SMACNA unveils 2024 shifts in sheet metal, HVAC industry

by Christopher Brinckerhoff | 24 January 2024 6:00 am

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The Sheet Metal and Air Conditioning Contractors’ National Association (SMACNA)[2] released a video detailing major shifts happening across the sheet metal and HVAC industry, and the economic climate contractors will face in 2024.

In the video, Anirban Basu, chief economist at SMACNA, shares his insights and forecasts about the economy and its impact on the construction industry.

Topics include:

• Growing industry employment: Given the elevated numbers of construction job openings presently and an abundance of megaprojects set to break ground, industry employment is poised to expand in 2024.
• Growth opportunities in mega-projects: Manufacturing-related mega-projects will surge in 2024 across the country as a result of re-shoring in supply chains.
• Mixed outlook for contractors: Contractors focused on public works are poised for a successful year as a result of increased funding from infrastructure legislation, while those working on residential projects will likely see a shore up of projects due to the state of the real estate market.
• Economy: The economy’s focus on reshoring supply chains will remain prominent alongside expectations for increased publicly financed construction in 2024.

In the video, Basu reviews additional factors to consider, and challenges ahead for sheet metal and HVAC contractors.

Click here to view SMACNA’s video.[3]

Source URL: https://www.metalconstructionnews.com/news/industry-news/smacna-2/

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