Industry News

Recipients Awarded $2,500 Each Toward HVACR Careers; Fieldpiece to Award Additional $10K at 2024 SkillsUSA National Leadership & Skills Conference

Fieldpiece Instruments, a leader in test instruments and tools for HVACR professionals for over 30 years, is proud to announce the winners of the third annual #MasteroftheTrade program. This year, six deserving students have been selected to receive $2,500 each to fund their continued education in the heating, ventilation, air conditioning and refrigeration (HVACR) trade or the option of an in-kind tool donation to jumpstart their careers.

Administered through SkillsUSA, the #MasteroftheTrade program aims to bridge the talent gap in the U.S. labor market for HVACR technicians by providing financial support to individuals pursuing a future in the industry. The winners of this program demonstrate exceptional skill, passion and dedication to their craft, embodying Fieldpiece’s spirit of excellence.

“We are thrilled to give back to our industry by awarding tuition or tools to these up-and-coming HVACR professionals,” said Tony Gonzalez, director of training at Fieldpiece Instruments. “There is a common thread of curiosity, problem-solving skills, understanding of craftmanship and desire to embrace challenges among the selected recipients that ensures a bright future in HVACR. Congratulations to this year’s winners!”

The six accomplished SkillsUSA students selected to receive the 2024 #MasteroftheTrade award are:

• Cole Kelly from Billerica, MA
• Colton Rentschler from Sinking Spring, PA
• Cadin Blais from Watertown, SD
• Mohamed Deyab from Harlingen, TX
• Peyton Hoenig from Asheboro, NC
• John Chaney from Knoxville, TN

Fieldpiece Instruments will also award $10,000 to the top-ranking high school and college/postsecondary students in the HVACR category at the SkillsUSA National Leadership & Skills Conference in June.

Fieldpiece Instruments first introduced the #MasteroftheTrade program in 2022 to address the growing need for skilled HVACR technicians. The program has since become an integral part of the company’s commitment to supporting education and workforce development in the HVACR industry.

For more information, please visit the #MasteroftheTrade program webpage.

Over 50% of Contractors Cite Labor Shortage, Overhead Costs, and Supply Chain Constraints as Biggest Ongoing Challenges

ServiceTitan, a leading software platform built to power the trades, today released its second annual Commercial Service Report, highlighting current trends and market sentiment for the commercial industry in 2024. The report surveyed over 1,000 commercial contractors across various trades and found that in the face of economic challenges, contractors remain resilient and are doubling down on sales and marketing while adopting new technology to help drive customer and business growth.

“Commercial contractors are essential to building and maintaining our critical infrastructure across North America – they keep our businesses, schools, hospitals and more up and running at all times,” said Alex Kablanian, General Manager of Commercial & Construction at ServiceTitan. “These contractors have displayed incredible resiliency, navigating formidable economic challenges in recent years. Adopting new technology has played a significant role in empowering them to accelerate and achieve profitable growth in their industry. The commercial contractors who are harnessing the power of software and innovation now have the tools they need to reach new heights and greater potential than ever before.”

ServiceTitan’s findings provide a unique perspective on the industry’s performance while highlighting key developments shaping the path forward.

Contractors focus on new growth in 2024

Despite market uncertainties and macroeconomic challenges, 39% of commercial contractors expressed optimism for 2024 – a 17% increase compared to last year’s study, when only 22% of contractors had a positive outlook for 2023.

While commercial contractors remained resilient despite economic challenges in recent years, a significant majority of contractors’ revenue (71%) either decreased or stayed the same in 2023. In light of this, two-thirds (67%) of commercial contractors are focused on growing revenue in 2024, followed by improving cash flow (30%), optimizing processes (33%), and retaining customers (26%).

Supply chain disruptions expected to persist

For most contractors, ongoing supply chain challenges make sourcing parts (53%) and equipment (34%) difficult. The report also highlights how the effects of supply chain disruptions extend to project timelines—only 14% of commercial contractors delivered more than 90% of their projects on time. Material lead time also increased for 52% of commercial contractors; in comparison, equipment lead time increased for 62% of commercial contractors.

In assessing how contractors navigate these challenges, the results indicate that nearly two-thirds of contractors (63%) keep inventory on hand, and roughly a third of businesses (37%) order supplies as needed. Further assessment of supply chain management reveals that 50% of commercial contractors order directly from the supply house, with the rest split evenly between vendor and manufacturer purchases.

Amid labor shortages, contractors increase technician salaries

Labor shortages (53%) and overhead costs (50%) are cited as the primary risks to achieving contractors’ 2024 goals, with economic recession (49%), increase in material prices (35%), and access to working capital (26%) rounding out the top five risks.

Just as ongoing labor shortages make it challenging for contracting businesses to find skilled workers, the shortage of talent and the increased cost of living make salaries a determining factor in attracting and retaining technicians. In response to these trends, 73% of respondents still plan to increase technician salaries this year.

Software adoption accelerates

Current trends and market sentiment point toward software as a leading solution to streamline commercial contractor operations and improve efficiencies without increasing overhead. In fact, the average commercial trade business uses 4-6 software providers, with a high adoption rate (70%) of Field Service Management software. Correspondingly, a significant 43% of businesses plan to increase their investment in sales and marketing activities in 2024.

With technology becoming increasingly essential for contracting businesses, it is key to take full advantage of the capabilities and innovate accordingly. Based on the survey, there is room for improvement—while 30% of survey respondents identified improved cash flow as their top goal, 20% of contractors still take more than a week to send invoices, and 33% of customer payments are more than one week late.

