Dive Brief:
- Carrier Global Corp. reported a 6% increase in sales compared to the same period last year, highlighting an 11% rise in HVAC sales. This was announced in their recent report.
- The company’s HVAC sales in the Americas experienced significant growth, particularly in commercial and residential sectors, which saw double-digit increases, offsetting declines in the light commercial area.
- Like its competitors, Carrier is entering the data center market, aiming for $1 billion in sales for 2025, as mentioned by CEO David Gitlin during their earnings call. He emphasized that they want to take care of cooling solutions for data center operators.
Dive Insight:
Carrier’s commercial HVAC sales grew in the mid-teens compared to last year, setting them up for another promising year in 2025. Their commercial HVAC and aftermarket sales also increased by double digits for the fourth consecutive year.
In the Americas, HVAC sales rose in the low teens year-over-year. Carrier has enhanced its manufacturing capabilities, boosting production by around 50% at its Charlotte, North Carolina, facility. They are also building a new facility, allowing them to potentially double their output in North America.
In the U.S., Carrier is collaborating with utility companies to provide integrated battery heat pump systems that can save energy during peak hours. Gitlin mentioned that interest from utilities and customers has been positive in addressing energy grid challenges.
Recently, Carrier launched QuantumLeap, a set of solutions aimed at supporting the rapidly growing data center industry. This initiative will expand their range of energy-efficient cooling solutions while also allowing for customizable aftermarket programs and enhanced manufacturing capacity.
Carrier believes that the global data center cooling market is set to reach $20 billion by 2029, and QuantumLeap signifies a significant advancement in data center thermal management. They also highlighted their latest chillers and air handling units, along with innovations in direct-to-chip liquid cooling and predictive maintenance systems.
By integrating traditional cooling methods with new technologies, Carrier aims to offer more efficient solutions to their customers in this expanding sector. Gitlin indicated that, due to their strategic market positioning, Carrier anticipates another year of strong growth in aftermarket services and global commercial HVAC sales.