AC, Heat Pump shipments fall 7.6% in Q1
Chart: Homepros, Data: AHRI
AHRI’s March shipment figures are in, giving us a full look at the first quarter.
The numbers: Q1 central AC and heat pump shipments totaled just over 1.9 million, down 7.6% from last year — and 19% from 2022.
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Over 830,000 combined units were shipped in March alone, down 4.5% from last year.
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March shipments of gas warm air furnaces also dropped by 10% year-over-year.
The big picture: “It does appear that we are mirroring the demand cycle from the 2007-2010 time period and are possibly in the bottom or near-bottom, but no one can truly predict or say with certainty where we are in the demand cycle,” Jonathan Torrey writes.
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General uncertainty among consumers — especially considering it’s an election year — is also a factor, with some contractors telling Homepros that homeowners are holding off on replacements.
What’s next: Summer is around the corner, predicted to be one of the hottest on record. As the weather turns, shipment volumes over the next three to six months will be key to watch.
