Watertec Targets Rapid Growth in CP & Sanitaryware Business India: Watertec India, backed by Warburg Pincus, is planning to significantly expand its chrome plated (CP) and sanitaryware segment, which is expected to grow 20–25% annually and reach about USD 48 million in topline within five years. The Coimbatore-based company reported revenues of around USD 60 million in FY26, with polymer bath fittings contributing 70%, pipes 20%, and CP & sanitaryware about 10% of topline. Th

Daikin Opens Multimillion-Dollar HVAC Facility in Christchurch New Zealand: Daikin has opened a new multimillion-dollar logistics site in Christchurch, with the Hornby facility becoming the largest HVAC warehouse in the South Island and supporting the shift toward electric, low-emission buildings. The site expands logistics operations, develops skilled workers, and includes a system to intercept residential and commercial heat pumps to recover and recycle refrigerants before

Xiaomi Expands In-House Home Appliance Production with New Wuhan Plant China: Xiaomi has begun in-house production of home appliances, opening its first dedicated plant in Wuhan with an investment of USD 350 million, covering 500,000 square meters and capable of producing up to 7 million units annually. The company plans to manufacture 20% of its air conditioners and other products internally and introduced a new air-conditioning system priced at about USD 7,000, matching riv

Late Summer Delays Air Conditioner Demand in South India India: A report by Axis Capital said a late start to summer has delayed the seasonal demand for room air conditioners (RAC) in South India by about 15 days, with industry sales declining 20% in January and around 10% in February. The upcoming rollout of Bureau of Energy Efficiency 2026 models is expected to raise 5-star AC prices by 10–12% and 3-star units by 6–7%, while inventories remain elevated but manageable. The n

AtmosZero Partners with R.F. MacDonald to Expand Electrified Steam Technology U.S.: AtmosZero announced a strategic commercial channel partnership with R.F. MacDonald Co. at the AHR Expo in Las Vegas to deploy modular electrified steam heat pump technology across engineering firms, end users, and commercial and industrial boiler rooms. The collaboration opens access to key emissions-reduction markets, leveraging R.F. MacDonald’s 70 years of experience serving Nevada and a maj

MHI Thermal Systems Establishes Air Conditioner Production Base in India India: On February 24, 2026, Mitsubishi Heavy Industries Thermal Systems, Ltd., part of Mitsubishi Heavy Industries, announced the launch of Mitsubishi Heavy Industries-IAPL Air Conditioners Private Limited, a joint venture with IAPL Group Private Limited that began operations on January 22 to establish a local air-conditioner production base in India. The move aims to strengthen the production and sales

Gurugram Overtakes Mumbai as India’s Largest Luxury Housing Market India: Gurugram has surpassed Mumbai to become India’s largest luxury housing market, recording transactions worth about USD 2.9 billion for homes priced at ₹10 crore and above in 2025, an 80% rise from about USD 1.61 billion in 2024, according to a joint report by India Sotheby’s International Realty and CRE Matrix. Meanwhile, Mumbai’s luxury segment recorded about USD 2.64 billion in 2025 compared with about

Nestoria Group Launches Large-Scale 3D Printed Housing Project in Dholera Smart City India: Nestoria Group has initiated a large-scale 3D printed housing development in Dholera Smart City, marking one of the broadest implementations of 3D construction technology in the region and positioning the city as a key hub for infrastructure transformation. The project supports India’s Viksit Bharat 2047 vision by accelerating construction timelines from months to days through automate

Union Government Approves 5,000 Houses for Displaced People in Manipur India: The Government of India has approved the construction of 5,000 houses for internally displaced persons in Manipur under the framework of Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) for FY 2025–26, following a proposal by Chief Minister Yumnam Khemchand Singh. The initiative comes after ethnic conflict between the Meitei and Kuki communities that began on May 3, 2023, which resulted in more than 260

Australia’s Total Construction Work Falls 0.7% Despite Growth in Building Activity Australia: Construction activity in Australia showed mixed performance in the September quarter, according to official data. Total construction work done fell 0.7% to USD 52.85 billion, while building work increased 4.0% to USD 28.84 billion and engineering work declined 5.8% to USD 24.01 billion. Meanwhile, the trend estimate for total construction work rose 0.7% to USD 52.12 billion during th

Centre approves construction of 2.88 lakh houses in urban areas under PMAY 2.0 India: The Government of India has approved the construction of around 2.88 lakh houses under the Pradhan Mantri Awas Yojana (Urban) 2.0, according to an official statement. With the latest approval of 2,87,618 houses, the total number of sanctioned homes under PMAY-U 2.0 has crossed 13.61 lakh units. The decision was taken during a meeting of the Central Sanctioning and Monitoring Committee, chair

Duravit’s Aurena Collection Wins GOOD DESIGN Award in Bath & Accessories Category U.S.: Duravit announced that its Aurena Collection, designed by award-winning architect and designer Antonio Citterio, has received the prestigious GOOD DESIGN Award in the Bath & Accessories category from The Chicago Athenaeum. The luxury bathroom series was recognized for its precise design language, premium materials, and forward-thinking innovation inspired by the Golden Ratio, delivering ba