SourceBlue continues to forecast an increase of 2.4% in equipment pricing for the first half of 2024, keeping the index at 209. Year to date industry data for 2024 versus the same time in 2023 shows electrical equipment orders increased (+3.0%) and shipments also increased (+5.5%). For the same time period, mechanical equipment orders increased (+1.5%) and shipments increased (+4.0%).
We will continue to provide updates on price increases and any significant supply chain information as it becomes available.
Estimated Equipment Lead Times
Varies Due to Equipment Sizing
Lead times for most mechanical products have either leveled off or decreased in the past few quarters
Air cooled chillers (150 tons or larger) have begun increasing and are anticipated to continue to do so with strong demand from data centers. Lead times are now over one year for the larger manufacturers.
Demand for electrical equipment remains robust.
The expanded and added capacity by switchgear manufacturers have improved lead time for panelboards, low and medium voltage gear. Due to unprecedented demand for generators by data centers, lead times on select sizes have pushed out to up to 130 weeks.
Lighting
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Increases in lead times for drivers are 5-7 weeks due to chip shortages leading to increased delivery times. Therefore, we are recommending a buffer lead time of 10-12 weeks. LED chips are also currently seeing lead time increases but the drivers are the main bottleneck. Controls stock is relatively steady outside some processors and long lead time items. Lighting poles are seeing increased lead times and we are currently recommending 16-20 weeks.
| Year | AVG. INDEX | PERCENT% |
|---|---|---|
| 2004 | 100 | Base Year |
| 2010 | 114 | -4.5% |
| 2011 | 117 | 2.5% |
| 2012 | 121 | 3.5% |
| 2013 | 124 | 2.5% |
| 2014 | 126 | 2.0% |
| 2015 | 127 | 1.0% |
| 2016 | 129 | 1.5% |
| 2017 | 133 | 3.0% |
| 2018 | 138 | 3.8% |
| 2019 | 142 | 3.0% |
| 2020 | 145 | 2.8% |
| 2021 | 161 | 10.3% |
| 2022 | 185 | 15.1% |
| 2023 | 204 | 10.4% |
| 2024 | 209 | 2.4% |
Cost Index
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