The HVAC industry is experiencing rapid growth and is expected to generate $150 billion in annual revenue and employ over 1.5 million people in the U.S. Businesses throughout Michigan have to make critical decisions on vital commercial HVAC partnerships in 2024 as demand soars in an industry without a company securing more than 5% of the market. Expert HVAC partners will provide elite service and trustworthy feedback to keep businesses modern, efficient, and sustainable while guiding great choices throughout the fiscal year.

National Commercial HVAC Demand

The demand for HVAC systems in the commercial end-use sector is anticipated to witness the fastest growth rate of more than 7.0% from 2023 to 2030. The growth of the commercial segment can be attributed to the rapidly expanding real estate sector in the U.S., particularly commercial spaces, such as malls, hotels, airports, and offices.

Commercial HVAC Growth in Michigan

The market in the Midwest region of the country accounted for the maximum revenue share of more than 22.4% in 2022. Illinois, Michigan, and Ohio in the Midwestern part of the U.S. have the presence of a large number of manufacturing units. Therefore, the demand for commercial HVAC systems in the region is high, with significant growth expected through 2030.

Expanding Commercial Real Estate Sector

Following the 2020 COVID-19 pandemic, coupled with an evolving economy, the commercial office market has declined throughout the United States. However, employment growth is leading experts to predict a continued rebound in leasing activity starting in 2024. Commercial HVAC partnerships will become critical for commercial spaces that will accommodate the return of office workers and new construction that requires efficient, sustainable systems. Commercial real estate investment activity will trend up in the second and third quarters of 2024, with a hybrid working structure becoming standardized, but this trend may be hinged as uncertainty remains surrounding interest rate projections.

Need for Long-Term, Trusted Relationships

Relationship-focused strategies have shifted from transactional short-term solutions to long-term reliability from commercial HVAC and refrigeration professionals. This trend is guided by customer experience, service-driven demands, and consultation requests to make calculated business decisions, encouraging service providers to deliver quality and supply expert feedback. For customers, long-term reliable partnerships lower costs and provide proactive service, which can extend the life of their HVAC and refrigeration systems.

2024 Growth Statistics

• Over 145,000 HVAC companies in the U.S. across commercial, industrial, and residential segments.
• HVAC employment increased by 2.8% from 2018-to-2023.
• Overall HVAC industry growth is expected at a 5% rate through 2028.
• HVAC technician employment is projected to grow 5% through 2031.

Demand for HVAC Partnerships

Relationship-focused strategies have shifted from transactional short-term solutions to long-term reliability from commercial HVAC and refrigeration professionals. This trend is guided by customer experience, service-driven demands, and consultation requests to make calculated business decisions, encouraging service providers to deliver quality and supply expert feedback. For customers, long-term reliable partnerships lower costs and provide proactive service, which can extend the life of their HVAC and refrigeration systems.

Partnering with RMS

Sustainable, trustworthy partnerships drive the RMS team to deliver expert HVAC and refrigeration services throughout Michigan.

• Climate-controlled storage solutions.
• Commercial HVAC & refrigeration services.
• Innovative, sustainable & efficient results.

Valuing great relationships provides optimal outcomes, and RMS understands the importance of installing high-quality HVAC and refrigeration systems that meet your needs. Our team of experts provides customized solutions that optimize your units and implement cost-reducing energy efficiencies.