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Carrier

American multinational heating, ventilation, and air conditioning, refrigeration, and fire and security equipment corporation.

Categories

Industrial Manufacturing  
Technology  

#270

Rank

$72.94B

Marketcap

US United States

Country

Carrier
Leadership team

Willis Carrier (Founder)

Aditya Jindal (Chief Financial Officer , South Asia Pacific , Carrier Corporation)

Industries

Industrial Manufacturing

Technology

Products/ Services
Air Conditioning, HVAC, Refrigerators, Heating, Ventilating
Number of Employees
20,000 - 50,000
Headquarters
Indianapolis, Indiana, United States
Established
1915
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001783180
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
CARR
Social Media
Overview
Location
Summary

Carrier is an industry-leading global provider of innovative heating, ventilating, air-conditioning, and refrigeration (HVAC-R) solutions. Founded in 1915, Carrier has been at the forefront of the HVAC-R industry for over 100 years. The company designs and manufactures a wide variety of products and services, from residential and commercial equipment to industrial solutions, to meet all of its customers’ needs. Carrier offers a comprehensive range of HVAC-R solutions, from air conditioners and furnaces to programmable thermostats and energy-efficient controls. Carrier also provides maintenance, repair, and installation services for its products.

Carrier is committed to providing the highest quality products and services to its customers. The company consistently strives to bring about the most advanced and efficient HVAC-R solutions to the market, while also working to reduce energy consumption and environmental impact.

History

Carrier was founded in 1915 by Willis Carrier as Carrier Engineering Corporation. The company started off as an air conditioning and refrigeration company, and soon established itself as a leader in the industry. Carrier's first major achievement was the invention of modern air conditioning in 1902, which revolutionized the way people lived and worked in the hot summer months.

In 1919, Carrier's president, J. Irvine Lyle, authored a book called "The Mechanical Weather Man" which highlighted the benefits of Carrier's air conditioning technology in various industries. In 1921, Carrier's refrigeration product line saw significant progress, and the company's first installation was at the Palace Theater in Dallas.

One of Carrier's most significant achievements came in 1925, when New York City's Madison Square Garden used Carrier's centrifugal chillers to cool its patrons and produce a perfect ice surface for professional hockey. In 1929, Carrier installed the first air conditioning systems in the United States Senate and House of Representatives.

Throughout the 1930s, Carrier continued to innovate and expand, recording the first sale of its window-sill-height Weathermaster units in 1930, and installing air conditioning on the M.V. Victoria, the first vessel to make its maiden voyage equipped with Carrier air conditioning. In 1939, the company created the "Carrier Igloo of Tomorrow" for the New York World's Fair, which saw nearly 1.3 million visitors in its first 100 days.

In 1942, Carrier celebrated the 20th anniversary of Willis Carrier's invention of the centrifugal chiller. The company continued to innovate in the post-World War II era, with the 1956 announcement of the largest contract ever awarded for residential air conditioning.

In the 1960s, commercial air conditioning became a $1.15 billion market, with Carrier leading the charge. The company introduced the first front-wall refrigeration unit for containers in 1968, under the Carrier Transicold brand.

In 1979, Carrier Corporation was acquired by United Technologies Corporation (UTC), and was renamed the Carrier Air Conditioning Company. The 1980s and 1990s saw significant restructuring and downsizing efforts, with the company disposing of unrelated businesses and updating its product line.

In 1994, Carrier announced plans to phase out the use of CFCs worldwide, well in advance of when it would be required in many markets. The company's pursuit of business in emerging markets saw more than 50% of sales occurring outside the United States by 1995.

In the 2000s, Carrier continued to expand and innovate, purchasing Specialty Equipment Companies, Inc. in 2000 for approximately $700 million in cash and assumed debt. The company also formed a joint venture with Toshiba Corporation in 1999.

Today, Carrier Global Corporation is considered one of the top largest public companies in the world, with over 52,000 employees and more than 80 brands. The company has pioneered work in everything from efficient diesel/electric installations to the introduction of the first natural refrigerant container unit.

Mission

Carrier's mission statement reflects the company's commitment to innovation and sustainability in the delivery of systems and services that make modern life possible. By using groundbreaking technologies and services, Carrier aims to make homes, buildings, and shipping safer, smarter, and more sustainable.

