2021 is said to be a promising year due to expected industry changes. Last year, suffice to say, has over-delivered the front as the HVAC industry has endured various changes. That is why today’s current market trends are generally fueled by regional and local data instead of the entire set of trends.
For operators and owners, they must follow and get updated on all the latest market trends. Do you, by any chance, know the list of HVAC trends your peers, coworkers, business partners, and industry insiders anticipate this year? Let’s discover the top 10 market trends in the industry where the majority of experts believe HVAC professionals and owners need to prepare this year.
1. The “Internet of Things” isn’t going away
Several years ago, IoT was a catchy-phrase that often refers to an expanding number of WI-FI-enabled home appliances – stereos, televisions, thermostats, refrigerators, etc. Nowadays, it is estimated that will be more than fourteen million commercial properties in the U.S use “smart technology” products and devices. The current estimated number is expected to rise.
So what does it exactly means for HVAC market trends? Does the shop offer the latest and best line for WI-FI enabled devices? Does it properly install these products in customer buildings? Do they know the right way of controlling it or demonstrate the value of automation to any clients and customers?
For HVAC business owners and technicians, these questions are the basis of finding out if their preferred shop is updated. If not, then it is wise enough to find other suppliers that best provide the latest deals!
2. The HVAC industry is getting bigger and bigger
Do you know what the most significant HVAC future trend is? It is Growth.
The ASHRAE and AHR Expo journal survey has found nearly eight-nine percent of respondents in the industry reported either “excellent” or “good” business year last 2019. Apparently, forty-percent of those respondents have been expected 5-10 percent growth in their business. There is another different level of percentage growth for the other areas. Hence, it is a slight declination from the previous year’s survey. However, it is still a bizarrely positive assessment of how HVAC businesses are doing today.
If your HVAC service shop assumes even more growth this 2021, ensure that you are operating with the best infrastructure and construction crew management to scale any fundamental and vital processes in your business like payroll and reporting, crew, etc. It would be best if you were more than responsive. Doing so will further incorporate new clients, new team members, and new sources of income.
Only a leading business software solution can deliver the agility to grow without losing a step.
3. A double meaning for “Going Green”
Today, more and more consumers have expressed a few concerns about the environmental impact of the services and products they avail. As a result, they are very much willing to pay more for the sustainability of these options since they are more environmentally friendly than in retrofits or new building projects.
A study found a rising number of consumers and clients ready to pay for more eco-friendly and more expensive products, including forty-seven percent of Baby Boobers and sixty percent of Millennials. Hence, your HVAC shop isn’t just losing out on making the environment friendlier, and it is also missing out on market shares and huge tickets associated with the HVAC market trend. One critical factor also includes not offering eco-friendly services and products to the consumers.
As 2021 rolls on, consider researching, gathering information, and possibly stocking products and services to minimize your client’s carbon footprint and energy consumption.
4. More people are working in the HVAC industry
The most recent employment percentage in the HVAC industry is record-breaking. Two years ago, 1.2 million people in the United States were employed by HVAC companies, more than six percent boast over 2017. The industry outlook has also predicted thirteen percent growth until 2018. It has an immediate impact on the overall health of the HVAC industry.
Have you seen any changes and growth at your shop? Make sure to notice some of your new competitors today in your service area. As you will observe, more money and people in the industry can be a double-edged sword. The HVAC trade has become bigger, and it only means fighting harder to compete.
5. Prioritizing recruitment for new HVAC techs
While the industry’s outlook for jobs has remained strong, the lack of interest when it comes to trades as a career option among youngsters continues to cause concerns. Regardless of the rising circumstances, other experts like ASHRAE Journal and AHR Expo predict HVAC jobs will grow fifty percent over 10 years, starting from 2016 until 2026.
Is your HVAC Company taking significant steps to look and foster new talents for the industry? Then, what makes your business a much better place for work compare to your competitors. Have you been adopting advanced technologies, upgraded processes, and construction project management trends to make onboarding easy for new talents? Make sure to make it engaging and exciting for individuals new to the HVAC industry.
As the trades continuously face foretold growth and staffing concerns, the questions cited beforehand are the type of question you must start asking and answering about your business, especially this 2021.
6. Personal touch is a must-have
It wasn’t just employee expectations that are consistently changing in the industry and market trends. Apparently, the expectations from consumers are changing drastically too.
A survey from the State of Global Customer Service has found that seventy-eight percent of younger consumers anticipate customer service reps to know their entire purchase history and direct contact information as soon as the communication started.
Is your HVAC business using the best construction management software and initiatives to deliver the most convenient experience for all of your clients? Are you even collecting job and customer data you can later leverage to target only relevant customer segments and customize marketing efforts? If you are looking to create a bigger splash in your servicing area this 2021, ask yourself this list of customer service questions.
7. The Relationship between Construction and HVAC
Once the HVAC system is being installed, regular maintenance is necessary. It then creates two distinctive sectors within the industry. Although the maintenance sectors can always thrive when there is only limited new construction, the HVAC industry sees a full drop. It affects everybody’s revenues. That is why the relationship between the HVAC industries and construction is so crucial.
- Commercial storage heater shipments increased by over twenty percent in the past five years for total shipments.
- Lodging construction projects with the need for HVAC unit installations saw an 11.3% increase.
- Commercial and office projects saw increases of 14.5% and 8.4%, respectively.
- Sewage disposal construction projects where HVAC components are necessary saw a continuous increase of 13.6%
8. Construction Scheduling Software continues to empower
Empowering your HVAC team is one of the right things you can always do for them. It only shows that you have trust in them and their capacity to do and manage work. Boosting productivity and decreasing downtime by enabling your whole team with the best tools they will use to accomplish their work commitments is crucial. Apparently, most of the team is not working in the office, and here’s where advanced project management tools are best used.
A cloud-based application like Pro Crew Schedule has the best project management features. It is designed to help contractors, subs, and project leaders in their everyday work, making it easier and more efficient. It’s top in the market. Request now for a live demo for free!
For now, let’s go over this software’s benefits:
- Document/ File sharing
- External and internal team communication
- Real-time updates
- · Optimized Decision-making
- Collaboration when managing construction projects
9. Keep buildings in the zone
More building owners want to utilize smart thermostats to set air conditioning systems to different sets of temperatures in various parts of the building. While this set-up isn’t new this 2021, it is considered a big and impactful one among HVAC equipment trends.
Also, building owners desire this particular feature for energy efficiency reasons, in addition to convenience. Hence, HVAC manufacturers offer advice regarding the best types of zoning suitable for buildings, depending on the circumstances.
10. 2021 could finally be the spotlight for Geothermal
Geothermal heat pumps are eco-friendly solutions for cooling and warming houses for a very long time. However, it seems to obtain similar attention as solar panels or other money and energy-saving solutions. Are these about to change? Apparently, some industry watchers and observers think so.
Geothermal heat pumps take account for about only one percent of the U.S. HVAC market. However, now that Congress has started to reinstate tax credits, particularly for the HVAC technologies, most forecasters have been hoping for a bump in demand, awareness, and installations.
According to the Department of Energy, almost fifty-thousand geothermal heat pumps are installed across the country every year. If the HVAC industry number starts to increase, is your company ready to reap the benefits?
Smart homes, smart HVAC systems, and smartphones are always in demand more than ever. From self-regulation to remote temperature adjustment to the integration of energy controls to sensors, technology has given us more power than before. Still, organizations like ASHRAE continuously offer guides both for HVAC contractors, manufacturers, and HVAC business owners to follow. Providing the best and safest service possible to clients and consumers is always a priority.