Top 10 HVAC Marketing Trends in 2023
The HVAC industry is ultracompetitive, and HVAC business owners need to do everything you can to set yourself apart from other businesses in the market. Paying attention to HVAC industry trends can help you stay ahead of the competition. By aligning your marketing strategy with the most effective sources and tactics to reach HVAC customers, you can grow your business and earn a greater market share.
Valve+Meter Performance Marketing is a leader in HVAC marketing. Our team works with HVAC business owners, HVAC manufacturers, and uses a wide range of data sets to identify trends and offers insights into the current and future state of the HVAC industry.
What is the Market Outlook for HVAC in 2023?
The HVAC market is constantly growing and changing, with new technologies and techniques being developed seemingly on a daily basis. While there is a lot of muddled HVAC industry statistics, some key trends include:
- Sustainability: Environmentally friendly hvac services are rapidly rising in the residential sector. Homeowners are seeking out solutions like geothermal heating and air source heat pumps.
- Technology: The demand for smart technology and energy efficiency is also driving HVAC trends and industry growth. Cutting edge technology is inspiring consumer demand to replace older HVAC systems. Manufacturers are focused on smart HVAC technology and accessories like the smart thermostat, solar HVAC, and designs that reduce energy consumption.
These two primary HVAC trends should guide all HVAC businesses in 2023 and beyond. Building a cadence within sales, marketing, and operations toward consumer demand will earn credibility and grow your reputation. There is no doubt HVAC future trends will include higher energy efficiency standards and a continued focus on environmentally friendly equipment.
Industry Growth and Revenue
The HVAC industry is experiencing rapid growth, with increasing revenue opportunities for businesses. The increasing demand for energy-efficient HVAC systems, the increase in the average age of available homes, and the increasing focus on indoor air quality are some of the key factors contributing to the growth of the HVAC industry.
Energy efficiency has become a major priority for many consumers and businesses in recent years. As they look for ways to reduce their energy consumption and lower their carbon footprint, the HVAC industry is responding. An emphasis on manufacturing energy-efficient HVAC systems that can help reduce energy costs, while still improving indoor comfort is one of the leading HVAC industry trends.
New homes and properties require high-quality HVAC equipment to keep everyone safe and comfortable while inside the building, making the construction and housing industries major drivers of HVAC market growth. The increasing urbanization and population growth in America and beyond are expected to drive demand for new construction and housing in the coming years, which will ultimately lead to further growth in the HVAC industry.
Since the COVID-19 pandemic, the emphasis on high indoor air quality has become a key consideration for many commercial building owners and managers. This has resulted in increased demand for HVAC systems and HVAC services that can provide advanced air filtration and ventilation to reduce the risk of viruses and bacteria transmission. Marketing these products can help to match equipment with customers who are looking for ways to protect their loved ones from harmful bacteria and airborne particles.
The global pandemic also increased homeowners demand for HVAC services that improve indoor cleanliness such as media air cleaners, air purifiers, ductless mini splits, and other accessories.
Sustainable Technology and Maintenance
Customers are prioritizing sustainable HVAC systems and investing more in maintenance to ensure long-term efficiency. Systems like ductless HVAC systems and heat pumps are known to be among the most efficient systems for heating and cooling a home, but even newer furnaces and central AC systems are built with long-term efficiency in mind.
Placing an emphasis on the efficiency of newer HVAC systems can appeal to customers that are not only looking to take advantage of lower energy bills, but also those that want to lower their carbon footprint.
Additionally, marketing your maintenance and tune-up HVAC services can help you reach customers who are looking to keep their current HVAC systems running at peak efficiency for as long as possible. By offering these services, you can show customers that you are committed to providing them with top-notch heating and air conditioning services throughout the entire lifespan of their equipment. This is one of wide number of key marketing tips to maximize success in 2023.
More complex technology in air conditioning and heating systems dissuades the DIY homeowners further contributing HVAC market trends toward more demand for professional services.
