A simple walk down your local grocery aisles will yield today’s truth: everyday items are in short supply and rising in price. The same economic truth further applies to the HVAC industry, which has been battling supply chain issues and labor shortages since the break of the COVID epidemic in 2020. Many HVAC manufacturers have already increased their prices between 3-20% to match the rise in costs in the last year, and we are trending towards another wave of price increases in 2022. Factors leading to these increases include raw material costs, labor rates, and the skyrocketing price of fuel and transportation.
With an increase of our population moving towards a work-from-home environment, employees are running their HVAC systems harder than ever. HVAC companies are seeing an increase in service calls as the systems are being run continuously and have not been adequately maintained. Most HVAC manufacturers recommend routine maintenance to be performed on your air conditioning system at least twice per year for optimal system health. The demand for repair parts and new system replacements have simply exceeded the ability for these manufacturers to supply.
Here are just a few of the companies that have publicly announced an increase in rates for 2022:
CHARLOTTE, N.C. — Carrier, which manufactures products under the Carrier, Bryant, Payne, and International Comfort Products brand names, announced a price increase of up to 9% on North American residential, light commercial, commercial applied, and HVAC parts and supplies effective April 11, 2022.
DAVIDSON, NC — Trane Technologies’ Commercial and Residential HVAC businesses announced Nov. 15 a price increase of up to 12% on select applied and unitary heating, ventilating, and air-conditioning (HVAC) equipment for Trane®, American Standard Heating & Air Conditioning®, Trane®/Mitsubishi Electric, RunTru®, and Ameristar® equipment. Some items may be subject to an additional increase.
The price increase for residential products will take effect on products that ship on or after January 1, 2022. The price increase for commercial products will be effective January 15, 2022.
At Total Air Solutions, we value our relationship with each of our customers and have always prided ourselves on providing honest solutions for HVAC needs. The past couple years have been unprecedented, and we appreciate the loyal patronage of our customers as we have acclimated to the changing economy. For questions regarding the impact if these rate increases, or to schedule your routine system maintenance, please call 888-426-1770.
Total Air Solutions, March 29, 2022.
Author: Lauren Marshall, Marketing Manager