US Eco-Friendly HVAC Leader Loses 7 Trillion Won in Market Value in One Day

Trane Technologies plc (TT), the U.S. HVAC and refrigeration equipment maker, closed on the New York Stock Exchange at $407.13 on the 26th, down 6.19%. The one-day decline wiped roughly $5.2 billion off its market capitalization—about ₩7.1 trillion—leaving its total market value at approximately $90.1 billion (₩122 trillion). Trading volume for the day was about 1.09 million shares.

In its January 29 release of fourth-quarter and full-year 2025 results, Trane Technologies reported that organic orders rose 22% year-over-year and that its backlog reached a record $7.8 billion, up 15% from the end of the prior year. To accelerate its offerings in data-center cooling and energy-efficiency solutions, the company acquired LiquidStack, a data-center liquid-cooling provider, and Stella Energy Digital, which specializes in energy-system analytics, in February and March.

Legally headquartered in Swords, Ireland, Trane Technologies is a U.S.–Irish global climate-technology company and an S&P 500 constituent focused on commercial and residential heating, ventilation, air-conditioning (HVAC) and transport refrigeration systems. Its heritage dates back to Ingersoll Rand’s 1871 operations. After spinning off its industrial-tools division in 2020, the business reemerged under the Trane Technologies name, positioning itself as a leader in energy efficiency and decarbonization within the HVAC industry.