To review the full findings and key takeaways, download ServiceTitan’s Commercial Markets Report here.

About the research

This research was conducted by Thrive Analytics on behalf of ServiceTitan, polling more than 1,000 commercial service contractors representing a variety of geographical regions, business growth stages, and revenue levels. This research is for informational purposes only and ServiceTitan provides no assurances (express or implied) with respect to the accuracy of the survey data.

Leading manufacturer donates $10,000 to Home Repair Services to support plumbing repair and water heater replacement for mobile home owners in Kent County, Michigan

Bradford White Corporation, an industry-leading manufacturer of water heaters, boilers and storage tanks, announced today a charitable donation of $10,000 to Home Repair Services (HRS) of Kent County, a nonprofit organization that offers income-based services to vulnerable homeowners in the Grand Rapids, Michigan area.

The donation will be directed to the repair program, one of HRS’s three key organizational pillars. The program is designed to address and resolve health, safety and sanitation concerns in area homes, such as water heater repair and replacement.

“This funding will help provide essential hot water to improve the health, safety and sanitation of homeowners in Kent County, many living on fixed incomes or facing any number of hardships,” said Rebecca Owens, senior manager of communications for Bradford White. “We’re proud to be part of this commitment to assisting families in the area live more comfortably in their own homes.”

Home Repair Services completes over 2,000 critical repair jobs for low-income families each year, with over 150 of those repairs dedicated to mobile homeowners living with an average income of $21,929. There is no dedicated municipal funding to support these services. This donation will be used to address urgent water heater repairs, enhance the overall quality of housing in the county and create manageable, safe, and sustainable environments for homeowners and their families.

“Bradford White’s donation will make a tangible difference to Kent County mobile home owners in need,” says Joel Ruiter, executive director at Home Repair Services. “Over the last four years our organization has helped 425 homeowners acquire new water heaters, ensuring critical access to hot water. Thanks to this donation, we’re confident we’ll be able to extend our efforts to even more families in the region.”

The Mini-Doc Showcases Midea’s Cold-Climate Heat Pump System and the Transformation of a Residential Facility in Alaska

Midea America, in collaboration with Warner Bros. Discovery, is proud to present “Project Homestead,” an inspirational mini-documentary showcasing the transformative renovation of Willow Ranch. Willow Ranch is a residential facility near Willow, Alaska operated by Hope Community Resources, the foremost provider of support services to adults with intellectual and developmental disabilities, traumatic brain injuries, mental health challenges and complex medical conditions in Alaska. Project Homestead highlights the installation of various Midea home appliances and its innovative, energy-efficient, cold-climate heat pump system, which will provide a warm haven for a deserving household for years to come.

An Inside Look into Project Homestead

In this heartwarming film, viewers will witness the transformation of a house on the Willow Ranch property, home to four residents supported by Hope Community Resources. The collaborative efforts of Midea, Warner Bros. Discovery, Hope Community Resources, local contractors and volunteers provided a life-changing, all-expense-paid home renovation. Willow, Alaska, with its extreme climate, serves as the perfect backdrop for this project, underlining the importance of warm, energy-efficient living environments. Midea was thrilled to be involved in this project to showcase its desire to make energy-efficient heat pump technology more accessible across all communities.

Hosted by Jeff Thorman, seasoned general contractor and the face of Home RenoVision DIY, the film explores how home renovation can positively impact the lives of people in need.

“I am thoroughly impressed with the exceptional performance of Midea’s cold-climate heat pump system, especially in the challenging harsh winter conditions of Alaska,” expressed Jeff Thorman. “Having been in the home renovation industry for 25 years, I have a deep appreciation for innovative technologies that not only provide essential comforts but do so in an energy-efficient and cost-effective manner. Midea’s system is a testament to what modern engineering can achieve – delivering reliable heating even in extreme cold, which is a game-changer for regions like Alaska.”

Midea’s Heat Pump System

Midea’s cold-climate heat pump system can deliver efficient heating and cooling in all American climates, even northern regions during harsh winters. While heat pumps historically have a reputation for underperforming in temperatures below 40 degrees Fahrenheit, in recent lab testing sanctioned by the U.S. Department of Energy as part of its Cold Climate Heat Pump Technology Challenge, Midea’s cold-climate heat pump system achieved 118% of rated capacity heating output at -15 degrees Fahrenheit – debunking the myth that heat pumps only work in mild climates and proving that heat pumps are the HVAC systems of the future, everywhere. This also comes at a time of extreme demand for cost-effective and energy-efficient options, with the supply and transportation costs of fossil fuel in Alaska continuing to rise.

“Midea is at the forefront of heat pump innovation, designing contractor and user-friendly systems that are making this modern technology accessible for all,” said David Rames, Senior Product Manager, Midea America Corp. “Our commitment to innovation and diverse solutions reflects our dedication to making a positive impact on everyone who needs high performing, highly efficient comfort solutions. The efficacy of our heat pump system in Alaska – especially for residents in need – is the ultimate proof and something in which we take immense pride.”

Production units of Midea’s forthcoming cold-climate heat pump system are slated to be available in the summer of 2024.

Additional Midea Appliances

Beyond the Midea cold-climate heat pump system, the renovation also featured the installation of other Midea home products and technologies intended to enhance the comfort and well-being of the residents: a refrigerator, air fryer and oven. Midea’s SmartHome application and technology will also allow Hope Community Resources to control and monitor operation remotely and provide useful information regarding usage, condition and energy consumption.

For more information, please visit midea.com/us.