Largest electrical contractors in the U.S. based on revenue 2023

The revenue of the electrical activities of Quanta Services in 2023 was over three times the revenue size of the next-largest company. That second company in the ranking, Colorado's MYR Group, had a revenue of 3.6 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 one of the largest companies in the sector and it has kept growing its market size in the last couple of years. In 2023, the annual revenue of Quanta Services had one of its largest increases, reaching a revenue of over 20.88 billion U.S. dollars. That was the total revenue of the company, while the figure shown in the ranking shows the revenue generated by Quanta just through its electrical revenue. During the past years, 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 2023 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. 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. In 2024, the company acquired Cupertino Electric, another of the leaders in the electrical contracting sector. Mergers and acquisitions of this kind, along with its revenue growth, have helped increase the number of employees at Quanta Services.