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PHYSICAL SERVICES
Electrical
Leader: Quanta Services — 3.9% S1 · 6.2% CR3
S1
leader
CR3
top 3 combined
HHI
Unconcentrated
MARKET SIZE
US
How this is calculated
FORMULA
S1 = Quanta Services revenue / total revenue = 3.9%
CR3 = Quanta Services + EMCOR + MYR Group = 6.2%
HHI = Σ(share²) = 18 (Unconcentrated (HHI < 1,500))
DENOMINATOR
Revenue — $347.5B (US)
US electrical contractor services revenue.
Size from: IBISWorld + ENR Top 600 Specialty Contractors
TOP 3 PLAYERS
#1Quanta Services3.9%
#2EMCOR1.3%
#3MYR Group1.0%
METHODOLOGY NOTE
Quanta Services Electric Power segment $11.17B FY24 (10-K, excludes Renewables and Underground), EMCOR Electrical Construction segment ~$4.6B (10-K), MYR Group $3.36B FY24 (10-K) divided by $230B US electrical contractor market (IBISWorld NAICS 238210 + ENR Top 600). Reordered Nov 2025: Quanta is materially the largest pure-play US electrical contractor by 10-K segment revenue; EMCOR is #2 (prior version had EMCOR as #1, which understated Quanta's scale). [Refreshed Aug 2026: Denominator restated to $347.5B; numerators grew but CR3 decline is denominator restatement, not deconsolidation. Source: IBISWorld Electricians 2026 ($347.5B); Quanta FY2025 ($28.5B, +20%)]
Year: 2026
Geo: US
Firms: 90,000+
Labor economics
REV / EMPLOYEE (leader)
$0.3M
industry avg $0.2M
SG&A % (leader)
8%
of revenue
Quanta Services FY2024 SG&A 8.4% on $23.7B; large project mgmt has AI leverage
Related markets
Source Quality Hierarchy
Every market has a primary source plus 1–3 validation sources. Revenue numerators come from SEC 10-K filings; denominators validated against the Economic Census where available.
TIER 1Authoritative anchorsGovernment data + SEC filings
US Economic Census (data.census.gov) · SEC EDGAR / Company 10-Ks · BEA Industry Value-Added (FRED) · BLS QCEW · USGS Mineral Commodity Summaries · EIA Refinery Capacity Report · FDA device listings
TIER 2Leading commercial trackersIndustry-standard paid trackers
IDC Semiannual Software Tracker · Gartner Market Share & Magic Quadrant · IBISWorld NAICS reports · StatCounter Global Stats · eMarketer / Insider Intelligence · Synergy Research Group
TIER 3Category specialistsBest-in-class niche authorities
SIPRI (aerospace & defense) · IQVIA (pharma) · TrendForce (semiconductors) · CIMdata (CAD/PLM) · Nilson Report (payments) · Am Law 100 (legal) · ENR Top 500 (A&E) · AM Best (insurance) · SIA (staffing) · Ad Age (agencies) · Barron's / Cerulli (wealth) · Evaluate MedTech · Nielsen Gauge (streaming) · Gridwise (ride-hail) · Bloomberg Second Measure (delivery) · RC Top 100 (roofing) · SDM Top 100 (fire/safety) · Big 4 annual reports · ALM Intelligence (consulting)
Data vintage: Q2 2025 research compilation. Labels updated 2026-Q2. Tier 1 sources refreshed from FY2025 SEC filings where available. For full methodology see the Methodology page.