Trane Technologies plc and its consolidated subsidiaries is a global climate innovator. The company is one of the leading manufacturers in the world of HVAC systems and services and transport temperature control products and services.
The company brings sustainable and efficient solutions to buildings, homes and transportation through its strategic brands, Trane and Thermo King, and its environmentally responsible portfolio of products, services and connected intelligent controls. The company g...
Trane Technologies plc and its consolidated subsidiaries is a global climate innovator. The company is one of the leading manufacturers in the world of HVAC systems and services and transport temperature control products and services.
The company brings sustainable and efficient solutions to buildings, homes and transportation through its strategic brands, Trane and Thermo King, and its environmentally responsible portfolio of products, services and connected intelligent controls. The company generates revenue primarily through the design, manufacture, sales and service of solutions for heating, ventilation and air conditioning (HVAC), transport refrigeration, and custom refrigeration solutions. As an industry leader with an extensive global install base, the company’s growth strategy includes expanding recurring revenue through services and rental options.
Segments
The company operates under three reportable segments: Americas, EMEA, and Asia Pacific.
The company’s Americas segment innovates for customers in North America and Latin America. The Americas segment encompasses commercial heating, cooling and ventilation systems, building controls and solutions, and energy services and solutions; residential heating and cooling; and transport refrigeration systems and solutions.
The company’s EMEA segment innovates for customers in the Europe, Middle East and Africa region. The EMEA segment encompasses heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions.
The company’s Asia Pacific segment innovates for customers throughout the Asia Pacific region. The Asia Pacific segment encompasses heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions.
Products and Services
The company’s principal products and services include the following: air conditioners; industrial process refrigeration; air exchangers; installation contracting; air handlers; lighting retrofit solutions; airside and terminal devices; medical-grade refrigeration solutions; air-sourced heat pumps; multi-pipe HVAC systems; asset management systems; packaged heating and cooling systems; auxiliary power units (electric and diesel); packaged rooftop units; building management systems; parts and supplies (aftermarket and OEM); bus air purification systems; rail refrigeration systems; bus and rail HVAC systems; rate chambers; chillers; refrigerant reclamation; coils and condensers; renewable energy and storage projects; cold storage units; repair and maintenance services; condensing units; rental services; container refrigeration systems and gensets; residential air filters; control systems; residential air filtration systems; controls contracting and commissioning; residential hybrid heating solutions; cryogenic refrigeration systems; self-powered truck refrigeration systems; data center HVAC systems; service agreements; decarbonization programs; smart and AI-enabled services; dehumidifiers; telematics solutions; ductless systems; temporary heating and cooling systems; energy and water efficiency programs; thermal energy storage; energy infrastructure programs; thermostats/controls & associated digital solutions; energy management services; trailer refrigeration systems (diesel, electric, and hybrid); energy recovery ventilators; transport heater products; energy storage (battery); truck refrigeration systems (diesel, electric, and hybrid); furnaces; ultra-low temperature freezers; geothermal systems; unitary systems (light and large); home automation; variable refrigerant flow systems; humidifiers; vehicle-powered truck refrigeration systems; HVAC performance-monitoring applications; ventilation; indoor air quality assessments and related products for HVAC and transport solutions; and water source heat pumps. These products are primarily sold under the company’s tradenames, including Trane and Thermo King.
Distribution
The company’s products are distributed by a number of methods, which are appropriate to the type of product. The U.S. sales are made through branch sales offices, distributors and dealers across the country. Non-U.S. sales are made through numerous subsidiary sales and service companies with a supporting chain of distributors throughout the world.
Operations by Geographic Area
Approximately 26% of the company’s net revenues in 2024 were generated outside the U.S. and the company sold products in approximately 100 countries.
Seasonality
Sales in the company’s commercial and residential HVAC businesses historically tend to be higher in the second and third quarters of the year (year ended December 2024) because this represents spring and summer in the U.S. and other northern hemisphere markets, which are the peak seasons for sales of air conditioning systems and services.
Research and Development
In 2024, the company spent $309.6 million on research and development.
History
The company was founded in 1885. It was incorporated in Ireland in 2009. The company was formerly known as Ingersoll-Rand Plc and changed its name to Trane Technologies plc in 2020.