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Marketing to HVAC Equipment Manufacturers: Top Trends and New Opportunities

Posted by IndustrySelect on Monday, July 20, 2020

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3 MIN. READ

The HVAC industry is poised to become a $367.5 billion market by 2030. Although this sector is currently feeling the effects of COVID-19, there is a promising future for refrigeration and heating equipment manufacturers.

Marketing your products and services to these manufacturers is a viable strategy, but it’s important to understand the unique opportunities and challenges linked to COVID-19.

Sector Growth

According to MNI, the refrigeration and heating equipment sector experienced growth of 3.84% in 2019. It’s a sector that employs just under 95,000 people.

There are plenty of opportunities to explore if you offer services related to HR, payroll, hiring or training.

This sector is feeling the impact of COVID-19, but has a strong future outlook because office building and hotel construction projects are a major driver for demand.

Climate change and rising temperatures are also strengthening the global market.

New Challenges Related to COVID-19

The HVAC industry has seen some new challenges emerge in 2020:

• Delivering in-home installation and maintenance services is difficult due to social distancing measures.

• A new HVAC system can be a major up-front investment, and businesses are seeing their revenues drop.

• Demand could drop in the global market. A survey conducted in February 2020 found that 85% of SMEs in China would run out of cash within three months.

• Manufacturers like Whirlpool or Electrolux might see appliance sales drop as the economy stagnates.

• According to MNI, 18% of manufacturers in this sector import raw materials. Supply chain disruption, combined with tariffs, is resulting in price fluctuation and inventory challenges.

• Companies like Carrier Global Corp. that offer refrigeration transport services might see a drop in demand for these services.

These challenges are creating opportunities to sell a wide range of products or services. You can help refrigeration and heating equipment manufacturers offer safe installation and maintenance services with things like cleaning services, PPE equipment, training or a new communication strategy.

You can also offer services and products that will help manage price fluctuation and loss of revenues, including new sales tools like CRMs, inventory and supply chain management solutions, or patents for IP and new products that would open up new markets.

Trends and Opportunities

In spite of the current slowdown, you should know that this sector has a hopeful outlook:

• The fact that most major HVAC equipment manufacturers have a global presence (50% focus on international distribution, according to MNI) insulates them from economic shocks to some degree. Think about selling analytics solutions to identify new opportunities, shipping and inventory management services, and other global solutions.

• The need for energy-efficient systems is one factor driving demand in this sector. You can sell energy-efficient materials, IP, or new manufacturing equipment to help manufacturers develop more efficient products.

• There is a growing demand for automated building management systems that rely on the IoT to cut costs and manage indoor air quality and temperature. The Vertiv Group Corp. is a leading manufacturer in this sector, and more companies could decide to invest in new talents and new tech solutions.

• There are plenty of opportunities to grow by offering maintenance packages and service bundles. Sales management platforms, fleet management solutions and similar products could be interesting investments.

• Early research suggests that factors like humidity levels and ventilation could play a part in fighting airborne transmission of COVID-19. This could put HVAC manufacturers in a unique position to make commercial and residential buildings safer. If you can help with research or offer products that would support a brand-new health-related building management service, you should reach out to refrigeration and heating equipment manufacturers.

IndustrySelect provides comprehensive profiles of 500,000 industrial companies and one million executives, including HVAC companies. Powered by MNI, trusted industrial data compiler since 1912,  company profiles are verfied and updated in real time by a 80-person research team. See a sample profile

To learn more about how you can use IndustrySelect to generate reliable sales leads for your company, visit our website and try out a free demo.

Looking for HVAC suppliers? Search, source & quote HVAC suppliers for free on IndustryNet

 

 

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