The HVAC industry is experiencing increased prices for HVAC systems and services, including HVAC units, parts, repairs, and replacements.
Rising prices in products and services are being experienced across many industries worldwide, including the HVAC industry. The HVAC industry is experiencing increased prices for HVAC systems and services, including HVAC units, parts, repairs, and replacements. Continue reading for more information on what you need to know about HVAC price increases.
Why Are HVAC Prices Increasing?
One of the major reasons for HVAC price increases is global supply chain shortages, which have had a domino effect on stopping and reducing the production and transportation of essential HVAC materials and components. Along with supply shortages and increased demand for HVAC supplies, materials, and services, another reason for increased pricing for HVAC systems and services is due to labor shortages. Between increased demand and labor shortages within the HVAC industry, qualified HVAC technicians are spread thin, resulting in increased wages and longer service times. However, as time progresses and the global pandemic, labor shortages, and supply chain issues are resolved, rising prices in HVAC systems, services, parts, and materials will gradually decrease.
Increased Prices for Raw Materials
Within the past year, the cost of raw materials has increased significantly.
Listed below are some of the materials that have experienced shortages and price increases within the HVAC industry:
- Copper: Refrigerants are typically stored in copper piping, and copper wiring is useful for making motors and control wiring.
- Steel: Majority of your HVAC system is constructed of steel, including the unit, ductwork, drain pans, and much more.
- Aluminum: Aluminum can be used to make fan blades and evaporator coils.
- Lumber: Many HVAC systems and equipment are transported on wooden pallets. Lumber is also used to set and position ducts within a structure while installing an HVAC system.
How Can You Prepare for HVAC Price Increases?
Considering that the HVAC industry is experiencing supply shortages, labor shortages, and increasing prices, having understanding, patience, planning, and communication will be key. It’s important to understand why the HVAC industry is experiencing price inflations so that you can maintain patience and communication with HVAC companies and technicians as you may be experiencing higher service times and costs. This is especially true if your HVAC requires a specific part ordered, extensive repairs, or a replacement. By scheduling and performing routine maintenance before your HVAC system fails or malfunctions, you can save yourself time and money on costly and time-consuming HVAC repairs and replacements.
Crockett Facilities Can Help!
Crockett Facilities Services, Inc. (CFSI) is committed to helping building owners, property managers, engineers, and facility professionals navigate the post-COVID-19 environment. We can develop a cost-effective, customized program for your building that will mitigate the potential health risks of COVID-19. Click Here to Request a Quote!
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