Transform & Win · Level vertical

Electrical

Licensed, physical, code-bound. Controls/low-voltage adds tech-enabled revenue expansion. Strong AI upside in estimating/design.

80.2
Index score
80.6
AI-Resilience
how safe the work is from AI
79.7
AI-Leverage
profit AI can unlock
4.19
Avg rating (n=12,534)

The numbers

What a electrical shop actually runs on. Published figures retain their citations and confidence badges. Research-pass counts describe repeated review runs, not independent evidence.

$29.795/hr
Median wage6 research passes · official source
22.4%
Job gross margin3 research passes · medium
35.5%
Recurring revenue4 research passes · medium
818,700
US employment6 research passes · official source
$10.3M
Median company revenue
Customer economics

What could one customer property be worth to your trade?

Estimate one property, then compare the same scoped method with Level's measured building stock across all 50 states, DC, and 100 metros. Commercial and residential evidence stay separate, and every planning assumption is editable.

Value a commercial buildingValue a homeBrowse state and metro opportunity data

Download the canonical 2,265-row CSV. TradeIndex links to Level's source rather than copying the matrix.

The two axes

AI-Resilience

80.6
Physical/on-site coreHow much of the paid work requires hands-on, on-site skilled labor an AI agent cannot perform.
88
Disintermediation resistanceHow hard it is for an AI agent or platform to bypass the contractor and go direct.
76
AI-native entry barrierLicensing, trust, relationships, and physical presence that block AI-native new entrants.
82
Customer lock-inService agreements, recurring maintenance, and relationships that retain customers.
72

AI-Leverage

79.7
Coordination/back-office dragShare of cost/time in coordination, estimating, scheduling, billing, the work AI can orchestrate.
78
Operating-leverage step-changeMargin recoverable from mis-costed jobs, rework, billing lag, and cash trapped in open work.
80
Revenue expansionUpside from better bidding, pull-through, and new service lines AI can unlock.
82
Domain-data amplificationHow much the trade's proprietary job data compounds in value with AI (Level's core thesis).
80

Sub-score weights and definitions: methodology.

What does an electrical contracting business sell for?

Electrical businesses sell for 3.5x to 8.5x EBITDA, averaging 6.2x. Published sources give a range rather than a tier-by-tier ladder for this trade, so the figures above span every buyer type and company size. Based on 2025 transactions. Large scaled platforms are a separate tier and have printed as high as 20x, documented below. That places electrical contracting 9 of 13 trades on the index by top-of-range multiple.

Source: Auxo Capital Advisors (2026), reporting high-end EBITDA multiples of 8.5x+ for scaled platform companies and strategic add-ons; cross-checked with GF Data / BMI Mergers & Acquisitions (2025), reporting averages of 7.8x-8.0x+ EBITDA for larger electrical platforms. · 3 research passes

Valuations remain strong, averaging 6.2x-7.8x EBITDA for lower-middle-market businesses and reaching 9.0x-10.8x EBITDA for larger platform and data-center specialized targets.
Source: Capstone Partners, Construction Services Market Update (2026)
According to GF Data figures cited by BMI Mergers, valuation multiples increase significantly with company size: smaller electrical contracting acquisitions ($3 million to $8 million in EBITDA) average 6.2x to 6.4x EBITDA, whereas larger deals ($8 million+ EBITDA) command an average multiple of 7.8x EBITDA. Across the broader trade, smaller or less attractive shops tend to sell for 5.0x EBITDA or less, while larger, more attractive platforms reach 8.0x EBITDA or higher.
Source: BMI Mergers & Acquisitions, 'A Surge in Connections: Electrical Contractor M&A Rebounds' (2025)

Above the range: documented platform transactions to 20x. The range above describes privately held electrical contracting contractors, and its sources sample the lower middle market. Large scaled platforms and institutional recapitalizations have printed materially higher. These are reported separately rather than folded into the range, because a business that is not a national platform should not price itself off one.

According to PE Hub (2025, https://www.pehub.com), consolidation intensity is particularly strong in electrical power infrastructure, grid services, and technical electrical contracting, where secular tailwinds from AI data center buildouts and power grid modernization have driven exit valuations up to 16x-20x EBITDA.
Source: Capstone Partners AEC Services Sector Update (2026); PitchBook Data via BMI Mergers & Acquisitions (2025); PE Hub (2025)
PE buyers accounted for 38.3% of all sector deals in 2025, up 181.6% since 2018, with sector EBITDA multiples averaging 13.2x EV/EBITDA.
Source: Capstone Partners AEC Services Sector Update (2026); PitchBook Data via BMI Mergers & Acquisitions (2025); PE Hub (2025)
Valuations remain strong, averaging 6.2x-7.8x EBITDA for lower-middle-market businesses and reaching 9.0x-10.8x EBITDA for larger platform and data-center specialized targets.
Source: Capstone Partners, Construction Services Market Update (2026)

Why buyers are active. The four largest firms hold 5.1% of this market, and the top 50 hold 17.1%, which is the fragmentation that makes a roll-up cheaper to assemble than to build. Source: U.S. Small Business Administration, 'Small Business Size Standards: Agriculture, Forestry, Fishing and Hunting; Mining, Quarrying, and Oil and Gas Extraction; Utilities; Construction', Proposed Rule, 85 FR 62239 (October 2, 2020), Table 4 'Size Standards Supported by Each Factor for Each Industry (Receipts)' at 85 FR 62248, column (6) headed 'Four-firm ratio (%)', row NAICS 238210 Electrical Contractors and Other Wiring Installation Contractors. Derived by SBA from the U.S. Census Bureau special tabulation of the 2012 Economic Census. · 1 research pass

Who is buying, and what they pay for

Buyer demand for US electrical contracting and services businesses is strong, driven by active private equity sponsors and strategic consolidators building market scale. Demand is propelled by long-term tailwinds including rapid AI data center expansion, grid modernization, renewable energy infrastructure, and federal funding. Buyers place the highest value on scaled operators with strong safety records, robust project backlogs, skilled technician retention, high-margin specialized service capabilities, and recurring service revenue.

Source: CLA Meridian Capital, Electrical Contracting Services M&A Update (2025)

Named acquirers. Notable private equity platforms and public company acquirers actively rolling up US electrical contractors and power service providers include: (1) Shermco Industries, acquired by Blackstone Energy Transition Partners from Gryphon Investors in August 2025 for $1.6B as an electrical power testing, inspection, and maintenance platform (PE Hub, 2025, https://www.pehub.com; Axios Pro, 2025, https://www.axios.com); (2) Apex Service Partners, backed by Alpine Investors, which has grown into a major multi-trade roll-up platform with ~$1.3B in annual revenue covering residential/commercial HVAC, plumbing, and electrical services (CT Acquisitions, 2026, https://www.ctacquisitions.com); (3) Champions Group, acquired by Blackstone via its BXPE fund in February 2026 for ~$2.5B enterprise value as an electrical, plumbing, and HVAC services platform (CT Acquisitions, 2026, https://www.ctacquisitions.com); (4) Norlee Group, backed by Heartwood Partners, an electrical and mechanical design platform that acquired Tampa-based Inter-Bay Electric Company in November 2025 (PE Hub, 2025, https://www.pehub.com); (5) Bowe & Gant Electrical Services, which secured a majority growth investment from Greenbelt Capital Management in July 2026 for electrical and energy infrastructure services (PE Hub, 2026, https://www.pehub.com); and (6) MYR Group Inc. (NASDAQ: MYRG), a public strategic consolidator acquiring regional commercial electrical contractors (Main Street Wealth / MYR Group, 2025, https://www.myrgroup.com).

Source: PE Hub (2025/2026); Axios Pro (2025); CT Acquisitions PE Trackers (2026)

A multiple is applied to adjusted EBITDA, and for most contractors that earnings figure is the contested part: job costing that misallocates labor, untracked work in progress, and un-normalized owner compensation all move it before any multiple applies, and a buyer recomputes it in diligence. Level CFO publishes the operating side of that, contractor margin and cash benchmarks by trade. Compare every trade’s multiple side by side on what trade businesses sell for.

The research

Published numbers retain citations from public sources such as BLS/OEWS, licensing boards, permit records, and public filings. Badges show confidence and repeated research-pass counts. Pass counts are workflow metadata, not counts of independent evidence sources.

Labor & workforce

Wages & compensation

Median Hourly Wage6 research passes · official source$29.795
Median Annual Wage6 research passes · official source$62K
Pct25 Hourly Wage6 research passes · official source$23.299999999999997
Pct75 Hourly Wage6 research passes · official source$38.94
Pct90 Hourly Wage6 research passes · official source$50.535
Pct10 Hourly Wage6 research passes · official source$18.725
Sources (2)
  • Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm
  • Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) / Occupational Outlook Handbook (OOH), May 2024, | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm

Employment

Us Employment6 research passes · official source818,700
Projected 10yr Growth6 research passes · official source9%
Annual Openings6 research passes · official source81,000
Projected 10yr Net Change6 research passes · official source77,400
Sources (2)
  • U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, 2024
  • U.S. Bureau of Labor Statistics, Employment Projections 2024-2034

Labor shortage

Unfilled Openings5 research passes · official source81,000
Vacancy Rate2 research passes · medium3.45%

Shortage Note. The National Electrical Contractors Association (NECA) estimates that approximately 10,000 electricians retire each year while only 7,000 enter the industry, creating an annual net deficit of 3,000 workers and an estimated trade shortfall of roughly 50,000 electricians.

Sources (3)
  • U.S. Bureau of Labor Statistics (BLS), Occupational Outlook Handbook: Electricians
  • Trade Economy Index research synthesis: median of 1 cited research input: U.S. Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS) / Associated Builders and Contractors (ABC) Analysis, December 2025
  • National Electrical Contractors Association (NECA), reported via ELECTRICAL CONTRACTOR Magazine, 2024, and https://www.necanet.org

Workforce aging

Median Worker Age6 research passes · official source39.6
Pct Over 556 research passes · medium17.985

Retirement Note. The National Electrical Contractors Association (NECA) reports that approximately 10,000 electricians retire each year while only 7,000 enter the trade, creating a net annual deficit, while the U.S. Bureau of Labor Statistics projects 81,000 annual job openings through 2034 primarily driven by retirement and labor force exits.

Sources (3)
  • U.S. Bureau of Labor Statistics, Current Population Survey (CPS), Table 11b: Employed people by detailed occupation and age (
  • Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Current Population Survey, Household Data Annual Averages, Table 11b: Employed persons by detailed occupation and age, 2023, | Manufacturing Institute and Deloitte 2024 Electrical Workforce Study (https://www.ecmag.com/magazine/articles/article-detail/workforce-development-addressing-the-electrician-shortage
  • National Electrical Contractors Association (NECA) and U.S. Bureau of Labor Statistics, Occupational Outlook Handbook: Electricians (

Training pipeline

Apprenticeship Enrollment5 research passes · medium71,812
Annual Completions4 research passes · high confidence29,121

Pipeline Gap Note. The U.S. Bureau of Labor Statistics projects 81,000 annual job openings for electricians through 2034 due to growth and retirements, creating a structural labor shortage as total annual apprenticeship and trade school graduates remain well below the required replacement and expansion rate.

