If you're exploring new career options, this year may be the ideal time to pursue a job as an HVAC technician. With the U.S. Bureau of Labor Statistics reporting the HVAC job outlook expected to grow 6 percent by 2032, it's never been a better time to consider entering this growing field.
The short answer is yes. With the right training, experience, and communication skills it's very possible to make over $100,000 per year as an HVAC tech. In 2024, the HVAC technician salary range for the HVAC trade was between $30 per hour, and $43 per hour depending upon certification and HVAC training.
The global HVAC systems industry is forecast to grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031. The market was valued at $218.32 billion in 2024 and is on pace to reach $338.62 billion by 2031.
The Future Looks Bright for HVAC Technicians
With the increasing complexity of HVAC systems and the need for preventative maintenance, skilled technicians are in high demand.
HVAC work is a hands-on skilled trade, so you need to be comfortable working with tools and equipment, and working inside people's homes. No matter whether you specialize in commercial HVAC or residential HVAC, a certified HVAC technician has a lot of opportunity to earn a good salary, and have good job security.
Job Security – HVAC service can't be exported. Service jobs have never left the U.S. like some other industries have, and they never will. Become a Millionaire – A lot of contractors are young millionaires because HVAC is an industry where it's possible to go from mechanic to millionaire in less than a decade.
Employment of heating, air conditioning, and refrigeration mechanics and installers is projected to grow 9 percent from 2023 to 2033, much faster than the average for all occupations.
Both HVAC technicians and electricians earn similar compensation, though the average annual salary for electricians is about $5,000 higher than that of HVAC techs. Both have a large disparity in pay between the highest and lowest-earning ten percent of professionals.
As of January 1, 2024, the production of high-GWP HFC refrigerants, such as R-410A, R-134a, and R-404A, has been reduced by an additional 30% of the baseline, which is on top of the 10% cut that took effect on January 1, 2022.
Should I wait until 2024 to buy a heat pump? It's not necessary to wait until 2024 to buy a heat pump. The California heat pump rebate program is currently available, offering financial incentives for homeowners who install energy-efficient heat pump systems.
Trane, an HVAC industry leader and innovator, has been named the top residential HVAC brand for the 10th time in a row. The designation comes from the 2024 Lifestory Research Most Trusted® HVAC System Study.
Yes, HVAC technicians can earn $100K a year, especially in the highest paying states or specialized fields such as commercial HVAC or system design. As service techs gain experience and move into higher positions or own their businesses, their annual pay can reach or exceed this threshold.
The future of HVAC includes a progressive trend toward coolant alternatives that are less harmful to the environment. The EPA phase-down of global-warming-potential high hydrofluorocarbon (HFC) coolants is in full swing. The EPA's goal is to reduce HFC production and consumption by 85% by 2036.
If your goal is to make six figures while working as an HVAC tech, it is definitely within reach.
Washington: Leading the Pack
Washington is the top state where HVAC technicians earn the most. The average salary here is around $63,283 per year. Factors contributing to this high salary include the state's high cost of living and the consistent demand for HVAC services due to varying climates across the state.
An HVAC technician's salary is higher than many other technicians in the U.S. According to the BLS (Bureau of Labor Statistics), The median pay in 2023 was $57,300 per year, with the average pay per hour being $27.55. The salary varies by state, employer, and one's experience level.
According to the Bureau of Labor Statistics (BLS), HVAC technician employment is expected to increase by 15 percent through 2026. The continuing growth of construction, both commercial and residential, is a factor in the projected growth, in addition to the increasing prevalence of service contracts.
Several HVAC manufacturers have officially declared upcoming price hikes for 2024, garnering attention as a new wave of increases takes effect. There is a noticeable industry-wide trend of manufacturers elevating the prices of equipment, parts, and supplies.
Largest steam and air conditioning supply companies worldwide 2022, by revenue. With a revenue of over 36 billion U.S. dollars, the Japanese company Daikin Industries had the highest steam and air conditioning supply revenue in 2022.
The U.S. HVAC systems market size is expected to grow at a rate of 7.4% from 2024 to 2030. Researchers predict a 6.6% growth rate for the HVAC industry from 2024 to 2029. The U.S. HVAC industry has about 114,000 businesses and has grown by 2.1% from 2019 to 2024.
California has the most HVAC jobs available, paying over $50,000 a year.
The national average salary for HVAC technicians in the US is around $48,730 per year, with the highest 10% earning over $77,920. Areas with high demand often offer salaries above the national average. This growth in income potential is a testament to the value of skilled HVAC technicians.