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6 Market Trends in the HVAC Industry

The HVAC industry is continuing on its consistent path of ever-changing innovation and development. From company culture models and changes brought on by COVID-19 to the emergence and popularity of geothermal systems, keeping up with the latest trends is proving to be essential to running a successful business.

What are the emerging trends in the HVAC market?

As the industry develops, so does the need to be up to date constantly. For a business owner, this is of the utmost importance. In the following article, we take a look at six trends that are reshaping the industry.

The HVAC industry is growing 

The future of HVAC lies in its continued growth. According to various surveys, companies in the HVAC industry are experiencing steady business growth, with trends showing a promising future in the years to come.

Healthy company culture is essential

The industry's rapid growth pace, coupled with the inevitable retirement of older and experienced specialists, brings the need for a younger generation to take their positions. For millennials, and younger people in general, company culture and a healthy atmosphere are crucial to their working experience. Therefore, it's important not to overlook this aspect of your business model and find ways to enhance performance, boost employee morale, and create a positive working environment. 

Employees are starting to prefer mobile communication 

A healthy working environment doesn't necessarily mean bonuses, awards, or team-building events. In this day and age, implementing various tech tools to make communication easier and more accessible is key to running a streamlined form of business. Long gone are the days when emails were the standard and only accepted form of communication among employees as well as customers. 

Instead, nearly half of today's workforce prefers texting over email or phone calls. Increase the productivity of your employees by reducing phone calls and installing dispatch boards that can instantly send a text to technicians in the field.

The Internet of things is here to stay

From refrigerators and TVs to stereo systems and lighting fixtures, "smart home" tech devices are on the rise with no sign of stopping. The Internet of Things (IoT) has become an integral part of modern living. It's inevitably impacting business across industries, providing more flexibility with online platforms, interconnectivity, and new and improved software. It's having a major effect in the HVAC marketplace, with more and more companies turning to cutting-edge wi-fi-enabled products.

Geothermal is coming up fast

Geothermal heat pumps have long been an eco-friendly solution for warming and cooling houses. Still, they don't seem to get the praise that solar panels and other technologies are receiving. But, judging from experts in the know, this is about to change.

Across the US, there are nearly 50,000 geothermal heat pumps installed every year. With Congress reinstating a tax credit for HVAC systems, the forecast is a positive one for geothermal heat pumps.

COVID-19 has changed everything

Despite a solid start to 2020, the HVAC, much like other industries, came to a screeching halt brought on by the global pandemic. Along with it came a need to adapt and implement various forms of safety precautions. As a result, many companies made the inevitable transition from office to working from home. With the pandemic showing no signs of winding down, remote work and safety protocols will be in place for the foreseeable future. 

The Larson Company can provide advice for a successful launch

Keeping up with the latest innovations in an ever-evolving industry means you are serious about your work. Whether you’re in the midst of starting up your HVAC business or looking for new and innovative ways to deliver a top-quality service to your customers, utilizing all the valuable information is integral to a booming business.

However, there’s something else that leads to success – partnering with the Gustave A. Larson Company. We’re constantly following the latest developments in our industry, which allows us to keep creating new and modern employee training programs, as well as offer a selection of cutting-edge HVAC software solutions to contractors. We’re here to help you advance your business and provide any additional assistance you require. Contact us today!