Sources (3)
  • U.S. Department of Labor, Employment and Training Administration, Office of Apprenticeship, Registered Apprenticeship Data (RAPIDS), 2021
  • Trade Economy Index research synthesis: median of 4 cited research inputs: National Center for Education Statistics (NCES) Integrated Postsecondary Education Data System (IPEDS) via Data USA, 2024, | Trade Colleges Directory / U.S. Department of Education IPEDS, 2026, https://www.tradecolleges.org/programs/electrician | DataUSA / National Center for Education Statistics (NCES) IPEDS Electrician Program Completions Data, 2024, https://datausa.io/profile/cip/electrician | U.S. Department of Education, National Center for Education Statistics (NCES), Integrated Postsecondary Education Data System (IPEDS), 2024 Data (Electrician CIP 46.0302
  • U.S. Bureau of Labor Statistics (BLS) Occupational Outlook Handbook, 2025

Immigration reliance

Pct Foreign Born3 research passes · high confidence15.5

Visa Dependence Note. Electricians require formal apprenticeship training and state professional licensing, leading to a lower share of foreign-born workers relative to unlicensed construction trades. Employers in technical trades seeking temporary foreign labor primarily utilize the H-2B non-agricultural temporary worker visa program (subject to an annual statutory cap of 66,000), while high-skilled electrical engineering roles utilize H-1B visas.

Sources (2)
  • National Association of Home Builders (NAHB) Special Study: Immigrant Workers in the Construction Labor Force (U.S. Census Bureau American Community Survey PUMS analysis) -
  • National Association of Home Builders (NAHB) / U.S. Department of Labor (DOL) H-2B Program - and https://www.dol.gov

Unionization

Union Membership5 research passes · high confidence30.6%

Prevailing Wage Note. Under the Davis-Bacon and Related Acts (DBRA), contractors on covered federal construction projects exceeding $2,000 must pay electricians at least the locally prevailing wage rate and fringe benefits. In heavily unionized markets, U.S. Department of Labor wage determinations for electrician classifications (SOC 47-2111) are predominantly based on collective bargaining agreements negotiated by local chapters of the International Brotherhood of Electrical Workers (IBEW).

Sources (2)
  • Union Membership and Coverage Database from the CPS (unionstats.com), constructed by Barry T. Hirsch, David A. Macpherson, and William E. Even
  • U.S. Department of Labor Wage and Hour Division, Davis-Bacon and Related Acts, 2024

Licensing & credentials

States Requiring License5 research passes · high confidence46

Bonding Note. State electrical contractor licensing boards typically require surety bonds ranging from $1,000 to $130,000 (most commonly $10,000 to $25,000, such as California and Minnesota requiring $25,000) alongside general liability insurance coverage minimums ranging from $100,000 to $1,000,000 per occurrence.

Reciprocity Note. Electrical trade licensing reciprocity across states is enabled via bilateral state-to-state agreements or standardized testing programs such as the NASCLA Accredited Electrical Examination Program, which is accepted by 17+ state and territorial jurisdictions (including AL, AZ, DC, FL, ID, LA, MS, MO, NM, NC, SC, TN, UT, VA, and WV) to waive state trade exams for master, journeyman, or residential electrical licensing.

Sources (3)
  • GetTradeLicense: Electrician License Requirements by State (2026)
  • MoneyGeek: Electrical Contractor Insurance & Bonding Guide (2026)
  • National Association of State Contractors Licensing Agencies (NASCLA): NASCLA Accredited Examination Program (2026)

Market structure & size

Market size

Market Size5 research passes · medium$347.5B
Cagr5 research passes · medium4.8%
Cagr Forecast Window2021-2026
Sources (1)
  • IBISWorld, Electricians in the US Industry Report (2026)

Firm counts

Num Establishments6 research passes · official source81,842
Num Firms6 research passes · official source79,611
Avg Employees Per Firm6 research passes · official source11.96
Sources (1)
  • U.S. Census Bureau, Statistics of U.S. Businesses (SUSB)

Firm-size distribution

Pct Firms Under 1m1 research pass · limited support80.96
Pct Firms 1m 5m1 research pass · limited support14.69
Pct Firms 5m 20m1 research pass · limited support3.12
Pct Firms Over 20m1 research pass · limited support1.22
Pct Nonemployer1 research pass · limited support73.6
Sources (2)
  • U.S. Census Bureau, Statistics of U.S. Businesses (SUSB), Enterprise Receipt Size
  • U.S. Census Bureau, Nonemployer Statistics (NES) & Economic Census / SUSB

Fragmentation

Top4 Firm Share1 research pass · official source5.1%
Top50 Firm Share1 research pass · limited support17.1%

Mom And Pop Share Note. Small and independent operators heavily dominate the electrical contracting sector by firm count. According to U.S. Census SUSB data, 89.7% of electrical contracting businesses (NAICS 238210) have fewer than 20 employees, and IBISWorld notes that the vast majority of active industry operators generate under $2 million in annual revenue.

Sources (3)
  • U.S. Small Business Administration, 'Small Business Size Standards: Agriculture, Forestry, Fishing and Hunting; Mining, Quarrying, and Oil and Gas Extraction; Utilities; Construction', Proposed Rule, 85 FR 62239 (October 2, 2020), Table 4 'Size Standards Supported by Each Factor for Each Industry (Receipts)' at 85 FR 62248, column (6) headed 'Four-firm ratio (%)', row NAICS 238210 Electrical Contractors and Other Wiring Installation Contractors. Derived by SBA from the U.S. Census Bureau special tabulation of the 2012 Economic Census.
  • EC&M (Electrical Construction & Maintenance) 'Top 50 Electrical Contractors' & Cascade Partners M&A Market Update, 2025
  • U.S. Census Bureau, Statistics of U.S. Businesses (SUSB) Enterprise Size Data, 2022 (released 2025)

Franchise penetration

Franchise Penetration4 research passes · medium3%

Franchise Trend Note. The U.S. electrical contracting industry remains heavily fragmented with independent operators accounting for over 97% of total market revenue, while major franchise networks (such as Authority Brands' Mister Sparky and Neighborly's Mr. Electric) and private equity platforms collectively account for under 3%. However, the franchise and consolidated mix is trending upward as multi-trade franchisors and private equity buyers accelerate platform rollups across residential and commercial services, with private equity driving roughly 75% of electrical contractor M&A transactions in 2025.

Sources (2)
  • CT Acquisitions, 2026
  • PitchBook Q3 2025 Analyst Note via Main Street Wealth (2026, ) and CT Acquisitions (2026, https://ctacquisitions.com

Business formation rate

Annual New Firm Formation4 research passes · limited support19,076
Annual Closure Rate3 research passes · official source8.39%
Survival 5yr4 research passes · limited support53.9%
Sources (2)
  • U.S. Census Bureau, Business Dynamics Statistics (BDS), 2023
  • U.S. Bureau of Labor Statistics, Business Employment Dynamics (BED), Table 7 (Establishment Age and Survival Data), Construction (NAICS 23), 2024

Unit economics

Margins

Gross Margin3 research passes · medium22.4%
Operating Margin3 research passes · verified7.1%
Gross Margin Pct Shared Across9%
Operating Margin Pct Shared Across14%

Gross Margin Pct Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 9 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Operating Margin Pct Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 14 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (2)
  • CFMA Construction Financial Benchmarker (2024, ), Specialty Trades gross profit margin of 22.4%. Cross-checked against public company filings including IES Holdings, Inc. SEC Form 10-K (2025, https://www.sec.gov/edgar/browse/?CIK=0001048268) at 25.5% and MYR Group Inc. SEC Form 10-K (2025, https://www.sec.gov/edgar/browse/?CIK=0001409371) at 11.6%.
  • CFMA Construction Financial Benchmarker (2024, ), Specialty Trades EBIT margin of 7.1%. Cross-checked against public company filings including IES Holdings, Inc. SEC Form 10-K (2025, https://www.sec.gov/edgar/browse/?CIK=0001048268) at 11.4% and MYR Group Inc. SEC Form 10-K (2025, https://www.sec.gov/edgar/browse/?CIK=0001409371) at 4.6%.

Cost structure

Labor Pct Of Revenue3 research passes · medium31.7
Materials Pct Of Revenue3 research passes · verified24
Sga Overhead3 research passes · verified25.3%
Labor Pct Of Revenue Shared Across4

Labor Pct Of Revenue Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 4 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (2)
  • IBISWorld, US Industry (NAICS 23821) Report: Electricians in the US (2021)
  • CFMA / NECA Electrical Contractor Cost Benchmarks, 2024

Productivity

Revenue Per Employee6 research passes · high confidence$257K
Billable Utilization3 research passes · high confidence70%
Billable Utilization Pct Shared Across5

Billable Utilization Pct Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 5 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (2)
  • Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Census Bureau, 2022 Economic Census (Table EC2223BASIC, NAICS 238210 Electrical Contractors and Other Wiring Installation Contractors: $249.2B total output / 968,734 employees), cross-checked against IBISWorld 2025 NAICS 238210 Industry Report ($256,000 per employee), https://www.ibisworld.com | IBISWorld, Electricians in the US (NAICS 238210) Industry Report, https://www.ibisworld.com/united-states/market-research-reports/electricians-industry
  • National Electrical Contractors Association (NECA), Financial Performance Report

Seasonality

Peak Period Note. Electrical contracting revenue typically experiences seasonal weakness in the first quarter due to inclement winter weather and light bidding activity from late November through mid-January as clients finalize budgets. Revenue peaks during the third and fourth quarters when weather conditions are most favorable, project construction activity reaches its maximum pace, and customers accelerate spending to utilize annual capital budgets prior to year-end.

Cyclicality Note. The electrical contracting industry is cyclical and exposed to broader macroeconomic cycles, interest rate fluctuations, regional construction activity, and corporate/utility capital spending budgets. Industry revenues are sensitive to downturns in commercial real estate, residential housing starts, and general industrial production, though expansion in utility grid modernization, data centers, and renewable infrastructure provides long-term non-cyclical demand drivers.

