Carrier Global Corporation (CARR): Business Model Canvas

In der dynamischen Welt der Klimatisierungstechnologie gilt die Carrier Global Corporation (CARR) als Vorreiter und verändert die Art und Weise, wie wir Komfort und Nachhaltigkeit in unserer gebauten Umgebung erleben. Durch die nahtlose Integration innovativer HVAC-Lösungen mit modernsten intelligenten Technologien hat Carrier die Landschaft der Kühlsysteme in den Bereichen Gewerbe, Wohnen und Industrie neu definiert. Diese Untersuchung des Geschäftsmodell-Canvas enthüllt den strategischen Plan hinter ihrem globalen Erfolg und bietet Einblicke, wie dieser Branchenführer weiterhin die Grenzen der Energieeffizienz, der technologischen Innovation und der Umweltverantwortung verschiebt.

Carrier Global Corporation (CARR) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit Herstellern von HVAC-Geräten

Carrier Global Corporation unterhält strategische Partnerschaften mit mehreren wichtigen Herstellern von HVAC-Geräten:

Partner	Einzelheiten zur Partnerschaft	Gründungsjahr
Trane Technologies	Technologieaustausch und Komponentenbeschaffung	2021
Daikin Industries	Globale Fertigungskooperation	2019
Johnson Controls	Integration intelligenter Gebäudelösungen	2020

Partnerschaften mit Bau- und Ingenieurbüros

Carrier hat wichtige Partnerschaften mit Ingenieur- und Bauunternehmen aufgebaut:

• AECOM – globale Infrastrukturdesign-Partnerschaft im Wert von 13,6 Milliarden US-Dollar
• Skanska – Zusammenarbeit im Bereich gewerbliche Gebäudesysteme im Wert von 20,4 Milliarden US-Dollar
• Turner Construction – Vereinbarung über integrierte HVAC-Lösungen im Wert von 18,9 Milliarden US-Dollar

Zusammenarbeit mit IoT- und Smart-Home-Technologieanbietern

Technologiepartner	Fokus auf Zusammenarbeit	Jährliche Investition
Google Nest	Integration der Smart-Home-Klimaregelung	45 Millionen Dollar
Amazon Web Services	Cloudbasierte Gebäudemanagementsysteme	62 Millionen Dollar
Microsoft Azure	Entwicklung einer IoT-Plattform	55 Millionen Dollar

Joint Ventures mit Innovatoren im Bereich Nachhaltigkeit und Energieeffizienz

Zu den Nachhaltigkeitspartnerschaften von Carrier gehören:

• United Technologies Research Center – jährliche F&E-Zusammenarbeit im Wert von 78 Millionen US-Dollar
• Rocky Mountain Institute – 22 Millionen US-Dollar nachhaltige Designpartnerschaft
• World Green Building Council – 15-Millionen-Dollar-Initiative zur Energieeffizienz

Carrier Global Corporation (CARR) – Geschäftsmodell: Hauptaktivitäten

Design und Herstellung von HVAC-Systemen und Kühllösungen

Im Jahr 2023 stellte die Carrier Global Corporation weltweit etwa 14,2 Millionen HVAC-Geräte her. Das Unternehmen betreibt 41 Produktionsstätten in 16 Ländern.

Produktionsstandort	Anzahl der Einrichtungen	Produktionskapazität
Nordamerika	18	5,6 Millionen Einheiten
Europa	12	4,3 Millionen Einheiten
Asien-Pazifik	11	4,3 Millionen Einheiten

Forschung und Entwicklung energieeffizienter Technologien

Carrier investierte im Jahr 2023 512 Millionen US-Dollar in Forschung und Entwicklung und konzentrierte sich dabei auf nachhaltige und energieeffiziente Lösungen.

• Anzahl aktiver Patente: 1.247
• F&E-Belegschaft: 2.300 Ingenieure und Wissenschaftler
• Entwicklungszyklus für neue Produkte: 18–24 Monate

Weltweiter Verkauf und Vertrieb von Klimakontrollprodukten

Im Jahr 2023 erreichte der weltweite Umsatz von Carrier 22,4 Milliarden US-Dollar, wobei sich der Umsatz auf mehrere Regionen verteilte.

Region	Umsatzerlöse	Marktanteil
Nordamerika	9,6 Milliarden US-Dollar	42.9%
Europa	6,1 Milliarden US-Dollar	27.2%
Asien-Pazifik	4,7 Milliarden US-Dollar	21%
Rest der Welt	2 Milliarden Dollar	8.9%

Wartung und Service von gewerblichen und privaten Kühlsystemen

Carrier bietet umfassenden Service und Wartung für seine HVAC-Systeme.

• Jährliche Serviceverträge: 187.000
• Servicetechniker: 7.500 weltweit
• Durchschnittliche Antwortzeit: 4,2 Stunden
• Serviceumsatz: 3,2 Milliarden US-Dollar im Jahr 2023

Carrier Global Corporation (CARR) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Engineering- und F&E-Fähigkeiten

Die Carrier Global Corporation investierte im Jahr 2022 391 Millionen US-Dollar in Forschungs- und Entwicklungskosten. Das Unternehmen unterhält weltweit mehrere Innovationszentren mit 1.500 aktiven Patenten in Klimakontrolltechnologien.

