HVAC 2015 Predictions: Timothy Kane’s Top 3

HVAC 2015 Predictions: Timothy Kane’s Top 3

2015 is already upon us, and that means it’s time to tackle HVAC industry predictions for the coming year. First up? Goodway President Timothy Kane and his top 3: Strong HVAC install numbers, the rise of green systems, and increased impact of product innovation. Let’s take a quick look at each one.

Improving Economy

The American economy is recovering nicely after a five-year slump, and financial institutions are easing off the ledge when it comes to handing out new mortgages. While we won’t see anything approaching the housing craze of 2007-2008, CNN Money predicts that 2015 will be the year that first-time homebuyers come back to the market. This is partly thanks to rising rents paired with too-slow salary increases for young professionals, but also because banks are starting to ease up on lending restrictions and home builders increase the number of starter homes for sale.

This is great news for the HVAC market, since every one of these new homes needs some kind of heating, air conditioning, or ventilation system installed. This means higher numbers of new installs — and according to the U.S. Bureau of Labor Statistics a better job outlook, with HVAC careers predicted to grow at a faster-than-average rate through 2022.

Green HVAC

The next big trend for 2015? Going green. According to ACHR News, the energy management and home automation markets will see big growth through 2020 as homeowners look for ways to reduce their environmental footprint without compromising comfort. Federal regulations are also changing to accommodate local ecosytems. As of January 1st, minimum efficiency standards will vary by region. For example, a split air conditioner with a 13 SEER rating now meets minimum code in West Virginia, but won’t satisfy the 14-SEER requirement if you cross state lines into Virginia.

Bottom line? Homeowners are increasingly aware of the impact their HVAC systems have on the environment. The federal government, meanwhile, looks to standardize installation practices while still respecting state authority.

Product Innovation

The goal of any HVAC installation is to maximize efficiency and minimize the need for unexpected maintenance. As noted by Sourceable, however, a recent NIST study found that installed HVAC units can decrease system performance by up to 30 percent, meaning more money spent on heating and cooling and a greater chance of equipment failure.

Through 2015, expect to see a renewed focus on unit efficiency and the rise of preventative maintenance plans designed to predict typical problems and correct minor issues before they become major flaws; an ounce of prevention could save thousands of dollars in cure.

Want to know more about where the industry is headed this year? Check out our interactive predictions infographic for our other 2015 HVAC industry predictions.

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