Safety is a top priority for Carrier, and the company is dedicated to developing systems and services that enhance safety in homes and buildings. This includes everything from fire safety and air quality to security systems and smart building automation. Carrier's expertise in these areas helps to ensure that homes and buildings are safe and secure for their occupants.

Carrier is also committed to making homes and buildings smarter by developing advanced technologies that improve energy efficiency, reduce waste, and enhance comfort. These innovations include intelligent HVAC systems that adjust to occupants' needs, smart thermostats that learn users' preferences, and building automation systems that optimize energy usage.

Sustainability is another critical area of focus for Carrier. The company recognizes the importance of reducing environmental impact and is dedicated to developing systems and services that are environmentally responsible. Carrier is committed to reducing greenhouse gas emissions, conserving energy, and minimizing waste through the development of sustainable technologies.

Vision

Carrier's vision is centered around providing technology solutions that help their customers achieve long-term economic success. This involves delivering relevant and trusted solutions that enable customers to enhance their operations and achieve their business objectives.

To achieve this vision, Carrier is committed to developing innovative products and services that meet the evolving needs of their customers. They recognize that businesses today are faced with a rapidly changing marketplace, and they aim to provide solutions that are flexible and adaptable to these changing circumstances.

Carrier also recognizes the importance of building strong, long-lasting relationships with their customers. They strive to be a trusted partner that customers can rely on for guidance and support as they navigate the complex landscape of modern business.

Ultimately, Carrier's vision is to be a leader in the industry, known for their innovation, reliability, and commitment to customer success. They aim to achieve this by consistently delivering high-quality products and services that help their customers achieve their goals and succeed in a rapidly changing world.

Key Team

Bobby George (VP & Chief Digital Officer)

Christopher Sheppard (CFO -- Carrier Commercial HVAC)

Elena Bernal Molero (CFO HVAC South Europe)

Ewa Pigna (CTO Lenels2)

Jennifer Anderson (SVP, Strategy, Business Development & Chief Sustainability Officer)

Johan Petersmo (CFO HVAC Nordics)

Kevin O’connor (VP & Chief Legal Officer)

Willis Carrier (Founder)

Recognition and Awards
In 2019, Carrier was awarded the Responsible Business Award for their efforts to reduce their environmental impact. - Carrier won the 2020 AHR Expo Innovation Award for their revolutionary Carrier Infinity Series Air Purifier.
Products and Services

Carrier offers a wide range of products and services that help make modern life more comfortable, safe, efficient, and sustainable. Here are some of their main offerings:

Heating, Ventilation and Air Conditioning (HVAC) systems: Carrier is a world leader in HVAC systems, offering a variety of heating and cooling solutions for residential, commercial, and industrial applications. Their products range from air conditioners, heat pumps, and furnaces to ductless systems, rooftop units, and chillers. Carrier also offers smart thermostats and controls that allow users to monitor and adjust their HVAC systems remotely.

Refrigeration systems: Carrier provides commercial refrigeration solutions for the food retail, hospitality, and healthcare industries. Their products include refrigerated display cases, walk-in coolers and freezers, and refrigeration systems for supermarkets, restaurants, and hospitals.

Fire and security systems: Carrier offers fire alarm and security systems that help protect homes, businesses, and industrial facilities from fire, theft, and other emergencies. Their products range from smoke detectors and security cameras to access control systems and intrusion detection systems.

Building automation systems: Carrier's building automation systems enable building owners and managers to control and monitor their HVAC, lighting, and other systems from a central location. These systems help improve energy efficiency, reduce operating costs, and enhance occupant comfort.

Sustainable energy solutions: Carrier is committed to helping customers reduce their carbon footprint and achieve sustainability goals. They offer products and services that support renewable energy sources such as solar and geothermal energy, as well as energy efficiency solutions such as smart controls and building retrofits.

References
Carrier
Leadership team

Willis Carrier (Founder)

Aditya Jindal (Chief Financial Officer , South Asia Pacific , Carrier Corporation)

Industries

Industrial Manufacturing

Technology

Products/ Services
Air Conditioning, HVAC, Refrigerators, Heating, Ventilating
Number of Employees
20,000 - 50,000
Headquarters
Indianapolis, Indiana, United States
Established
1915
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001783180
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
CARR
Social Media