The industry’s largest metros enjoyed solid sales growth in 2021, with a +8.3% average year-over-year estimated sales growth rate for the nation’s 300-plus Metropolitan Statistical Areas (MSAs). On a quarterly basis, the total estimated electrical sales potential for these MSAs increased +3% from Q3 2021 to Q4 2021, based on Electrical Marketing and Electrical Wholesaling data.
The Boston-Cambridge-Nashua MA-NH MSA added more sales potential over the past year than any other large metro, with a YOY increase of $113.9 billion sales (+6%) to $1.99 billion. Its electrical contractor and industrial segments – which typically account for 75% of all sales through electrical distributors both grew at close to a +6% annual pace. The market has enjoyed a surge in downtown office and mixed-use construction over the past few years. Other market areas with YOY increases in estimated electrical sales potential of at least $70 million were Minneapolis-St. Paul-Bloomington, MN; Sacramento-Roseville-Arden-Arcade, CA; Los Angeles-Long Beach-Anaheim, CA; Seattle-Bellevue-Everett, WA; and Miami-Fort Lauderdale-West Palm Beach, FL.
Any analysis of the nation’s largest local markets for electrical products shows that total electrical sales potential is consolidated into comparatively few market areas. Of the roughly $119 billion in estimated 2021 sales through electrical distributors, the 50 largest MSAs have a 59% share, and the 100 largest markets account for an estimated 73% of all sales potential.
Electrical Marketing calculates these estimates with 4Q 2021 employment data from the U.S. Bureau of Labor Statistics and EW’s 2021 sales-per-employee multipliers of $73,268 per electrical contractor employee and $2,006 per industrial employee.
Click here to download data for more than 300 MSAs and all 50 states
