2. New Construction Needs Contractors
Revenues and profits for electrical contractors, plumbers and A/C contractors begin with a robust building industry. An encouraging sign was Dodge’s Momentum Index of for December 2016, the 11th positive month during the past 12.
Total 2017 residential, non-residential and non-building construction is forecast to be $713 billion, or a 5% increase. Separate the 3% decline expected in non-building (public utilities, etc.) projects and the increase for residential and non-residential is 8%.
Dodge forecasts that construction of stores and shopping centers will increase 6% to $19.6 billion, following a 5% decrease during 2016.

3. Home Improvement Help
Contractors who depend on the residential remodeling market were certainly pleased with the Leading Indicator of Remodeling Activity (LIRA) from the Joint Center for Housing Studies of Harvard University for 2017, of a 6.7% increase to $317 billion.
The Joint Center is also forecasting that the average home improvement spending per homeowner will increase from $2,970 for 2015 to $3,090 by 2020 and $3,250 by
Homeowners, 55+ will continue to have the highest share of home improvement spending, at 56.3% for 2025, compared to 36.1% for homeowners, 35–54 and 7.6% for homeowners, 35 and younger.

4. Electrical Contractor Profile
According to Electrical Contractor Reader Profile Study, most contracting firms were considered small, with 72% having 1 to 9 employees and 68% with annual revenues of less than $1 million.
A concern for many of the trades, including electrical contractors, is the aging of the workforce, and the Electrical Contractor data supports this trend, with 67% of survey respondents 55 and older, compared to 60% in the 2012 and surveys.
The 2016 study also found that power and lighting was the #1 type of work electrical contractors performed, at 94%, with 73% in automations/control; 68%, power quality; 57%, sustainability; and 57%, communications systems/connectivity.

5. New Opportunities for Plumbing Contractors
As of November 2016, there were more than 116,000 plumbing contractors in the US. As residential and non-residential construction has increased, so has annual growth for plumbers, increasing 4% annually during the 2011–2016 period.
A growth sector for plumbing contractors is residential and commercial consumers’ demand for more efficient and smaller hot water technology, which is forecast to increase substantially the tankless water heater market from its current 15% share.
As more consumers want cleaner water for drinking and other household uses, another plumbing sector that could generate increased revenues is water treatment services.

6. A/C Sector Generally Satisfied
The Indoor Environment & Energy Efficiency Association’s Contractor Comfort Index was 78 for January 2017, increasing from 72 for December and 2 points more than January 2016’s index of 76.
Many in the industry are expecting a boost from the Trump administration’s intention to de-regulate environmental standards and its plans for a $1-trillion, 10-year revenue-neutral energy infrastructure program.
The biggest concern for many in the HVAC industry is a future labor shortage, as a result of many older contractors. Younger adults are only joining the workforce at a 50% replacement rate.

7. Advertising Strategies
According to electrical contractor industry sources, more contractors, even those with small companies, are seeking more work outside their immediate metro area, which gives you the advantage of showing them how far your station’s signal and ad messages reach.
Although the EPA’s official Fix-A-Leak Week is during March, local plumbing contractors can use this idea to promote how repairing minor leaks saves water. They could offer a free “minor leak” inspection/repair to find and recommend more major repairs.
Home services contractors can potentially generate new business from Hispanic- American homeowners and business owners, as, homeowners in particular, will increase their home improvement expenditures from $16 billion during to $25 billion by 2025.

8. New Media Strategies
Plumbing contractors can also use the EPA’s Fix-A-Leak Week promotion on social media, with short videos of where minor leaks may be hiding in a home or business and sharing some of the interesting stats on the EPA’s Fix-A-Leak Week Fact Sheet (PDF).
Electrical contractors should use social media to promote the value of the trade among younger adults, with video testimonials from their apprentices and newly licensed younger electricians as well as income potential and the low cost of a trade education.
A/C contractors are more likely to engage with customers and potential customers on social media with information that shows how quickly the cost of a new, more-efficient A/C unit will be returned by lowering homeowners’ and business’ electric bills.