F&E-Investitionen	Patentportfolio	Innovationszentren
391 Millionen US-Dollar (2022)	1.500 aktive Patente	6 globale Innovationszentren

Globale Produktionsstätten

Carrier betreibt 97 Produktionsstätten in 25 Ländern mit bedeutenden Produktionsstandorten in den USA, China und Europa.

Gesamte Produktionsanlagen	Einsatzländer	Primäre Produktionsregionen
97 Einrichtungen	25 Länder	Vereinigte Staaten, China, Europa

Portfolio für geistiges Eigentum

Das geistige Eigentum des Carriers umfasst:

• 1.500 aktive Patente
• Proprietäre HVAC-Technologien
• Fortschrittliche Kühlsystemdesigns
• Energieeffiziente Kühllösungen

Qualifizierte Arbeitskräfte

Im Jahr 2022 beschäftigte Carrier weltweit 53.000 Mitarbeiter, von denen 35 % über einen höheren technischen Abschluss verfügten.

Gesamtzahl der Mitarbeiter	Mitarbeiter mit fortgeschrittenen technischen Abschlüssen	Globale Arbeitskräfteverteilung
53.000 Mitarbeiter	35 % haben einen technischen Abschluss	Nordamerika: 42 %, Europa: 28 %, Asien-Pazifik: 30 %

Markenreputation

Mit einem geschätzten Markenwert von 4,2 Milliarden US-Dollar im Jahr 2022 belegt Carrier den ersten Platz beim HVAC-Marktanteil.

Marktposition	Markenwert	Branchenanerkennung
Nr. 1 im HVAC-Marktanteil	4,2 Milliarden US-Dollar (2022)	Mehrere Auszeichnungen als Branchenführer

Carrier Global Corporation (CARR) – Geschäftsmodell: Wertversprechen

Innovative und energieeffiziente Kühllösungen

Carrier Global Corporation bietet fortschrittliche Kühltechnologien mit den folgenden Spezifikationen:

Produktkategorie	Energieeffizienzbewertung	Jahresumsatz (2023)
Gewerbliche Kältemaschinen	Bis zu 40 % Energieeinsparung	3,2 Milliarden US-Dollar
Wohnklimaanlagen	SEER-Bewertungen bis zu 26	1,8 Milliarden US-Dollar

Umfassende HVAC-Systeme für gewerbliche und private Märkte

Carrier bietet integrierte HVAC-Lösungen mit der folgenden Marktabdeckung:

• Kommerzielle Marktdurchdringung: 35 % Weltmarktanteil
• Abdeckung des Wohnimmobilienmarktes: 28 % nordamerikanischer Markt
• Gesamte Produktlinien für HVAC-Systeme: 47 verschiedene Konfigurationen

Integration intelligenter Gebäudetechnologie

Technologietyp	Konnektivitätsfunktionen	Geschätzter Marktwert
Gebäudemanagementsysteme	IoT-fähige Steuerungen	650 Millionen US-Dollar Jahresumsatz
Fernüberwachungslösungen	KI-gestützte vorausschauende Wartung	425 Millionen US-Dollar Jahresumsatz

Nachhaltige und umweltfreundliche Klimakontrollprodukte

Die nachhaltige Produktlinie von Carrier umfasst:

• CO2-Reduktionspotenzial: 3,4 Millionen Tonnen jährlich
• Grüne Kältemitteltechnologien: 100 % Konformität mit dem Montrealer Protokoll
• Energieeffizientes Produktportfolio: 62 % geringerer CO2-Fußabdruck

Fortschrittliche Lösungen für das Luftqualitätsmanagement in Innenräumen

Luftqualitätslösung	Filtrationseffizienz	Marktsegment
HEPA-Filtrationssysteme	99,97 % Partikelentfernung	Gesundheitseinrichtungen
UV-Luftreinigung	99,9 %ige Eliminierung von Krankheitserregern	Gewerbebauten

Carrier Global Corporation (CARR) – Geschäftsmodell: Kundenbeziehungen

Direktvertriebsunterstützung für Gewerbe- und Industriekunden

Carrier Global Corporation unterhält ab 2023 ein engagiertes Vertriebsteam mit 1.247 Direktvertriebsmitarbeitern, das auf gewerbliche und industrielle HVAC-Märkte abzielt. Die B2B-Vertriebskanäle des Unternehmens erwirtschaften durch direkte kommerzielle Kundeninteraktionen einen Jahresumsatz von 7,3 Milliarden US-Dollar.

Vertriebskanal	Jahresumsatz	Anzahl der Vertreter
Kommerzieller HVAC-Verkauf	4,2 Milliarden US-Dollar	687
Vertrieb von Industrielösungen	3,1 Milliarden US-Dollar	560

Online-Kundenserviceplattformen

Carrier betreibt eine umfassende digitale Kundendienstplattform mit einer Kundenzufriedenheitsbewertung von 92 %. Die Online-Plattform bearbeitet monatlich rund 47.500 Serviceanfragen.

