Electrical Service Market SWOT Analysis by 2031
The Electrical Services sector includes the installation, servicing, repair and maintenance of electrical and electronic equipment for industrial, commercial and domestic purposes. Electrical Services workers are employed across a wide variety of industries including Construction, Mining and Civil Infrastructure, ICT and Communication, and Utilities.
MARKET DYNAMICS
Electrical construction across the electrical services market is estimated to exceed USD 120 billion by 2031. Rising capital investments across industrial and utility sector along with growing demand for new T&D towers and cable construction will drive the industry scenario. Growing integration of renewable powered sources across the grid will further sway the demand for advanced and upgraded electrical equipment.
MARKET SCOPE
The ˜Global Electrical Services Market' is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the electrical services market with detailed market segmentation by product, application. The global-market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading electrical services market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
1. By Product: On the basis of Products, the global Electrical Services market is segmented into Software Service, Manual Service.
2. By Application: On the basis of Applications market is segmented into Domestic, Commercial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The electrical services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the electrical services market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the electrical services market in these regions.
IMPACT OF COVID 19
COVID-19 has had an impact on the sector, particularly by leading to a reduction of demand, financial stress, and disruptions to the power supply chain. Demand represents the amount of electrical power that has to be delivered at any given time to meet customer needs. Decreased industrial and commercial activity is a major contributor to the fall in demand. Railways and airports are major consumers and lockdowns have had a significant impact on demand. The decline in demand has resulted in a decrease in overall revenue for utilities.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The electrical services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the electrical services market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the electrical services market in these regions.
IMPACT OF COVID 19
COVID-19 has had an impact on the sector, particularly by leading to a reduction of demand, financial stress, and disruptions to the power supply chain. Demand represents the amount of electrical power that has to be delivered at any given time to meet customer needs. Decreased industrial and commercial activity is a major contributor to the fall in demand. Railways and airports are major consumers and lockdowns have had a significant impact on demand. The decline in demand has resulted in a decrease in overall revenue for utilities.
MARKET PLAYERS
The report covers vital developments in the electrical services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the electrical services market are anticipated to have lucrative growth opportunities in the future with the rising demand for electrical services in the global market. Below mentioned is the list of a few companies engaged in the electrical services market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the electrical services market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Able Electrical Services
- Aspull Electrical Services
- CIBSE
- District Electrical Services
- Greenway Electrical Services
- Housejoy
- ITI Electrical Services
- LKT Electrical Services
- Texas Electrical Services
- Wyer Electrical Services
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Electrical Service Market - By Product
1.3.2Electrical Service Market - By Application
1.3.3Electrical Service Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.ELECTRICAL SERVICE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.EXPERT OPINIONS
5.ELECTRICAL SERVICE MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.ELECTRICAL SERVICE MARKET - GLOBAL MARKET ANALYSIS
6.1.ELECTRICAL SERVICE - GLOBAL MARKET OVERVIEW
6.2.ELECTRICAL SERVICE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.ELECTRICAL SERVICE MARKET - REVENUE AND FORECASTS TO 2028 " PRODUCT
7.1.OVERVIEW
7.2.PRODUCT MARKET FORECASTS AND ANALYSIS
7.3.SOFTWARE SERVICE
7.3.1.Overview
7.3.2.Software Service Market Forecast and Analysis
7.4.MANUAL SERVICE.
7.4.1.Overview
7.4.2.Manual Service. Market Forecast and Analysis
8.ELECTRICAL SERVICE MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.DOMESTIC
8.3.1.Overview
8.3.2.Domestic Market Forecast and Analysis
8.4.COMMERCIAL.
8.4.1.Overview
8.4.2.Commercial. Market Forecast and Analysis
9.ELECTRICAL SERVICE MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Electrical Service Market Overview
9.1.2North America Electrical Service Market Forecasts and Analysis
9.1.3North America Electrical Service Market Forecasts and Analysis - By Product
9.1.4North America Electrical Service Market Forecasts and Analysis - By Application
9.1.5North America Electrical Service Market Forecasts and Analysis - By Countries
9.1.5.1United States Electrical Service Market
9.1.5.1.1United States Electrical Service Market by Product
9.1.5.1.2United States Electrical Service Market by Application
9.1.5.2Canada Electrical Service Market
9.1.5.2.1Canada Electrical Service Market by Product
9.1.5.2.2Canada Electrical Service Market by Application
9.1.5.3Mexico Electrical Service Market
9.1.5.3.1Mexico Electrical Service Market by Product
9.1.5.3.2Mexico Electrical Service Market by Application
9.2.EUROPE
9.2.1Europe Electrical Service Market Overview
9.2.2Europe Electrical Service Market Forecasts and Analysis
9.2.3Europe Electrical Service Market Forecasts and Analysis - By Product