Skilled HVAC Technician Shortages and Supply Chain Challenges
Finding talented, qualified employees in 2023 is difficult for companies in all industries, and the HVAC industry is no different. Businesses are facing challenges in finding skilled HVAC technicians and acquiring the necessary materials and equipment. While HVAC techs realize that a career in the industry is rewarding and fulfilling, the industry is expected to experience a labor shortage in the coming years. As a result, your company should be focusing on ways to improve employee retention, such as offering competitive compensation packages, providing opportunities for career growth and development, and creating a positive work culture.
The HVAC industry is still experiencing supply chain issues related to the COVID-19 pandemic. This has led to material shortages, longer lead times, and increased costs, making it especially difficult for companies to fulfill service requests. To mitigate these challenges, companies are adjusting their approaches to marketing and supply chain management, such as diversifying their supplier base, heavily marketing their repair and maintenance services, and exploring alternative materials and equipment sourcing options.
HVAC market trends are moving in the right direction for the global HVAC supply chain. HVAC manufacturers are reporting positive data. Still, HVAC business owners will need to optimize efficiency in operations so help HVAC technicians complete work and feel accomplished within this career field.
HVAC companies are adopting software to streamline work processes and prioritize recruitment efforts for skilled technicians. Software automation can help HVAC companies streamline their work processes and improve efficiency. This software can be used for a variety of tasks, such as:
- Scheduling appointments
- Tracking customer data
- Managing inventory
- Generating reports
In the HVAC industry, prompt response to lead inquiries is essential to growth. Automating these tasks can help you save time and allow your HVAC technicians to focus on ways to better serve your customers. HVAC technicians can also feel more supported with your HVAC business with this technology. More time to focus on company culture, reduce personnel fatigue, and build your HVAC business are all positive trends.
Importance of Company Culture and Mobile Communication
Effective communication and a strong company culture are essential to any organization’s success. Not only do they play a critical role in attracting and retaining employees, but they are also crucial for a company’s marketing efforts. HVAC industry trends are focused on quality of working life.
A positive company culture can help to create a sense of community among employees and foster a shared sense of purpose, helping all members of the business stay on the same page. This can lead to increased employee engagement, productivity, and job satisfaction, which in turn can lead to better customer service and a better overall customer experience. When employees are happy and motivated, they are more likely to go above and beyond for customers, ultimately leading to positive reviews, more word-of-mouth recommendations from customers, and increased customer loyalty.
Meanwhile, mobile communication is becoming increasingly important in the workplace. With technicians potentially having jobs on the other side of the city or even across the state, it’s essential that employees have the tools and resources they need to communicate effectively and efficiently, regardless of their location. Mobile communication can also help to streamline workflows and improve collaboration, which can increase productivity and ultimately help your technicians better customer service.
From a marketing perspective, an intentional effort on improving mobile communication can be used to deliver targeted messages to customers, promote products and services, and engage with customers on social media platforms.
IoT and Green Initiatives
The “Internet of Things” and green initiatives continue to shape the HVAC industry, driving innovation and new product development. In some areas of the country air conditioners and other conventional HVAC equipment is being phased out for more efficient HVAC systems. The smart thermostat, WiFi connected HVAC units, and other home automation offers another source of revenue for the HVAC service industry. While air conditioning and heating are seasonal services, home automation like smart lighting, smart locks, doorbell cameras, EV outlets, and other IOT devices are home services with year round demand through the residential sector.
Personalized Customer Service
Some HVAC industry trends are backed by popular demand. Providing personalized customer service is becoming increasingly important, with customers expecting tailored solutions and experiences. Now more than ever, customers expect to be met with solutions to their problems that match their unique needs and preferences.
Homeowners don’t want air conditioning and heating, they need HVAC techs and HVAC business owners who care about the comfort and safety of their families.
Personalized customer service involves treating each customer as a unique individual, rather than treating your audience as one singular group. It requires businesses to gather information about their customers and use that information to provide customized recommendations, offers, and experiences that meet the unique needs and preferences of each customer.
By delivering personalized customer service, businesses can build stronger relationships with their customers, increase customer loyalty, and ultimately drive sales and revenue. Customers are more likely to return to a business that offers personalized service, and they are more likely to recommend that business to others.