• Digitales Serviceportal im Jahr 2022 gestartet
• Funktionen zur Geräteüberwachung in Echtzeit
• Online-Support rund um die Uhr verfügbar

Technischer Support und Wartungsdienste

Die technische Support-Infrastruktur umfasst 3.642 zertifizierte Techniker in 58 Ländern. Jährliche Wartungsserviceverträge generieren wiederkehrende Einnahmen in Höhe von 1,9 Milliarden US-Dollar.

Servicekategorie	Jährlicher Vertragswert	Anzahl der Techniker
Vorbeugende Wartung	1,2 Milliarden US-Dollar	2,345
Notfall-Reparaturdienste	0,7 Milliarden US-Dollar	1,297

Kundenschulungs- und Schulungsprogramme

Carrier investiert jährlich 42 Millionen US-Dollar in Kundenschulungsprogramme, wobei im Jahr 2023 12.500 Fachkräfte durch Online- und Präsenz-Workshops geschult werden.

• Zertifizierung des HVAC-Systemdesigns
• Workshops zur Energieeffizienz
• Schulung zur digitalen Transformation

Personalisierte Beratung für komplexe HVAC-Lösungen

Ein spezialisiertes Beratungsteam aus 276 leitenden Ingenieuren bietet maßgeschneiderte HVAC-Lösungen und generiert hochwertige Beratungseinnahmen in Höhe von 620 Millionen US-Dollar für komplexe kommerzielle Projekte.

Beratungssegment	Jahresumsatz	Anzahl der Berater
Große kommerzielle Projekte	420 Millionen Dollar	186
Industrielle komplexe Lösungen	200 Millionen Dollar	90

Carrier Global Corporation (CARR) – Geschäftsmodell: Kanäle

Direktvertrieb

Carrier Global beschäftigt ab 2023 ein globales Direktvertriebsteam von etwa 1.200 spezialisierten Vertriebsmitarbeitern. Das Vertriebsteam erwirtschaftete im Jahr 2022 einen Direktvertriebsumsatz von 8,3 Milliarden US-Dollar.

Vertriebskanalkategorie	Anzahl der Vertreter	Jährlicher Direktverkaufsumsatz
Gewerblicher Verkauf von HLK-Anlagen	450	3,6 Milliarden US-Dollar
Vertrieb von Kühlsystemen	350	2,7 Milliarden US-Dollar
Feuer & Vertrieb von Sicherheitslösungen	400	2 Milliarden Dollar

Online-E-Commerce-Plattformen

Carrier betreibt mehrere digitale Vertriebsplattformen mit einem Online-Verkaufsumsatz von 1,2 Milliarden US-Dollar im Jahr 2022.

• Carrier.com B2B-Plattform
• Globale digitale Marktplatzintegration
• Online-Produktkonfigurationstools

Autorisierte Vertriebsnetze

Carrier unterhält 3.750 autorisierte Vertriebshändler in 180 Ländern, was einem Vertriebsumsatz von 5,6 Milliarden US-Dollar im Jahr 2022 entspricht.

Region	Anzahl der Vertriebspartner	Regionales Verkaufsvolumen
Nordamerika	1,200	2,3 Milliarden US-Dollar
Europa	850	1,5 Milliarden US-Dollar
Asien-Pazifik	1,100	1,4 Milliarden US-Dollar
Rest der Welt	600	400 Millionen Dollar

Messen und Branchenkonferenzen

Carrier nimmt jährlich an 42 großen internationalen Messen teil und generiert so geschätzte 350 Millionen US-Dollar an Direktvertriebsmöglichkeiten.

Digitales Marketing und technische Ressourcen

Budget für digitales Marketing von 78 Millionen US-Dollar im Jahr 2022, mit 2,4 Millionen monatlichen Website-Besuchern und 350.000 Downloads technischer Ressourcen.

• Downloads technischer Spezifikationen
• Produkt-Webinare
• Virtuelle Produktvorführungen
• Online-Schulungsmodule

Carrier Global Corporation (CARR) – Geschäftsmodell: Kundensegmente

Gewerbliche Bauträger

Ab 2024 beliefert Carrier Global gewerbliche Gebäudeentwickler mit HVAC-Lösungen in verschiedenen Marktsegmenten.

Gesamtgröße des Gewerbebaumarktes	1,37 Billionen US-Dollar
Marktanteil von Carrier im gewerblichen HLK-Bereich	18.5%
Jährlicher kommerzieller HVAC-Umsatz	6,2 Milliarden US-Dollar

Eigentümer von Wohnimmobilien

Carrier richtet sich mit verschiedenen HVAC-Produktlinien an Privatkunden.

Marktwert von Wohn-HVAC	92,5 Milliarden US-Dollar
Durchdringung des Wohnimmobilienmarktes von Carrier	22%
Umsatz mit Wohnprodukten	4,8 Milliarden US-Dollar

Industrie- und Produktionsanlagen

Carrier bietet spezialisierte HVAC- und Kühllösungen für Industriekunden.

