The economic recession brought new construction to a grinding halt, thus impacting the HVAC industry severely. What’s more, the number of foreclosures nationwide added further brakes to the housing market; consequently, too, the commercial markets reacted negatively to the downturn.
With today’s uptick in the housing market, and incremental growth in business sectors in general, the HVAC industry is enjoying a growth spurt, including the need for more hvac service techs: Consumer’s are more conscious about “green” building methods what they can do to make their homes and business more energy efficient.
Added to this new awareness are numerous government initiatives aimed at reducing the consumption of energy, all of which helped propel the resurgence of the HVAC sector since the recession. The backbone of this resurgence is the demand for more energy-efficient units.
In fact, the HVAC sector recorded a healthy 6.4% growth period for all of 2012, after the uptick began in 2011, according to a post Watchlistnews.com. The report notes:
As more homes and commercial structures are built and require HVAC service and installation, demand for industry technicians will grow strongly. .. national standards for energy efficiency and a growing trend toward lowering household and business energy use is projected to encourage building owners to upgrade to more efficient systems.
Interestingly, the biggest concentration of this growth is will occur with smaller companies, who may specialize in specific HVAC systems. As such, these businesses make up more than half of “enterprises in the industry” total one to four employees; furthermore, a percentage of these firms are self-employed contractors.
For the most part, the HVAC industry focuses not only on the installation of systems, but also the additions to, alterations and maintenance/repairs.
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