Trane Technologies plc has been given a Buy rating by UBS due to its strong position in the air conditioning equipment market.
The company specializes in designing, manufacturing, and marketing heating, ventilation, and air conditioning systems. Trane primarily operates under the Trane and Thermo King brands. The majority of Trane's revenue comes from equipment sales, which make up 67.7% of net sales. Services and spare parts contribute the remaining 32.3%.
Trane Technologies has 39 production sites worldwide, with a significant focus on the Americas, which account for 78.2% of net sales. The company also has a presence in Europe, the Middle East, and Africa at 13.6%, and in the Asia-Pacific region at 8.2%.