2018 was a great year as far as the U.S. economy was concerned. Sales of HVAC equipment remained strong, the unemployment rate stayed below 4 percent, and the GDP increased.

Average sales for HARDI members increased by 3.6 percent in December 2018, and the average annualized growth for the 12 months through December was 11.4 percent.

Some economists predict that the economy may slow a bit in 2019; however, manufacturers believe demand for HVAC equipment will remain high.

“This year got off to a 4.4 percent start, which looks pretty good when you realize it is being compared to a month [January 2018] that had a 19.4 percent gain.”

Across the nation, many contractors have prepared for the new year with plans of growth, improvement, and a bevy of changes to increase their businesses. Although they may be prepared, unknown factors exist, and contractors have questions as to what the year might hold.

The event, held at the JW Marriott in Austin, Texas, welcomed more than 300 first-time attendees, including 99 wholesale employees.

“October was another exceptional month for HARDI distributors,” said Brian Loftus, market research & benchmarking analyst, HARDI. “Cooling season began with 20 percent sales growth in May and now heating season is off to an impressive start.”

The report indicates that the HVACR market is primed for continued business growth. Reports for 2018 are at an all-time high, with 44 percent of respondents reporting a significant sales increase of more than 10 percent year over year; this is up from an already impressive 2017 record of 35 percent.

“The 9.8 percent annual sales growth is the best annual pace since eight years ago, when we began to move beyond the Great Recession,” said Brian Loftus, market research and benchmarking analyst, HARDI.

“The 9.8 percent annual sales growth is the best annual pace since eight years ago, when we began to move beyond the Great Recession,” said Brian Loftus, market research and benchmarking analyst, HARDI.