Many HVAC manufacturers have already announced price increases in 2023, making headlines as another round of price increases go into effect.
Across the board, we are already seeing manufacturers raise the cost of equipment, parts, and supplies prices. Many manufacturers have made these announcements public, with increases ranging anywhere from 3% up to close to 20%
The reasons for the increases are due to a multitude of factors, including raw material costs, increased labor rates, fuel and transportation costs, and changes to processes.
2023 HVAC Regulatory Changes
Beginning in 2023, new regulatory changes affecting HVAC systems will take affect in the United States. The new SEER2 changes will cause price increases for new systems, as well as affect costs on legacy SEER equipment and parts.
Some additional considerations for the most recent price increases may include:
- R-410a refrigerant costs are 4x higher than 1-2 years ago and have limits on availability
- Increased oil and gas prices that impact transportation of heating and cooling products from manufacturers and distribution channels.
- Trans-EuroAsia Logistics (railway) impacted due to conflict in Ukraine & Russia which is affecting resources and goods required for critical components in heating and cooling products.
- Increases in commodities prices and logistics
With the recent COVID-19 pandemic, we’ve seen many people transferring to remote work, or spending more time at home in general. This has led to an increased demand for effective indoor air quality and home comfort systems. Many consumers have chosen this past year to make investments in their home, one of them being upgrading their HVAC equipment. Over the last several years, we have regularly seen manufacturer price increases once per year, but COVID-19 has especially hit the industry hard, as many of us have witnessed price increase announcements of major suppliers and brands at least once per quarter.
The HVAC industry, however, is not unique to these price increases. Similar trends can be seen in the construction industry as the demand and price for raw materials increases.
Simply put, the price increases manufacturers face are cascading through the supply chain and are just beginning to show up for the end consumer.
Current List of 2023 HVAC Price Increases
MOST RECENT:
MAY 1st, 2023 – DAVIDSON, N.C. — Trane Technologies’ commercial HVAC business today announced an average price increase of 4%-6% on select Trane® applied, ductless, and controls equipment. The increase varies by product with some items subject to higher or lower increases. The increase is effective May 5, 2023. For more information, visit www.tranetechnologies.com.
HISTORICAL:
- Davidson, N.C. — Trane Technologies’ commercial heating, ventilating, and air-conditioning (HVAC) business announced a price increase ranging from 4-7.5% on select Trane applied and controls equipment, as well as certain unitary products, with some items subject to additional increases. The increase is effective January 14, 2023.
- Trane Technologies’ Residential HVAC business announced a price increase of up to 10% on select residential heating, ventilating, and air-conditioning (HVAC) equipment. The increase applies to Trane, American Standard Heating & Air Conditioning, RunTru by Trane, and Ameristar by American Standard equipment, and related parts and supply brands. The price increase for residential equipment and select parts and supplies will take effect on products that ship on or after January 9, 2023.
- DAVIDSON, N.C. — Trane Technologies’ commercial heating, ventilating, and air-conditioning (HVAC) business announced a price increase ranging from 3-6% on select Trane unitary, applied, and controls equipment with some items subject to additional increases. The increase is effective September 10, 2022.
- DAVIDSON, N.C. — Trane Technologies’ Residential HVAC and Supply business announced a price increase of up to 9% on select residential and light commercial heating, ventilating, and air-conditioning (HVAC) equipment. Some items may be subject to an additional increase. The increase applies to Trane, American Standard Heating & Air Conditioning, Mitsubishi Electric Trane HVAC US, RunTru by Trane, and Ameristar by American Standard equipment that ship on or after May 1, 2022.
- DAVIDSON, N.C. — Trane Technologies’ commercial heating, ventilating, and air conditioning (HVAC) business announced a price increase of up to 18% on select Trane unitary, applied, and controls equipment with some items subject to additional increases. The increase is effective May 16, 2022.
- DAVIDSON, NC — Trane Technologies’ Commercial and Residential HVAC businesses announced Nov. 15 a price increase of up to 12% on select applied and unitary heating, ventilating, and air-conditioning (HVAC) equipment for Trane®, American Standard Heating & Air Conditioning®, Trane®/Mitsubishi Electric, RunTru®, and Ameristar® equipment. Some items may be subject to an additional increase.
