As the economy slowly recovers, recent data shows that HVAC companies and technicians are reporting better financial conditions and customer demand than at the start of the year. The 2023 second quarter PHCC Contractor Confidence Index Report revealed a significant improvement in business confidence for both HVAC technicians and companies, but it also surfaced ongoing challenges and areas of concern.
Read on to learn more about how HVAC conditions have improved in recent months, contrasting trends among larger providers versus smaller ones, as well as potential risks that could impact future operations.
Overview of The PHCC News and Survey Results
The PHCC (Plumbing-Heating-Cooling Contractors) recently conducted a survey to analyze the current trends in the plumbing, heating, and cooling now as opposed to the first three months of the year. The results of this survey provide fascinating insights into the practices and opinions of contractors in this field.
Some of the key findings from the survey include shifts towards new technologies, such as smart home systems and renewable energy. Additionally, contractors highlighted concerns with finding and retaining skilled workers in the industry. Overall, this survey provides a comprehensive overview of the opportunities and challenges currently facing the PHCC community.
Trending HVAC Conditions and Concerns
While roughly 62 percent of PHCC contractors anticipated normal to better sales in the future, 40 percent of them are not operating with full staff, employees, and technicians; down even further from 47.1 percent in the 1st quarter.
About 68 percent of respondents reported rising costs, and 40 percent of respondents noted delays in shipping materials. In HVAC industry news, top contractor challenges found in the report included:
- Finding & hiring trained and skilled employees for both plumbing & HVAC
- Inflation, lower ROI, high diesel prices, high costs for new construction and remodeling
- Increased operating costs due to increased cost of living and increase in material costs
- Difficulty getting equipment repaired on a timely basis
- Availability issues with materials and high/rising costs of insurance.
While labor shortages and rising costs continue to plague the industry, there is a generally positive sentiment amongst HVAC contractors resulting from improved conditions that can help pave the way for a strong close to 2023 and beyond.
For a detailed summary of the PHCC news and survey results, visit the PHCC website and be sure to check back for more HVAC industry news and updates.
