Whether you are considering a career in HVAC, are already firmly entrenched in the industry, or are a consumer wanting to know more about HVAC before making a purchasing decision, there is always knowledge is always power.
Or, to put it another way, there is strength in numbers and statistical numbers in particular. So you should always know what you are getting yourself into, whether you are buying a new AC unit or deciding on a career path.
To that end, HVAC Webmasters thought we’d dedicate today’s blog post to the most exciting and insightful HVAC industry statistics.
1) The HVAC Market is Projected to Grow by 6.1%
Back in 2020, the HVAC market in the United States was estimated to pull in 57 billion dollars. In just five years, that number is projected to reach 82.5 billion dollars. That’s a projected industry growth of 6.1%.
Beyond this immediate growth, experts predict that with the ongoing climate changes, demand for HVAC systems will only continue to grow. Such a trend may be of particular interest if you try to decide on a career path with good job security.
2) The Average HVAC Technician Salary is $23.68 Per Hour in the US
So you know that your HVAC job isn’t likely to be in danger any time soon, but how much can you expect to be paid? That all depends. The number one factor that will determine your HVAC salary is where you live.
The average salary for HVAC technicians varies by state. The national average, however, is $23.68 per hour. To put that figure into perspective for you, consider that as of May 2021, the national average for hourly pay in the US was $11.41.
Some of the highest paying states for HVAC contractors and technicians are on the East Coast to give you even more perspective. For example, Connecticut pays its HVAC technicians the highest national hourly rate at $52.93 per hour. Conversely, Idaho HVAC specialists earn the lowest average at just $22.22 per hour – more than a dollar below the national average.
3) 46,000 new HVAC Jobs will Be Created by 2028
If you are wondering how likely it will be to find a job once you are a licensed HVAC technician, consider the following statistic: the Bureau of Labor estimates that by the year 2028, there will be 46,000 more HVAC jobs created in the US alone.
What’s the reason for this boom? Well, as we already discussed, climate change is playing its part. More importantly, however, is the growth of the construction industry. The HVAC and construction industry have always been very closely tied and as one goes, so does the other. At least most of the time.
Labor experts believe that because the construction industry is projected to grow in the coming years, the HVAC industry will too. As a result, 46,000 more jobs will be needed to be filled by 2028 which, translates to a 13% increase in job growth.
4) 75% of US Homes Have Central Air
Wondering what you might want to specialize in as an HVAC contractor or technician? According to experts, you might want to brush up on central air units in particular. It is estimated that 75% of US households have central air systems installed.
Still, you shouldn’t simply assume that everyone in your geographical market will need central air services. As with most things in life and work, it all depends on the region. For example, if you live in a northern state, you will likely see fewer central air units. Instead, you will probably run into many more window units and individual cooling appliances in colder regions where air conditioning is only needed a couple of months a year. In this case, it may be wiser to specialize in swamp coolers, window units, and portable AC systems.
5) 67% of Households in Southern States Leave Their AC Running All Day
If you live or have ever visited the South, you know how brutal and unrelenting the heat can be. A survey of Southern households revealed that more than 67% of residents leave their air conditioner running all day.
If you don’t live in the South but are willing to go to where the demand is the highest for HVAC technicians, this statistic may make you consider a relocation. The only drawback is that most people don’t have their air conditioner serviced every year like they ought to – even in Southern states.
Still, it is an encouraging statistic as an HVAC contractor because you know that there will be many AC repair and replacement opportunities in the South.
6) The Average American Pays $319 on HVAC Repair
There are no set guidelines for how much you will pay for HVAC repair/service as a consumer. It will always depend on where you are, what the nature of the repair/maintenance is, what type of unit you have, and who you hire, just to name a few factors.
On average, though, you will pay $319 to have your AC repaired or serviced. If you need your furnace looked at, you can expect to pay an average of $268. You can also spend upwards of $2,900 for serious HVAC repair jobs or installations.
7) California had the Most HVAC Jobs in 2019
As recently as two years ago, California led the nation in employed HVAC technicians and contractors. In 2019, California employed more than 187,000 HVAC technicians and contractors. That was by far the highest in the country. The state with the 2nd highest number of HVAC employees was New York with 67,300.
Those numbers are expected to hold steady too. As a result, the HVAC industry’s job growth is expected to mirror the overall industry growth in the nation.
8) The Industry is Moving Away from Gas Heaters
Home appliances are changing and evolving. For example, since 2001, the popularity of electric water heaters has grown. As a result, more people have electric water heaters installed in their homes and are moving away from gas storage units.
The reason for this is the perceived superior efficiency of electric water heaters. As a result, they are said to waste less electricity and water.
9) More People Use Gas and Electricity to Heat their Homes
Gone are the days of kerosene, propane, and fuel oil. Instead, most Americans use gas and electricity to heat their homes in 2021. It is estimated that 43% of Americans utilized utility gas to heat their homes, while 44% have already switched over to electrical heating systems.
Take your HVAC Company Into the Future
Here at HVAC Webmasters, we are all about helping you prepare for sustained success. That’s why we wanted to provide you with some HVAC industry statistics that highlight the current industry trends. That’s also why we offer modern digital marketing services.
Your HVAC business won’t survive in the digital age unless it employs digital solutions. So let us take your company into the future today.