Sources (2)
  • Quanta Services, Inc., Form 10-K Annual Report for the Fiscal Year Ended December 31, 2025 (filed February 19, 2026), MYR Group Inc., Form 10-K Annual Report for the Fiscal Year Ended December 31, 2025 (filed February 25, 2026), https://www.sec.gov
  • MYR Group Inc., Form 10-K Annual Report for the Fiscal Year Ended December 31, 2025 (filed February 25, 2026), IBISWorld, 'Electricians in the US' Industry Report (NAICS 23821, published January 2026), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry

Cash & working capital

Cash cycle

Dso Days6 research passes · medium57.35 days
Dpo Days6 research passes · medium33.42 days
Cash Conversion Cycle Days6 research passes · medium23.93 days
Sources (2)
  • MYR Group Inc. (MYRG) Financial Statements via GuruFocus, 2024
  • Calculated from MYR Group Inc. (MYRG) Financial Data (DSO 57.35 - DPO 33.42), 2024

Retainage & liens

Typical Retainage2 research passes · medium10%
Payment Dispute1 research pass · limited support33%
Typical Retainage Pct Shared Across11

Typical Retainage Pct Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 11 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (2)
  • CFMA Construction Retainage Overview, 2024
  • Rabbet, 2025 Construction Payments Report, 2025

Bad debt

Bad Debt Write Off4 research passes · verified0.00033%
Collection Rate3 research passes · high confidence85.1%
Collection Rate Pct Shared Across23%

Collection Rate Pct Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 23 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (2)
  • EMCOR Group, Inc. Form 10-K for the Fiscal Year Ended December 31, 2024
  • Level CFO State of Contractor Finance Benchmark Report (corroborated by CFMA 2024 Financial Benchmarker data,

AI exposure & technology

AI task exposure

Pct Physical Onsite Work5 research passes · medium58
Pct Cognitive Backoffice Work5 research passes · medium42

Task Breakdown Note. Work time for Electricians (SOC 47-2111) is divided between hands-on physical labor on-site (installing conduit/wiring, repairing equipment, climbing ladders, operating tools, low-posture wiring in unstructured environments) and cognitive/coordination/back-office duties (reading blueprints, designing wiring diagrams, estimating materials/costs, ordering supplies, maintaining job records, and inspecting for NEC compliance). McKinsey Global Institute task-automation research separately estimates that 23.8% of electrician work hours consist of automatable routine cognitive/coordination tasks, leaving 76.2% as non-automatable physical/on-site labor.

Ai Resistant Work. Physical on-site installation, hands-on troubleshooting, and dynamic field decision-making remain highly resistant to AI and robotic automation. Key physical tasks include pulling and routing cabling through unpredictable spaces, bending conduit, terminating fine wiring inside cramped junction boxes or panels, climbing utility poles, placing switchgear, and physical testing and commissioning. As highlighted in workforce analyses by Total Skills (2026) and American Career Training (2026), these tasks require human fine-motor dexterity, physical presence, and spatial adaptability in non-standardized environments. Oxford University's foundational automation study (Frey & Osborne) and subsequent industry analysis rate electricians in the low-risk category (15% probability of automation) because job sites present unpredictable physical variables, aging infrastructure, and unique layouts that current AI and robotics cannot navigate or manipulate.limited support

Automatable Work. Back-office administration, preconstruction coordination, estimating, contract management, and project scheduling are the most automatable functions in the electrical trade. According to Electrical Contractor Magazine / ELECTRI International (2025) and United BIM (2026), highly automatable tasks include: (1) Electrical Takeoff & Quantity Counting: AI tools automatically scan 2D PDF blueprints to count light fixtures, switches, receptacles, and circuit pathways. (2) Cost Estimating: Automated extraction of BIM geometry paired with national cost databases (e.g., RSMeans, Craftsman) to generate cost breakdowns and location-adjusted estimates. (3) 3D BIM & Clash Detection: Conversion of 2D PDF electrical drawings into 3D Revit models and automated clash detection to prevent spatial conflicts before installation. (4) Legal & Administrative Tasks: Automated review of subcontracts for risk exposure (using NLP tools like Document Crunch), transcription of site meetings (Otter.ai/Copilot), drafting safety compliance documentation, and tracking RFI/submittal delays.limited support

Sources (4)
  • McKinsey Global Institute / Illinois Labor Education Program (2018), 'Automation in Construction Trades: An Assessment of Impact on Workers and the Economy'
  • Oxford Economics / McKinsey Global Institute (2017), 'A Future That Works: Automation, Employment, and Productivity'
  • O*NET OnLine, Electricians SOC 47-2111.00 (2026), McKinsey Global Institute, Automation Potential and Wages for US Jobs (2018), https://public.tableau.com/profile/mckinsey.analytics
  • MDPI Buildings Journal (2026) - 'Automated Construction Cost Estimation Framework Using Model Context Protocol and Building Information Modeling'. | Electrical Contractor Magazine / ELECTRI International (2025) - 'How A.I. Is Streamlining Daily Workflows / State of A.I. in Electrical Contracting'. https://www.ecmag.com | NECA-IBEW Local 48 (2026) - 'Guide to AI & the Electrical Industry: What You Should Know'. https://necaibew48.com | Drawer AI (2026) - 'AI for Electrical Takeoff, Estimating, and BIM Coordination'. https://drawer.ai | McCormick Systems (2026) - 'How AI is Creating Demand for Electrical Contractors'. https://mccormicksys.com | United BIM (2026) - 'Key Applications of AI in Construction Management, Estimating, and BIM'. https://united-bim.com | Total Skills (2026) - 'Why Electrical Work Is Robot-Proof: AI and Automation Analysis'. https://totalskills.co.uk | American Career Training (2026) - 'Electrical Lineman Work is a Skilled Trade that Cannot Be Done by AI'. https://americancareertraining.edu

Field-service software

Fsm Adoption2 research passes · medium53%
Sources (1)
  • Jonas Construction Software (2021), Electrical Contractor Statistics: Why Electrical Contractors Need the Right Tech Tools

Accounting technology

Common Accounting Software. The primary accounting and ERP software systems used by US construction and electrical contractors are Sage (Sage 100 Contractor and Sage 300 CRE, leading with ~21.3% market adoption), Viewpoint (Trimble Vista/Spectrum at ~19.8%), Plexxis (~7.8%), Intuit QuickBooks (~5.2%), Foundation Software (~4.9%), Jonas Construction Software, and CMiC (~4.7%). Industry surveys indicate that 64% of electrical contractors utilize dedicated accounting/payroll software.

Integration Gap Note. A major field-to-accounting integration gap persists across specialty trade and electrical contractors: 66% of trade contractors operate with disconnected software systems, as only 34% have integrated their software workflows. When field/operations apps fail to integrate with office accounting platforms, over 50% of contractors manually transfer data between systems, with 40%+ relying on spreadsheets and ~14% using email. Electrical contractors spend an average of 9 hours per week on manual administrative tasks due to unautomated or unintegrated field-to-accounting workflows.

Sources (2)
  • JBKnowledge 2021 Construction Technology Report (2021), Electrical Contractor Magazine / Jonas Construction (2021
  • Electrical Contractor Magazine / Dodge Construction Network Trade Contractor Report (2023), JBKnowledge 2021 Construction Technology Report (2021), https://jbknowledge.com/report; Electrical Contractor Magazine Operations Survey (2024), https://www.ecmag.com

AI adoption

Ai Adoption Rate3 research passes · limited support25%

Adoption Examples. 1. Academic AI-BIM Estimating Study (MDPI Buildings, 2026): Researchers tested an AI framework integrating Large Language Models with Autodesk Revit via the Model Context Protocol (MCP) and cost databases for electrical system estimating. The system automatically extracted quantities across 187 BIM elements (conduits, panels, receptacles) and completed cost estimates in 42.3 seconds compared to 2.5-3.5 hours for human baselines, achieving a 98.6% efficiency gain with a 5.1% variance from human baseline accuracy. 2. ELECTRI International / NECA Industry Report (2025): Presented at NECA 2025 Chicago ('The State of A.I. in Electrical Contracting' by Mikec & Carr), documenting electrical contractor implementation of AI tools like Document Crunch for automated contract risk analysis, AI meeting transcription, and automated takeoff platforms. 3. Automated Preconstruction Platforms (Drawer AI, 2026): Adoption of AI software that processes 2D PDF electrical plans to automatically calculate branch routing and run 'BIM Wizard' workflows that generate full 3D Revit models from 2D PDFs, reducing drafting and preconstruction cycles by up to 75%. 4. AI Data Center Infrastructure Boom (McCormick Systems / NECA-IBEW 48, 2026): Reports highlight that AI technology expansion is driving massive high-density power construction, where electrical scope accounts for 45-70% of data center costs (vs 20-30% in commercial builds), forcing contractors to adopt AI takeoff tools to quickly bid on complex, high-demand power contracts.limited support

Sources (2)
  • EC&M (Electrical Construction & Maintenance) Top 50 Electrical Contractors Survey (2024)
  • MDPI Buildings Journal (2026) - 'Automated Construction Cost Estimation Framework Using Model Context Protocol and Building Information Modeling'. | Electrical Contractor Magazine / ELECTRI International (2025) - 'How A.I. Is Streamlining Daily Workflows / State of A.I. in Electrical Contracting'. https://www.ecmag.com | NECA-IBEW Local 48 (2026) - 'Guide to AI & the Electrical Industry: What You Should Know'. https://necaibew48.com | Drawer AI (2026) - 'AI for Electrical Takeoff, Estimating, and BIM Coordination'. https://drawer.ai | McCormick Systems (2026) - 'How AI is Creating Demand for Electrical Contractors'. https://mccormicksys.com | United BIM (2026) - 'Key Applications of AI in Construction Management, Estimating, and BIM'. https://united-bim.com | Total Skills (2026) - 'Why Electrical Work Is Robot-Proof: AI and Automation Analysis'. https://totalskills.co.uk | American Career Training (2026) - 'Electrical Lineman Work is a Skilled Trade that Cannot Be Done by AI'. https://americancareertraining.edu

Channel & disintermediation

Lead-gen platforms

Marketplace Penetration5 research passes · medium1.5%
Platform Take Rate5 research passes · high confidence10%
Marketplace Penetration Pct Shared Across11
Platform Take Rate Pct Shared Across13%

Platforms Note. For electrical trade contractors and home service pros on pay-per-lead marketplaces (e.g., Angi, Thumbtack), average lead costs range from $40 to $80 per shared lead (ranging from $15 for minor outlet fixes to $100+ for panel upgrades/rewiring). Contractors typically win 1 in 7 to 1 in 8 leads (10-15% conversion rate).

