Steel Markets
US Heating and Cooling Equipment Shipments Rise in June
Written by Brett Linton
August 12, 2022
US heating and cooling equipment shipments increased 7% from May to 2.24 million units in June, according to data from the Air Conditioning, Heating, and Refrigeration Institute (AHRI). June represents the fifth highest monthly shipment rate in our 14+ year history. (Note that June tends to be the month with the highest shipment levels, as was the case in 2021, 2020, and 2018). Total June shipments are down 3% compared to levels one year prior.
On a twelve-month moving average (12MMA) basis, shipments averaged 2.02 million tons per month over the past year, down 1% from the record-high 12MMA seen in March. Shipments averaged 2.03 million units per month in 2021, up 10% compared to 1.85 million units per month shipped in the same period of 2020. 
As shown in the chart below, total heating and cooling shipments on a three-month moving average (3MMA) basis are down 4% year-over-year. Prior to May, we saw an annual growth rate between 2–3% for each month since November 2021. May and June 2021 hold the record high 3MMA annual rates of change at 32% and 27%, respectively. Prior to 2020, the record high was 17% in February 2015.
Residential and commercial storage water heater shipments decreased 23% year-over-year to a combined 701,735 units in June; 681,322 units were shipped for residential use and 20,413 units for commercial use. Water heater shipments were down 5% month-over-month.
June shipments of warm air furnaces totaled 398,197 units, an increase of 22% compared to the same month last year. Prior to June, warm air furance shipments decreased on a year-over-year basis for six consecutive months. Shipments for warm air furnaces rose 22% from May.
Central air conditioners and air-source heat pump shipments were up 6% compared to one year ago at 1.14 million total units in June: 683,649 air conditioners and 460,710 heat pumps were shipped. AC and heat pump shipments were up 12% compared to one month prior.
Year-to-date (YTD) shipments through June 2022 are now up to 12.35 million units, just 77,000 units fewer than shipments in the first six months of 2021, and up from 10.41 million units in the same period of 2020. As seen in the chart below, 2022 YTD shipments for water heaters (4.78 million) and warm air furnaces (2.02 million) are both 2–5% below shipments in the same period of 2021 (5.04 million and 2.05 million, respectively). YTD air conditioner shipments reached 5.54 million units in the first six months of this year, up 4% from the same period last year and the highest YTD figure seen in our data history.
The full press release is available on the AHRI website here.
An interactive history of heating and cooling equipment shipment data is available here on our website. If you need assistance logging in to or navigating the website, please contact us at Info@SteelMarketUpdate.com.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
Read more from Brett LintonLatest in Steel Markets
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.
Slowing data center, warehouse planning drives decline in Dodge index
The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.