
Toshiba Carrier is an HVAC business owned by Carrier Global Corporation (NYSE: CARR). The joint venture between Toshiba and Carrier was formed in 1999, and Carrier moved to full ownership of the Toshiba HVAC business in 2024. The unit sells Toshiba-branded residential and light commercial air conditioning and heat pump systems, primarily in Asia Pacific.
Parent Company
Acquired
2024
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Toshiba Carrier | Carrier Global Corporation | Subsidiary |
Toshiba's air conditioning history predates the joint venture by decades. The company began manufacturing air conditioning equipment in the 1930s and was a pioneer of inverter-driven compressor technology, which it introduced to room air conditioners in the early 1980s. Toshiba's inverter and variable refrigerant flow (VRF) innovations became industry standards.
Carrier and Toshiba formed Toshiba Carrier Corporation in 1999, combining Toshiba's air conditioning technology and Asian distribution with Carrier's global scale and refrigeration expertise. The venture manufactured residential and light commercial systems for the Japanese market and export, and Toshiba's VRF technology strengthened Carrier's light commercial lineup worldwide.
The 2020 separation of Carrier from United Technologies did not change the venture's structure. In 2022, Carrier increased its ownership to a controlling stake as part of its climate-focused portfolio strategy. In 2024, Toshiba agreed to sell its remaining stake, making the business wholly owned by Carrier while preserving the Toshiba brand under license.
Under full Carrier ownership, the business continues to develop ductless split systems, VRF systems, and heat pumps for Asia Pacific and export markets. Toshiba's compressor and inverter engineering, including its research center in Kawasaki, remains a technical asset for the parent company.
Is Carrier Global the same company as Carrier air conditioning?
Carrier Global Corporation is the parent company of the Carrier brand and related HVAC businesses. The company was spun off from United Technologies in April 2020 and now operates as an independent public company. The Carrier brand remains the flagship product line within Carrier Global's portfolio.
Is Carrier Global publicly traded?
Yes. Carrier Global Corporation trades on the New York Stock Exchange under the ticker symbol CARR. It is a component of the S&P 500 index and has no controlling shareholder.
When was Carrier Global founded?
Carrier Global became an independent public company on April 3, 2020, when United Technologies spun it off. The underlying Carrier enterprise was founded in 1915 by Willis Carrier and colleagues, and Willis Carrier invented the first modern air conditioning system in 1902.
What brands does Carrier Global own?
Carrier Global owns Carrier, Bryant, Payne, Viessmann, Toshiba HVAC, Automated Logic, Carrier Transicold, Heil, Day & Night, CIAT, and NORESCO, among others. The company divested its fire and security businesses and its commercial refrigeration unit during 2024.
What is Carrier Global's market position?
Carrier is one of the three largest HVAC companies globally alongside Trane Technologies and Daikin Industries. It holds the leading position in European residential heating through Viessmann and a leading share in North American commercial HVAC, where orders grew nearly 50% in the fourth quarter of 2025.
Who owns Carrier Global?
Carrier Global has no controlling owner. Its shares are publicly traded on the NYSE and held primarily by institutional investors, with Vanguard, BlackRock, and State Street among the largest shareholders.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Carrier Global | USA | 1904 | Premium | United states | All Genders | |
| Carrier Global | USA | 1902 | Premium | Global | All Genders | |
| Carrier Global | USA | 1914 | Mass market | United states | All Genders | |
| Carrier Global | Germany | 1917 | Premium | Europe | All Genders |
Conglomerates IndustrialOwned by Carrier Global Corporation
Premium residential heating and cooling brand founded in 1904, sold through factory-authorized dealers and owned by Carrier Global Corporation.
Conglomerates IndustrialOwned by Carrier Global Corporation
Flagship heating and air conditioning brand of Carrier Global Corporation, tracing to Willis Carrier's 1902 invention of modern air conditioning.
Conglomerates IndustrialOwned by Carrier Global Corporation
Value-tier residential heating and cooling brand founded in 1914, owned by Carrier Global Corporation and sold through independent dealers.
Conglomerates IndustrialOwned by Carrier Global Corporation
German heating and climate solutions brand founded in 1917, acquired by Carrier Global in January 2024 for approximately 12 billion euros.
Market Positioning: Toshiba Carrier competes with 4 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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