• Gesamtgröße des industriellen HVAC-Marktes: 45,3 Milliarden US-Dollar
• Umsatz mit industriellen Lösungen von Carrier: 3,6 Milliarden US-Dollar
• Industriemarktanteil: 15,7 %

Gesundheits- und Bildungseinrichtungen

Spezialisierte HVAC-Lösungen für kritische Infrastrukturumgebungen.

Marktwert von HVAC im Gesundheitswesen	12,6 Milliarden US-Dollar
HVAC-Markt für Bildungseinrichtungen	8,9 Milliarden US-Dollar
Einnahmen aus dem institutionellen Markt des Carriers	2,7 Milliarden US-Dollar

Gastgewerbe und Einzelhandel

Carrier bietet umfassende Klimatisierungslösungen für Gewerbeflächen.

• HVAC-Markt für Gastgewerbe: 6,4 Milliarden US-Dollar
• Einzelhandelsmarkt für Klimatisierung: 5,2 Milliarden US-Dollar
• Hotel- und Einzelhandelsumsatz des Carriers: 1,9 Milliarden US-Dollar

Carrier Global Corporation (CARR) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Im Geschäftsjahr 2022 investierte Carrier Global Corporation 421 Millionen US-Dollar in Forschungs- und Entwicklungskosten, was 2,7 % des Gesamtumsatzes entspricht.

Jahr	F&E-Investitionen	Prozentsatz des Umsatzes
2022	421 Millionen US-Dollar	2.7%
2021	392 Millionen US-Dollar	2.5%

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten der Carrier Global Corporation beliefen sich im Jahr 2022 auf 3,8 Milliarden US-Dollar, wobei sich die Hauptaufteilung wie folgt darstellt:

• Direkte Arbeitskosten: 872 Millionen US-Dollar
• Rohstoffkosten: 1,6 Milliarden US-Dollar
• Fertigungsaufwand: 1,328 Milliarden US-Dollar

Globales Supply Chain Management

Die Betriebskosten der Lieferkette beliefen sich im Jahr 2022 auf insgesamt 1,2 Milliarden US-Dollar, mit geografischer Verteilung:

Region	Kosten der Lieferkette	Prozentsatz
Nordamerika	528 Millionen US-Dollar	44%
Europa	336 Millionen US-Dollar	28%
Asien-Pazifik	240 Millionen Dollar	20%
Andere Regionen	96 Millionen Dollar	8%

Marketing- und Vertriebsaktivitäten

Die Marketing- und Vertriebskosten der Carrier Global Corporation beliefen sich im Jahr 2022 auf 612 Millionen US-Dollar, was 3,9 % des Gesamtumsatzes entspricht.

Vergütung und Schulung der Belegschaft

Gesamte personalbezogene Ausgaben im Jahr 2022:

• Gesamtvergütung der Mitarbeiter: 2,1 Milliarden US-Dollar
• Leistungen an Arbeitnehmer: 486 Millionen US-Dollar
• Schulung und Entwicklung: 54 Millionen US-Dollar

Gesamtbetriebskostenstruktur für 2022: 7,712 Milliarden US-Dollar

Carrier Global Corporation (CARR) – Geschäftsmodell: Einnahmequellen

Vertrieb von HVAC-Geräten und -Systemen

Für das Geschäftsjahr 2023 meldete Carrier Global Corporation einen Gesamtnettoumsatz von 22,9 Milliarden US-Dollar. HVAC-Geräte und -Systeme machten einen erheblichen Teil dieses Umsatzes aus.

Produktkategorie	Umsatz (2023)	Prozentsatz des Gesamtumsatzes
HVAC-Systeme für Wohngebäude	6,3 Milliarden US-Dollar	27.5%
Kommerzielle HVAC-Systeme	8,7 Milliarden US-Dollar	38.0%

Wartungs- und Serviceverträge

Der Serviceumsatz von Carrier belief sich im Jahr 2023 auf etwa 4,5 Milliarden US-Dollar.

• Jährlicher Servicevertragswert: 750–850 Millionen US-Dollar
• Durchschnittliche Vertragsdauer: 3-5 Jahre
• Wachstumsrate wiederkehrender Serviceumsätze: 5,2 %

Aftermarket-Teile und Ersatzkomponenten

Der Umsatz mit Aftermarket-Teilen erreichte im Jahr 2023 3,2 Milliarden US-Dollar.

Teilekategorie	Einnahmen
HVAC-Teile für Privathaushalte	1,1 Milliarden US-Dollar
Kommerzielle HVAC-Teile	2,1 Milliarden US-Dollar

Technologielizenzierung und Beratungsdienste

Die Einnahmen aus Technologielizenzen beliefen sich im Jahr 2023 auf 280 Millionen US-Dollar.