- The price increase for residential products will take effect on products that ship on or after January 1, 2022. The price increase for commercial products will be effective January 15, 2022.
Trane Technologies Announces 2021 Price Increase
- Increase to affect select residential HVAC and supply products
DAVIDSON, N.C. — Trane Technologies’ Residential HVAC & Supply business announced a price increase of up to 6% on select HVAC equipment. The increase, effective as early as April 31st, 2021, applies to Trane, American Standard Heating & Air Conditioning, Mitsubishi Electric Trane HVAC US, RunTru by Trane, and Ameristar by American Standard equipment.
- DAVIDSON, N.C. — Trane Technologies’ residential HVAC and supply business announced a price increase of up to 7% on select residential HVAC equipment. The increase will take effect on products that ship on or after August 9, 2021, and applies to Trane, American Standard Heating & Air Conditioning, Mitsubishi Electric Trane HVAC US, RunTru by Trane, and Ameristar™ by American Standard equipment.
May 16, 2022
Dear valued customer,
The widespread toll of the global supply chain issues and inflationary pressures continues to impact business and industries around the world, including ours.
Like many companies, we are seeing unprecedented global supply chain instability, material shortages, and contini8ally rising costs from suppliers, commodities, freight, logistics, and other inflationary impacts. Our Trane teams are managing the situation closely and working proactively to help prevent and mitigate the impact of these rising costs and shortages. Unfortunately, we must implement additional pricing actions to offset these excessive rising costs.
Trane is implementing a price increase of up to 18% on select Trane unitary, applied and controls equipment with some items subject to additional price increases. The increase will apply to new and unreleased orders as of May 16, 2022.
Trane Commercial HVAC Americas Leadership.
MOST RECENT:
July 29, 2022
MINNEAPOLIS — Daikin Applied announced a price increase of up to 5% on commercial heating, ventilation, and air-conditioning (HVAC) equipment. The increase varies based on the make and model of the equipment, and it applies to all new orders received on or after August 31, 2022.
HISTORICAL:
- MINNEAPOLIS — Daikin Applied announced a price increase of up to 12% on commercial heating, ventilation, and air-conditioning (HVAC) equipment. The increase applies to all new orders received after May 25, 2022.
MOST RECENT:
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| Our Valued Customers,
I am writing to thank you for your business and your continued loyalty. Lennox Industries, like all manufacturers and distributors of heating and air conditioning equipment, has been experiencing increases in their cost to serve. The increase is due in part to ongoing inflationary pressures, increased supplier costs, and significant transportation & freight cost increases. For these reasons, we will be increasing prices up to 8% on residential & commercial products, accessories and parts. The increase is effective January 1st, 2023 for all U.S. customers.
Lennox Residential operating in the United States will honor current pricing for orders received and delivered prior to December 31st, 2022. All orders not delivered or picked up will be repriced to the new 2023 price effective January 1st, 2023. Over the next few weeks, your Lennox Territory Manager and District Manager will speak with you to review your outstanding residential projects to ensure that your pricing is consistent with our project quotation. You will also receive updated product pricing that will go into effect on January 1st, 2023.
We continue to reinvest in the product innovations that our customers have come to expect from Lennox. We have also expanded our distribution capabilities, grown our eCommerce platform to better serve our customers, and expanded the breadth of our parts business to better support your needs. We value your business and thank you for your continued partnership.
Best Regards,
Quan
VP, GM Lennox Residential |
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HISTORICAL:
- RICHARDSON, Texas — Due to persistent cost inflation and regulatory transition, Lennox Industries will be increasing prices up to 14% on commercial equipment, accessories, and parts and supplies. The increase will be effective August 1, 2022.
- RICHARDSON, Texas — Due to persistent cost inflation, Lennox Industries announced that they will be increasing prices up to 9% on residential and commercial equipment, accessories, and parts and supplies. The increase will be effective May 2, 2022.
- Increase effective January 18, 2021
RICHARDSON, Texas — Lennox Industries Inc. has announced a three to six percent price increase on all unitary residential and commercial heating and cooling products effective January 1, 2021.
