In this Research Note, we examine Daikin, the Japanese headquartered air conditioning manufacturer and the group’s North American strategy to strengthen its HVAC equipment and controls business for commercial and industrial buildings. Our article is based on their FY 2024 results, published 8th May 2025, investor presentations, press releases, and Memoori analysis.  It updates our previous Research Note in October 2023. Daikin Industries Ltd is the global No. 1 air conditioning manufacturer, with over 100 production sites, and ¥4,384.5 billion (around $29.7 billion) in 2024 air conditioning revenues across the 170 countries in which it operates.  In FY 2024, they reported air conditioning sales of ¥1,743.4 billion (around $11.8 billion) in the Americas. Currently, North America is Daikin’s largest regional market. Daikin is planning to accelerate its global business expansion, starting with the North American market, and establish leadership in the AI data center market. Daikin North American Acquisitions 2022 – 2025 In August 2025, […]