City Electric Supply | Market Size
Revenue for the US electrical wholesale market for 2017 was reported to be $173 billion. For 2016 the officially reported number was $160 billion. The annual growth rate for this industry between 2012 and 2017 was recorded to be 3.2%. Details are included below.
In 2017, the revenue for the US electrical wholesale market was reported to be $173 billion. That was a growth over the 2016 revenue, which was reported to be $160 billion. The annual growth rate for this industry between 2012 and 2017 is recorded to be 3.2%.
FINDINGS SUPPORTING THE JUMP IN GROWTH FOR 2017
The US electrical wholesale growth rate will change along with national rates of construction. Since the great rescission construction spending has been on the rise, but public construction spending growth has been flat and commercial construction spending has not risen as fast as in the years previous to the great recession. In 2016 non-residential construction spending plateaued and has picked up halfway through 2017.
The rate of growth in electrical distributor sales from 1967-2017 is reported to be 6%. The same growth rate for 2008-2017 is 1.5%. Projected growth in electrical distributor total sales for the years 2017-2021 is estimated to be 3.9%. For the year of 2016 growth of electrical industry total sales outlook dropped into negative territory. For 2017 these numbers rose back above 4% for total sales.
The industry experienced a lull in 2016. This fact may also be derived from the shared price share chart for WESCO International (WCC). The company experienced a 60% drop in stock price from January 2014 to January 2016. The bulk of it occurring from May 2015 to January 2016. Since then the price has nearly doubled.
Taking all of these factors into consideration, it is understandable why IBIS World, a private market research company, produced such a number for the 2017 electrical wholesale market revenue.
With annual revenue of the US electrical wholesale market showing steady growth from $160 billion in 2016 to $173 billion in 2017 and a 3.2% growth rate for this industry from 2012 - 2017, it is evident that the industry is experiencing a period of prolonged growth. The annual projected growth rate from 2017-2021 is expected to be 3.9%, showing that this growth will likely continue.