HVAC Prices in 2024: Most Recent List of Manufacturer Price Increases - Public Announcements

Several HVAC manufacturers have officially declared upcoming price hikes for 2024, garnering attention as a new wave of increases takes effect.

There is a noticeable industry-wide trend of manufacturers elevating the prices of equipment, parts, and supplies. Many of these manufacturers have publicly disclosed these announcements.

2023 HVAC Regulatory Changes

Commencing in 2023, the United States witnessed the implementation of regulatory modifications impacting HVAC systems. The introduction of SEER2 changes resulted in price hikes for new systems and also influenced the costs associated with legacy SEER equipment and parts.

Additional considerations for the most recent price increases may include:

• Inflationary reasons, and general price increases across commodities in all industries.
• 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.
• Increased costs of R410a refrigerant.

Trane

November 17, 2023 DAVIDSON, N.C. — The residential HVAC business at Trane Technologies has announced price adjustments on residential HVAC equipment will mean increases of up to 5% on some products; prices for other products will decrease or remain unchanged. The adjustments will apply to select Trane, American Standard Heating & Air Conditioning, RunTru by Trane, and Ameristar by American Standard equipment, plus related parts and supplies brands. The price adjustments will take effect on Monday, Jan. 1, 2024.

Lennox

November 30, 2023

RICHARDSON, Texas — Lennox Industries plans to raise prices on its residential equipment and accessories by up to 10%.

A statement from the company said the move is due to expected increases in the cost of R-410A refrigerant as well as other inflationary pressures. The price increases will be effective Monday, Feb. 5, 2024, the company said.

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.
- Quan

VP, GM Lennox Residential

Daikin

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.

Allied Air

December 5, 2023 

WEST COLUMBIA, S.C. — Allied Air Enterprises is planning price increases on residential and commercial products that will take effect on Tuesday, Jan. 2, 2024. The move in response to inflationary cost pressures, the company said in a statement. Allied said it will raise prices on residential equipment, parts, and accessories by up to 10%. Prices on commercial and specified equipment, parts, and accessories will go up by up to 12%, the statement said. Allied is a part of Lennox International Inc.

Carrier

November 14, 2022

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.

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Other announcements:

Goodman Daikin Equipment price increase 7% effective February 1, 2024
Goodman Daikin Parts price increase 3% effective February 1, 2024
Resideo/ Honeywell price increase various effective January 28, 2024
Bosch Heat Pumps price increase 6% effective January 12, 2024
Diversitech price increase various effective January 1, 2024
ICP Parts price increase 3-5% effective January 1, 2024
Copeland Compressors price increase 3-13% effective January 1, 2024
Diversitech price increase Various effective January 1, 2024
Coleman Equipment price increase 8% effective December 31, 2023
Evcon Equipment price increase 8% effective December 31, 2023
Southwire price increase various effective December 20, 2023
Robertshaw price increase various effective December 1, 2023
Dunkirk Boilers price increase 5% effective November 1, 2023
ICP Parts price increase various effective October 2, 2023
White Rodgers Controls price increase 1.67% effective October 2, 2023
Sporlan price increase 8-12% effective September 5, 2023
Daikin Minisplits price increase 8% effective September 5, 2023
Copeland Compressors price increase 17-40% effective September 1, 2023
Infrasave price increase 1% effective September 1, 2023
Modine Equipment price increase 5.6% effective July 1, 2023
Goodman Daikin Parts price increase 5.2% effective July 1, 2023