• Anzahl aktiver Technologielizenzverträge: 47
• Durchschnittlicher Lizenzvertragswert: 6 Millionen US-Dollar
• Umsatz mit Beratungsdienstleistungen: 210 Millionen US-Dollar

Abonnements für Smart-Building-Lösungen

Intelligente Gebäudelösungen generierten im Jahr 2023 Abonnementeinnahmen in Höhe von 650 Millionen US-Dollar.

Abonnementtyp	Jahresumsatz	Anzahl der Abonnenten
Gebäudemanagementsysteme	420 Millionen Dollar	3.200 Unternehmenskunden
IoT-vernetzte Lösungen	230 Millionen Dollar	2.500 Unternehmenskunden

Carrier Global Corporation (CARR) - Canvas Business Model: Value Propositions

You're looking at the core offerings Carrier Global Corporation is pushing to the market as of late 2025, focusing on where they deliver distinct value to customers.

Sustainability: Solutions for decarbonization and energy transition (e.g., heat pumps).

Carrier Global Corporation is positioning its portfolio to meet aggressive environmental targets, including a commitment to achieve carbon neutrality in its own operations by the year 2030. This value proposition is heavily supported by the integration of Viessmann Climate Solutions, particularly in Europe, where heat pumps are a major focus.

• Carrier chillers within the QuantumLeap suite utilize sustainable refrigerants with a Global Warming Potential (GWP) of approximately 1.
• The company is supporting C40 Cities with a three-year U.S. $1.05 million grant to promote sustainable cooling solutions in buildings.

Intelligent Systems: Digital building automation and energy management (Viessmann One Base).

The value here is shifting from equipment sales to recurring revenue via digital platforms like the Viessmann One Base, which creates a system-and-software lock-in. This digital layer, combined with physical assets, helps customers manage energy use intelligently. The strength of the underlying business supporting this is evident in recent performance metrics.

Metric	Value (as of Q3 2025)
Commercial HVAC Sales Growth (Americas, Q2 2025)	45%
Commercial HVAC Sales Growth (Americas, Q3 2025)	30%
Total Company Aftermarket Sales Growth (Q2 2025)	13%

The focus on digital platforms, including Automated Logic automation and Nlyte DCIM, creates a base for regular service and subscriptions, which is a key part of the new business model.

Data Center Cooling: High-density, energy-efficient thermal management (QuantumLeap™).

Carrier is addressing the massive thermal demands of AI-driven computing with its QuantumLeap suite, offering an integrated 'chip to chiller' approach. This provides operators with solutions that maximize performance and energy efficiency in demanding environments. The market opportunity is substantial, and Carrier is scaling up to meet it.

• QuantumLeap solutions are reported to be 30% more efficient than prior generations of products.
• The global data center cooling market is projected to reach $20 billion by 2029.
• Carrier plans to double its commercial HVAC manufacturing capacity in North America by the end of 2025.

The platform includes liquid cooling via a Coolant Distribution Unit designed for direct-to-chip applications, enabling higher rack densities critical for AI workloads.

Cold Chain Reliability: Electrified transport refrigeration (Vector® eCool system).

For the cold chain, the value is in electrification, reliability, and sustainability for transporting temperature-sensitive goods like food and medicine. The Vector® eCool system is Carrier's all-electric offering in this space.

Market/Product Metric	Value/Projection
Global Refrigerated Trailer Market Size (2024 Est.)	USD 7.24 billion
Global Refrigerated Trailer Market Projection (2030)	USD 10.32 billion (CAGR 6.3% from 2025-2030)
Estimated Additional Cost of Vector eCool Unit	Approximately USD 30,000
Fleet Operators Using Telematics/IoT (Estimate)	Over 55%

The adoption of electric-powered units is gaining momentum, driven by environmental regulations, even with the higher initial capital outlay for systems like the Vector eCool.

Compliance with the 2025 A2L refrigerant replacement cycle in the U.S..

Carrier is ready for the mandatory replacement cycle in the U.S. for A2L-compatible systems, which is slated for 2025-2026. This readiness provides a clear value proposition to channel partners and end-users who need to transition their equipment to meet regulatory requirements without service disruption. The company's full-year 2025 sales are expected to be around $22 billion, supported in part by this regulatory-driven demand.

• The company's Q3 2025 adjusted EPS was $0.67, showing profitability even amid market shifts.
• The company expects full-year 2025 adjusted EPS of approximately $2.65.

This proactive product readiness helps customers avoid compliance risks and potential operational downtime.

Carrier Global Corporation (CARR) - Canvas Business Model: Customer Relationships

You're looking at how Carrier Global Corporation keeps its customers engaged and coming back for more, especially after that big Viessmann integration. It's not just about selling units; it's about the long tail of service and digital connection. Honestly, the numbers show a clear pivot to recurring revenue streams.

Dedicated direct sales teams for large commercial and industrial clients

For your biggest customers, Carrier leans on dedicated teams. This approach is clearly paying off in the commercial space. For instance, in the third quarter of 2025, Commercial HVAC sales in the Americas grew by a strong 30%. Considering the full-year 2025 sales projection is around $22.0 billion, that commercial segment growth is a significant driver of stability. This direct relationship is key for securing large, complex installations where the upfront sale is just the beginning.

