In this article, we will take a look at the 5 biggest HVAC companies in the USA. If you want to see more companies in this selection, go to the 10 Biggest HVAC Companies in the USA.
5. Rheem Manufacturing Company
2021 Revenue: $3 billion
Rheem Manufacturing Company is an Atlanta, Georgia-based manufacturer of HVAC equipment for residential and commercial use founded in 1925. The corporation has the distinction of being one of the biggest producers of water heating products in the North American region.
Rheem Manufacturing Company places emphasis on sustainability as it is focused on developing a line of HVAC devices that will result in a 50% decline in the emission of greenhouse gas by 2025. Furthermore, the company intends to train 250,000 professionals on its sustainable products and best practices related to sustainable installation and recycling. Rheem Manufacturing Company also claims to save over 134 million gallons of water annually due to improvements in its factories.
4. Lennox International Inc. (NYSE:LII)
2021 Revenue: $4.19 billion
Lennox International Inc. (NYSE:LII) is a Richardson, Texas-based publicly listed manufacturer of HVAC equipment for residential and commercial purposes founded in 1895. The company also provides a wide variety of HVAC products to fulfill large commercial and industrial applications.
Lennox International Inc. (NYSE:LII) is known for its innovation in technology and design. The company’s variable speed and communication systems are designed to provide optimal performance. Lennox International Inc. (NYSE:LII) provides quality products in installments with no markup for six months and offers a rebate of up to $1,700. The company has a diverse range of product lines related to heating and cooling, comfort controls, indoor air quality enhancement, and other systems for its customers.
Millennium Management raised its stake in Lennox International Inc. (NYSE:LII) by 109% during Q3 2022.
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3. Ingersoll Rand Inc (NYSE:IR)
2021 Revenue: $5.15 billion
Ingersoll Rand Inc (NYSE:IR) is a Davidson, North Carolina-based market leader providing a wide range of cutting-edge and essential air, fluid, and energy solutions. The company is a pioneer in developing environmentally friendly and productive environments.
In order to provide excellent service and boost sales, Ingersoll Rand Inc (NYSE:IR), which serves clients from a variety of industries, focuses on the unique requirements and preferences of each market segment. In 2021, Ingersoll Rand Inc (NYSE:IR) posted revenue of $5.15 billion, reflecting an increase of 29.7% from last year.
Here’s what Artisan Partners said about Ingersoll Rand Inc (NYSE:IR) in its Q4 2022 investor letter:
“Ingersoll Rand Inc. (NYSE:IR) is a global market leader in a broad range of mission-critical flow creation technologies (pumps, compressors, etc.) for industrial and medical applications. Recent earnings results beat expectations and revealed record orders and revenues. Management also raised its full-year guidance for 2022, sending shares higher. Notably, orders within its largest segment were up 16% organically, driven by strong growth in compressors vacuums and blowers. We are cognizant of cyclical industrial risks in the quarters ahead but think Ingersoll’s compressed air technologies will remain in demand as customers seek to operate using less energy and water, while generating fewer emissions. We also continue to be impressed by management’s internal execution in areas such as acquisition integration, marketing lead generation, new product development and employee engagement.”
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2. Carrier Global Corporation (NYSE:CARR)
2021 Revenue: $11.39 billion
Carrier Global Corporation (NYSE:CARR) is a Palm Beach Gardens, Florida-based provider of HVAC equipment, as well as commercial and industrial refrigeration and food service equipment, founded in 1915.
The company has developed 100 new products for the seventh consecutive year and has more than 80 brands in its portfolio. Out of these 80 brands, 21 brands operate in the HVAC segment. Overall, Carrier Global Corporation (NYSE:CARR) is one of the world’s biggest and most reputable HVAC manufacturers and has a global presence with products and services sold in over 160 countries. Carrier Global Corporation (NYSE:CARR) products continue to be well-regarded for their reliability, efficiency, and long service life. The company has numerous clients in the data centers, education, entertainment, healthcare, hospitality, and retail industries.
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1. Trane Inc.
2021 Revenue: $14.13 billion
Trane Inc. is a Davidson, North Carolina-based HVAC equipment maker for residential and commercial purposes founded in 1885 out of La Crosse, Wisconsin. The company is a subsidiary of Ingersoll Rand Inc. (NYSE:IR), a diversified industrial company.
Trane Inc. is known for its innovative technology and engineering and producing energy-efficient and high-performance systems. The company’s Trane XL series is widely popular amongst customers as efficient central air conditioners designed to regulate temperatures evenly. The company has provided solutions to some of the world’s most renowned landmarks, like the Burj Khalifa tower in Dubai, the Moscow Kremlin, and New York’s Grand Central Station. Trane Inc is known for being one of the most distinguished brands in the HVAC industry and has more than 900 patents approved in the US as of 2023.
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