If you’re an electrical contractor, you may already be aware of the worldwide shortage of electrical parts. This shortage has led to an increase in the price of electrical components.
There are many causes of these shortages including labor shortages in manufacturing plants, rising costs of manufacturing materials, labor shortages in transportation and shipping delays. Reports show that these shortages are likely to continue into the near future.
Is your company likely to be affected by these electrical supply issues? Aside from electrical contractors, there are other businesses that are already seeing the impact and likely to continue to be affected. General contractors and construction companies are an obvious one. The shortage could also impact you if you’re a landlord or property investor – any electrical repairs or electrical installation that you have to carry out could cost more than you anticipated. The same applies if you’re an owner or manager of a commercial building – if you’ve been thinking of updating your office building’s electrics or repairing an electrical problem in your store, you may have to budget more for the cost.
Just what are some of the electrical components that are in short supply? Panelboards, switches, circuit breakers, switchgears, wires and cables are just some of the main parts that are becoming more scarce. The following infographic explains more about why there is a shortage of these parts, as well as the types of price increases and lead times you should prepare for in the next few coming months.
A breakdown of some of the current https://www.raiven.com/supply-chain-report-q2-2022