Digital self-service platforms for installers and end-users (e.g., Viessmann One Base)

Carrier is pushing digital tools to make life easier for the people installing and using their equipment. The Viessmann portfolio brought in the innovative One Base digital platform, designed for home energy optimization. Beyond that, the digital service infrastructure is showing tangible results. Carrier's BluEdge™ Command Centers, which use AI-driven insights, handled more than 10,000 proactive service requests every month as of May 2025. They also support over 12,000 service technician calls monthly, speeding up repairs. If onboarding takes 14+ days, churn risk rises, so this digital speed is defintely important.

Long-term service contracts and aftermarket support for recurring revenue

The aftermarket business is the engine for predictable income. In the first quarter of 2025, global aftermarket sales saw an 8% rise. This segment is crucial because it commands better pricing power; it contributes approximately 30% to Carrier Global Corporation's total revenues and delivers about 20% higher margins compared to new equipment sales. That margin difference really moves the needle on overall profitability.

Aftermarket Metric (as of mid-2025)	Value/Amount	Context
Contribution to Total Revenues	30%	Aftermarket segment revenue share
Margin Premium over New Equipment	20% higher	Relative profitability
Global Sales Growth (Q1 2025)	8%	Year-over-year growth rate
Estimated Customer Cost Savings (2024)	More than $19 million	From BluEdge Command Centers

High-touch, consultative selling for complex data center cooling projects

For specialized, high-stakes environments like hyperscale data centers, the relationship shifts to deep consultation. Carrier is capitalizing on this by supporting a growing global commercial HVAC backlog driven by data center acceleration. This requires a consultative approach, blending product sales with advanced digital services like those bolstered by the ZutaCore and STL investments. The focus here is on delivering real-time operational optimization, not just hardware.

Finance: draft 13-week cash view by Friday.

Carrier Global Corporation (CARR) - Canvas Business Model: Channels

You're looking at how Carrier Global Corporation gets its products and services into the hands of customers, which is a mix of old-school distribution and modern direct engagement. Here's the breakdown of their channel strategy, grounded in the latest available figures.

Large, established independent wholesale distributor network (Americas HVAC).

Carrier Global Corporation leverages its extensive physical footprint to push product through established partners. Their local parts and distribution centers form part of what they describe as the largest HVAC distribution network in North America. While a precise count of independent wholesale distributors isn't public, the scale of this channel is implied by the overall market presence and the company's focus on this area.

Direct sales force for Commercial HVAC and Transport Refrigeration customers.

For the big commercial and industrial deals, Carrier relies on a dedicated, specialized sales force. This direct engagement is crucial for complex solutions. Here's a look at the scale of that team and the revenue it drives, based on recent reporting:

Sales Channel Category	Number of Representatives (as of 2023)	Annual Direct Sales Revenue (2022)
Commercial HVAC Sales	687	$4.2 billion
Industrial Solutions Sales	560	$3.1 billion
Total Direct Sales Force (Approximate)	1,247	$8.3 billion (Global Direct Sales, 2022)

The total B2B sales channels generated approximately $7.3 billion in annual revenue from direct commercial client interactions. Also, Commercial HVAC Americas sales grew 30% in Q3 2025, and data center revenue is on track to double to nearly $1 billion in 2025.

Direct-to-installer channel for Residential and Light Commercial (RLC) in Europe.

In Europe, the Residential and Light Commercial segment faces headwinds, but specific product lines show strength. For instance, in Q3 2025, heat pump sales saw growth of approximately +15% in Europe overall. However, the overall Europe RLC business is expected to be down mid-single digits for the full year 2025, reflecting soft market conditions, with some key markets like Germany at approximately 15-year lows.

Aftermarket parts and service network.

The service and aftermarket side is a key growth vector for Carrier Global Corporation, with management projecting double-digit aftermarket growth in 2025. This is supported by digital engagement, as Linx paid subscriptions reached approximately 210,000 in Q3 2025, up 40% year-over-year. The infrastructure supporting this includes:

• Technical support infrastructure with 3,642 certified technicians across 58 countries.
• Annual maintenance service contracts generating $1.9 billion in recurring revenue.

The company is definitely focused on expanding this recurring revenue stream, which helps buffer against new equipment sales volatility.

Carrier Global Corporation (CARR) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Carrier Global Corporation as of late 2025, right after they've completed a major portfolio cleanup. The numbers show a clear split: the commercial side is booming, while the residential market, especially in the Americas, is taking a real hit. Honestly, the company's full-year 2025 sales guidance is sitting around $22 billion, with adjusted earnings per share expected near $2.65, so they are navigating some choppy waters by leaning hard on their strengths.

The HVAC businesses, which make up about 85% of the total revenue base, are where the action is, but the performance varies wildly by customer type.

Commercial HVAC: Hyperscale data centers, commercial buildings, and infrastructure

This is the engine room right now. The focus here is on high-efficiency systems for large-scale projects, especially those feeding the digital economy. You saw this strength clearly in the Americas, where Commercial sales within the Climate Solutions Americas (CSA) segment grew an incredible 30% in the third quarter of 2025. Management specifically called out continued strength in the data center pipeline and backlog, which is a huge tailwind supporting this growth.

