HVAC Residential Market

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Gone are the days of paper invoicing and technicians carrying pagers. Today, savvy contracting owners are implementing the use of intelligent products to simplify daily operations both in the field and the office.

According to a report from Mordor Intelligence, the global smart home market was valued at $35.7 billion in 2017, and it is expected to reach a value of $150.6 billion by 2023, growing at a compound annual growth rate of 26.9 percent during the forecast period.

There are a lot of variables that make it impossible to say there’s one product that’s better than all the rest in every situation; however, everyone has their favorite.

The report indicates that the HVACR market is primed for continued business growth. Reports for 2018 are at an all-time high, with 44 percent of respondents reporting a significant sales increase of more than 10 percent year over year; this is up from an already impressive 2017 record of 35 percent.

Honing in on the high-end heating market, there have been several changes over the years, but four primary trends stand out among the rest: connectivity, efficiency, aesthetics and health, and upgraded technology.

Contractors can find a vast opportunity in selling radiant heat, which is growing in popularity as it gains further recognition by consumers and contractors alike for its unique qualities.

For many contractors, high-end heat represents a good investment with solid returns. So how do contractors get involved in high-end heating equipment? They talk to other contractors and find out what worked for them.

We all know winter is on its way. And HVAC contractors — who brave all types of weather conditions — are using this time to prepare their field technicians and installers for cold weather and the ice, sleet, and snow that come with it.

The expected surge in smart thermostat sales will have equipment manufacturers, many of whom have their own proprietary controls, competing with the well-known universal thermostat brands, such as Nest, Honeywell, and ecobee.