The HVAC Market is Healthy

In April, the Bureau of Labor Statistics releases interesting information on the HVAC market. It offers a quick overview of what HVAC professionals do and their work environment. It also looked at the median pay and what the job outlook is like for the industry.

The good news is that the HVAC industry is looking at a job outlook of 15% which shows higher growth than other industries. What this means is that the job market is expected to grow 15% from 2016 to 2026. This covers employment for heating, air-conditioning and refrigeration mechanics and installers. Both commercial and residential building construction is noted as the driver in employment growth.

For those who are more in the repair and replace business, with the growing interest in energy efficiency and environmental concerns, there is an increase for demand for HVACR technicians as homeowners look to retrofit, upgrade or replace their current systems to be more in line with energy and cost savings.

And if you’re wondering how your pay compares to the median, the medium annual wage for HVAC mechanics and installers was $47,610 in May 2018. The average per hour rate is $22.89 per hour.

Here is a link to the full report – https://www.bls.gov/ooh/installation-maintenance-and-repair/heating-air-conditioning-and-refrigeration-mechanics-and-installers.htm.

The good news is that there is plenty of opportunity out there for HVAC professionals and the market continues to grow. This is why it’s even more important to look for opportunities to upsell and upgrade your current customers with new, more energy efficient and cost savings solutions.

The LUX smart thermostat is a great entry point in this process. We have a number of options that are priced below $150. The LUX KONO and GEO may be a great fit for your next project. Check them out.