The electrical power industry hit rock bottom in 2002, leading to lower-than-expected revenues for design firms nationwide. This downturn, coupled by the weak economy, has resulted in intense competition, plummeting price levels, and a buyer's market. Three years ago, electrical design firms had more work than they could handle, but today many markets have all but disappeared. To gain a better understanding of the challenging marketplace, EC&M surveyed the nation's largest electrical design firms for its inaugural Top 40 listing. These powerhouse firms identified the latest hot and cool markets, current trends in electrical design, and the challenges that lie ahead for the remainder of this year. In a tough economy, these firms are discovering ways to survive and even thrive amongst a tough field of competition.
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