9.2.4Europe Electrical Service Market Forecasts and Analysis - By Application
9.2.5Europe Electrical Service Market Forecasts and Analysis - By Countries
9.2.5.1Germany Electrical Service Market
9.2.5.1.1Germany Electrical Service Market by Product
9.2.5.1.2Germany Electrical Service Market by Application
9.2.5.2France Electrical Service Market
9.2.5.2.1France Electrical Service Market by Product
9.2.5.2.2France Electrical Service Market by Application
9.2.5.3Italy Electrical Service Market
9.2.5.3.1Italy Electrical Service Market by Product
9.2.5.3.2Italy Electrical Service Market by Application
9.2.5.4Spain Electrical Service Market
9.2.5.4.1Spain Electrical Service Market by Product
9.2.5.4.2Spain Electrical Service Market by Application
9.2.5.5United Kingdom Electrical Service Market
9.2.5.5.1United Kingdom Electrical Service Market by Product
9.2.5.5.2United Kingdom Electrical Service Market by Application
9.2.5.6Russia Electrical Service Market
9.2.5.6.1Russia Electrical Service Market by Product
9.2.5.6.2Russia Electrical Service Market by Application
9.2.5.7Rest of Europe Electrical Service Market
9.2.5.7.1Rest of Europe Electrical Service Market by Product
9.2.5.7.2Rest of Europe Electrical Service Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Electrical Service Market Overview
9.3.2Asia-Pacific Electrical Service Market Forecasts and Analysis
9.3.3Asia-Pacific Electrical Service Market Forecasts and Analysis - By Product
9.3.4Asia-Pacific Electrical Service Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Electrical Service Market Forecasts and Analysis - By Countries
9.3.5.1Australia Electrical Service Market
9.3.5.1.1Australia Electrical Service Market by Product
9.3.5.1.2Australia Electrical Service Market by Application
9.3.5.2China Electrical Service Market
9.3.5.2.1China Electrical Service Market by Product
9.3.5.2.2China Electrical Service Market by Application
9.3.5.3India Electrical Service Market
9.3.5.3.1India Electrical Service Market by Product
9.3.5.3.2India Electrical Service Market by Application
9.3.5.4Japan Electrical Service Market
9.3.5.4.1Japan Electrical Service Market by Product
9.3.5.4.2Japan Electrical Service Market by Application
9.3.5.5South Korea Electrical Service Market
9.3.5.5.1South Korea Electrical Service Market by Product
9.3.5.5.2South Korea Electrical Service Market by Application
9.3.5.6Rest of Asia-Pacific Electrical Service Market
9.3.5.6.1Rest of Asia-Pacific Electrical Service Market by Product
9.3.5.6.2Rest of Asia-Pacific Electrical Service Market by Application
9.3.5.7Rest of SouthEast Asia Electrical Service Market
9.3.5.7.1Rest of SouthEast Asia Electrical Service Market by Product
9.3.5.7.2Rest of SouthEast Asia Electrical Service Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Electrical Service Market Overview
9.4.2Middle East and Africa Electrical Service Market Forecasts and Analysis
9.4.3Middle East and Africa Electrical Service Market Forecasts and Analysis - By Product
9.4.4Middle East and Africa Electrical Service Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Electrical Service Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Electrical Service Market
9.4.5.1.1South Africa Electrical Service Market by Product
9.4.5.1.2South Africa Electrical Service Market by Application
9.4.5.2Saudi Arabia Electrical Service Market
9.4.5.2.1Saudi Arabia Electrical Service Market by Product
9.4.5.2.2Saudi Arabia Electrical Service Market by Application
9.4.5.3U.A.E Electrical Service Market
9.4.5.3.1U.A.E Electrical Service Market by Product
9.4.5.3.2U.A.E Electrical Service Market by Application
9.4.5.4Rest of Middle East and Africa Electrical Service Market
9.4.5.4.1Rest of Middle East and Africa Electrical Service Market by Product
9.4.5.4.2Rest of Middle East and Africa Electrical Service Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Electrical Service Market Overview
9.5.2South and Central America Electrical Service Market Forecasts and Analysis
9.5.3South and Central America Electrical Service Market Forecasts and Analysis - By Product
9.5.4South and Central America Electrical Service Market Forecasts and Analysis - By Application
9.5.5South and Central America Electrical Service Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Electrical Service Market
9.5.5.1.1Brazil Electrical Service Market by Product
9.5.5.1.2Brazil Electrical Service Market by Application
9.5.5.2Argentina Electrical Service Market
9.5.5.2.1Argentina Electrical Service Market by Product
9.5.5.2.2Argentina Electrical Service Market by Application
9.5.5.3Rest of South and Central America Electrical Service Market
9.5.5.3.1Rest of South and Central America Electrical Service Market by Product
9.5.5.3.2Rest of South and Central America Electrical Service Market by Application
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.ELECTRICAL SERVICE MARKET, KEY COMPANY PROFILES
11.1.HOUSEJOY
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.TEXAS ELECTRICAL SERVICES
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.CIBSE
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.GREENWAY ELECTRICAL SERVICES
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.LKT ELECTRICAL SERVICES
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.ABLE ELECTRICAL SERVICES
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.WYER ELECTRICAL SERVICES
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.ITI ELECTRICAL SERVICES
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.DISTRICT ELECTRICAL SERVICES
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.ASPULL ELECTRICAL SERVICES
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1.Housejoy
2.Texas Electrical Services
3.CIBSE
4.Greenway Electrical Services
5.LKT Electrical Services
6.Able Electrical Services
7.Wyer Electrical Services
8.ITI Electrical Services
9.District Electrical Services
10.Aspull Electrical Services
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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