Marketplace Penetration Pct Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 11 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Platform Take Rate Pct Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 13 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (3)
  • Angi Inc. Q1 2026 Earnings Call Transcript (2026)
  • Angi Inc. Q1 2026 Shareholder Letter & Earnings Call (May 2026) -
  • Angi Inc. Q1 2026 Earnings Call (May 2026) -

Customer-acquisition mix

Pct Marketplace2 research passes · limited support28
Pct Marketplace Shared Across4

Pct Marketplace Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 4 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (1)
  • Home Services Marketing Report (2025)

Insurance & warranty

Home Warranty Penetration5 research passes · medium6%
Home Warranty Penetration Pct Shared Across6

Intermediation Note. Home warranty companies act as third-party intermediaries between homeowners and trade contractors (including electrical contractors) by managing customer acquisition, dispatching service requests, controlling job allocation, establishing reimbursement rate schedules, and monitoring service quality. When a covered electrical system breakdown occurs, the homeowner submits a service claim directly to the warranty provider rather than hiring a contractor directly. The warranty company dispatches an independent contractor firm from its network, with Frontdoor reporting its preferred contractor network completed 85% of its service requests in 2024. This model supplies trade contractors with steady job volume and reduced marketing costs, but intermediaries own the customer relationship, set compensation caps, and mandate service level agreements.

Home Warranty Penetration Pct Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 6 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (2)
  • Frontdoor, Inc. Form 10-K (2025)
  • Frontdoor, Inc., Form 10-K Annual Report (2024)

Lock-in & expansion

Recurring-revenue mix

Recurring Revenue4 research passes · medium35.5%
Service Agreement Attach3 research passes · medium15%

Recurring Note. Public electrical and mechanical specialty contractors report maintenance and service revenue ranging from 7.3% (Comfort Systems USA, 2025 10-K) to 21% (EMCOR Group, 2025 10-K). According to industry M&A analysis by Cascade Partners, electrical contractors with 25% or more recurring revenue command 1 to 3 turns of premium EBITDA multiples.

Sources (3)
  • EC&M / NECA 2024 Profile of the Electrical Contractor Survey (2024), cross-checked with Comfort Systems USA, Inc. 2025 Form 10-K (2026), https://www.sec.gov/edgar/browse/?CIK=0001035983
  • SmartService Trade Field Service Benchmarks, 2024
  • Cascade Partners, Electrical Contractor M&A Market Update, 2025/2026

Contract terms

Typical Contract Length Months5 research passes · high confidence12
Renewal Rate4 research passes · limited support85%
Typical Contract Length Months Shared Across8

Stickiness Note. Customer relationships in the US electrical trade demonstrate significant stickiness and lock-in, driven by long-standing master service agreements (MSAs) and preferred-provider positioning. High technical complexity, regulatory compliance requirements, and operational switching costs lead customers to rely on established contractors for repeat project work and ongoing maintenance across multi-year cycles.

Typical Contract Length Months Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 8 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (3)
  • Comfort Systems USA, Inc., Form 10-Q for the quarterly period ended March 31, 2026 (filed April 23, 2026), Note 3 (Revenue from Contracts with Customers): 'Our service maintenance agreements are generally one-year renewable agreements.'
  • CT Acquisitions, 2026
  • IES Holdings, Inc., Form 10-K for the fiscal year ended September 30, 2025 (filed November 21, 2025), Item 1 - Business: 'A significant portion of our Residential business volume is generated from long-term, repeat customers, some of whom use IES as a preferred provider for major projects.'

Cross-sell & expansion

Avg Services Per Customer2 research passes · limited support5.2
Upsell Attach2 research passes · limited support27.5%

Cross Sell Note. Electrical contractors and trade platforms routinely expand into adjacent categories such as low-voltage wiring, fire alarm/life safety, building automation systems, EV charging, and integrated MEP (mechanical, electrical, and plumbing) services to increase customer wallet share, smooth seasonal revenue, and build high-margin recurring service streams.

Sources (3)
  • Trade Economy Index research synthesis: median of 1 cited research input: Sunnova Energy International Inc. (2022), Analyst Day Investor Presentation
  • Trade Economy Index research synthesis: median of 2 cited research inputs: Electrician Marketing Agency, Electrical Industry Statistics & Market Analysis, 2025, | Skill Mammoth (2026), Residential Electrical & EV Charger Upgrade Benchmarks, https://skillmammoth.com
  • Cascade Partners, Electrical Contracting and Utility Infrastructure M&A Market Update, 2026

Entry barriers & data

Capital intensity

Startup Cost5 research passes · medium$205K
Capex Pct Of Revenue5 research passes · medium2.58

Equipment Note. Electrical contracting requires fleet vehicles (including service trucks, bucket trucks, digger derricks, and cranes for line work), specialized tools (wire pullers, tensioning machines, conduit benders, and testing devices), and regional or centralized fleet maintenance facilities.

Sources (3)
  • Mister Sparky 2026 Franchise Disclosure Document (FDD), Item 7 () reporting a startup investment range of $133,273 to $276,702 (midpoint: $204,988); cross-checked with Mr. Electric SPV LLC 2026 Franchise Disclosure Document (FDD), Item 7 reporting an initial investment range of $159,500 to $357,425.
  • MYR Group Inc. Form 10-K for the Fiscal Year Ended December 31, 2025 ($94.4 million CapEx / $3,657.9 million contract revenues), 2026
  • MYR Group Inc. Form 10-K for the Fiscal Year Ended December 31, 2025, 2026

Regulatory burden

Permit Burden Note. Electrical contractors in the U.S. operate within a fragmented compliance framework governed by state and municipal adoption cycles of National Fire Protection Association standard NFPA 70 (National Electrical Code / NEC). As of 2025, code enforcement varies across jurisdictions, with 20 states implementing the 2023 NEC, 19 states enforcing the 2020 NEC, 5 states using the 2017 NEC, and 2 states relying on the 2008 NEC, alongside local amendments by Authorities Having Jurisdiction (AHJs). Operators must manage local building permit approvals, plan reviews, pre-commissioning inspections, and state-level master/journeyman electrician licensing requirements.

Compliance Cost Note. Compliance costs for electrical trade businesses include direct operational, administrative, and workforce expenses. Operators must meet OSHA construction and general industry standards (29 CFR 1926 Subpart K and 29 CFR 1910 Subpart S), implement NFPA 70E electrical safety workplace practices (arc flash assessments, specialized PPE, and safety training), and adhere to NFPA 70B standards requiring formal Electrical Maintenance Programs (EMPs). Overhead costs are further compounded by state licensing renewal fees, mandatory continuing education units (CEUs), commercial general liability insurance, surety bonding, and administrative labor for permit processing.

Regulatory Tailwind Note. Federal and state regulations are driving substantial demand growth for electrical service providers. The U.S. Department of Energy administers $8.8 billion in Inflation Reduction Act (IRA) Home Energy Rebates, including the Home Electrification and Appliance Rebates (HEAR/HEEHRA) program, which provides up to $4,000 for electrical panel upgrades and up to $2,500 for wiring upgrades. Demand is further accelerated by the $5 billion National Electric Vehicle Infrastructure (NEVI) Formula Program under the Bipartisan Infrastructure Law and municipal adoptions of the International Code Council's 2024 International Energy Conservation Code (IECC Appendices CG and RE), which mandate EV-ready and EV-capable infrastructure for commercial and residential construction.

Sources (3)
  • National Fire Protection Association (NFPA), 2025
  • Occupational Safety and Health Administration (OSHA) / NFPA, 2026
  • U.S. Department of Energy (DOE) / International Code Council (ICC), 2026

Data assets

Iot Telemetry Penetration5 research passes · medium35%

Data Assets Note. Electrical contractors and power distribution platforms systematically accumulate structured asset and job data including circuit-level load metering, real-time energy telemetry, total harmonic distortion (%THD), true RMS voltage/current readings, waveform captures, breaker trip logs, panel schedules, wire runs, work orders, and project estimating data.

Sources (2)
  • World Metrics Electrical Contractor Technology Adoption Report, 2026
  • Eaton Corporation, 'IQ Energy Meters & Smart Panel Solutions', 2024, NECA / NECA-IBEW Local 48, 'Guide to AI & the Electrical Industry', 2026, https://www.necaibew48.com

M&A, PE & valuation

Consolidation

Consolidation Activity. The US electrical trade is experiencing highly active and accelerating private equity roll-up and consolidation. According to Capstone Partners' AEC Services Sector Update (2026, https://www.capstonepartners.com), M&A deal volume across AEC and electrical/construction services rose 10.1% YoY in 2025 to 361 transactions, propelled by private equity transactions which surged 32.7% YoY. PE buyers accounted for 38.3% of all sector deals in 2025, up 181.6% since 2018, with sector EBITDA multiples averaging 13.2x EV/EBITDA. Additionally, PitchBook Data cited by BMI Mergers & Acquisitions (2025, https://www.bmimergers.com) reported that lower-middle-market electrical contractor M&A volume increased 13% in 2024 as financial sponsors deployed buy-and-build strategies. According to PE Hub (2025, https://www.pehub.com), consolidation intensity is particularly strong in electrical power infrastructure, grid services, and technical electrical contracting, where secular tailwinds from AI data center buildouts and power grid modernization have driven exit valuations up to 16x-20x EBITDA.

Notable Platforms. Notable private equity platforms and public company acquirers actively rolling up US electrical contractors and power service providers include: (1) Shermco Industries, acquired by Blackstone Energy Transition Partners from Gryphon Investors in August 2025 for $1.6B as an electrical power testing, inspection, and maintenance platform (PE Hub, 2025, https://www.pehub.com; Axios Pro, 2025, https://www.axios.com); (2) Apex Service Partners, backed by Alpine Investors, which has grown into a major multi-trade roll-up platform with ~$1.3B in annual revenue covering residential/commercial HVAC, plumbing, and electrical services (CT Acquisitions, 2026, https://www.ctacquisitions.com); (3) Champions Group, acquired by Blackstone via its BXPE fund in February 2026 for ~$2.5B enterprise value as an electrical, plumbing, and HVAC services platform (CT Acquisitions, 2026, https://www.ctacquisitions.com); (4) Norlee Group, backed by Heartwood Partners, an electrical and mechanical design platform that acquired Tampa-based Inter-Bay Electric Company in November 2025 (PE Hub, 2025, https://www.pehub.com); (5) Bowe & Gant Electrical Services, which secured a majority growth investment from Greenbelt Capital Management in July 2026 for electrical and energy infrastructure services (PE Hub, 2026, https://www.pehub.com); and (6) MYR Group Inc. (NASDAQ: MYRG), a public strategic consolidator acquiring regional commercial electrical contractors (Main Street Wealth / MYR Group, 2025, https://www.myrgroup.com).

Sources (7)
  • Capstone Partners AEC Services Sector Update (2026, ); PitchBook Data via BMI Mergers & Acquisitions (2025, https://www.bmimergers.com); PE Hub (2025, https://www.pehub.com
  • PE Hub (2025/2026, ); Axios Pro (2025, https://www.axios.com); CT Acquisitions PE Trackers (2026, https://www.ctacquisitions.com
  • https://www.capstonepartners.com
  • https://www.pehub.com
  • https://www.axios.com
  • https://www.bmimergers.com
  • https://www.ctacquisitions.com

Valuation multiples

Typical Ebitda Multiple Low3 research passes · verified3.5x
Typical Ebitda Multiple High3 research passes · high confidence8.5x

Multiple By Size Note. According to GF Data figures cited by BMI Mergers, valuation multiples increase significantly with company size: smaller electrical contracting acquisitions ($3 million to $8 million in EBITDA) average 6.2x to 6.4x EBITDA, whereas larger deals ($8 million+ EBITDA) command an average multiple of 7.8x EBITDA. Across the broader trade, smaller or less attractive shops tend to sell for 5.0x EBITDA or less, while larger, more attractive platforms reach 8.0x EBITDA or higher.

