OEMs

Shipments of heating and cooling equipment tick up but down on-year

Written by Laura Miller

February 13, 2024

The latest statistics from the Air Conditioning, Heating, and Refrigeration Institute (AHRI) show that December shipments of heating and cooling equipment in the US inched higher from the previous month but declined from last year’s levels.

Shipments totaled 1,478,400 units in December, AHRI said. This was a 1% month-on-month (m/m) increase but an 11% year-on-year (y/y) drop.

Shipments have been trending downwards. The 12-month moving average (12MMA) has been steadily declining since peaking in March 2022 at 2,041,670 units. December’s 12MMA, at 1,758,400 units, is down 14% from that peak.

The chart below highlights the annual rate of change in the 12MMA of total heating and cooling equipment shipments. The 12MMA hovered around 9% below year-ago levels for most of 2023.

Shipments of A/C and heat pumps dipped to recent lows in November and December.

December shipments of water heaters were up 2% compared to last year, while warm air furnace shipments dropped 7% on-year.

For calendar-year 2023, shipments of warm air furnaces and AC/heat pumps were down from the levels seen in the prior four years. At the same time, after dipping last year, shipments of water heaters climbed once again.

An interactive history of heating and cooling equipment shipment data is available on our website. If you need assistance logging in to or navigating the website, please contact us at info@steelmarketupdate.com.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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