New research commissioned by ELECTRI International focuses on using available metrics to analyze current market share trends and the factors that control their growth or decline. In his research, Hisham Said, Associate Professor of Construction Engineering and Management, Department of Civil Engineering, Santa Clara University, analyzed four main market share metrics for the union electrical contracting industry and offered descriptions of the background, calculation methodology, benefits, and limitations of each metric. The study examined the methodology, assumptions, and limitations of the current and previous market share metrics that have been applied to quantify the market share of union electrical construction.
The report, Data-Driven Analysis of the Factors Affecting the Union Inside Electrical Contractor Market Share presents the researcher’s algorithm developed to analyze the time series data available for the 2004 – 2017 period of NLMCC employment market share for each local union. The outcome of this algorithm is a classification of the market share trend for each local as either a positive or negative trend and entails four main classifications:
- Growth Trend (positive): The local union has gained market share either at a decreasing rate or increasing rate.
- Rebound Trend (positive): The local union has lost market share, but managed to rebound and gain the lost share.
- Up-down Trend (negative): The local union has gained some market share to a peak value and then started losing some or all of the gained share.
- Shrinking Trend (negative): The local union has lost market share either at a decreasing rate or increasing rate.