Sources (3)
  • Auxo Capital Advisors (2026, ), reporting low-end EBITDA multiples starting at 3.5x for smaller, owner-dependent US electrical contractors; cross-checked with BMI Mergers & Acquisitions (2024, https://bmimergers.com), reporting low-end ranges of 3.5x-5.0x EBITDA for smaller electrical contractors.
  • Auxo Capital Advisors (2026, ), reporting high-end EBITDA multiples of 8.5x+ for scaled platform companies and strategic add-ons; cross-checked with GF Data / BMI Mergers & Acquisitions (2025, https://bmimergers.com), reporting averages of 7.8x-8.0x+ EBITDA for larger electrical platforms.
  • BMI Mergers & Acquisitions, 'A Surge in Connections: Electrical Contractor M&A Rebounds' (2025)

Exit environment

Buyer Demand. Buyer demand for US electrical contracting and services businesses is strong, driven by active private equity sponsors and strategic consolidators building market scale. Demand is propelled by long-term tailwinds including rapid AI data center expansion, grid modernization, renewable energy infrastructure, and federal funding. Buyers place the highest value on scaled operators with strong safety records, robust project backlogs, skilled technician retention, high-margin specialized service capabilities, and recurring service revenue.

Exit Trend. The exit trend for US electrical business owners is heating up, characterized by accelerating deal flow and rising private equity participation. In 2025, M&A volume in the subcontractor segment increased 38.6% year-over-year to 366 deals, with private equity M&A rising 30.9% year-over-year to 305 transactions, marking the first time financial buyers represented the majority (54.3%) of sector transactions. Valuations remain strong, averaging 6.2x-7.8x EBITDA for lower-middle-market businesses and reaching 9.0x-10.8x EBITDA for larger platform and data-center specialized targets.

Sources (4)
  • CLA Meridian Capital, Electrical Contracting Services M&A Update (2025)
  • Capstone Partners, Construction Services Market Update (2026)
  • https://www.meridianib.com/reports/electrical-contracting-services-ma-update

Demand & growth

Demand drivers

Installed Base Units3 research passes · medium145,344,636
Installed Base Units Shared Across5

Replacement Vs New Note. According to the Profile of the Electrical Contractor research by ELECTRI International and Electrical Contractor Magazine, maintenance, service, or repair (MSR) accounts for 39.7% of electrical contractor revenue, new construction accounts for 31.7%, and modernization and retrofit projects account for approximately 28.6%.

Demand Drivers Note. Key demand drivers for the U.S. electrical trade include private and public construction spending, rapid growth in data center construction driven by AI demand, building infrastructure electrification (such as EV charging and heat pumps), energy efficiency upgrades, and retrofits or repairs for aging building stock.

Installed Base Units Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 5 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (3)
  • U.S. Census Bureau (2024)
  • ELECTRI International / Electrical Contractor Magazine (2026)
  • IBISWorld (2026)

Macro correlation

Housing Correlation Note. U.S. residential construction spending (FRED series TLRESCONS) and housing starts (FRED series HOUST, U.S. Census Bureau) drive baseline residential electricity demand by increasing total housing stock, customer counts, and floor area. According to a U.S. Department of Energy (DOE / PNNL) study, expansions in residential floor space driven by population growth and home construction are the single largest long-term driver of building electricity demand growth, far exceeding climate drivers. Furthermore, the U.S. Energy Information Administration (EIA) reports that structural electrification in newly constructed homes has increased residential power demand intensity, with 42% of U.S. homes using electricity as their primary space heating fuel in 2024.

Commercial Correlation Note. Commercial construction spending (FRED series TLCOMCONS, U.S. Census Bureau) historically correlated with overall commercial floor area and power sales, but demand growth is increasingly decoupled from pure square footage due to structural shifts toward high-power-density facilities like data centers. The U.S. Energy Information Administration (EIA) projects commercial electricity sales to surpass residential sales, driven heavily by data center computing construction. EIA reports that servers accounted for 7% of commercial building electricity consumption in 2025 and are projected to reach 22% to 33% of commercial building electricity consumption by 2050, reversing historical trends in commercial energy intensity per square foot.

Climate Sensitivity Note. U.S. power demand exhibits strong short-term sensitivity to climate and seasonal weather variations, primarily measured via population-weighted Cooling Degree Days (CDDs) for air conditioning and Heating Degree Days (HDDs) for space heating. The U.S. Energy Information Administration (EIA) estimates that space heating, cooling, and ventilation account for 46% of all energy consumed in U.S. residential and commercial buildings. Under EIA long-term warmer climate scenarios, increasing CDDs drive a 4% to 5% increase in building electricity consumption nationwide by 2050 due to rising summer cooling loads, elevating peak summer electricity demand and wholesale prices.

Sources (3)
  • U.S. Department of Energy (DOE) / Pacific Northwest National Laboratory (PNNL), 'Population Growth Drives Future Building Electricity Consumption' (2020), ; U.S. Census Bureau & FRED, 'New Privately-Owned Housing Units Started: Total Units' (HOUST) (2026), ; U.S. Census Bureau & FRED, 'Total Construction Spending: Residential in the United States' (TLRESCONS) (2026), https://fred.stlouisfed.org/series/TLRESCONS ; U.S. Energy Information Administration (EIA), 'Electricity use is becoming more common for residential heating' (2025), https://www.eia.gov/todayinenergy/detail.php?id=63222
  • U.S. Energy Information Administration (EIA), 'Annual Energy Outlook 2026' (AEO2026) & STEO Analysis (2026), ; U.S. Census Bureau & FRED, 'Total Construction Spending: Commercial in the United States' (TLCOMCONS) (2026), https://fred.stlouisfed.org/series/TLCOMCONS
  • U.S. Energy Information Administration (EIA), 'Annual Energy Outlook 2022: Weather Sensitivity Analysis' (2022), ; U.S. Environmental Protection Agency (EPA), 'Climate Change Indicators: Seasonal Energy Use' (2022

Search interest

Yoy Search Change1 research pass · limited support40%

Search Trend Note. Consumer search interest for US electrical services is trending strongly upward, driven by high-intent local queries such as 'electrician near me' as well as rapidly growing specialized requests like EV charger installations.

Sources (2)
  • Portland Peak SEO (Electrical Search Landscape: Data Behind Electrician SEO Services, 2026)
  • Amra & Elma (2025)

Reputation & customer

Customer acquisition

Typical Cac4 research passes · medium$109.5
Avg Review Volume5 research passes · medium39
Complaint CategoriesService or Repair Issues, Customer Service Issues, Billing Issues, Order Issues, Product Issues
Avg Review Volume Shared Across6

Avg Review Volume Note. This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 6 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.

Sources (3)
  • FirstPageSage, Average Customer Acquisition Cost (CAC) by Industry: B2C Edition, 2025
  • BrightLocal (2026), (Cross-checked with Trustmary (2025), https://trustmary.com
  • Better Business Bureau (BBB), US BBB Statistics and Complaint Classifications, 2023

Segment economics

How the unit economics differ by end market. Commercial and industrial work typically carries different margin, cash-cycle, and utilization profiles than residential. Published figures retain their citations.

MetricResidentialCommercialIndustrial
Gross margin26.2%3 research passes · medium22.4%3 research passes · medium22.4%3 research passes · official source
Operating margin9.9%3 research passes · medium7.1%3 research passes · medium7.1%3 research passes · medium
Net margin6.9%3 research passes · mediumn/an/a
Revenue / employee$257K3 research passes · official source$257K3 research passes · high confidence$257K3 research passes · limited support
Gross profit / labor hour$921 research pass · limited support$101.52 research passes · limited supportn/a
Billable utilization65%2 research passes · high confidence67.5%1 research pass · medium70%1 research pass · limited support
Cash conversion cycle48.36 days1 research pass · limited support51.68 days2 research passes · limited support36.13 days2 research passes · verified
Days sales outstanding56.6 days3 research passes · medium59 days3 research passes · medium57 days3 research passes · verified
Labor % of revenue31.7%2 research passes · medium31.7%3 research passes · medium31.7%3 research passes · medium

Unit economics by revenue band

The same trade runs very different numbers at $500K than at $30M. Here are the operating benchmarks by annual-revenue band. Every cell shown carries an external, citable source (CFMA revenue-tier benchmarks, IBISWorld). Blank cells are metrics no public source splits by band.

MetricUnder $1M$1M to $5M$5M to $20MOver $20M
Gross margin38.5%medium22.4%medium22.4%medium21.8%high confidence
Collection rate85.1%limited support85.1%limited support85.1%mediumn/a
Days sales outstanding30 daysmedium56.6 daysmedium52 daysmedium76 dayshigh confidence
Recurring revenuen/a20%limited support14%medium25%medium

Market structure

National permit and contractor-density aggregates from public county tax-assessor and building-permit records. Aggregate-only; no individual property or business identified.

Building permits (national)

YearPermitsContractorsMedian job valueP90 job value
20222,605,46296,996$5K$162K
20232,771,86094,178$6K$203K
20241,680,28586,411$6K$217K

Contractor size tiers

Size tierContractorsAvg total permit value
Micro (5-19)58,640$1.59M
Small (20-99)30,856$6.84M
Mid (100-499)8,715$25.15M
Large (500+)1,988$202.03M

Top states by permit volume

StatePermitsContractorsMedian job value
FL985,55629,157$4K
CA825,58733,638$4K
TX512,68417,555$6K
WA503,7445,834$5K
OR427,1426,672$840
NC425,03415,650$9K
IL351,4795,969$2K
MN319,9984,180$8K
MA286,24910,709$9K
CO259,5635,393$7K

Geography

Wage differentials and licensing/bonding regimes vary widely by state, and contractor density and permit trends by metro. Every figure carries its state or metro source (BLS/OEWS, licensing boards, permit records). Aggregate-only.

Wages by state (median hourly)

Ranked high to low. Differential vs the national median. Source: state BLS/OEWS.

