October HVAC shipments grow at highest rate in three years
The industry has staged a comeback from 2023, with a promising replacement backdrop heading into the next two years
Image: Apollo HVAC
Shipments of central air conditioners and heat pumps grew 53 percent, year-over-year, in October, according to AHRI data released on Friday.
Why it matters: This marks the biggest year-over-year monthly gain since April 2021.
Details: Manufacturers shipped about 450,000 air conditioners in October, a 47 percent increase from last year. Heat pump shipments were even more impressive, climbing 62 percent to 365,000 units. Full breakdown
The big picture: The industry has now seen seven consecutive months of shipment growth, staging a comeback after a difficult 2023.
- Zoom in: From January through October, 8.4 million total air conditioners and heat pumps were shipped — a nine percent increase from the same ten-month period last year.
Looking ahead: The air conditioners and heat pumps shipped in 2010 and 2011 — 10.6 million of them — are approaching, if not at, the end of their useful lives, providing a promising replacement backdrop heading into the next two years.
- November shipments will be released on the second Friday of January.
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HVAC shipments soar 55% in November
The increase marks eight consecutive months of growth and puts year-to-date shipments 11 percent above 2023