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Mountain Region Market Potential

Nov. 26, 2024
Here's the data for Arizona, Colorado, Montana, Nevada, Utah & Wyoming.

Most of the states in the Mountain Region had solid growth in their estimated electrical sales potential through Sept. 2024, with Idaho (+4%); Montana (+8%); Nevada (+10%): and Utah (+5%) turning in solid YOY growth numbers, according to Electrical Wholesaling’s sales estimates. Nevada’s growth was particularly strong, as it added approximately $160 million in sales potential based in large part on the +10% increase of the Las Vegas-Henderson-Paradise, NV, MSA, and the solid +6% growth in Reno, NV, MSA, the two market areas that account for the vast majority of the state’s electrical sales.


Utah also shows some very strong growth, both at the state level with +5.1% growth, and in all of its major markets, which grew at better than a +5% rate. The St. George, UT, MSA (+8.3%) grew the fastest, followed by the Provo-Orem, UT, MSA (+7.6%) and Logan, UT-ID, MSA (+6.7%).The Boise, ID, MSA was also a top local market in the region, with a +7% sales increase boosting its sales potential to $590 million, according to EW data.


The Phoenix-Mesa-Scottsdale, AZ, MSA, normally one of the nation’s fastest-growing markets, was soft through Sept. 2024, as its sales potential only increased +1% YOY. Colorado also turned in surprisingly sluggish sales numbers given its track record, with a statewide decline of -0.4% and declines in all of its major metropolitan areas, as you can see in the chart below.


The region had two construction projects valued at more than $1 billion in the news this year – the $11-billion 3.5GW Sun Zia Wind Farm with more than 900 turbines in New Mexico, and the $1-billion Green River Energy Center in Emery County, UT, that broke ground in May 2024.

 

 

 

 

 

 

About the Author

Jim Lucy | Editor-in-Chief

Jim Lucy, Editor-in-Chief, Electrical Wholesaling magazine and Electrical Marketing newsletter.

Over the past 40-plus years, hundreds of Jim’s articles have been published in Electrical Wholesaling and Electrical Marketing newsletter on topics such as the impact of new competitors on the electrical market’s channels of distribution, energy-efficient lighting and renewables, and local market economics. In addition to his published work, Jim regularly gives presentations on these topics to C-suite executives, industry groups and investment analysts.

He recently launched a new subscription-based data product for Electrical Marketing that offers electrical sales potential estimates and related market data for more than 300 metropolitan areas, and in 1999 he published his first book, “The Electrical Marketer’s Survival Guide” for electrical industry executives looking for an overview of key market trends.

While managing Electrical Wholesaling’s editorial operations, Jim and the publication’s staff won several Jesse H. Neal awards for editorial excellence, the highest honor in the business press, and numerous national and regional awards from the American Society of Business Press Editors. He has a master’s degree in Communications and a bachelor’s degree in Journalism from Glassboro State College, Glassboro, N.J. (now Rowan University).

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