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
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