Panasonic Outlines Growth Strategy for HVAC & Cold Chain Business

Panasonic Outlines Growth Strategy for HVAC & Cold Chain Business

Japan: Panasonic Group has outlined its growth strategy through 2032, identifying its newly established Panasonic HVAC & Cold Chain Company (HVAC & CC) as a key business supporting the expansion of its Solutions segment. Formed in April 2026 through the merger of Panasonic's Heating and Ventilation A/C Company and Cold Chain Solutions Company, HVAC & CC generates annual sales of approximately JPY 1,300 billion (USD 8.8 billion/EUR 7.5 billion) and employs around 30,000 people globally. The business provides heating, ventilation, air conditioning, indoor air quality, water heating, refrigeration, cold chain and environmental engineering solutions, with around 70% of its revenue generated from business-to-business (B2B) activities.

The company plans to expand its recurring revenue model by offering maintenance, remote monitoring, engineering and energy management services for equipment already installed at customer sites. Panasonic stated that HVAC & CC will focus on selected market segments where it expects stronger long-term demand, including indoor air quality, cold chain solutions, heat pumps and commercial HVAC systems. The company also expects operating profit to increase from just over JPY 33 billion (USD 224.4 million/EUR 190.8 million) in fiscal year 2026 to JPY 60 billion (USD 407.9 million/ EUR 346.9 million) in fiscal year 2027, supported by the expansion of its service-based business model.

Source: Panasonic