Trane Technologies plc is a global climate innovator, bringing sustainable and efficient solutions to buildings, homes, and transportation. The company operates through strategic brands, Trane® and Thermo King®, offering a portfolio of products, services, and connected intelligent controls. Their core business model revolves around the design, manufacture, sales, and service of solutions for HVAC, transport refrigeration, and custom refrigeration. The company's growth strategy focuses on expanding recurring revenue through services and rental options. They have a global presence with operations in approximately 60 countries.

• Employees: Approximately 40,000 (as of December 31, 2023)
• Geographic Footprint: Approximately 60 countries
• Headquarters: Swords Co. Dublin, Ireland
• Founded: 2009
• Revenue: $17.68 billion (FY2023)
• Key Brands: Trane®, Thermo King®

• CEO: David S. Regnery (since July 2021)
• CFO: Christopher J. Kuehn (since July 2021)
• Chief Technology and Sustainability Officer: Paul A. Camuti (since January 2024)
• Chief Integrated Supply Chain Officer: Raymond D. Pittard (since January 2024)
• Senior Vice President and General Counsel: Evan M. Turtz (since April 2019)
• Senior Vice President, Supply Chain and Operational Services: Keith A. Sultana (since January 2020)
• Senior Vice President, Chief Human Resources Officer: Mairéad A. Magner (since January 2022)
• Group President, Americas: Donald E. Simmons (since January 2024)
• Vice President and Chief Accounting Officer: Mark A. Majocha (since December 2022)

• Annual Revenue: $17.68 billion (FY2023)
• Net Income: $2.04 billion (FY2023)
• Total Assets: $19.39 billion (as of December 31, 2023)
• Employees: Approximately 40,000 (as of December 31, 2023)
• Key Financial Highlights: Net revenues increased by 10.5% compared to the previous year.

Trane Technologies offers a wide array of products and services, including:

• Air Conditioners: Various types of air conditioning units for residential and commercial use.
• Air Handlers: Devices used to regulate and circulate air within HVAC systems.
• Chillers: Equipment used to cool fluids for large-scale cooling applications.
• Transport Refrigeration: Systems for temperature-controlled transportation of goods.
• Building Management Systems: Software and hardware for managing building operations.
• Energy Efficiency Programs: Services and solutions aimed at improving energy consumption.
• Parts and Supplies: Aftermarket and OEM parts for HVAC and refrigeration systems.
• Service Agreements: Maintenance and repair services for various systems.

The company operates under three reportable segments:

• Americas: Encompasses commercial and residential HVAC, building controls, energy services, and transport refrigeration systems and solutions. This segment had 2023 net revenues of $13.83 billion.
• EMEA: Includes heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions. This segment had 2023 net revenues of $2.40 billion.
• Asia Pacific: Includes heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions. This segment had 2023 net revenues of $1.44 billion.

Trane Technologies' strategy is focused on sustainability and innovation, with key initiatives including:

• 2030 Sustainability Commitments: Aims to reduce customer greenhouse gas emissions by a billion metric tons, achieve carbon-neutral operations, and promote diversity.
• Gigaton Challenge: A commitment to reduce customer greenhouse gas emissions by one billion metric tons.
• Leading by Example: Focus on achieving carbon-neutral operations across the company's own footprint.
• Opportunity for All: Building a diverse workforce reflective of the communities they serve.
• Innovation: Investing in research and development to create new products and improve existing ones.
• Growth: Expanding recurring revenue through services and rental options.

Trane Technologies operates in highly competitive markets, facing a variety of competitors that vary by product line and services. The company is one of the leading manufacturers in the world of HVAC systems and services and transport temperature control products and services. Key market trends include:

• Demand for Sustainable Solutions: Increasing global demand for energy-efficient and environmentally responsible products.
• Technological Advancements: Continuous innovation in HVAC and refrigeration technologies.
• Regulatory Changes: Evolving regulations and policies related to refrigerants and energy consumption.

• Economic Risks: Exposure to global economic conditions, including recessions, price instability, and currency fluctuations.
• Supply Chain Risks: Potential disruptions in the supply of commodities and third-party parts, as well as price increases.
• Competitive Risks: Intense competition in the markets they serve and the risk of disruptive technologies.
• Cybersecurity Risks: Vulnerabilities to cyber attacks and unauthorized security intrusions, which could disrupt operations and compromise data.
• Regulatory Risks: Changes in environmental regulations, trade policies, and tax laws that could adversely affect the business.