May AC, Heat Pump shipments up slightly year-over-year

AHRI last week released May’s shipment figures, showing a slight bump from last May. 

Details: Over 911,000 combined air conditioners and heat pumps were shipped in May, up 0.4% year-over-year. 

• Year-to-date shipments total just over 3.6 million, down 3.2% from 2023.

The big picture: Forecasts heading into 2024 called for shipments to decline even further from 2023, before bottoming out and beginning to grow in 2025 and beyond. 

What’s happening: While total shipments are down slightly, year-to-date, April and May’s shipments have both surpassed last year’s figures, possibly signaling an early upward trend.

Looking ahead: As SearchLight Digital’s Jonathan Torrey points out, June has been the peak shipment month for the past two years. We’ll see if the upward momentum continues when its data gets released next month.