Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/e951be9aa181f109d85097059e06d743.jpg)
Heating and Cooling Equipment Shipments Rebound in August
Written by Brett Linton
October 14, 2022
US heating and cooling equipment shipments rebounded 12% in August to 1.99 million units, according to data from the Air Conditioning, Heating, and Refrigeration Institute (AHRI). Total shipments in August were down 3% from levels one year earlier. The average monthly shipments level for the first eight months of 2022 is now 2.02 million units.
Shipments fell 20% in July to an eight-month low of 1.79 million units, the largest monthly decline in shipments since late 2020, while June saw the fifth-highest monthly shipment rate in our 14-plus-year history.
Shipments remain strong on a 12-month moving average (12MMA) basis, averaging 1.99 million units per month over the past year. This is down less than 1% from the 12MMA for the month prior, and 2% less than 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 in 2020.
As shown in the chart below, total heating and cooling shipments on a three-month moving average (3MMA) basis are down 7% year-over-year (YoY) through August. This is tied with July for the largest YoY decline seen since June 2020. Prior to April of this year, 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 15% YoY to a combined 666,000 units in August: 648,000 units were shipped for residential use and 19,000 units for commercial use. Water heater shipments were up 14% MoM.
August shipments of warm air furnaces totaled 365,000 units, an increase of 9% compared to the same month last year. Shipments for warm air furnaces increased 21% from July.
Central air conditioners and air-source heat pump shipments were up 3% compared to one year ago at 960,000 total units in August: 559,000 air conditioners and 401,000 heat pumps were shipped. AC and heat pump shipments were up 7% compared to one month prior.
Year-to-date (YTD) shipments through August 2022 total 16.12 million units. This is 452,000 units fewer than shipments in the first eight months of 2021 (16.58 million), but up from 14.61 million units in the same period of 2020 and also from 14.61 million units in 2019.
As seen in the chart below, 2022 YTD shipments for water heaters total 6.04 million units, 9% below the same period of 2021. Warm air furnace shipments totaled 2.69 million units YTD, down 1% versus last year. YTD air conditioner shipments reached 7.40 million units in the first eight months of this year, up 3% 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.
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.
By Brett Linton, Brett@SteelMarketUpdate.com
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/04/SMU_BL_headshot-V4-150x150.png)
Brett Linton
Read more from Brett LintonLatest in Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/GrafTech.jpg)
GrafTech’s Q2 loss widens in ‘challenging’ business environment
GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/06/canacero-logo.png)
Op-Ed: The myth of the Mexican steel surge
We have heard ominous warnings about a flood of Mexican steel threatening the US market. It's the kind of rhetoric that gets thrown around often with little regard for the facts. The reality is that the Mexican steel surge is simply not happening, and the US steel industry has consistently maintained a significant trade surplus in finished products with Mexico. In 2023 alone, this surplus exceeded $3 billion.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/graph_up_arrow.png)
Influx of coated products fuels recent import surge
Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.