Why HVAC Contractors See Cannabis as a Promising Market
4 MIN. READ
Cannabis is one of the fastest-growing industries in the U.S., projected to reach an astounding $90.4 billion by 2026. Cannabis facilities depend heavily on HVAC equipment and contractors, and involve complex HVAC engineering, a requirement that contractors can take advantage of to expand their own service offerings. The cannabis industry is still in its early development and HVAC contractors, who seize developing opportunities to get involved and increase their revenue, can expect a promising future.
Cannabis market growth
The pro-cannabis movement has been sweeping across the nation for the past several years. Several states and territories have placed proposals on ballots to decriminalize and or legalize cannabis. This trend is gaining traction, and more states are in line to go green.
Explosive expansion. So far, 18 states have legalized recreational cannabis, and a total of 27 have decriminalized the possession and use of small amounts of cannabis. Public sentiment and pressure on legislators to legalize cannabis are expected to continue to expand as several states are vying to get proposals on the ballot.
Banking challenges. The cannabis industry is here to stay, but it leads to several challenges for providers in the banking realm. Since marijuana is a controlled substance on the federal level, many financial institutions hesitate to work with cannabis businesses for fear of reprisal from federal regulators.
Critical timing. Companies that establish themselves now have a greater chance of success and could be positioned to dominate the market when federal legalization happens. This means companies should take steps to establish footings in local markets.
Installing HVAC for cannabis
As the cannabis industry grows, so do their needs for equipment and services. This is where HVAC contractors come in. The demand for experts who can install HVAC for cannabis use is growing, and opportunities are everywhere.
HVAC engineering. Cultivating cannabis is an intricate process. The plants need precise and specific conditions to thrive. Cannabis facility design requires close attention to the HVAC systems. Growers must acquire and install equipment that suits the size of the facility and the number of plants growing there.
Environmental conditions. Growers must control airflow and humidity and monitor growth systems to cultivate healthy and potent plants. HVAC equipment, such as air handlers, split systems, and packaged units, needs to provide exact conditions for the living ecosystem it serves.
Energy efficiency. Advanced equipment for running a cannabis facility consumes a great deal of energy. Contractors and growers must evaluate the efficiency of these units to keep utility prices as low as possible.
Maintenance. Sophisticated HVAC equipment inevitably requires repair and maintenance. Regularly scheduled maintenance keeps these units running at maximum efficiency. It includes changing filters and belts and ensuring that bearings and compressors stay clean and lubed.
HVAC plays a vital part in the indoor cannabis industry. It can make the difference between a flourishing harvest and a successful business, or a weak harvest and a failed business. Knowing this, HVAC contractors can capitalize on these circumstances and expand their skill set.
How HVAC contractors can enter the market
Interested HVAC contractors benefit from understanding and learning as much as possible about the cannabis industry. Staying aware of the latest trends and needs of HVAC for cannabis facilities requires research and training.
Get training and do research. Contractors must approach the HVAC cannabis industry in a specialized way. It is not as simple as just installing a heat pump and exhaust fan unit, as you might in a commercial building. You must install HVAC for cannabis facilities to fit exact engineering specifications. Do as much research as possible and get advanced training in this field.
Get established. HVAC contractors can establish themselves within this niche market by creating expert case studies. Share specific studies of recent installs or projects to show potential customers what you can do. It demonstrates that you take your business seriously and can provide exceptional support.
Invest in relationships. By forming partnerships in the industry, you can ensure long-term opportunities. The cannabis industry is here to stay, and it is only getting larger. So establishing partnerships with providers can benefit both parties in the near and long term. HVAC contractors should network at cannabis industry events and position themselves as leaders in the sector.
You can form partnerships with other industry leaders. Working with manufacturers and suppliers of HVAC equipment and supplies is critical to providing the best products and the best rates.
Partner with Raiven
Raiven can help you create a supply chain capable of handling new contracts and opportunities. It can optimize purchasing for your business. You can find the best HVAC products from top suppliers at low negotiated prices, including industry-leading suppliers like Carrier, Ferguson, Grainger, Graybar, and others.
Raiven's digital buying assistant will ensure that you get the best deals from your go-to recognized suppliers, and you will have valuable insight into product availability and delivery schedules. This will help make your purchasing process more efficient and streamlined.
Raiven also has a robust digital Marketplace that enables your employees to make all their purchases from one platform. Saving them time and money as they take advantage of the many HVAC projects in the booming cannabis industry.
To learn more about how Raiven can benefit your HVAC company, contact Raiven today.