industrial electrical setups, electricians are at the forefront of ensuring the seamless functioning of these vital infrastructures.

Workforce Dynamics in the Electrical Contractor Field

How many electrical contractors are there in the US? 

Within the United States, the electrical contractor field sustains a workforce that encompasses just under 220,000 employees, showcasing its significant impact on the nation's economy and infrastructure (IBIS). This substantial number underscores the industry's vital role in powering homes, businesses, and essential services across the country. From ensuring reliable electricity distribution to deploying advanced technologies that drive innovation, these employees form the backbone of a sector that touches every aspect of modern life.

Anticipated Growth in the U.S. Electrical Contractors Market

The U.S. electrical contractors market size in the construction industry is on a trajectory of robust expansion, projected to reach a substantial USD 283.74 billion by 2028 from its 2022 standing of USD 225 billion (Arizton). This expected growth reflects the sector's vital role in powering a modernizing society and facilitating various industries. Factors driving this surge include ongoing urbanization, infrastructure development, and an increased demand for sustainable energy solutions and smart technologies.

This upward key trend not only signifies financial potential of annual revenue but also underscores the adaptability and innovation within the industry. As renewable energy integration and technological advancements reshape the landscape, electrical contractors are central to creating a more interconnected and sustainable future. The projected market expansion of electrical contractor companies as well as company size highlights their indispensable contributions to a dynamic economy and society that rely on seamless electrical systems to drive progress across sectors.

Key Takeaways for General Electrical Contractor Industry Statistics

• Electrician employment is projected to grow by 8% from 2019 to 2029.

• The electrical contractor field employs just under 220,000 workers in the U.S. 

• The U.S. electrical contractors market is projected to reach USD 283.74 billion by 2028, up from USD 225 billion in 2022.

Electrical Contractor Demographics

By delving into the personal and professional characteristics of these experts, we gain a deeper understanding of the diverse talents and experiences that contribute to the industry's vibrancy.

Age Distribution and Experience Among Electrical Contractors

Within the realm of electrical construction services and contracting, a distinct trend emerges in the age distribution of professionals. The statistics reveal that the average age of electrical contractors surpasses the age of 40, constituting a significant 80% of the overall electrical contractor population (Zippia). 

This demographic profile sheds light on the seasoned experience that these professionals bring to the industry. With a wealth of knowledge accumulated over years of hands-on work, these seasoned contractors serve as a testament to the industry's longevity and enduring expertise.

Composition and Dynamics of the Electricians Workforce

In the intricate tapestry of the electricians workforce, a snapshot of 2020 reveals a total of 819,436 individuals contributing their expertise to the field. This significant workforce stands as a testament to the crucial role electricians play in powering the modern world. However, within this demographic, a notable gender disparity becomes evident. Of the total workforce, women constitute merely 2.32%, while men dominate with a substantial 97.7% (DataUSA). This gender divide underscores the challenges that persist in achieving gender equality within the industry.

Ethnic Diversity Among Electrical Contractors

A glance at the ethnic composition of electrical contractors unveils a landscape reflective of the broader societal tapestry. The majority, at 70.8%, identify as White, highlighting the prevalent representation of this demographic within the field. Following closely, Hispanic or Latino contractors constitute 10.4% of the workforce, showcasing a notable presence and contribution. Similarly, Asian contractors stand at 8.0%, bringing their distinct skills and perspectives to the industry. Meanwhile, Black or African American contractors represent 6.3%, offering their expertise and experiences to enrich the field (Zippia).

Key Takeaways for Electrical Contractor Demographics

• Average age of electrical contractors is over 40 years, with 80% falling in this range.

• In 2020, the electricians workforce included 819,436 individuals, with a gender divide of 2.32% women and 97.7% men.

• Ethnic composition: 70.8% White, 10.4% Hispanic/Latino, 8.0% Asian, and 6.3% Black/African American contractors.

Earnings in Electrical Contracting

This section delves into the realm of electrical contractor earnings statistics, offering a comprehensive view of the financial aspects that underpin this profession. By examining earnings data, we gain a deeper understanding of the economic significance of electrical contracting, as well as the factors that influence compensation market trends.

Annual Salary for Electrical Contractors in the US

In the landscape of electrical contracting in the United States, a significant statistic highlights the earning potential of professionals in this dynamic field. Data reveals that the average annual wages for electrical contractors, gathered from the largest electrical contractors in the US, ranges from $52,000 to $157,000 (PayScale). This range reflects the diverse compensation that skilled individuals in the industry receive for their essential contributions to a wide array of projects and electrical systems.

Hourly Compensation for Electrical Contractors in California

When considering how much do electrical contractors make per hour, one of the significant California electrical contractor industry trends highlights the earning potential of electrical contractors within the dynamic landscape of California. The data reveals a noteworthy average electrical contractor rates of $55.48 per hour for these skilled professionals (Indeed). This hourly wage, retrieved from the biggest electrical contractors in the US, encapsulates the substantial compensation these experts command for their pivotal role in designing, installing, and maintaining intricate electrical systems that power homes, businesses, and critical infrastructure across the state.

Post-Pandemic Surge in Earnings for Electrical Contractors

A remarkable post-pandemic phenomenon has taken shape within the realm of electrical contracting, as earnings for professionals in this field experienced a significant 5.5% increase in the month of August (Electric Times). This surge in compensation marks a notable milestone, with earnings reaching the highest level observed since the start of the pandemic. This statistic stands as a testament to the sector's resilience and adaptability, showcasing the crucial role electrical contractors continue to play in maintaining essential infrastructures in the aftermath of challenging times.

Key Takeaways for Earnings in Electrical Contracting

• US electrical contractors earn an average annual salary of $52,000 to $157,000.

• Electrical contractors in California receive an average hourly pay of $55.48 for their essential work.

• Post-pandemic, electrical contractors saw a significant 5.5% increase in earnings in August, marking the highest pay level since the pandemic's start.

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