StateMedian hourlyvs national
Illinois$45.72+53.45%
Oregon$42.68+43.25%
Hawaii$42.44+42.44%
Alaska$39.50+32.57%
Washington$39.44+32.37%
Massachusetts$39.02+30.96%
Minnesota$37.52+25.93%
California$37.25+25.02%
New York$37.23+24.95%
North Dakota$36.60+22.84%
Wisconsin$35.89+20.46%
Connecticut$33.18+11.36%
Indiana$32.91+10.45%
New Jersey$32.81+10.12%
Rhode Island$31.85+6.9%
Pennsylvania$31.59+6.02%
Montana$31.05+4.21%
Wyoming$30.98+3.98%
Iowa$30.61+2.74%
Ohio$30.46+2.23%
West Virginia$30.34+1.83%
Maryland$30.30+1.69%
Michigan$30.28+1.63%
Missouri$30.11+1.06%
Maine$29.79-0.02%
Delaware$29.32-1.59%
Colorado$29.25-1.83%
New Hampshire$29.22-1.93%
Idaho$29.17-2.1%
Nevada$29.07-2.43%
Arizona$29.06-2.47%
Virginia$29.00-2.67%
Kansas$28.79-3.37%
Utah$28.79-3.37%
Nebraska$28.68-3.74%
Louisiana$28.49-4.38%
Mississippi$28.16-5.49%
Oklahoma$27.76-6.83%
South Dakota$27.76-6.83%
Kentucky$27.47-7.8%
Vermont$27.02-9.31%
New Mexico$26.92-9.65%
Texas$26.87-9.82%
Tennessee$26.62-10.66%
Georgia$26.59-10.76%
South Carolina$24.98-16.16%
Alabama$24.76-16.9%
North Carolina$24.49-17.81%
Florida$24.10-19.11%
Arkansas$23.31-21.77%
Metro-level detail (50 metros)
Atlanta, GA

According to the U.S. Bureau of Labor Statistics May 2023 OEWS, the Atlanta-Sandy Springs-Roswell, GA MSA employed 12,160 electricians (SOC 47-2111), representing a density of 4.32 electricians per 1,000 total jobs in the metropolitan area and a location quotient of 0.92.

Metro Atlanta experienced strong residential construction activity in 2023 with 38,639 total units permitted (including 24,136 single-family permits). Through mid-2025, the Atlanta-Sandy Springs-Roswell MSA ranked 4th nationally with 11,833 YTD single-family permits, though elevated interest rates led to a 42.0% year-over-year decrease in single-family permitting in early 2026.

Austin, TX

According to the U.S. Bureau of Labor Statistics (BLS), there were 5,490 electricians (SOC 47-2111) employed in the Austin-Round Rock, TX metropolitan area.

Total housing units authorized by building permits in the Austin metro area reached 26,964 units in 2025, a 16.5% decline from 32,294 units approved in 2024. Single-family construction accounted for 55.5% of total permitted units.

Baltimore, MD

According to the U.S. Bureau of Labor Statistics OEWS dataset, the Baltimore-Columbia-Towson, MD metropolitan statistical area employed approximately 6,750 electricians (SOC 47-2111) as of May 2023, representing a density of approximately 5.18 electricians per 1,000 total jobs in the metro area.

New private housing structures authorized by building permits in the Baltimore-Columbia-Towson, MD MSA experienced a moderating trend through 2023-2025, averaging between 300 and 500 units per month as elevated mortgage rates and supply constraints slowed residential construction activity.

Birmingham, AL

According to the U.S. Bureau of Labor Statistics, the Birmingham-Hoover, AL MSA employed 2,490 electricians (SOC 47-2121) representing 4.899 per 1,000 jobs (Location Quotient: 1.04), alongside 1,730 electrician helpers (SOC 47-3013) at 3.40 per 1,000 jobs.

Residential building permit issuance in the Birmingham-Hoover MSA expanded 59.7% year-over-year to 4,384 authorized housing units over the trailing 12 months (3.71 permits per 1,000 residents), with construction concentrated primarily in Jefferson and Shelby counties.

Boston, MA

According to the U.S. Bureau of Labor Statistics May 2023 OEWS data, there were 15,010 employed electricians (SOC 47-2111) in the Boston-Cambridge-Nashua, MA-NH metropolitan area, representing a location quotient of 1.16 relative to the national average.

In Greater Boston, annual residential housing units authorized by building permits peaked at 15,019 units in 2021 before declining sharply to under 9,000 units in 2024, with year-to-date 2025 permitting levels down 44 percent compared to 2021 peak levels.

Buffalo, NY

As of May 2023, the Buffalo-Cheektowaga-Niagara Falls, NY MSA employed 2,310 electricians (SOC 47-2111), corresponding to a location quotient of 0.94 and an annual mean wage of $77,400.

Residential building permit activity in the Buffalo-Cheektowaga-Niagara Falls MSA shifted from 3,197 total units in 2022 down to 2,101 units in 2023, and reached 2,659 units for the 12 months ending July 2024, reflecting a modest rebound off historically low construction levels.

Charlotte, NC

According to the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Charlotte-Concord-Gastonia, NC-SC metropolitan statistical area had 6,420 employed electricians (SOC 47-2111) as of May 2024, representing an employment density of approximately 4.88 electricians per 1,000 total jobs.

According to HUD Housing Market Profiles citing Census Building Permits Survey data, single-family sales units permitted in the Charlotte MSA totaled 19,150 in 2023 (down less than 1% from 19,250 in 2022), while multifamily rental units permitted fell 36% to 12,950 units as builders responded to rising interest rates and absorption of new supply.

Chicago, IL

According to U.S. Bureau of Labor Statistics data for the Chicago-Naperville-Elgin, IL-IN-WI metropolitan statistical area, there were 15,860 employed electricians (SOC 47-2111) as of May 2023, corresponding to a location quotient of 0.75 relative to the national average.

U.S. Census Bureau Building Permits Survey data shows the Chicago-Naperville-Elgin metropolitan area authorized 14,821 housing units in 2023 (~162 units per 100,000 residents), reflecting a sluggish residential permitting pace compared to historical levels and other major U.S. metropolitan markets.

Cincinnati, OH

According to the U.S. Bureau of Labor Statistics May 2023 OEWS estimates, the Cincinnati, OH-KY-IN metropolitan statistical area employed 5,430 electricians (SOC 47-2111).

Single-family building permits in the Cincinnati MSA increased to 4,250 units for the 12 months ending August 2025, up from 3,925 in the prior 12-month period. Multifamily permitting slightly declined to 2,525 units from 2,650 over the same timeframe.

Cleveland, OH

As of May 2023, the Cleveland-Elyria, OH metropolitan area employed 3,810 electricians (SOC 47-2121), representing an employment concentration location quotient of 0.81 relative to the national average.

Building permit activity in the Cleveland-Elyria metro reached 4,175 total housing units permitted over a trailing 12-month period, reflecting a 28.6% year-over-year increase, driven by strong growth in Cuyahoga County (1,601 permits, up 43.2% year-over-year).

Columbus, OH

According to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Columbus, OH Metropolitan Statistical Area employed 5,390 electricians (SOC 47-2111) as of May 2024, representing an employment density of approximately 4.9 electricians per 1,000 total jobs in the metro area.

According to the U.S. Census Bureau Building Permits Survey, building permit activity in the Columbus, OH MSA reached 13,709 authorized units over a trailing 12-month period, marking a 63.7% year-over-year increase driven heavily by multi-family residential construction.

Dallas-Fort Worth, TX

According to the BLS Occupational Employment and Wage Statistics (OEWS), there were 18,730 employed electricians (SOC 47-2111) in the Dallas-Fort Worth-Arlington, TX metropolitan statistical area as of May 2023, representing an employment density of 4.72 electricians per 1,000 jobs in the metro area.

New residential building permit volume in the Dallas-Fort Worth-Arlington MSA maintained a high monthly pace between 3,000 and 6,000 authorized housing units per month through 2023 and 2024, maintaining DFW's position as one of the largest building permit markets in the United States.

Denver, CO

According to the Bureau of Labor Statistics, the Denver-Aurora-Lakewood, CO metropolitan statistical area employed 9,670 electricians (SOC 47-2111) in May 2023, with a location quotient of 1.30, indicating an electrician workforce concentration 30% higher than the national average.

New residential building permits in the Denver-Aurora-Lakewood metro area experienced a downward trend, dropping 21.8% in 2022 to 23,472 authorized units. In the 12 months ending August 2023, single-family sales permits in the Denver submarket dropped 34% year-over-year to 1,175 units, while permitted rental units declined 23% to 7,550 units.

Detroit, MI

According to the U.S. Bureau of Labor Statistics, the Detroit-Warren-Dearborn, MI metropolitan statistical area employed 11,540 electricians (SOC 47-2111) as of May 2023, representing a concentration of 6.08 electricians per 1,000 jobs and a location quotient of 1.29 relative to the national average.

New private housing structures authorized by building permits in the Detroit-Warren-Dearborn, MI MSA reached 728 units in May 2026, with a trailing 12-month total of 8,825 permitted units, reflecting a modest year-over-year decrease of 2.3%.

Hartford, CT

According to the U.S. Bureau of Labor Statistics May 2023 Occupational Employment and Wage Statistics (OEWS), the Hartford-West Hartford-East Hartford, CT Metropolitan Statistical Area employed 2,470 electricians (SOC 47-2111), representing an employment location quotient of 0.93 relative to the national average, with a mean hourly wage of $34.07 and an annual mean wage of $68,220.

According to the U.S. Census Bureau Building Permits Survey, the Hartford-West Hartford-East Hartford, CT metropolitan area authorized 120 residential housing units in May 2026 and 1,270 units over the trailing 12 months (a 79.1% increase compared to May 2025), with multifamily structures (5+ units) representing 59.2% of total permitted units.

Houston, TX

According to the U.S. Bureau of Labor Statistics, the Houston-The Woodlands-Sugar Land, TX MSA employed 19,600 electricians (SOC 47-2111) in May 2023, representing a density of 6.16 electricians per 1,000 jobs (location quotient of 1.31) and ranking second nationwide among all U.S. metropolitan areas for electrician employment.

The Houston-The Woodlands-Sugar Land, TX metro area authorized 68,755 residential housing units under building permits in 2023 (including 50,444 single-family homes), leading all U.S. metropolitan areas in residential permit activity despite a 9.3% decrease from the 2022 record of 75,786 permitted units. Over the five-year period from 2019 through 2023, the metro authorized 343,779 housing units.

Indianapolis, IN

According to May 2023 BLS OEWS estimates, there were 4,980 employed electricians (SOC 47-2111) in the Indianapolis-Carmel-Anderson, IN MSA, representing an employment density of approximately 4.59 electricians per 1,000 jobs with an annual mean wage of $68,200.

Single-family building permitting in the Indianapolis-Carmel-Anderson metro increased in 2024 compared to 2022 and 2023, while multifamily permitting slowed relative to its 2022-2023 average of 2,475 units per year. Overall residential activity shifted heavily toward suburban ring counties such as Hamilton and Hendricks.

Jacksonville, FL

According to the U.S. Bureau of Labor Statistics, the Jacksonville, FL metropolitan statistical area employed approximately 3,700 Electricians (SOC 47-2111) as of May 2023, representing an employment concentration (location quotient) of 1.06 compared to the national baseline.