Digital Payment Methods
Digital payment methods are replacing traditional payment methods, offering greater convenience and security for customers. Whether paying for HVAC services or a complete system installation, homeowners do not write checks. This can lead to a challenge as credit card processing fees cut into margins. Electronic bank transfer (EBT) options help reduce processing fees and still provide the convenience of a digital payment for your customers.
Geothermal technology is predicted to gain momentum in 2023, offering a sustainable and energy-efficient alternative to traditional HVAC systems. One of the best solutions for energy consumption, geothermal can be highly profitable for HVAC businesses because competition is lower and homeowners are willing to invest in the technology.
Intelligent and Zoned HVAC Systems
HVAC systems are becoming more intelligent and “zoned” for greater efficiency, allowing businesses to optimize energy usage and reduce costs. Climatic control technology leading the year includes zoning, especially in homes with multiple family members. Remote work and permanent work-from-home culture have homeowners clamoring for more personalization beyond the smart thermostat market.
What are the most distinct HVAC Innovations in 2023?
- Smart thermostats: Smart thermostats are becoming increasingly popular throughout the HVAC industry as they offer a number of benefits, such as the ability to control your HVAC system from anywhere, receive alerts about potential problems, and save energy. The US smart thermostat market is expected to grow from $1.09 billion in 2021 to $3.86 billion by 2029, exhibiting a CAGR of 17.2% during the forecast period. The market growth is attributed to the increasing adoption of smart thermostats by consumers, rising demand for energy-efficient solutions, and the growing popularity of smart homes.
- Geothermal heat pumps: Geothermal heat pumps are a more efficient and environmentally friendly alternative to traditional HVAC systems. This HVAC equipment uses the earth’s natural heat to heat and cool homes and buildings, which can save you money on your energy bills.
The U.S. geothermal heat pump (GHP) market size is expected to grow from USD 2.3 billion in 2022 to USD 3.9 billion by 2028, at a CAGR of 4.5% during the forecast period. Rising government initiatives to promote the use of renewable energy sources has increased consumer demand and the declining cost of geothermal heat pump systems.
Energy efficiency is not the only benefit as these systems are considered to be more durable and provide homeowners a longer lifespan than other HVAC equipment.
- Variable refrigerant flow (VRF) systems: VRF systems are a type of HVAC system that uses multiple smaller units to distribute conditioned air throughout your home. This makes them more efficient and flexible than traditional HVAC systems. The U.S. variable refrigerant flow (VRF) market is expected to grow from USD 16.61 billion in 2022 to USD 29.89 billion by 2032 at a CAGR of 6% between 2022 and 2032.
- Solar-powered HVAC systems: Solar-powered HVAC systems use the sun’s energy to heat and cool your home, which can save you money on your energy bills and reduce your carbon footprint. One of the fastest rising HVAC market trends, solar powered air conditioning units, heat pumps and heating systems are positioned to appeal to many homeowners. According to a report by SolarReviews, the US solar-powered HVAC market is expected to grow from $1.2 billion in 2021 to $5.7 billion by 2028.
- Ductless mini-split systems: Ductless mini-split systems are a type of HVAC system that does not require ductwork. This makes them a good option for older homes or homes with limited space.
- Ductless systems are being embraced by the construction industry and many communities because of the reduced materials needed to build the system. Like other heat pumps, this HVAC technology is considered a renewable energy. Some HVAC businesses are adapting to local regulations that limit conventional air conditioning and heating systems that generate direct carbon emissions.
- The US ductless mini-split systems market was valued at USD 7.1 billion in 2022 and is expected to reach USD 13.4 billion by 2028, growing at a CAGR of 8.1% during the forecast period.
Variable speed heat pumps, AC units, and furnaces: Variable speed systems adapt to changing conditions, providing precise heating or cooling while optimizing energy efficiency. When working in conjunction with smart thermostats or zoning systems, variable speed compressors enhance performance and customization options for different areas or zones. HVAC businesses are leaning into this technology and creating more personalized heating and cooling systems for families. The variable speed HVAC market in the US is expected to grow from USD 4.61 billion in 2022 to USD 6.5 billion by 2028, at a CAGR of 5.90% during the forecast period.