The world's biggest maker of air conditioners, Japan's Daikin Industries, said it has agreed to buy U.S. peer Goodman Global for $3.7 billion as it looks to increase its share of the U.S. market.

The mascot of Daikin Industries is pictured at Daikin's office in Tokyo, Japan, November 30, 2023. REUTERS/Sam Nussey Purchase Licensing Rights, opens new tab.

Japan's Daikin Industries, Ltd., plans to buy Houston, Texas-based Goodman Global Group Inc., a purchase that will fortify its status as the world's biggest maker of residential heating ...

Daikin hopes an increased focus on energy efficiency will be a tailwind for the company. The number of air conditioners globally is expected to more than triple to 5.6 billion units by 2050 ...