Electrical Contractors And Other Wiring Installation Contractors Market Forecast 2023-2032: Market Size, Drivers, And Trends

November 05, 2023

The Electrical Contractors And Other Wiring Installation Contractors Global Market Report 2023, provides comprehensive information on the electrical contractors and other wiring installation contractors market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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The global electrical contractors and other wiring installation contractors market size is expected to grow from $1098.49 billion in 2022 to $1188.58 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electrical contractors and other wiring installation contractors market size is expected to reach $1585.98 billion in 2027 at a CAGR of 7.5%.

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The introduction of robotics and drones are a key trend gaining popularity in the electrical contractor and other wiring installation contractor market. Electrical contractors and other wiring installation contractors are adopting robotics, artificial intelligence, and drones for monitoring and surveillance of electric systems at electrical hazards zones. Drones are used as an innovative tool to make electrical work safe and minimize electrical errors. For instance, In January 2020, Skycraft, a Sweden-based infrastructure company, started using AI and drone technology for electricity power-line inspection for the detection of risk by gathering images. Power line inspection using drones provides a cost-effective and safe way of inspection. Skycraft provides smart infrastructure inspection by using unmanned airplanes by collecting images and 360 videos, this data is automatically collected and analyzed for detection of risk to the power lines.

The electrical contractors and other wiring installation contractors market is segmented:

1) By Material: Metal, Optic Fibre, Plastic

2) By Installation: Submarine, Underground, Overhead

3) By Voltage: High Voltage, Medium Voltage, Low Voltage

4) By End User: Telecommunication, Energy and Power, Electronics, Construction, Automotive

Asia-Pacific was the largest region in the electrical contractors and other wiring installation contractors market in 2022.

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