Steel Markets
Heating and Cooling Equipment Shipments Strong through November
Written by Brett Linton
January 15, 2021
November heating and cooling equipment shipments totaled 1.66 million units, up 36.3 percent from levels one year prior, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Total 2020 shipments through November reached 20.4 million units, up 6.3 percent compared to 19.2 million units shipped in the same period of 2019. As seen in the chart below, year-to-date shipments for water heaters and central air conditioners/heat pumps are at the highest levels seen in recent years.
As a three-month moving average (3MMA), total heating and cooling shipments were up 26.3 percent year-over-year, as shown in the chart below. This is the fifth consecutive month that 3MMA shipments have increased on a year-over-year basis. Due to the uptick in late-summer and fall, this is now the largest 3MMA annual rate of change in shipments seen in SMU’s limited history, surpassing last month’s high. Prior to September 2020, the previous record 3MMA annual rate of change was 16.6 percent in February 2014.
Residential and commercial storage water heater shipments increased 6.1 percent year over year to a combined 744,392 units in November; 727,589 units were shipped for residential use and 16,803 units for commercial use.
November shipments of warm air furnaces totaled 319,167 units, an increase of 10.5 percent compared to the same month last year.
Central air conditioners and air-source heat pump shipments were up 29.1 percent over levels one year ago to 593,998 total units; 346,023 air conditioners and 247,975 heat pumps were shipped in November.
The full press release is available on the AHRI website here.
Below is a graph showing the history of total water heater, warm air furnace and air conditioner shipments. To use its interactive features, view the graph on our website by clicking here. For assistance with either logging in or navigating the website, contact Info@SteelMarketUpdate.com.
Brett Linton
Read more from Brett LintonLatest in Steel Markets
Tampa Steel Conference: Two weeks to go!
With just two weeks to go, we have over 400 registered so far for the 36th annual Tampa Steel Conference. Join us and hundreds of industry executives at the JW Marriott Tampa Water Street from Sunday, February 2, through Tuesday, February 4.
Galvanized buyers see glimmers of optimism amidst the chaos
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.
Construction spending steady in November
Construction spending inched higher in November for a second straight month.
Steady architecture billings signal improving conditions
The November ABI decreased month over month but was still the third-highest reading of the past two years.
Fitch warns more tariffs will pressure global commodity markets
“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.