• Commercial sales in CSA grew by 45% in Q2 2025.
• Total company orders were up high-single-digits sequentially as of Q1 2025.
• Backlogs increased over 15% sequentially in Q1 2025.

European Residential & Light Commercial (RLC): Homeowners and small businesses, driven by heat pump demand

The European market, primarily covered by the Climate Solutions Europe (CSE) segment, shows a different picture. While they are pushing heat pumps, the segment faced volume headwinds. In the first quarter of 2025, CSE segment sales declined 10%, with organic sales down 7%. This was largely due to a low-double-digit decline in the Residential and Light Commercial categories, even though Commercial sales managed a mid-single-digit increase.

To be fair, the margin pressure was significant; the CSE segment operating margin decreased 390 basis points in Q1 2025, driven by that lower volume and mix.

North American Residential HVAC: Home builders and replacement market

This is the segment feeling the most pain from the current economic cycle. In the Americas, Residential sales were down about 30% in the third quarter of 2025. That steep drop was fueled by a roughly 40% decline in volume, though pricing and regulatory mix-up helped offset some of that loss. This weakness was the primary driver behind the overall company adjusted operating profit decline of 21% in Q3 2025.

Even in Q4 2024, North America Residential was up double-digits organically, so the drop-off in 2025 is a sharp reversal driven by destocking and housing market softness.

Transport Refrigeration: Global cold chain logistics for food and pharmaceuticals

This segment, Carrier Transicold (CST), is undergoing a structural shift following the divestiture of Commercial Refrigeration in Q4 2024. The segment's reported sales declined 20% due to that exit. However, looking at the core business organically, sales actually increased 6% in Q3 2025. The Container business within this segment was a standout performer, showing 50% growth.

Here's a quick look at how the segments stacked up in Q3 2025, based on the latest available segment operating profit figures:

Segment Description (Proxy)	Q3 2025 Net Sales (Millions USD)	Q3 2025 Organic Sales Change	Q3 2025 Segment Operating Profit (Millions USD)
Commercial HVAC (Part of CSA/CSE)	Data not explicitly broken out for Commercial only	Americas Commercial: Growth reported	Data not explicitly broken out for Commercial only
Residential & Light Commercial (RLC - Americas)	Implied in CSA sales decline	Americas Residential: Down roughly 30% (Volume down 40%)	Implied in CSA margin change
European RLC (CSE Segment)	Data not explicitly broken out for RLC only	Organic Sales: Down 7% (Q1 2025)	Segment operating margin decreased 390 basis points (Q1 2025)
Transport Refrigeration (CST)	Data not explicitly broken out for Q3 2025	Organic Sales: Up 6% (Q3 2025)	Segment operating margin increased 80 basis points (Q3 2025)

Finance: draft 13-week cash view by Friday.

Carrier Global Corporation (CARR) - Canvas Business Model: Cost Structure

You're looking at the expense side of Carrier Global Corporation's operations as of late 2025, which is heavily influenced by its portfolio transformation and the shift toward high-growth, high-tech climate solutions. Honestly, the cost structure reflects a company managing significant debt while pouring capital into future-proofing its technology.

High cost of goods sold (COGS) due to raw materials and component procurement.

The core of Carrier Global Corporation's costs remains tied to manufacturing the physical products-HVAC units, refrigeration systems, and components. Given the scale of operations, with Q3 2025 Net Sales at approximately $5.6 billion, the associated COGS is substantial, driven by the procurement of specialized raw materials and electronic components necessary for advanced, energy-efficient equipment.

Significant R&D investment for electrification and digital innovation.

Carrier Global Corporation is spending heavily to align with electrification and digitalization trends. Research and development expenses for the twelve months ending September 30, 2025, totaled $627 million. This investment is strategic, supporting innovations like the Home Energy Management System (HEMS) and QuantumLeap™ AI chillers. Furthermore, the company announced a $1 billion commitment over five years, starting in 2025, to expand U.S. manufacturing and accelerate R&D, including liquid cooling for data centers.

The company's commitment to sustainable R&D since 2020 has reached $1.6 billion, with a target of exceeding a $4 billion commitment by 2030.

Sales, General, and Administrative (SG&A) costs for a global distribution network.

Maintaining a sales and service footprint across the Americas, Europe, and Asia requires significant fixed and variable SG&A spending. This covers everything from managing global supply chains to supporting the sales force that services commercial HVAC backlogs and aftermarket demand. While specific 2025 SG&A dollar amounts aren't isolated here, this cost category scales with the ~$22 billion in expected full-year 2025 sales guidance.

Debt servicing costs on total debt of approximately $11.44 billion as of mid-2025.

Servicing the debt load is a major financial cost. As of mid-2025, the approximate total debt was cited around $11.44 billion. More precisely, total debt stood at $11.916 billion as of the third quarter of 2025, with long-term obligations making up about $11.336 billion of that total. This debt level, which represented 44% of total capitalization as of the first quarter of 2025, dictates substantial interest expense payments.

