Selbyville, Delaware, March 24, 2021 (GLOBE NEWSWIRE) —
the US electrical services market the value is expected to exceed USD 170 billion by 2027 as shown in the latest study by Global Market Insights Inc. The ongoing network upgrade along with the installation of advanced electrical equipment on the T&D network will determine the scenario of the industry.
The U.S. utility-scale electrical services industry is expected to grow due to growing investment in transmission and distribution, followed by expansion of T&D infrastructure to incorporate natural gas and coal generation sources. renewable energy. State-based utilities are keen to make fundamental improvements to comply with developing transmission security compliance standards. Additionally, favorable government regulations for electrification and the integration of decentralized micro-grid networks in off-grid areas have boosted the demand for power infrastructure deployment.
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Increased R&D investment by major tier-one manufacturers to launch advanced electrical structures and equipment on the power grid will drive the business scenario. Growing demand for operation and maintenance of high voltage grid due to continuous grid outages and power outages will increase the industry scenario.
Some of the key findings of the U.S. Electrical Services Market report include:
- Government standards for the replacement and reconstruction of existing T&D infrastructure will fuel the industry landscape.
- Continuous technological advances to integrate robust power cables with low electrical, thermal and mechanical losses.
- Prominent players operating in the market include MYRGROUPINC, MMR Group, EMCOR Group, Quanta Services, and APi Group.
- The development and construction of microgrid network along with the growing demand for monitoring and modernization of power infrastructure will determine the market trends.
Browse key industry information spread over 150 pages with 13 market data tables and 35 report figures and graphs, “United States Electrical Services Market statistics by type of service (electrical construction, instrument and technical services, maintenance and repair), application (commercial, industrial, utility), industry analysis report, market outlook Countries, Growth Potential, Competitive Market Share and Forecast, 2021-2027in detail with the table of contents:
Rising CAPEX and OPEX for construction of transmission and distribution infrastructure along with growing demand for renewable energy sources will influence the industry scenario. According to the United States Central Bureau, in 2019, commercial construction spending across the country saw a 4% increase to $1.324 billion from 2018. Increase in public and private investment in construction activities , primarily in healthcare, hospitality and government/military. offices will complement the US electrical services market forecast.
During COVID-19, the operation and maintenance of power infrastructure was operational, followed by the state government which involved no ban on the construction of sustainable energy projects. In addition, new renewable energy projects and large-scale projects are operational and have not experienced any delays. Additionally, growing demand for refurbishment and replacement of aging electrical components, followed by increased investment in network modernization, will complement the business outlook.
Table of contents of this report @ https://www.gminsights.com/toc/detail/us-electrical-services-market
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.