Largest electrical contractors in the U.S. based on revenue 2014-2022

The revenue of the electrical activities of Quanta Services in 2022 was significantly higher than in the previous years, and over three times the revenue size of the next-largest company. This second company, Colorado's MYR Group, had a revenue of almost three billion U.S. dollars. Those figures only refer to the revenue generated by the electrical segment of those companies, which means that the overall figures were higher.

Quanta Services: An industry leader

Quanta Services was the largest companies in the sector and it has kept growing its market size in the last couple of years. In 2022, the annual revenue of Quanta Services had one of its largest increases, reaching a revenue of over 17 billion U.S. dollars. Thus, the company from Texas has kept securing its position as a leading specialty contractor throughout the United States. The segment that made up the largest share of Quanta's revenue in 2022 was electric power infrastructure solutions.

The benefits of mergers and acquisitions

One of the ways Quanta Services continues to grow is through the acquisition of other companies. Not only does this increase the market share of the company, but it also provides a long-term solution to the forecasted impact of a labor shortage in the construction industry. In 2017, Quanta Services strengthened its pipeline and industrial services sector with the purchase of the Stronghold group of companies, welcoming the workforce of Stronghold in the process. Mergers and acquisitions of this kind, along with its revenue growth, have been correlated with an increase in the number of employees at Quanta Services.