Selbyville, Delaware, March 24, 2021 (GLOBE NEWSWIRE) –
the U.S. electrical services market the value is expected to exceed $ 170 billion by 2027, as shown in the latest study by Global Market Insights Inc. The ongoing modernization of the grid as well as the installation of advanced electrical equipment on the T&D grid will lead to the scenario of industry.
Scale of Utilities The US electric utilities industry is expected to expand due to increasing investment in transmission and distribution, followed by the expansion of T&D infrastructure to integrate natural gas and renewable generation sources. State-based utilities are prone to fundamental improvements to meet transmission security compliance standards. In addition, government regulations favorable to electrification and the integration of decentralized micro-grid networks in areas isolated from the grid have stimulated demand for the deployment of electrical infrastructure.
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Increased R&D investment by leading leading manufacturers to launch advanced electrical structures and equipment on the grid grid will determine the business scenario. The increasing demand for high voltage grid operation and maintenance due to continuous grid outages and power outages will increase the industry scenario.
Here are some of the key findings of the United States Electrical Services Market report:
- Government standards for the replacement and reconstruction of existing T&D infrastructure will fuel the industry landscape.
- Technological advances underway 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 a micro-grid network as well as the increasing demand for monitoring and modernization of the electrical infrastructure will drive the market trends.
Browse key industry insights spread over 150 pages with 13 market data tables and 35 report figures and charts, “U.S. Electrical Services Market Statistics by Service Type (Electrical Construction, Technical Instruments & Services, Maintenance & Repair), Application (Commercial, Industrial, Utility), Industry Analysis Report, Country Outlook, Growth Potential , competitive market share and forecast, 2021-2027Â»In detail with the table of contents:
Increasing capital and operating expenses for the construction of transmission and distribution infrastructure as well as increasing 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 increased 4% to $ 1.324 billion from 2018. Public and private investment in construction activities increased , mainly in the fields of health, hospitality and government / military. offices will complement the forecast for the US electrical services market.
During COVID-19, operations and maintenance of the electrical infrastructure were operational, followed by the state government implying no ban on construction of sustainable energy projects. In addition, new renewable energy projects and large-scale projects are operational and have not experienced any delays. In addition, growing demand for refurbishment and replacement of aging electrical components, followed by increasing investments in grid modernization, will complement the business outlook.
Summary of this report @ https://www.gminsights.com/toc/detail/us-electrical-services-market
Browse the associated report:
Industry Outlook by drive (AC, DC, Servo), power range (micro, low, medium, high), voltage (low, medium), technology (standard, regenerative), application (pump, centrifuges, conveyor, evaporators, mixers, grinders , Cutters, Fans, Others), End Use (Oil & Gas, Power Generation, Food Processing, Automotive, Mining & Metals, Pulp & Paper, Others), Industry Analysis Report, Regional Outlook, Potential Application, competitive market share and forecast, 2020 – 2026
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