Carrier Global Corporation provides intelligent climate and energy solutions, primarily focusing on heating, ventilation, and air conditioning (HVAC) and refrigeration. The HVAC segment includes products such as air conditioners, heating systems, and building automation systems. The Refrigeration segment offers solutions for the transport and preservation of perishable goods, including equipment for trucks, trailers, and shipping containers. Carrier's significant brands include Carrier, Viessmann, Toshiba, and Carrier Transicold.
Carrier operates in the HVAC and refrigeration industries, generating revenue through the sale of new equipment, parts, and services. In 2024, Carrier reported net sales of $22.5 billion, with a large portion of sales coming from the Americas, followed by EMEA and Asia-Pacific. The company sells its products directly to contractors and owners and indirectly through distributors and wholesalers. Approximately half of Carrier's sales are from international operations, with new equipment sales comprising 75% of net sales.
Carrier's operational structure includes approximately 55 joint ventures, primarily in the HVAC segment. Key factors impacting Carrier's business performance include competition based on technology, product performance, and service delivery. The company relies on suppliers for raw materials and components and experiences seasonal demand fluctuations, especially for HVAC products during warmer months. Carrier's acquisitions and divestitures, such as the acquisition of Viessmann's climate solutions business and the sale of several other business units, also play a role in its business dynamics.