HVAC Industry Trends & Statistics You Must Know to Survive in 2021 and Ahead!
The HVAC industry is growing faster with each passing day. It is the industry that will never face any kind of a shortage of needs, there will always be homeowners or business owners who will need HVAC services now and then.
We are so used to the energy and have taken it for granted. We often turn up the temperature when we feel cold or keep it down when we feel warm. But very rare people know that this business is managed and impacted by various regulations, which vary from state to state. The 2020 year has been fascinating so far for the HVAC industry. New challenges were raised due to the pandemic situation and higher demand for greener and more innovative technology caused an increase in the demand for HVAC software.
More than ever, customers are looking for new ways to keep their homes energy-efficient and environment-friendly. And thus, for homeowners or HVAC services providers, it has become imperative to keep an eye on the HVAC industry’s future trends and statistics. That’s why we decided to provide you with the most recent HVAC industry statistics and trends. So, let’s dig into it!
HVAC Industry Statistics & Trends you must keep an eye on!
The HVAC industry is growing much faster than ever!
One of the biggest trends in the HVAC industry is its GROWTH. According to the survey conducted in 2019, 88% of respondents from HVAC services conveyed it was an “excellent” year considering their business. 43% among them expected 5-10% growth for their business. It is considered a good sign of how current HVAC services providers are doing. If you have the right infrastructure and HVAC load calculation software in place, you can even expect more in 2021.
More ‘n’ more people are getting into the HVAC industry
If you don’t believe it, have a look at the recent statistics on employment in the HVAC industry. Roughly, 1.2 million people were employed by HVAC services providers in the U.S. in 2018. It has been predicted that the HVAC industry will see a 13% growth by 2028. This proves how stronger the HVAC industry is and how more and more people are working with HVAC services providers.
Internet of Things and Smart Home concepts will play a key role.
Technologies like IoT and smart homes are getting attention from homeowners. Today, more than 33 million homes in the U.S. comprise smart thermostats, with 20% of spending increased on climate control of the market since 2016. IoT-enabled smart HVAC load calculation software helps users to operate the connected system remotely. In the future, the rise of IoT and smart home concepts will see a huge surge.
Digital marketing will be crucial for HVAC services providers
Do you know that businesses that are not taking advantage of online advertisement risk losing their potential customers? No matter how hard you invest in promoting your residential HVAC calculator software, you are on the losing side if you don’t leverage online advertisements. In the future, the trend of promoting and marketing Home Performance Audit software online will be the need of the hour. It will be a lethal weapon for HVAC services providers to survive in the market in the future.
The HVAC industry will be transforming for mobile-first communication!
It will become mandatory for the HVAC industry to adopt the latest tools to simplify the work and improve communication. Most people rely on mobile devices, and roughly 45% of HVAC workers say they prefer texting instead of emails to communicate. Adopting mobile-first communication will help you improve productivity within your organization.
Customers will be using digital ways to pay
The HVAC industry leaders must think of adopting online payments for their residential HVAC calculator services. The recent growth of financial technologies, apps, and platforms has made it easy for customers to pay online. If your HVAC load calculation software still doesn’t support online payment, it is high time to think about digital payments.
Think about going GREEN
Global warming is a major concern, and many consumers often express their concerns about the environmental impact of the products or services they use. According to the survey, more than 50% of the HVAC services market is willing to pay more for eco-friendly products. This means, if HVAC services are not environment friendly, you are on the losing side in the future. It is high time to design products that are not just environment-friendly but also help consumers reduce their energy consumption.
Don’t forget the personal touch!
It is not just employee expectations, but consumers’ expectations are also changing in the HVAC industry. It is found that 78% of younger consumers expect customer service representatives to know everything about their purchase and contact as soon as they start interacting. So, it is important that your HVAC business should start using CRM tools and applications to bring the best customer experience.
Geothermal may be the next big thing!
Considered as the forgotten renewables, geothermal heat and energy use underground pipes to manage temperature and are used widely across the globe. With the recent amendments in the rules and regulations, geothermal may be the next big thing every HVAC services provider should consider. It is important that your HVAC load calculation software is up-to-date to cater to this new change in the future.
And last but not the least, every HVAC services provider will have to adhere to new safety measures due to the COVID-19 pandemic
The COVID-19 has affected the HVAC industry as much as the rest of the economy. Since many HVAC services providers have transitioned to remote work and adopted Residential HVAC Calculator software, greater safety precautions will be essential in the future for the company as well as for the employees.
So, keeping an eye on these future trends and statistics about the HVAC industry is crucial to stay ahead of the competitors. The HVAC industry is evolving rapidly, so stay tuned with the latest industry trends. HVAC calculator or industry-best HVAC software to fight back in this pandemic situation? Get in touch with our experts now!