Energy Consumption Goals Drive Maintenance Expenditure

U.S. home improvement and maintenance expenditures continue to see strong growth performance with the last quarter reaching record-breaking growth, says Jobber, a provider of home service management software. Its ‘Home Service Economic Report: Special HVAC Edition’ shows year-over-year revenue growth in the home service category overall was up 19 per cent in the first quarter of 2022. The HVAC equipment market, valued at $130 billion in 2021, is projected to reach $206 billion by 2030. A number of factors have contributed to a boost in recent growth and market forecasts. Government regulations to reduce energy consumption and carbon emissions from HVAC systems are creating homeowner demand for newer systems and more than 50 per cent of U.S. homes are 40+ years old, creating a strong market for the repair and replacement of HVAC systems and other components.