Steel Markets
Heating and Cooling Equipment Shipments through February
Written by Brett Linton
March 16, 2021
February heating and cooling equipment shipments declined 9.3% from January to 1.68 million units, but were up 10.4% from levels one year prior, according to recent data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). This is the ninth consecutive month that shipments have increased on a year-over-year basis. Recall that late 2020 saw record-high levels of water heater and central air conditioner/heat pump shipments.
As a three-month moving average (3MMA), total heating and cooling shipments rose 13.9% year over year, as shown in the chart below. This is the eighth consecutive month that 3MMA shipments have increased on a year-over-year basis. Note that the last four months of 2020 saw the largest 3MMA annual rates of change in SMU’s limited history, reaching a record +26.3% in November. Prior to 2020, the previous record 3MMA annual rate of change was 16.6% in February 2015.
Residential and commercial storage water heater shipments decreased 2.8% year over year to a combined 739,948 units in February; 721,979 units were shipped for residential use and 17,969 units for commercial use.
February shipments of warm air furnaces totaled 306,219 units, an increase of 49.5% compared to the same month last year.
Central air conditioners and air-source heat pump shipments were up 14.1% over levels one year ago to 637,772 total units; 363,045 air conditioners and 274,727 heat pumps were shipped in February.
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.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
Read more from Brett LintonLatest in Steel Markets
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]
HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Apparent steel supply rebounds in December, but 2024 total at 4-year low
Apparent US steel supply rebounded in December, but 2024 was still the lowest level for supply since 2020.