According to the U.S. Census Bureau Building Permits Survey, new privately-owned housing units authorized by building permits in the Jacksonville, FL Core-Based Statistical Area (CBSA) totaled 15,002 units in 2024, representing a slight 2.7% decrease from the 15,411 units authorized in 2023.

Kansas City, MO

According to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Kansas City, MO-KS metropolitan area employed 5,090 electricians (SOC 47-2111) with an annual mean wage of $69,020 and a location quotient of 1.01 relative to national density.

In the Kansas City regional metro area, single-family residential building permit volume reached 4,388 units in 2025, representing a slight 3% decrease from 4,509 units in 2024. However, permit issuance rebounded strongly in early 2026, with 2,358 single-family units permitted through May 2026, a 32% increase compared to the first five months of 2025.

Las Vegas, NV

According to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Las Vegas-Henderson-Paradise, NV metropolitan statistical area had 6,070 employed electricians (SOC 47-2111) in May 2023, with an annual mean wage of $69,290 ($33.31 hourly mean).

New private housing units authorized by building permits in the Las Vegas-Henderson-Paradise MSA grew from 13,066 units in 2022 to 13,073 in 2023, 14,754 in 2024, and 14,466 in 2025, reflecting an overall upward trend in metro building permitting volume following a brief dip in 2022.

Los Angeles, CA

According to the Bureau of Labor Statistics OEWS, there were 19,520 employed Electricians (SOC 47-2111) in the Los Angeles-Long Beach-Anaheim, CA metropolitan statistical area, representing approximately 3.155 electricians per 1,000 jobs in the metro area with a mean annual wage of $83,090.

Building permit activity for new private housing structures in the Los Angeles-Long Beach-Anaheim MSA trended downward from 31,295 units in 2022 to 28,735 units in 2023 and 27,242 units in 2024 (an overall decline of ~13% over two years) before stabilizing at 27,513 units in 2025.

Louisville, KY

According to the U.S. Bureau of Labor Statistics May 2023 Occupational Employment and Wage Statistics (OEWS), there were 3,610 employed electricians (SOC 47-2111) in the Louisville/Jefferson County, KY-IN Metropolitan Statistical Area, representing a location quotient of 1.16 (approximately 5.42 electricians per 1,000 total jobs).

New residential construction permitting in Louisville Metro has trended downward in recent years, averaging 1,488 new construction permits annually between 2019 and 2023 compared to 3,613 permits annually between 2014 and 2018, with 1,239 new construction permits issued in 2023.

Memphis, TN

According to the U.S. Bureau of Labor Statistics May 2023 OEWS report, the Memphis, TN-MS-AR Metropolitan Statistical Area employs approximately 2,800 Electricians (SOC 47-2111), with an average hourly wage of $27.26 and an annual mean wage of $56,700.

Residential building permit and overall housing construction activity in the Memphis, TN-MS-AR metro area moderated following post-2021 peak levels. HUD market data as of mid-2024 indicates a 14% year-over-year decline in home sales, creating a softer residential permitting environment.

Miami, FL

According to the U.S. Bureau of Labor Statistics May 2023 Occupational Employment and Wage Statistics (OEWS), the Miami-Fort Lauderdale-West Palm Beach, FL metropolitan statistical area employed 12,400 electricians (SOC 47-2111), representing a density of 4.55 electricians per 1,000 total jobs in the metropolitan area.

According to U.S. Census Bureau Building Permits Survey data, housing units authorized by building permits in the Miami-Fort Lauderdale-Pompano Beach, FL MSA track ongoing regional residential development across single-family and multi-family construction projects.

Milwaukee, WI

In the Milwaukee-Waukesha-West Allis, WI metropolitan statistical area, there were 3,250 employed electricians (SOC 47-2111) as of May 2023, representing a concentration of 3.982 electricians per 1,000 jobs (location quotient of 0.85) and a median hourly wage of $39.01 ($78,170 annual mean wage).

Residential construction permit activity in the Milwaukee-Waukesha-West Allis metro area has been balanced, with unit growth heavily driven by multi-family developments (e.g., 1,183 multi-family units authorized across 19 new apartment developments in the City of Milwaukee in 2023) alongside steady single-family construction across the broader metropolitan area.

Minneapolis-St. Paul, MN

According to the U.S. Bureau of Labor Statistics OEWS, there were 8,110 employed electricians (SOC 47-2111) in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan statistical area as of May 2024.

For the 12 months ending October 2025, single-family building permits in the Minneapolis-St. Paul-Bloomington metro increased 14% year-over-year to 10,500 units (up from 9,200), while multifamily permits rose 22% to 6,550 units (up from 5,350), though multifamily construction remained well below its 2019-2023 annual average of 12,850 units.

Nashville, TN

In the Nashville-Davidson--Murfreesboro--Franklin, TN MSA, there were 6,110 employed electricians (SOC 47-2111), representing a location quotient of 1.21 and a density of 5.68 electricians per 1,000 total jobs in the metropolitan area.

The Nashville-Davidson--Murfreesboro--Franklin, TN MSA authorized 17,930 total new private housing units in building permits over the trailing 12-month period, reflecting a 19.0% year-over-year increase and a permitting rate of 8.77 permits per 1,000 residents.

New Orleans, LA

According to the BLS OEWS, the New Orleans-Metairie, LA MSA had 2,650 employed electricians (SOC 47-2111) as of May 2023, representing a density of 5.153 electricians per 1,000 total jobs in the metropolitan area and a location quotient of 1.10.

New private residential housing permits in the New Orleans-Metairie, LA MSA have exhibited a moderating trend in recent years, consistent with regional pullbacks in single-family residential construction permitting influenced by elevated interest rates and elevated local property insurance costs.

New York, NY

In the New York-Newark-Jersey City, NY-NJ-PA metropolitan statistical area, the U.S. Bureau of Labor Statistics reported 39,310 employed electricians (SOC 47-2111), representing a trade density of 4.14 electricians per 1,000 jobs and a location quotient of 0.88.

In the New York-Newark-Jersey City MSA, residential permitting authorized over 54,000 to 58,000 units annually in recent years, driven primarily by multifamily construction (over 80% of total permits), with single-family permits increasing by 11% in 2025 despite temporary pullbacks in high-density multifamily filings.

Oklahoma City, OK

According to U.S. Census Bureau County Business Patterns (CBP) data, there were 402 electrical contracting establishments (NAICS 238210: Electrical Contractors and Other Wiring Installation Contractors) operating in the Oklahoma City metropolitan area. Additionally, U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) data reported 2,830 employed electricians in the Oklahoma City, OK MSA as of May 2023, with a mean hourly wage of $28.59 and mean annual earnings of $60,890.

Residential building permit and construction activity in the Oklahoma City metropolitan area remained active into 2024, with HUD reporting demand for 19,550 new homes over a 3-year forecast period and 4,250 single-family homes alongside 5,525 multifamily/rental units under construction during the 12 months ending May 2024. Long-term permit volume in Oklahoma County and the surrounding metro has outpaced the rest of the state, doubling over the preceding decade.

Orlando, FL

As of May 2023, the Orlando-Kissimmee-Sanford, FL Metropolitan Statistical Area employed 6,460 electricians (SOC 47-2111), representing an employment concentration (location quotient) of 1.01 relative to the national average.

New private residential housing structures authorized by building permits in the Orlando-Kissimmee-Sanford MSA experienced strong post-pandemic expansion before moderating into 2023 and 2024 amid higher mortgage interest rates.

Philadelphia, PA

According to BLS Occupational Employment and Wage Statistics, the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan statistical area employs 9,590 electricians (SOC 47-2111), representing a density of 3.39 electricians per 1,000 jobs and a location quotient of 0.72 relative to the national average.

According to U.S. Census Bureau Building Permits Survey data, residential unit authorizations in Philadelphia County dropped sharply following a 2021 peak of 25,257 units down to 3,223 units in 2022, 3,863 units in 2023, and 2,962 units in 2024, marking a multi-year downturn in new residential building activity across the metro core.

Phoenix, AZ

According to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Phoenix-Mesa-Chandler, AZ metropolitan statistical area employed 16,740 electricians (SOC 47-2111) as of May 2024, with an average hourly wage of $29.58 ($61,530 annual mean wage).

According to the U.S. Census Bureau Building Permits Survey, residential permit authorizations in the Phoenix-Mesa-Chandler, AZ MSA totaled 45,616 units in 2023 and 45,884 units in 2024 (with total authorized construction value reaching $11.12 billion), reflecting a stabilization in overall residential permitting following a peak in multi-family construction during 2022-2023.

Pittsburgh, PA

According to the BLS Occupational Employment and Wage Statistics, there were 3,990 employed Electricians (SOC 47-2111) in the Pittsburgh, PA Metropolitan Statistical Area as of May 2023, representing a density of approximately 3.72 electricians per 1,000 jobs in the metro area.

Residential permitting in the Pittsburgh metro area experienced elevated levels in 2022 and 2023 (averaging 3,975 rental units permitted annually), followed by a pullback. During the 12 months ending April 2024, approximately 3,225 rental units were permitted, a 19% decline from the 3,975 units permitted during the prior 12-month period.

Portland, OR

According to the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics, the Portland-Vancouver-Hillsboro, OR-WA MSA employed an estimated 6,770 electricians (SOC 47-2111) as of May 2023, representing a density of 5.61 electricians per 1,000 jobs in the metro area.

According to HUD PD&R regional housing data, single-family residential building permitting in the Oregon portion of the Portland-Vancouver-Hillsboro metro area stabilized with a 5% year-over-year increase in Q1 2025 (1,669 units permitted compared to 1,660 in Q1 2024), following a broader regional slowdown in 2023 when total authorized residential units stood at 10,891.

Providence, RI

According to May 2023 BLS data, the Providence-Warwick, RI-MA Metropolitan Statistical Area employed approximately 2,350 electricians (SOC 47-2111), with a location quotient of 1.03 relative to national occupational concentration.

Residential permitting activity in the Providence-Warwick, RI-MA MSA remains constrained relative to national rates, authorizing approximately 3.6 housing units per 1,000 existing homes in 2024, with multi-family structures accounting for 48.9% of newly authorized units.

Raleigh, NC

According to the U.S. Bureau of Labor Statistics, the Raleigh-Cary, NC Metropolitan Statistical Area employed approximately 3,790 electricians (SOC Code 47-2111) as of May 2024.

Residential building permit activity in the Raleigh-Cary MSA has accelerated, reaching 18,206 residential units permitted over a trailing 12-month period as of early 2026 (a 15.5% year-over-year increase), placing the metro at 12.81 permits per 1,000 residents, one of the highest per-capita build pipelines in the country.

