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 2028. 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 2018 to 2028 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