Coronavirus changed everything: the way we work, the way we manage our projects and finally, the way we think about future investments. But, how did it exactly impact HVAC companies? Learn about the short-term and long-term impacts of coronavirus and the possible future of the whole sector!
We have recently talked about the challenges and the upcoming trends in the HVAC industry. However, these topics would not be complete without one crucial aspect that has heavily changed the sector's reality. Of course, we mean the coronavirus outbreak!
Has the reality of your company changed because of COVID-19? Since it has already been a year since the start of the pandemic, we can see some changes in the market from both customers and companies. But what exactly? Let's have a look!
Before we start with the long-term impact analysis and predictions for the future, let's go back to the very beginning. Do you still remember the first weeks of the global pandemic? You probably felt unsure and helpless regarding all the sudden changes. If you were a business manager, these feelings would have multiplied as the company's profitability and future were at stake.
When it comes to the short-term impact that the pandemic had on the HVAC sector, we can distinguish three main points:
Decline in sales
Interrupted supply chain
However, since the short-term effects did not heavily impact the sector's future, we prefer focusing on the more significant long-term effects.
Long-term effects are the ones that change the reality of a sector permanently. Sometimes, they are only visible after some time. When it comes to HVAC and coronavirus, we can distinguish three main long-term effects.
High demand on air-cleaning devices
Coronavirus spreads through the air, especially fast indoors and in poorly ventilated spaces. Since a large part of our society is now vaccinated, the risk of getting infected inside the buildings decreases. However, the proper safety measures are still at a premium.
That is why the first of the coronavirus outbreak's long-term effects might be the rise in popularity of air-cleaning devices. For example, on the market, you can get HEPA filters (high-efficiency particulate air) that can stop particles the size of SARS-Cov-2.
Along with air-clearing devices, humidifiers are becoming more popular. It is because of the research, which proved that humidity of 40%-60% helps significantly limit the spread of the virus. Unfortunately, the older HVAC appliances might find it difficult to achieve this level of moisture.
What does it all mean to you, an owner of an HVAC company? The popularity of modern devices that offer clean and adequately humid conditions seems to be a strong trend in the upcoming years. The technicians are still in the phase of inventing new devices, but it is essential to stay updated, follow the trends and offer the best service on the market as soon as possible!
Strong interest in modern, “smart” devices
Who wouldn’t want to have a smart AC that independently controls and adapts the temperature to your needs or can be managed from a mobile phone? The trend analysis in HVAC shows that the ‘20s might become the era of digitalisation and shift towards innovative solutions, like the Internet of Things or Artificial Intelligence.
The owners of HVAC companies already feel the upcoming change. In the 2020's research, among sixty eight HVAC companies, more than 80% of respondents admitted that they felt the need for the new marketing strategies offering more digital solutions. A new marketing strategy means not only more innovative technologies included in the offer but also more online actions to attract new customers.
The experience of lockdown did not only change the buyers' behaviour! It changed the reality of the HVAC companies as well. When we were shut at our homes, many aspects of our lives moved online, relying more and more on technologies. For example, training for new employees, team management and maintenance processes were often required to be done remotely.
A project management platform can solve challenges caused by online team management. Such software connects all employees in the company, streamlining communication and processes inside the company. It is beneficial especially when employees have to work in different places or on various projects due to the coronavirus changes.
Importance of climate change
If you are up-to-date with our blog, you probably noticed that we always highlight the importance of environmental changes. We need to mention it here as well since the global pandemic and extreme weather conditions last year made us realise how closely climate and health are related.
Dr Aaron Bernstein, Director of Harvard Chan C-CHANGE, stated that "The separation of health and environmental policy is a dangerous delusion. Our health entirely depends on the climate and the other organisms we share the planet with. We need to bring these communities together."
Luckily, the market strongly relies on customers' needs, and their preferences are slowly changing. Clients indeed want to invest in modern, intelligent technologies but, at the same time, they want to feel that their devices do not contribute to global warming. That is why companies are often pushed to seek environmentally friendly solutions that do not harm the environment.
You probably wonder if these changes are permanent. We would love to state that with 100% certainty, but unfortunately, we cannot. Nowadays, the world is changing extremely fast, and with it trends, challenges and opportunities on the market.
Unpredictability is another strong post-COVID effect on the HVAC industry. In the research mentioned above, more than 90% of respondents replied that a big challenge for them was the uncertainty about the economy and the future of the sector. Is there any light in the tunnel?
According to predictions, the HVAC sector is currently in a good position, with a projected constant growth in the upcoming years. The employment analysis is optimistic and new trends give an opportunity for significant market growth.
When it comes to predictions, we can already observe some emerging trends that are supposed to solve COVID-19 effects. For example, companies are starting to rely more on online tools, such as project management solutions that support team management, improvement and automation of processes. Also, they try to attract new customers by offering modern devices.
How about you? Did you know about the effects of the coronavirus outbreak? Has any of them affected your company?
For the whole construction, the experience of the global pandemic, lockdown, uncertainty and postponed investments was not easy. However, with the help of digital management solutions, you can overcome these difficulties and manage your projects better!
If your company faces some specific, individual challenges or you want to learn more, do not hesitate to contact us! Our specialists will be able to tell you all about project management solutions, suitable for your company!Learn more!
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