Richmond, VA

According to the Bureau of Labor Statistics, the Richmond, VA Metropolitan Statistical Area employed 3,430 electricians (SOC 47-2111) as of May 2023, representing a location quotient of 1.13 and an occupational density of 5.303 electricians per 1,000 jobs.

Residential construction permitting in the Richmond metro area trended downward in 2023 and 2024 following nationwide building slowdowns, with projected housing unit authorizations moderating to roughly 58 units permitted per 10,000 residents in 2024.

Riverside-San Bernardino, CA

As of May 2023, the Riverside-San Bernardino-Ontario, CA metropolitan statistical area employed 8,130 electricians (SOC 47-2111), with an average hourly wage of $36.71 and an annual mean wage of $76,350.

In 2022, the Riverside-San Bernardino-Ontario MSA authorized 16,320 new residential building permits, representing a 4.6% increase from 2021 and total authorized residential permit valuation of $3.9 billion.

Sacramento, CA

According to the BLS May 2023 Occupational Employment and Wage Statistics, the Sacramento-Roseville-Arden-Arcade, CA MSA employed approximately 5,550 electricians (SOC 47-2111), representing a concentration of 5.29 electricians per 1,000 total jobs in the metropolitan area (location quotient of 1.13).

According to the U.S. Census Bureau Building Permits Survey, new residential housing unit authorizations in the Sacramento-Roseville-Folsom, CA MSA reached 10,042 units over the 12-month trailing period ending May 2026, up 14% year-over-year for the month to 1,094 units. Multifamily unit authorizations held steady near 1,883 units annually.

Salt Lake City, UT

According to May 2023 BLS OEWS data, the Salt Lake City, UT Metropolitan Statistical Area employed 5,520 electricians (SOC 47-2111) with a location quotient of 1.46, indicating a significantly higher concentration of electrical trade workers relative to the national average.

After peaking at record high levels in 2021 (over 39,000 authorized units statewide), residential building permit volume in Utah and the Salt Lake City metro area declined roughly 35% through 2023 (down to 25,361 units statewide), continuing a moderated trend into 2024 driven by elevated interest rates and high construction costs.

San Antonio, TX

According to the Bureau of Labor Statistics May 2023 Occupational Employment and Wage Statistics (OEWS) survey, there were 5,670 electricians (SOC 47-2111) employed in the San Antonio-New Braunfels, TX metropolitan area, earning a mean hourly wage of $26.23 and an annual mean wage of $54,570.

Construction activity in the San Antonio metropolitan area remains high-volume, with 14,857 new residential units authorized in 2024 according to U.S. Census Bureau data, placing San Antonio 20th among major U.S. metropolitan areas and 4th in Texas for residential permit volume.

San Diego, CA

According to U.S. Census Bureau County Business Patterns (CBP) data compiled by the San Diego Association of Governments (SANDAG), there were 835 active electrical contractor establishments (NAICS 238210) in San Diego County. Additionally, U.S. Bureau of Labor Statistics OEWS data reported approximately 7,600 employed electricians in the San Diego-Carlsbad metro area.

Residential building permit volume in the San Diego metro area has trended upward in recent years. Local permitting offices authorized 4,422 new housing units in 2022, which grew to 5,765 units in 2023 (+30.4%) and expanded further to 6,615 units in 2024 (+14.7%).

San Francisco, CA

The San Francisco-Oakland-Hayward, CA Metropolitan Statistical Area employed 10,500 electricians in May 2023, representing a density of approximately 4.34 electricians per 1,000 jobs in the metro area (location quotient of 0.92).

New residential building permits in San Francisco showed a sharp downward trend from 2021 through 2024, dropping from 2,519 authorized housing units in 2021 to 2,044 in 2022, 1,136 in 2023, and 770 in 2024.

San Jose, CA

According to the U.S. Bureau of Labor Statistics, the San Jose-Sunnyvale-Santa Clara, CA MSA employed 5,110 electricians (SOC 47-2111) as of May 2023, representing a density of 4.47 electricians per 1,000 total jobs in the metropolitan area.

Residential building permit volume in the San Jose-Sunnyvale-Santa Clara MSA saw a significant decline of 68% between July 2020 and July 2025 (dropping from 1,949 total permitted units to 623 units), driven by a 74% reduction in multi-family housing authorizations.

Seattle, WA

As of May 2023, the Seattle-Tacoma-Bellevue, WA MSA employed approximately 9,710 electricians (SOC 47-2111), representing a density of 4.67 electricians per 1,000 jobs and a location quotient of 1.00 relative to the national average.

Residential building permit activity in the Seattle-Tacoma-Bellevue MSA experienced a downward trend following post-pandemic highs, declining 12.8% in 2022 to 26,820 authorized units and continuing to cool in 2023 with 17,920 housing units permitted.

St. Louis, MO

As of May 2023, the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey reported 6,110 employed Electricians (SOC 47-2111) in the St. Louis, MO-IL metropolitan statistical area, representing an employment density of approximately 4.61 electricians per 1,000 jobs.

According to U.S. Census Bureau Building Permits Survey data, residential building permit issuance in the St. Louis, MO-IL metropolitan area trended downward from 5,834 total authorized housing units in 2024 to 5,417 total units in 2025 (including 3,530 single-family permits), reflecting a broader multi-year decline in regional residential construction authorizations.

Tampa, FL

According to the U.S. Bureau of Labor Statistics, the Tampa-St. Petersburg-Clearwater, FL MSA employed 7,630 electricians (SOC 47-2111) in May 2023, representing an employment concentration of 5.399 per 1,000 jobs and a location quotient of 1.15.

Single-family building permits in the Tampa MSA peaked in 2021 at 19,305 units before adjusting downward in 2022 to 15,678 units. Across the broader 8-county Tampa Bay region, total residential permitted units reached 55,085 in 2023, representing a 27% increase compared to 2019 levels.

Virginia Beach, VA

According to the U.S. Bureau of Labor Statistics (BLS) May 2024 Occupational Employment and Wage Statistics (OEWS), the Virginia Beach-Chesapeake-Norfolk, VA-NC metropolitan statistical area employs approximately 6,260 electricians (SOC 47-2111), with an hourly mean wage of $29.26 and an annual mean wage of $60,850.

According to U.S. Census Bureau Building Permits Survey data (retrieved via FRED, St. Louis Fed) and analysis from Old Dominion University's Dragas Center for Economic Analysis and Policy, total residential building permits authorized in the Virginia Beach-Norfolk-Newport News MSA experienced a mild pullback following post-2020 recovery peaks, with single-family building permit volume stabilizing in the range of roughly 3,500 to 4,500 units annually.

Washington DC, DC

According to the U.S. Bureau of Labor Statistics, the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area employed 14,850 electricians (SOC 47-2111), representing a density of 4.80 electricians per 1,000 total jobs in the metropolitan area.

In 2023, the Washington-Arlington-Alexandria metro authorized 23,493 total housing units according to the U.S. Census Bureau. Recent data through 2024 reflects a cooling trend in overall residential permitting, led by a 35.0% decline in multi-family unit authorizations (down to 9,680 units) despite a modest 3.3% increase in single-family permit approvals.

Building stock (demand base)

Age can inform trade-specific replacement mechanisms, but this cross-sectional file does not measure replacement speed or prove a tailwind across trades. Public state and county tax-assessor and property records (aggregated). Aggregate-only; no individual property or owner identified.

Construction eraBuildingsShare
pre-19601,675,48118.4%
1960-791,224,84813.5%
1980-991,367,31215.1%
2000-09756,8108.3%
2010+477,4515.3%
unknown3,582,98539.4%

Reputation & professionalization

Public business-review listings (aggregated April 2026). Aggregate only; no individual business identified.

Businesses analyzed12,534
Average rating4.19
Rating (p25 / median / p75)3.7 / 4.6 / 5
Reviews (median / p90)6 / 39
Claimed listings74.5%
Marked closed3.8%

Firmographics

Aggregated public business firmographic records (multi-source SMB dataset). Revenue/employee/age/employer-rating distributions per trade. Aggregate only; no individual company identified.

Companies analyzed982
Revenue (p25 / median / p75 / p90)$6.2M / $10.3M / $25.4M / $52.3M
Employees (p25 / median / p75)35 / 59 / 103
Median founding year2007
Avg employer rating3.84

Level CFO benchmarks & public-company reads

Level · https://creativecommons.org/licenses/by/4.0/ (free to cite with attribution to Level, levelcfo.com)

MetricValueDetailTier
Public electrical field-contracting gross margin~20%IES Holdings (IESC) Commercial & Industrial segment 20.3% FY2025. The consolidated 25.5% is higher only because it blends in switchgear/power-equipment manufacturing (34.4% gross), which is not field electrical work. A
Electrician median wage (SOC 47-2111)$62,350/yrMedian hourly $29.98; 10th pct $39,430, 90th $106,030. One of the largest construction trades by headcount. A
Diversified MEP operating margin (EMCOR)operating ~10%EMCOR's consolidated operating margin ~10.1%, FY2025 (EMCOR is a large diversified mechanical and electrical contractor). A
All-contractor net profit before tax6.3% (top quartile ~11.9%)The reality-check on what a healthy contractor nets. B
Job-level gross margin spread, all trades44.3% median, 28.4% bottom quartileMeasured across 1,747,089 completed jobs, all trades pooled rather than electrical-specific. The spread inside a single company is usually wider than the gap between trades, which is why a blended trade average tells you less than your own job distribution. B

These operating benchmarks come from Level CFO's contractor analysis. For the full finance-side breakdown, see electrical contractor profit margins.

Historical public-company reference

Snapshot dated 2026-07-23. These large scaled operators provide historical context, not live quotes, current valuation comparisons, or a benchmark for a typical private contractor.

Company1y returnGross marginEV/EBITDAMarket cap
Atkore Inc. (ATKR)25.4%20.87%10.33$2.48B
Dycom Industries, Inc. (DY)72%20.5%18.58$12.88B
EMCOR Group, Inc. (EME)21.8%19.29%17.67$33.06B
Fastenal Company (FAST)-8.7%44.7%26.83$52.48B
W.W. Grainger, Inc. (GWW)33.6%39.15%22.06$64.78B
Hubbell Incorporated (HUBB)10.6%35.68%19.12$25.82B
IES Holdings, Inc. (IESC)93%26.08%25.13$12.21B
Limbach Holdings, Inc. (LMB)-34.2%25.1%14.76$0.88B
MYR Group Inc. (MYRG)118.4%12.06%23.69$6.37B
nVent Electric plc (NVT)75.3%37.01%28.74$25.05B
Powell Industries, Inc. (POWL)171.3%30.1%36.06$8.9B
Primoris Services Corporation (PRIM)-24.5%10.38%11.54$4.91B
Quanta Services, Inc. (PWR)70.2%15.1%38.31$95.92B
WESCO International, Inc. (WCC)50.4%21.19%14.43$15.97B

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