Carrier Global Corporation (CARR) and Lennox International Inc. (LII) are two prominent providers of heating, ventilation, and air conditioning (HVAC) systems. CARR provides HVAC, refrigeration, fire, security, and building automation technologies worldwide. It serves residential and commercial customers. In comparison, LII designs, manufactures, and markets a range of products internationally for the HVAC and refrigeration markets. It operates through three segments: Residential Heating & Cooling; Commercial Heating & Cooling; and Refrigeration.
Continued adoption of hybrid working and resumption of industrial activities have been driving the demand for HVAC products and solutions. Moreover, industries are increasingly using efficient HVAC systems to achieve their ESG goals. Rising demand and considerable investments in this industry have incentivized companies to manufacture automated and sustainable HVAC systems that consume low energy and reduce carbon emissions. The global HVAC market is expected to grow at a 4.4% CAGR to reach $198.10 billion by 2026. Therefore, both CARR and LII should benefit.