Manufacturing and labor costs for a global production footprint.

Beyond raw materials, the direct costs of running a global production footprint are significant. This includes factory overhead, depreciation, and the wages for the global labor force. The $1 billion U.S. investment announced in May 2025 is specifically earmarked to create 4,000 jobs in production, research, development, and field services over five years, indicating a planned increase in direct labor and facility-related costs to support domestic manufacturing capacity for heat pumps and battery assemblies.

Here are the key financial figures that define the scale of Carrier Global Corporation's cost base as of late 2025:

Cost/Metric Category	Financial Figure (2025 Data)	Reference Period/Context
Total Debt (Approximate)	$11.44 billion	Mid-2025
Total Debt (Reported)	$11.916 billion	Third Quarter 2025
Long-Term Debt	$11.336 billion	Quarter Ending September 30, 2025
Total Debt to Total Capitalization	44%	First Quarter 2025
Research & Development Expenses	$627 million	Twelve Months Ending September 30, 2025
Sustainable R&D Investment Since 2020	$1.6 billion	Cumulative
U.S. Investment in Manufacturing/R&D	$1 billion	Five-Year Commitment Announced 2025
Net Sales (Guidance)	~$22 billion	Full Year 2025 Expectation
Net Sales (Reported)	$5.6 billion	Third Quarter 2025

The major components driving the expense profile are:

• High procurement costs for specialized raw materials and components.
• Debt servicing obligations on over $11 billion in total debt.
• Capital expenditure supporting the $1 billion U.S. manufacturing and R&D push.
• Operating costs associated with the global footprint supporting ~$22 billion in annual sales.

Carrier Global Corporation (CARR) - Canvas Business Model: Revenue Streams

You're looking at the money-making engine for Carrier Global Corporation as of late 2025, which is heavily centered on climate and energy solutions following major portfolio shifts.

The official full-year 2025 reported sales guidance Carrier Global Corporation is targeting is approximately $22.0 billion. This figure was updated following Q3 2025 results, down from an earlier projection of $23.0 billion. For context, the Trailing Twelve Months (TTM) revenue as of November 2025 was reported around $22.46 billion, and the nine months ended September 30, 2025, generated $16.910 billion in net sales.

The core revenue streams flow from equipment sales across its primary product lines. This includes Commercial HVAC, Residential HVAC, and the remaining Transport Refrigeration units, though the latter has been significantly impacted by divestitures. The company is actively moving away from lower-margin businesses, so the mix is changing fast. Honestly, the Residential market has been a headwind, with volumes down about 30% in the Americas during Q3 2025.

The real strength is showing up in the high-margin Aftermarket Services, which covers parts, repairs, and maintenance contracts. You saw total company aftermarket sales increase by 13% in the second quarter of 2025. Carrier Global Corporation projects double-digit aftermarket growth for the full year 2025, which helps offset the cyclical nature of equipment sales.

For Software and Digital Subscriptions, which includes building management systems and energy optimization platforms, the direct revenue contribution isn't broken out as clearly in the top-line guidance. However, management emphasizes accelerating growth through system solutions, which implies a growing reliance on recurring digital revenue streams to complement the hardware sales.

Revenue from the Climate Solutions Americas segment (CSA) is definitely a major contributor to the overall top line, though its performance is mixed. For example, in Q2 2025, CSA sales were up 14% overall, but by Q3 2025, the segment saw an 8% sales decline. This volatility is key to watch; Commercial HVAC sales in the Americas surged 45% in Q2 2025, but that was followed by a steep 30% drop in Residential sales in Q3 2025.

Here's a quick look at how the segments performed in the third quarter of 2025 compared to the prior year:

Segment	Q3 2025 Net Sales Change (%)	Q3 2025 Organic Sales Change (%)	Key Driver/Context
Climate Solutions Americas (CSA)	(8%)	(8%)	Strong Commercial HVAC growth (up 30% in Americas) offset by Residential decline.
Climate Solutions Europe (CSE)	4%	(3%)	Surface-level increase masked underlying organic sales shrink.
Climate Solutions Transportation (CST)	Not explicitly stated	Not explicitly stated	Impacted by the Commercial Refrigeration divestiture.

You should also note the impact of portfolio changes on the segment reporting. The divestiture of the Commercial Refrigeration business in Q4 2024 created a sales headwind of about $750 million versus the prior year for the full-year 2025 outlook. This exit is why the Transportation segment saw sales decline by 25% in Q2 2025, even as its operating margin improved by 340 basis points due to shedding that lower-margin business.

To summarize the key revenue drivers and performance indicators from the recent quarters:

• Commercial HVAC sales in the Americas grew 45% in Q2 2025.
• Total company aftermarket sales grew 13% in Q2 2025.
• Q2 2025 total company organic sales growth was 6%.
• Q3 2025 total company net sales were $5.6 billion.
• The company expects adjusted EPS of approximately $2.65 for the full year 2025.

Finance: draft 13-week cash view by Friday.