OEMs
HVAC equipment shipments slip in April
Written by Brett Linton
June 14, 2024
Shipments of heating and cooling equipment receded in April from March, according to the latest data released from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Following the multi-month high recorded in March, shipments remain strong through April in comparison to recent months.
April shipments declined 6% month on month (m/m) to 1.86 million units, 7% greater than the same month one year prior. Recall that shipments had jumped 18% m/m in February and 13% m/m in March.
On an annualized 12-month moving average (12MMA) basis, shipments have been trending lower since their post-Covid surge, flattening out in late 2023. The latest 12MMA for total shipments is 1.75 million units. This is 6% lower than the same period last year and 14% lower than the 12MMA through April 2022.
April shipments of residential and commercial storage water heaters eased 2% m/m to a combined 870,126 units. Recall that in March we saw the highest monthly water-heater shipment rate seen since April 2022.
Warm air furnace shipments fell 6% m/m in April following March’s 15% jump, now at a combined 236,330 units.
Shipments of central air conditioners and air-source heat pumps declined 11% m/m to a total of 748,688 units. This comes after a 28% m/m surge in March. Note that air conditioner/heat pump shipments are very seasonal, with slowdowns experienced throughout the winter months as evident in Figure 2. Total air conditioner and heat pump shipments are 4% lower than the same month one year prior.
The full press release of this data is available here on the AHRI website.
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.
Brett Linton
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