- RICHARDSON, Texas — Lennox Industries announced a price increase of 6-9% on all residential and commercial equipment, controls, and parts & supplies. The increase will be effective June 1, 2021.
“We continue to see inflationary pressures on raw material costs significantly impacting our business,” said Elliot Zimmer, president and chief operating officer of Lennox Commercial.
- Lennox Industries (Richardson, Texas) will be increasing prices up to 13% on commercial equipment and accessories. The increase will be effective Jan. 1, 2022.
MOST RECENT:
February 15, 2023
FORT WAYNE, Ind. — WaterFurnace International recently announced a 4 to 6% price increase across all commercial equipment product lines in reaction to rising inflation on various costs. The price increase took effect February 13, 2023.
HISTORICAL:
- Fort Wayne, IN. — WaterFurnace International has announced a 4.5% price increase across all residential product lines in reaction to rising inflation on various costs. This price increase will come into effect on February 27, 2023.
- FORT WAYNE, Ind. — WaterFurnace International recently announced a 4 to 6% price increase across all commercial equipment product lines in reaction to rising inflation on various costs. The price increase took effect February 13, 2023.
- FORT WAYNE, Ind. — WaterFurnace International announced a 6.1% price increase across all commercial product lines, effective immediately, effective July 26, 2022. This increase is in reaction to rising supply chain costs, commodity inflationary pressures, and transportation and logistics inflation.
- FORT WAYNE, Ind. — WaterFurnace International announced a 9.4% price increase across all commercial and residential product lines in reaction to rising supply chain costs and commodity inflationary pressures. For all commercial product lines, the price increase came into effect March 31, 2022, at 8:00 a.m. ET. For all residential product lines, the price increase will come into effect on May 2, 2022. Our March 31, 2022, price increase announcement, driven by rising supply chain costs and commodity inflationary pressures, was intended to minimize current scheduled lead times. Based upon immediate feedback, we recognize we did not provide adequate notice to manage your pipeline. Therefore, we are modifying the price increase implementation as follows.
- WaterFurnace will be implementing a 9.4% price increase across all residential product lines, effective May 2, 2022. To guarantee current pricing, orders must be placed by 5:00 pm Eastern on Friday, April 29, 2022, for immediate release per current production schedule.
- Commercial product lines were increased by 9.4%, effective March 31, 2022.
- A 30-day notice will be provided on any changes to parts and accessories in the Residential Price Book, including freight charges.
- Effective March 31, 2022, we implemented a temporary $35 per unit freight surcharge on all unit orders. No surcharge will apply to accessory and replacement part orders. For orders of five or more units, the maximum surcharge is $175.
MOST RECENT:
December 9, 2022
WEST COLUMBIA, S.C. — Allied Air Enterprises announced a price increase of up to 8% on all residential and commercial equipment, accessories, and service parts due to inflationary pressures to due to transportation and input costs. The increase will be effective January 1, 2023.
HISTORICAL:
- WEST COLUMBIA, S.C. — Allied Air Enterprises announced a price increase of up to 14% on commercial equipment and accessories due to inflationary pressures to due to transportation and input costs. The increase will be effective August 1, 2022.
- WEST COLUMBIA, S.C. — Due to persistent inflationary costs, Allied Air Enterprises announced a price increase up to 9% beginning June 1, 2022.
- WEST COLUMBIA, SC — Due to persistent inflationary costs, Allied Air Enterprises (A subsidiary of Lennox International) announced today a price increase of up to 12% beginning January 1, 2022.
MOST RECENT:
TULSA, Okla. — AAON, Inc. (NASDAQ: AAON) announced a price increase of 7% on all AAON HVAC equipment. This price increase is a result of inflationary pressures. The price increase is effective March 29, 2022.
HISTORICAL:
- TULSA, Okla. — AAON Inc. announced a price increase of 4 percent on all AAON HVAC equipment. This price increase is a direct result of increased raw material and component costs, including stainless steel, galvanized steel and copper, which are up 30 to 50 percent compared to last year. The price increase is effective June 1st, 2021.
