Csa was Carrier Global’s largest segment in fiscal 2025, bringing in $10.47B of $21.75B (48%).
| Segment | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Hvac | $13.41B | — | — | — | ||||
| Csa | — | $9.62B | $10.53B | $10.47B | ||||
| Fire & Security | — | — | — | — | ||||
| Cse | — | $1.94B | $4.98B | $5.04B | ||||
| Refrigeration | $3.88B | — | — | — | ||||
| Csame | — | $3.58B | $3.50B | $3.34B | ||||
| Cst | — | $3.82B | $3.48B | $2.89B | ||||
| Corporate & Other | -$3.00M | — | — | — | ||||
| Eliminations & Other | -$3.00M | — | — | — | ||||
| Total | $17.29B | $18.95B | $22.49B | $21.75B |
Carrier Global brought in $21.75B from its four segments in fiscal 2025, the year ended December 31, 2025. That was down 3.3% from $22.49B in fiscal 2024. Csa was the largest at $10.47B (48.1%), ahead of Cse at $5.04B (23.2%) and Csame at $3.34B (15.4%). The remaining segment, Cst, brought in $2.89B.
Compared with fiscal 2024, Cse grew fastest, up 1.2% to $5.04B, while Cst fell the most, down 16.7% to $2.89B.
Carrier Global began breaking out Csa in fiscal 2023, Cse in fiscal 2023, Csame in fiscal 2023 and Cst in fiscal 2023. Carrier Global stopped reporting Hvac ($13.41B 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 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| United States Operations | $10.00B | $10.46B | $11.29B | $11.14B | ||||
| Europe | $3.59B | $3.91B | $6.69B | $6.09B | ||||
| Asia Pacific | $3.09B | $3.95B | $3.82B | $3.84B | ||||
| Other | $610.00M | $635.00M | $688.00M | $678.00M | ||||
| Total | $17.29B | $18.95B | $22.49B | $21.75B |
Carrier Global brought in $21.75B from its four regions in fiscal 2025, the year ended December 31, 2025. That was down 3.3% from $22.49B in fiscal 2024. 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, Asia Pacific grew fastest, up 0.6% to $3.84B, while Europe fell the most, down 8.9% to $6.09B. From fiscal 2022 to 2025, combined revenue from these regions grew from $17.29B to $21.75B, a compound annual growth rate of 7.9%. United States Operations' share of the total fell from 57.8% to 51.2%.
Product was Carrier Global’s largest product and service line in fiscal 2025, bringing in $19.17B of $21.75B (88%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Product | $15.31B | $16.67B | $19.99B | $19.17B | ||||
| Service | $1.98B | $2.29B | $2.50B | $2.57B | ||||
| Corporate & Other | -$3.00M | — | — | — | ||||
| Eliminations & Other | -$3.00M | — | — | — | ||||
| Total | $17.29B | $18.95B | $22.49B | $21.75B |
Carrier Global brought in $21.75B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 3.3% from $22.49B in fiscal 2024. Product was the largest at $19.17B (88.2%), ahead of Service at $2.57B (11.8%).
Compared with fiscal 2024, Service grew 3.1% to $2.57B, while Product fell 4.1% to $19.17B.
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 $10.47B (48.1% of the total), followed by Cse at $5.04B (23.2%).
Csa was Carrier Global's largest segment in fiscal 2025, bringing in $10.47B, or 48.1% of the $21.75B 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 $19.17B, or 88.2% of the $21.75B total across its two product and service lines.
Among Carrier Global's segments that make up at least 2% of revenue, Cse grew fastest in fiscal 2025, up 1.2% from $4.98B to $5.04B.
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.