The HVAC industry, however, is not unique to these price increases.
Over the last several years, we have regularly seen manufacturer price increases once per year, but COVID-19 has especially hit the industry hard, as many of us have witnessed price increase announcements of major suppliers and brands at least once per quarter. Many consumers have chosen this past year to make investments in their home, one of them being upgrading their HVAC equipment. This has led to an increased demand for effective indoor air quality and home comfort systems. With the recent COVID-19 pandemic, we’ve seen many people transferring to remote work, or spending more time at home in general. The reasons for the increases are due to a multitude of factors, including raw material costs, increased labor rates, fuel and transportation costs, and changes to processes. Many manufacturers have made these announcements public, with increases ranging anywhere from 3% up to close to 20% Many HVAC manufacturers have already announced price increases going into 2022, making headlines as another round of price increases go into effect.Īcross the board, we are already seeing manufacturers raise the cost of equipment, parts, and supplies prices.