HVAC demand at/near bottom of ~15-year cycle; furnace shipments down sharply

Searchlight/AHRI data commentary notes US HVAC shipments fell more last winter than during the Great Recession (furnace shipments down ~27% vs ~20% trough), with operators positioning for a prolonged down-cycle.

“We saw a larger decrease in US shipments than we did during the Great Recession. So I don't remember the exact numbers. I think Josh is linking my sub stack, which is a weekly free email newsletter you can subscribe to. There's an article where I document that. I think furnace shipments were down something like 27 % net, when during the Great Recession, the biggest drop was 20%.”

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