Csa was Carrier Global’s largest segment in fiscal 2025, bringing in $9.33B of $19.17B (49%).
| Segment | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Fire Security | — | — | — | — | ||||
| Hvac | $11.88B | — | — | — | ||||
| Refrigeration | $3.88B | — | — | — | ||||
| Csa | — | $1.08B | $1.10B | $9.33B | ||||
| Cse | — | $1.94B | $4.98B | $4.57B | ||||
| Cst | — | $3.82B | $3.48B | $2.67B | ||||
| Csame | — | $3.58B | $3.50B | $2.61B | ||||
| Total | $15.77B | $10.41B | $13.06B | $19.17B |
Carrier Global brought in $19.17B from its four segments in fiscal 2025, the year ended December 31, 2025. That is less than the $21.75B it reports by geography, so these segments do not cover all of its revenue. Csa was the largest at $9.33B (48.6%), ahead of Cse at $4.57B (23.8%) and Cst at $2.67B (13.9%). The remaining segment, Csame, brought in $2.61B.
Compared with fiscal 2024, Csa grew fastest, up 748.7% to $9.33B, while Csame fell the most, down 25.5% to $2.61B.
Carrier Global began breaking out Csa in fiscal 2023, Cse in fiscal 2023, Cst in fiscal 2023 and Csame in fiscal 2023. Carrier Global stopped reporting Hvac ($11.88B in fiscal 2022) and Refrigeration ($3.88B in fiscal 2022) as separate segments.
United States Operations was Carrier Global’s largest region in fiscal 2025, bringing in $11.14B of $21.75B (51%).
| Geography | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| United States Operations | $10.46B | $11.29B | $11.14B | ||||
| Europe | $3.91B | $6.69B | $6.09B | ||||
| Asia Pacific | $3.95B | — | $3.84B | ||||
| Other | $635.00M | $688.00M | $678.00M | ||||
| Total | $18.95B | $18.67B | $21.75B |
Carrier Global brought in $21.75B from its four regions in fiscal 2025, the year ended December 31, 2025. Carrier Global regrouped these regions after fiscal 2024, so the total does not compare directly with that year's $18.67B. United States Operations was the largest at $11.14B (51.2%), ahead of Europe at $6.09B (28.0%) and Asia Pacific at $3.84B (17.7%). The remaining region, Other, brought in $678.00M.
Compared with fiscal 2024, every region above 2% of revenue shrank. United States Operations held up best, down 1.4% to $11.14B, and Europe fell the most, down 8.9% to $6.09B. From fiscal 2023 to 2025, combined revenue from these regions grew from $18.95B to $21.75B, a compound annual growth rate of 7.1%. United States Operations' share of the total fell from 55.2% to 51.2%.
Product was Carrier Global’s largest product and service line in fiscal 2025, bringing in $9.33B of $10.47B (89%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Product | $14.73B | $8.54B | $7.61B | $9.33B | ||||
| Service | $2.42B | $1.08B | $3.60B | $1.14B | ||||
| Total | $17.15B | $9.62B | $11.20B | $10.47B |
Carrier Global brought in $10.47B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That is less than the $21.75B it reports by geography, so these lines do not cover all of its revenue. Product was the largest at $9.33B (89.1%), ahead of Service at $1.14B (10.9%).
Compared with fiscal 2024, Product grew 22.6% to $9.33B, while Service fell 68.2% to $1.14B.
Carrier Global (CARR) reports its revenue by segment, by geography and by product and service. In fiscal 2025, Csa was its largest segment, bringing in $9.33B (48.6% of the total), followed by Cse at $4.57B (23.8%).
Csa was Carrier Global's largest segment in fiscal 2025, bringing in $9.33B, or 48.6% of the $19.17B total across its four segments.
United States Operations was Carrier Global's largest region in fiscal 2025, bringing in $11.14B, or 51.2% of the $21.75B total across its four regions.
Product was Carrier Global's largest product and service line in fiscal 2025, bringing in $9.33B, or 89.1% of the $10.47B total across its two product and service lines.
Among Carrier Global's segments that make up at least 2% of revenue, Csa grew fastest in fiscal 2025, up 748.7% from $1.10B to $9.33B.
Every figure comes from Carrier Global's annual financial filings, as reported. Each line keeps the name Carrier Global gives it, and years follow its fiscal calendar.
Carrier Global's revenue by segment goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.