- TULSA, Okla. — AAON Inc. announced a price increase of 5% on all AAON HVAC equipment. This price increase is a result of inflationary pressures. The price increase is effective September 1, 2021.
“As raw material prices have continued to rise considerably, this is also driving a 3 to 4 percent increase in our component costs,” said Gary Fields, AAON president and CEO. “We intend to stay ahead of these inflationary pressures and must increase the price of AAON equipment.”
11/5/2020
Dear Valued Partner.
All of us at Heat Transfer Products Group appreciate and thank you for your business partnership. This past year has been unprecedented and has caused all of us to modify how we run our businesses and live our lives. This continues to be a unique and challenging time for our industry and the world.
The pandemic has introduced challenges internally, in our supply chain, and in the overall economy. We have incurred increased raw material, component, manufacturing operations, freight, and logistics costs. As a result, HTPG will be implementing a general list price adjustment of approximately 5% for most equipment and parts. The increase is on equipment, accessories and parts orders received on or after February 1st, 2021. Orders that are received prior to this date, for standard lead times, will not be affected.
As your partner, we want to help your business rebound and thrive in 2021 and beyond. We truly appreciate your business and look forward to a very successful 2021 for all of us.
Sincerely,
Mark Evans
General Manager
HTPG, LLC
MOST RECENT:
- CHARLOTTE, N.C. — Carrier, which manufactures HVAC products under the Carrier brand name, announced a price increase of up to 8% on North American commercial applied products, effective Dec. 5, 2022. Carrier is a part of Carrier Global Corporation, a global provider of healthy, safe, sustainable, and intelligent building and cold chain solutions.
HISTORICAL:
- CHARLOTTE, N.C. — Carrier, which manufactures HVAC products under the Carrier, Bryant, Payne, and International Comfort Products brand names, announced a price increase of up to 12% on North American light commercial, commercial applied products and controls, effective July 11, 2022.
- CHARLOTTE, N.C. — Carrier, which manufactures products under the Carrier, Bryant, Payne, and International Comfort Products brand names, announced a price increase of up to 9% on North American residential, light commercial, commercial applied, and HVAC parts and supplies effective April 11, 2022.
- Carrier, which manufactures products under the Carrier, Bryant, Payne and ICP brand names, recently announced a price increase of up to 7% on North American residential, light commercial, and commercial applied products effective June 1, 2021.
Additional HVAC manufacturers & suppliers that have announced price increases in 2021-2022 include, but are not limited to: Ruud, Rheem, Carrier, Daikin, York, & Johnson Controls.
Known 2022 Price Increases:
- Empire Heating Equipment and Parts – up to 6%
- CashAcme (Sharkbite) Fittings–
- Aprilaire Products – up to 12%
- Legend Valve – up to 10%
- NTI Equipment and Parts – up to 12%
- Lima Registers, Grilles, Diffusers up to 15%
- Rheem Equipment – up to 12%
- Weatherking Equipment – up to 12%
- Black Pipe Fittings and Nipples – up to 15%
- Honeywell / Resideo – up 3 to 7%
- PVC Fittings 1/2″ to 3″ – up to 15%
April 2022
- Aprilaire – up to 15% (Apr 21st)
March 2022
- Berry Tape – up to 10%
- Broan Products -up to 10%
- Copper Press Fittings – up to 10%
- Dundas Jafine – up to 10%
- Empire Heating Systems – up to 15%
- Field Controls – up to 13%
- General Filters – up to 10%
- Gree Products – up to 18% (Mar 7th)
- Hardcast Duct Seal – up to 10%
- Heatstar Radiant Heaters and Parts – up to 15% (Mar 20th)
- Malco Tools and Screws and Dampers– up to 10%
- Miller Equipment and Parts – up to 15%
- Reznor Parts and Accessories – up to
- Rheem/Protech Parts – up to 10%
- Rheem Tankless Waterheater – up to 6% (Mar 15th)
- PVC Fittings (All Sizes) – up to 15%
- Rectorseal Products – up 10 15%
- S&P Fans – up to 9%
