HVAC Businesses Set to Benefit from Increased Consumer Spending

ATLANTA , Feb. 5, 2025 /PRNewswire/ -- HVAC business owners are slated to benefit from increased consumer spending nationwide as more property owners seek to integrate the use of smart technology and artificial intelligence (AI) into their systems.

"While spending is on the rise, consumers are excited about the latest, greatest technology that can help them save money in the long run," said Steve Prebble, CEO of Extu.

HVAC business owners are primed for success, but should prepare for based these trends in 2025, according to Extu:

• The HVAC industry is on a strong growth trajectory, with the global market expected to expand at 7.4% annually through 2030. The demand for commercial air conditioning systems is set to grow at a similar pace (7.43%), and investments in HVAC service management software are projected to reach $1.09 billion by 2030.
• A significant shortage of HVAC technicians has reported in the last two years. And the "silver tsunami" of retiring Baby Boomers is still on the horizon, with 4.4 million people expected to reach retirement age (65) every year from now through 2027. The HVAC industry's ongoing labor shortage will likely remain a critical challenge heading into 2025.
• The smart home market is booming, and HVAC is at the center of this transformation. As homeowners look for greater automation, energy efficiency, and remote control over their home environments, demand for smart thermostats and connected HVAC systems is skyrocketing. However, data privacy concerns are also growing, presenting both challenges and opportunities for HVAC manufacturers.

This immediately follows the refrigerant transition that began in 2024 and will continue for years to come as consumers require maintenance or equipment replacement.

"We may see more regulations or changes in existing rules come from the new administration as well since there has been swift action in several other areas of industry in less than the first 30 days," said Prebble.

Extu is creating personalized plans for its HVAC clients to leverage channel marketing and incentive solution to best support contractors and business owners as they meet consumer demand and differentiate themselves amongst a crowded field of talent.

"One of the things our team prides itself on is that even if a client's competitor comes to us asking for their 'secret recipe,' not only will we not give it to them but we can't because our solution for each client is so highly personalized and tailored to their needs," said Prebble.

About Extu
Extu specializes in providing innovative channel incentive and marketing technology solutions to mid-market companies in various industries, including automotive, energy, building and construction, and IT. With a focus on delivering measurable results, Extu's solutions empower businesses to drive growth and enhance channel performance.

SOURCE Extu