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Electricians in Canada - Market Research Report (2014-2029)

Matthew Pigott Matthew Pigott New York, United States Last Updated: June 2024 NAICS 23821CA

Revenue

$28.2bn

2024

$28.2bn

Past 5-Year Growth

Profit

$X.Xbn

Employees

133k

Businesses

27,089

Wages

$XX.Xbn

Electricians in Canada industry analysis

Having seen moderate growth prior to the COVID-19 pandemic, the electrician industry in Canada saw strong revenue growth in 2020 as a result of falling commodity prices and low interest rates, which spurred investment into residential construction. With demand being dispersed among many downstream construction markets, industry revenue is expected to have increased at a CAGR of 0.9% to $28.2 billion through the end of 2024, including an expected growth of 2.0% in 2024 alone as interest rates are expected to begin to fall as consumer confidence rises. Volatile costs have drove down average industry profit over the last five years.

Trends and Insights

  • Residential construction has driven growth, particularly in 2020. Lowering interest rates and people spending more time at home increased demand.
  • Most electrical work is done on new buildings. One-quarter of electrical work involves laying wires for other systems, including fire suppression, HVAC and traffic signaling.
  • Ontario contains a large share of establishments, the largest share of any province. The province contains the largest percentage of the Canadian population and has several large cities including Toronto and Ottawa.
  • The electrical contracting industry has a low level of concentration. Businesses tend to be small and are spread across geographies and types of work.
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Everything you need in one report

  • Reliable market estimates from 2014-2029
  • Competitive analysis, industry segmentation, financial benchmarks
  • Powerful SWOT, Porter’s Five Forces and risk management frameworks
  • Online membership platform with PDF, Word, Excel and PPT exports

Industry Overview

Market size and recent performance (2014-2029)

Industry revenue has grown at a CAGR of 0.9 % over the past five years, to reach an estimated $28.2bn in 2024.

Trends and Insights

New housing kept the lights burning brightly

  • A surge in demand from residential construction drove significant growth for Canadian electricians in 2020; interest rates and commodity costs fell just as people were forced to spend more time at home than ever.
  • Additional trends and insights available with purchase
Electricians in Canada
Revenue (2014-2029)
IBISWorld Logo Source: IBISWorld

Industry outlook (2024-2029)

Market size is projected to grow over the next five years.

Trends and Insights

Falling interest rates should offer some relief

  • As interest rates are eventually lowered in the coming years, demand from residential construction for electricians will strengthen. Potential home buyers who put off buying will reenter the market. Still, rates are not expected to reach pandemic lows.

Biggest companies in the Electricians in Canada

Company
Market Share (%)
2024
Revenue ($m)
2024
Profit ($m)
2024
Profit Margin (%)
2024
Quanta Services
360.4
21.5
6.0
Chemco Electrical Contractors
156.1
9.8
6.3
MMR Canada
59.1
N/A
N/A

To view the market share and analysis for all 4 top companies in this industry, view purchase options.

Products & Services Segmentation

Electricians in Canada
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Electric power and systems installation and servicing, Telecommunications installation and servicing and Fire and security system installation and servicing. Electric power and systems installation and servicing is the largest segment of the Electricians in Canada.

Trends and Insights

Electricians continue to wire the world

  • The backbone of the Electricians industry, laying and testing wires designed to carry electrical power inside buildings, generates a majority of electrician's revenue in 2024.
  • More insights available in the full report

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Competitors

  • Heating & Air-Conditioning Contractors in Canada

Complementors

  • Homebuilders in Canada
  • Transmission Line Construction in Canada
  • Consumer Electronics Stores in Canada

International industries

  • Electricians in the US
  • Electrical Services in Australia
  • Electrical Services in New Zealand
  • Electricians in the UK
  • Electricians in Ireland

View all industries in Canada

Table of Contents

About this industry

Industry definition

The Electricians industry in Canada performs electrical work at the site (e.g. installing wiring), services electrical equipment at the site and may also perform the combined activity of selling and installing electrical equipment. The electrical work performed includes new work, additions, alterations, maintenance and repairs. Contractors who primarily work on distribution and power line projects are excluded from the industry.

What's included in this industry?

Electric light or power installation Electric wiring installation on construction projectsRepair or maintenance of electrical wiring, except of electricity transmission or distribution linesDomestic exhaust fans installationClosed-circuit video surveillance systems installationCommunication wiring and cabling installationRepairs and maintenance of communication and electrical equipment

Companies

Quanta ServicesChemco Electrical ContractorsMMR Canada

Purchase this report to view all 4 major companies in this industry.

Related Terms

LOW-VOLTAGEDATA CABLINGCLIMATE CONTROL

Industry Code

NAICS 2007

NAICS 238210 - Electricians in Canada

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

Residential construction has driven growth, particularly in 2020. Lowering interest rates and people spending more time at home increased demand.