- TruAire Registers and Grilles – up to 14% (Mar 15th)
February 2022
- B&G – up to 7% (Feb 15th)
- Lifebreath – up to 10% (Feb 15th)
- Tracpipe – up to 6% (Feb 15th)
- Thermo-pan Products – up to 10%
- Utica Boilers – up to 5%
- Utica Heating Boilers – up to 5%
January 2022
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- A-Vent and B-Vent Pipe and Fittings – up to 12%
- Condenser Pads – up to 15%
- DiversiTech Products – up to 15%
- DustFree Products – up to 5%
- Grundfos Pumps – up to 12%
- Hilmor Tools – up to 15%
- Lima Registers, Grilles, Diffusers – up to 15%
- FieldPiece Tools – up to 8%
- Koch Filters – up to 10%
- Kiddie Detectors – up to 5%
- QuickSling Mounts and Racks – up to 20%
- Reznor – up to 15%
- Rheem Equipment – up to 12%
- Thermaflex Sleeves and Liners – up to 10%
- TRUaire – up to 12%
- Taco Products – up to 6%
- Weatherking Equipment – up to 12%
- Z-Flex Products – up to 8%
Known 2021 Price Increases:
Modine Equipment price increase 2% effective September 1, 2021
Coleman price increase 6% effective September 1, 2021
York price increase 6% effective September 1, 2021
Evcon price increase 6% effective September 1, 2021
Bosch Heat Pumps price increase various effective August 29, 2021
Resideo price increase various effective August 28, 2021
General Filters price increase 12.5% effective August 25, 2021
Tru Aire price increase 16% effective August 22, 2021
Tecumseh price increase 3-5% effective August 15, 2021
Dunkirk Boilers price increase 2-4% effective August 9, 2021
Viega price increase various effective August 7, 2021
Bell & Gossett price increase 5% effective August 2, 2021
Browning Belts & Accessories price increase various effective August 2, 2021
TruAire price increase various effective August 2, 2021
AO Smith Parts price increase various effective August 2, 2021
Amana PTAC price increase various effective August 1, 2021
PDM Linesets price increase 10% effective August 1, 2021
Sealtite price increase 20-30% effective August 1, 2021
AO Smith price increase 10-12% effective August 1, 2021
AO Smith Parts price increase 6% effective August 1, 2021
Daikin price increase 5% effective August 1, 2021
Goodman Daikin Equipment price increase 8% effective August 1, 2021
Goodman Parts price increase 3-5% effective August 1, 2021
Modine Equipment price increase various effective August 1, 2021
Nu-Calgon price increase various effective August 1, 2021
Miller/ Nortek price increase various effective July 31, 2021
Honeywell price increase various effective July 23, 2021
White Rodgers price increase various effective July 9, 2021
PVC & Black Pipe price increase various effective July 6, 2021
Daikin Minisplits price increase 4.9% effective July 5, 2021
Bosch price increase 0-6% effective July 1, 2021
Pro-Flex CSST price increase 6% effective July 1, 2021
Purolator Filters price increase various effective July 1, 2021
Sporlan price increase 5.8% effective July 1, 2021
Goodman MFG Parts price increase various effective July 1, 2021
Honeywell price increase various effective July 1, 2021
ICP Parts price increase various effective July 1, 2021
Johnson Controls price increase 3.5% effective July 1, 2021
Modine Equipment price increase 6% effective July 1, 2021
Taco price increase 3-8% effective July 1, 2021
NU-Calgon price increase various effective July 1, 2021
Z-Flex price increase various effective July 1, 2021
Copeland Refrigeration price increase 3-6% effective July 1, 2021
Purolator Filters price increase various effective July 1, 2021
PDM price increase 6% effective July 1, 2021
DAIKIN AC price increase 7-8% effective July 1, 2021
Daikin AC Americas price increase various effective June 21, 2021
Hart & Cooley price increase various effective June 21, 2021
Tracpipe price increase various effective June 15, 2021
Grundfos Pumps price increase 5% effective June 15, 2021
H&C price increase 4% effective June 14, 2021
Tecumseh Products price increase various effective June 13, 2021
Viega price increase various effective June 6, 2021
Sealtite price increase 18% effective June 1, 2021
AO Smith Water Heaters price increase various effective June 1, 2021
