The Booming HVAC Industry: What Does the Future Hold?

The heating, ventilation and air conditioning (HVAC) industry is experiencing rapid growth. According to the Bureau of Labor Statistics, the sector is projected to grow by 8% by 2030, with an estimated 38,500 vacancies for HVAC servicemen and installers every year. This growth is being driven by a number of factors, including the increasing popularity of “smart home” technology, the reinstatement of tax credits for HVAC technology, and the growing demand for greener products. In addition, the global supply chain problems and prolonged heat are leading to an increased need for HVAC units and parts, creating more opportunities for HVAC servicemen. The Internet of Things (IoT) has been a major driver of growth in the HVAC industry.

It is estimated that more than 14 million households in the U. S. are using “smart home” or smart technology devices and products, and that number is expected to only increase. This means that HVAC workshops can offer their customers easy capture of credit cards and checks at the point of sale, online payment options, and other quick payment features.

Motili's HVAC efficiency tool also helps the real estate industry calculate carbon emissions from HVAC operations. This tool, combined with the growing demand for greener products, means that HVAC workshops can help the environment by offering more efficient and environmentally friendly products that meet this trend. The ServiceTitan National HVAC Championship has also provided insight into what the future holds for the industry. Competitors and winners have shared their ideas and experiences from the first part of HVAC of the Elite Trades Championship.

This has helped to raise awareness of the industry and its potential for growth. Overall, it is clear that the HVAC industry is in a period of rapid growth. With a projected growth rate of five percent, now is the time to take advantage of this trend and offer customers efficient and environmentally friendly products. By doing so, HVAC workshops can benefit from a greater market share and higher prices linked to this trend.