Turn Up The Heat: Hvac Work Is Trending Up

The HVAC system market is projected to reach $455.96 billion by 2028 — a huge bump in demand from $246.10 billion in 2022.

This projected 10.8% CAGR (compound annual growth rate) jump in HVAC work is momentous and cannot be ignored, especially when North America is leading the global charge. Construction industry growth in the U.S. alone is already impacting HVAC market growth trends. So, how can you harness the benefits of this business boom?

A look behind the sheet metal
First, consider what’s behind the numbers:

• Global warming and the desire for decreasing greenhouse gas emissions • bouncing back from pandemic shortages
• Growing commercial building needs
• Increasing demand for smart homes, including smart HVAC systems
• Outdated equipment
• Maintenance contracts
... And the list goes on.

If you’re in the business of addressing these issues, the good news is: It’s your time to shine. But it’s going to take a little elbow grease to excel at marketing your company in an increasingly competitive market. If you haven’t yet explored digital marketing, now’s the time to start. By following a digital-first strategy (including an attractive, mobile-friendly website), you’ll build a strong online presence, boost viable website leads and establish yourself as one of the leading providers in your area.

When it comes to existing customers in the commercial space, consider checking back with them. If you installed their unit 10+ years ago, your timing could be perfect. Perhaps their needs have changed and they’re ready to upgrade or go green. Contractors specializing in residential work will likely find increased work soon due to tax incentives for homeowners to become more energy efficient. Either way, those older systems are probably long overdue for maintenance, if not a full overhaul.

Growing revenue in the digital space

New customers are out there, but you need to meet them where they are (online). Take a look at some of the best ways to start growing your presence and capitalizing on the benefits of a digital presence:

• Create a digital marketing strategy (or hire someone to help). This can include search engine optimization (SEO), pay-per- click ads (PPC), other digital ads (such as retargeting), video marketing and social media campaigns — or combine all of these for a more robust plan.

• Launch a well-crafted email marketing campaign to retarget established customers (because we know it’s easier and more cost-effective to retain an existing customer than to acquire a new one).

• Analyze your web metrics. This information is priceless as there is so much to glean from visitor behavior on your
website — everything from what time your visitors are active to how long they’re spending on your pages ... and more!

• Update your website (content, blogs, etc.) and logo. A new look and feel that shows your professionalism, expertise and authenticity are crucial to building trust, particularly with younger customers.

• Implement a customer referral program — because your best salesperson is a happy customer.