Heatcraft/ Climate Control price increase 6% effective June 1, 2021
Viessmann price increase 6% effective June 1, 2021
Coleman price increase 6% effective June 1, 2021
Empire Comfort Systems price increase 5-10% effective June 1, 2021
Goodman & Daikin Equipment price increase 5-8% effective June 1, 2021
Goodman & Daikin Parts price increase 25% effective June 1, 2021
ICP Equipment price increase 3-7% effective June 1, 2021
Packard price increase 5-10% effective June 1, 2021
Aspen Coils price increase 6-8% effective June 1, 2021
Amana PTAC price increase 8% effective June 1, 2021
Honeywell/Resido price increase various effective May 17, 2021
Stylecrest/Miller/Nordyne Equipment price increase various effective May 16, 2021
Dunkirk Boilers price increase various effective May 16, 2021
Webstone price increase 4% effective May 14, 2021
Diversitech price increase 19% effective May 13, 2021
Fasco Motors price increase various effective May 12, 2021
Hart & Cooley Flex price increase 10% effective May 10, 2021
Bell & Gossett price increase 3% effective May 8, 2021
Hart & Cooley B-Vent & Chimney Liners price increase 4% effective May 8, 2021
Hart & Cooley Grills & Registers price increase 9% effective May 8, 2021
TruAire price increase 12% effective May 3, 2021
Infrasave price increase 5.2% effective May 1, 2021
Kelvinator price increase 3% effective May 1, 2021
Coleman price increase various effective May 1, 2021
Evcon price increase various effective May 1, 2021
Webstone price increase 9.2% effective April 20, 2021
NU-Calgon price increase various effective April 15, 2021
Tecumseh Products price increase 3-5% effective April 15, 2021
Diversitech price increase 5% effective April 12, 2021
AO Smith Parts price increase various effective April 6, 2021
Tracpipe/ Omega Flex price increase 6% effective April 1, 2021
PDM Linesets price increase 8% effective April 1, 2021
AO Smith Water Heaters price increase various effective April 1, 2021
Empire Comfort Systems price increase various effective April 1, 2021
Johnson Controls price increase various effective April 1, 2021
PVC, Black Pipe, & Copper price increase various effective April 1, 2021
Amana PTAC price increase 7.0% effective March 1, 2021
Daikin Americas price increase 7% effective March 1, 2021
Goodman/ Daikin Equipment price increase 7% effective March 1, 2021
Honeywell/ Resideo price increase 3% effective March 1, 2021
Z-Flex price increase 4% effective March 1, 2021
Renewaire ERV/HRV price increase 2% effective March 1, 2021
Copper price increase 11% effective March 1, 2021
PVC & Black Pipe price increase various effective February 16, 2021
General Aire price increase various effective February 7, 2021
Seal-Tite price increase various effective February 5, 2021
Fasco Motors price increase various effective February 1, 2021
Heatcraft / Climate Control price increase 3-5% effective February 1, 2021
Amana Company price increase 3.7% effective February 1, 2021
AO Smith Water Heaters price increase 3-9% effective January 31, 2021
Heil/ ICP Equipment price increase 6% effective January 31, 2021
Heil/ ICP Parts price increase various effective January 31, 2021
AO Smith Parts price increase 3-9% effective January 31, 2021
Hart & Cooley Flex price increase 8% effective January 18, 2021
Purolator Filters price increase various effective January 15, 2021
Robertshaw price increase 2.5-3% effective January 4, 2021
Hart & Cooley price increase various effective January 4, 2021
Copeland price increase 1.9% effective January 4, 2021
Sunbelt PVC & Black Pipe price increase various effective January 4, 2021
Diversitech price increase 2% effective January 1, 2021
Bosch Equipment price increase 6% effective January 1, 2021
Dunkirk Boilers price increase various effective January 1, 2021
Renewaire ERV/HRV price increase 2% effective January 1, 2021
We at Paschal Air, Plumbing, & Electric anticipate additional price hikes in the HVAC industry throughout 2021 as demand for raw materials increases, and cost of living rises.
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