7 Must-Know Electrician Industry Statistics
There’s never been a better time to be an electrician. The demand for skilled electricians continues to grow as more people need electrical upgrades to their homes.
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With a high demand for electricians and a straightforward path of growth per professional, what can the United States expect the industry to look like in the future? Find out when you review these electrician industry statistics.
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How big is the electrical industry right now?
Generally, the electrical industry is a large category featuring commercial, residential, industrial, maintenance, and auto specialties. In 2023, the electrical sector consists of about a million employees, almost 240,000 businesses, and accounts for over $233 billion in the U.S. market.
7 electrician industry statistics in the U.S.
Whether you’re already in the electrical industry or you’re interested in joining the workforce, here are some important statistics you should know about the industry:
1. Over 50% of revenue comes from outside end-use segments
If you’re wondering which electrical specialty you should pursue, consider how more than 50% of the industry’s revenue comes from outside end-use segments.
Specifically, the most profitable skilled work consists of transmission, distribution, substation, renewable energy, storm response, and emergency services.
For example, the adoption of electric vehicles has increased the need for reliable and efficient power. Electricians must create charging amenities at substations and improve the efficiency and management of smart grids.
2. California, Texas, Florida, New York, and Michigan have the most amount of electricians
Wondering where you should move if you’re looking for a job in the power industry? Or want to know where you’ll have the most competition? The states with the highest employment levels for electricians include:
- California: More than 73,000 electricians.
- Texas: Around 64,000 electricians.
- Florida: Over 42,000 electricians.
- New York: About 39,000 electricians.
- Michigan: Just under 26,000 electricians.
3. Illinois, Oregon, the District of Columbia, Hawaii, and Alaska pay electricians the most
If you’re interested in making the highest salary possible, consider moving to one of these states where electricians are paid the most for their services:
- Illinois: Almost $89,000 annually.
- Oregon: More than $80,000 annually.
- District of Columbia: Over $80,000 annually.
- Hawaii: Around $79,000 annually.
- Alaska: About $78,000 annually.
4. Experts anticipate the industry will increase about 6%
According to the U.S. Bureau of Labor Statistics, the need for electrical professionals who work full-time will increase around 6% by 2032, which is faster than the average for other occupations. Some of the causes for this include people updating old homes, an increase in population, and a push towards greener solutions (electric cars).
5. Almost 800,000 electricians will work in the U.S.
By 2030, the number of people working full-time in the electrical industry will reach new heights at around 796,000 employees nationwide. The construction industry will make up the majority of the workforce, with almost 570,000 electricians. And the manufacturing industry will consist of about 52,000 electricians.
The rest of the electricians are anticipated to work in government, educational services, utilities, and mining or oil and gas extraction industries.
6. The U.S. electrical services market will reach over $350 billion
By 2027, experts believe the electrical industry will reach a market value of over $350 billion in the U.S. Right now, there is a growing demand for transmission and distribution systems that deliver reliable power to consumers.
Additionally, there is an increasing need for integration with renewable-powered sources and upgraded, advanced electrical equipment across the grid. The demand for control equipment and advanced monitoring is expected to increase.
Some of the most in-demand services are expected to include electrical construction, instrument and technical assistance, maintenance, and repair.
7. About 65% of electrical businesses predict there will be a lack of skilled labor
As the need for electricians continues to grow, over half of electrical and construction firms believe a lack of skilled labor will impact productivity. Businesses are looking for ways to cope with skilled labor shortages so they can meet the supply and demand of consumers.
Learn how to use marketing to grow your electrical business
These electrical industry stats show that the demand for electricians will keep growing. That means you need to spend time marketing your company and putting your name out there, so you can land more jobs.
The experts at WebFX will personalize a digital strategy to help your company succeed in the future. We have over 29 years of experience creating strategies that drive business growth.
Ready to land more jobs? Contact us online or call us today at 888-601-5359 to speak with a strategist about how digital marketing can help you grow your electrical business!
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