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2014-2023) and forecast (2024-2029)
  • Employees, including historical (2014-2023) and forecast (2024-2029)
  • Businesses, including historical (2014-2023) and forecast (2024-2029)
  • Profit, including historical (2014-2024)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Most electrical work is done on new buildings. One-quarter of electrical work involves laying wires for other systems, including fire suppression, HVAC and traffic signaling.

In this chapter

  • Products & Services
  • Major Markets

Key metrics

  • Largest market segment and value in 2024
  • Product innovation level

Charts

  • Products & services segmentation in 2024
  • Major market segmentation in 2024

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

Ontario contains a large share of establishments, the largest share of any province. The province contains the largest percentage of the Canadian population and has several l...

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each province
  • Share of population compared to establishments in each region in 2024

Tables

  • Number and share of establishments in each province in 2024
  • Number and share of revenue each province accounts for in 2024
  • Number and share of wages each province accounts for in 2024
  • Number and share of employees in each province in 2024

Detailed analysis

  • Geographic spread of the industry across North America, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

The electrical contracting industry has a low level of concentration. Businesses tend to be small and are spread across geographies and types of work.

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2019-2024
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

The Electricians industry in Canada has no major players expected to account for over 5.0% of industry revenue. Industry concentration is low, with most players operating on ...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2020 through 2024
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2024
  • Overview of Quanta Services's performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of Chemco Electrical Contractors's performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of MMR Canada's performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of revenue, market share and profit margin trend for one additional company

Detailed analysis

  • Description and key data for Quanta Services, and factors influencing its performance in the industry
  • Description and key data for Chemco Electrical Contractors, and factors influencing its performance in the industry
  • Description and key data for MMR Canada, and factors influencing its performance in the industry
  • Description, key data and performance trends for one additional company

External Environment

Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

Analyst insights

Electricians must complete an apprenticeship and a written exam before operating. Each province or territory is responsible for setting construction work requirements. A cont...

In this chapter

  • External Drivers
  • Regulation & Policy
  • Assistance

Key metrics

  • Regulation & policy level and trend
  • Assistance level and trend

Charts

  • Regulation & Policy historical data and forecast (2014-2029) 
  • Assistance historical data and forecast (2014-2029) 

Detailed analysis

  • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
  • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
  • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

Financial Benchmarks

View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

Analyst insights

Electricians perform highly skilled labour. Before working they must be trained and licensed, keeping wage costs high. Businesses have faced perennial labour shortages.

In this chapter

  • Cost Structure
  • Financial Ratios
  • Key Ratios

Key metrics

  • Profit margin, and how it compares to the sector-wide margin
  • Average wages, and how it compares to the sector-wide average wage
  • Largest cost component as a percentage of revenue
  • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

Charts

  • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
  • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
  • Investment vs. share of economy

Data tables

  • Liquidity Ratios (2017-2022)
  • Coverage Ratios (2017-2022)
  • Leverage Ratios  (2017-2022)
  • Operating Ratios (2017-2022)
  • Assets (2017-2022)
  • Liabilities (2017-2022)
  • Cash Flow & Debt Service Ratios (2014-2029)
  • Revenue per Employee (2014-2029)
  • Revenue per Enterprise (2014-2029)
  • Employees per Establishment (2014-2029)
  • Employees per Enterprise (2014-2029)
  • Average Wage (2014-2029)
  • Wages/Revenue (2014-2029)
  • Establishments per Enterprise (2014-2029)
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)

Detailed analysis

  • Trends in the cost component for industry operators and their impact on industry costs and profitability 

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

How are IBISWorld reports created?

IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

What data sources do IBISWorld analysts use?

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

Key data sources in Canada include:

  • Statistics Canada
  • Industry Canada
  • Canadian Business Patterns

Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

These sources include:

  • Industry and trade associations
  • Industry federations or regulators
  • Major industry players annual or quarterly filings

Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

How does IBISWorld forecast its data?

IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

Learn more about our methodology and data sourcing on the Help Center.

Frequently Asked Questions

Unlock comprehensive answers and precise data upon purchase. View purchase options.

What is the market size of the Electricians industry in Canada in 2024?

The market size of the Electricians industry in Canada is $28.2bn in 2024.

How many businesses are there in the Electricians in Canada industry in 2024?

There are 27,089 businesses in the Electricians industry in Canada, which has grown at a CAGR of 0.8 % between 2019 and 2024.

Has the Electricians industry in Canada grown or declined over the past 5 years?

The market size of the Electricians industry in Canada has been growing at a CAGR of 0.9 % between 2019 and 2024.

What is the forecast growth of the Electricians industry in Canada over the next 5 years?

Over the next five years, the Electricians industry in Canada is expected to grow.

What are the biggest companies in the Electricians market in Canada?

The biggest companies operating in the Electricians market in Canada are Quanta Services, Chemco Electrical Contractors and MMR Canada

What does the Electricians in Canada include?

Electric light or power installation and Electric wiring installation on construction projects are part of the Electricians industry.

Which companies have the highest market share in the Electricians in Canada?

The company holding the most market share in Canada is Quanta Services.

How competitive is the Electricians industry in Canada?

The level of competition is high and steady in the Electricians industry in Canada.