HVAC Technician Outlook
HVAC technician jobs are expected to grow by 4% between 2019 and 2029. The profession also has great compensation and high demand. Below, we have provided evidence to support the hypothesis that it is beneficial to get into the HVAC industry.
Evidence of the Need Right Now and in the Future for HVAC Technicians
- According to the Associated General Contractors of America, 80% of construction companies in the US are unable to find qualified workers for their projects, and this includes HVAC technicians.
- New building construction and changing environmental laws are among the factors supporting the growing demand for qualified HVAC technicians. There are also emerging technologies driving innovation in the HVAC industry, especially for refrigeration equipment and central air system equipment. This means that trained technicians will be required for preventative maintenance as home and business owners will not be able to do it by themselves.
- As HVAC systems become more advanced, older systems will need replacement as they will be less efficient. With the growing demand for new installations, business for HVAC companies will also grow.
- The BLS predicts that HVAC technician jobs would grow by 4% between 2019 and 2029, a growth rate as fast as the average of all job fields nationwide. Moreover, the US Department of Energy reported ongoing growth of "jobs that support energy efficient products".
- A 2019 report by Research Cosmos predicted strong growth (4.6%) in the HVAC equipment market between 2019 and 2024, attributing it to the replacement market as aging systems are replaced by newer systems that are energy-efficient; and extensive adoption across North America due to advantages such as power-saving techniques.
- Another 2019 report by Grandview Research forecasts strong growth (6%) of the HVAC systems market between 2021 and 2028, attributing it to factors such as increasing disposable income, growing demand for new houses, and growth in construction expenditure. In addition, they expect the HVAC industry to grow as a result of energy credits from state and federal governments.
- Reportlinker expects the HVAC services market to grow at a CAGR of 12.5% between 2020 and 2025 due to the growing construction business and end-user markets. In addition, Research and Markets expects thus market to grow at a CAGR of 3.1% between 2020 and 2030, due to the booming construction sector in the US as a result of increasing urbanization and population growth.
Benefits of Becoming an HVAC Technician
- The HVAC industry provides job security because it has high demand, and as long as there are buildings, refrigerators, air conditioners and heat systems, "there will be a need for skilled professionals to service them." It is a recession-proof sector.
- The profession also has great compensation, as HVAC technicians earn higher than average in comparison to other industries. According to the Bureau of Labor Statistics, the median pay for HVAC technicians in 2020 was $50,590.
- HVAC technicians do a variety of things, and no two days look the same. There is room for growth and learning, as HVAC technicians can specialize in several areas as they advance in their careers. They also work with cutting-edge technologies.
- Being a HVAC technician does not require a college degree. The courses take a fraction of the cost and time of a college degree, and are designed such that they can get in the field quickly.
- HVAC technicians can work and live anywhere because their services are needed everywhere.
- HVAC technicians make a difference in the environment and in people's lives. Their work aims at "improving the efficiency of HVAC systems and reducing the negative effects their operations have on the environment." They also help their customers to live comfortably and efficiently.