Carrier Corporation

Carrier Corporation Overview

Founded: 1902

Workforce: ~ 52,000

Company Working:

Carrier Corporation, a subsidiary of Carrier Global Corporation, is a renowned global provider of heating, ventilation, air conditioning, and refrigeration (HVACR) solutions. With over a century of innovation, Carrier operates in numerous countries, offering a comprehensive range of HVAC products and services designed for residential, commercial, and industrial applications. Carrier offers a comprehensive range of cutting-edge HVACR solutions that cater to residential, commercial, and industrial needs. Commercial HVAC systems and controls for optimal comfort and efficiency. Carrier is known for its cutting-edge HVAC solutions, including high-efficiency air conditioners, heat pumps, furnaces, and ductless systems. They also offer indoor air quality products, such as air purifiers and humidifiers, and advanced controls like smart thermostats. Carrier's innovative technologies, like Greenspeed Intelligence and variable refrigerant flow (VRF), ensure precise temperature control and energy efficiency. Carrier's products are distributed through a diverse set of channels, including authorized dealers, distributors, contractors, and direct sales to commercial and industrial customers. Their extensive dealer network ensures that customers have access to expert advice and reliable service. Carrier operates in over 170 countries worldwide, providing its HVACR solutions and services through a vast network of regional offices, subsidiaries, and authorized dealers.

Strategy

Carrier has been consistently committed to innovation and technological advancement in its HVACR solutions. The company aims to maintain its leadership by developing energy-efficient products, incorporating smart technology, and enhancing building automation systems. Carrier places a strong emphasis on environmental sustainability. The company has been investing in research and development to create solutions that use low-GWP (Global Warming Potential) refrigerants, reduce energy consumption, and minimize environmental impact. In addition, with the growing demand for smart building technologies, Carrier has been investing in developing connected solutions that enable remote monitoring, predictive maintenance, and optimal energy management of HVACR systems.

Company Snapshot

$17,456M

Revenue

52,000

Employees

1902

Founded

SWOT Analysis

Strengths

Carrier Corporation is credited with inventing modern air conditioning, giving the company a strong historical foundation and brand recognition.
The company's ongoing commitment to innovation is evident through its development of energy-efficient technologies, sustainable solutions, and smart HVAC systems.

Weaknesses

Carrier faces challenges in emerging markets, such as political instability and corruption. These challenges can make it difficult for the company to do business in these markets.
Carrier faces competition from larger rivals, such as Johnson Controls and Daikin. These companies have more resources and can often offer lower prices.

Opportunities

The increasing demand for smart building solutions opens avenues for Carrier to provide integrated systems that enhance comfort and energy management
The global focus on energy efficiency and sustainable practices provides opportunities for Carrier to expand its market share with its innovative solutions..

Threats

Technological advancements could make some of Carrier's products and services obsolete. The company will need to invest in research and development to stay ahead of the curve and develop new products and services that meet the needs of its customers

Key Developments

Date	Approach	Development
August 2023	Product Launch	Carrier is expanding its line of WeatherExper® packaged rooftop units with the new high outdoor air system, a light commercial rooftop unit capable of conditioning up to 100% outdoor air. The WeatherExpert high outdoor air system can operate with up to 100% outdoor air for ventilation or make-up air or building ventilation. WeatherExpert high outdoor air systems can pair with space air conditioning and heating systems, such as Carrier VRF, water source heat pumps or rooftop units, to provide a complete HVAC solution for schools, hotels, or office buildings.
June 2023	Acquisition	Automated Logic Contracting Services Inc., a leading provider of innovative building management solutions, has completed its acquisition of Standard Plumbing Heating Controls (SPHC), an independent Automated Logic Dealer located in Spokane, Washington. Automated Logic is a part of Carrier Global Corporation, global leader in intelligent climate and energy solutions. Combining the strengths of our products and services with the strong, local presence of SPHC provides new customer value-added services and areas of expertise, especially with healthy building solutions, connected services and intelligent HVAC system controls to meet the energy-savings and sustainability needs of built environments.
June 2023	Announcement	The Carrier AquaEdge® 19MV centrifugal chiller has been recognized as one of the best new products of 2023 by Consulting-Specifying Engineer magazine. The AquaEdge 19MV received the gold award in the HVAC category for the publication’s Product of the Year program. Carrier is a part of Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions.

Product Offering

Carrier Corporation
- HVAC System

Financial Performance

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