Welcome to 2023. There is so much happening in the not-so-post-COVID world that it might be good to pause and look at what’s happening and what it could mean to commercial HVAC contracting firms.
From an economic standpoint, most market research groups are saying the economy is still going strong. They say with just a few bumps in the road, 2023 should be a great year.
For example, market research firm Technavio, in a December 2022 press release, estimates the U.S. HVAC systems market will surge by $22.1 billion from 2021 to 2026 at an accelerating compounded annual growth rate (CAGR) of 4.2%.
The release says one factor driving growth is the increased construction of data centers. That makes sense with the influx of smart building tech over the last five years. Commercial HVAC systems are indispensable for data centers. They maintain temperature, humidity, airflow, and cleanliness so sensitive electronic components continue to function correctly.
For those contractors involved with smart building technologies focused on controlling energy consumption, the good news is that more building owners and managers are turning to these systems so they can better manage their HVAC systems.
Technavio also cites the growing importance of air monitoring systems in HVAC equipment. The reasons start with indoor air quality. But they also the impact of proper air control in the life of commercial HVAC systems.
Tom Winstel, president of Cincinnati-based Enervise, LLC – a commercial HVAC contractor – says, “During the pandemic, building owners suddenly understood the difference between good and poor filtration. We also saw increased demand for air purification, either through ultraviolet germicidal irradiation or bipolar ionization devices. Sales of those types of air handler renovations increased significantly. And as the pandemic grew, IAQ demand by building occupants increased.”
He adds that the key for his company was to ensure his team was talking with and listening to building owners’ needs so they could provide the best service possible. He wrote about this in an article entitled, “Changes Caused by the Pandemic in Commercial HVAC Service.” Read here: ncilink.com/Winstel.
According to the American Institute of Architects (AIA), 2023 looks good. Spending in 2022 is up 9% and spending for 2023 is forecasted to be up another 6%. In their Consensus Construction Forecast they say “This outlook is somewhat more optimistic than what was projected at the beginning of the year, largely due to the extremely strong gains in the manufacturing category, as well as surprising strength in retail facilities.”
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