Clivet Operations at a New Heat Pump Facility in Italy Italy: Clivet has begun operations at a new 14,000 square metre heat pump plant in Feltre, Italy. The EUR24 million (approximately USD26.9 million) facility is intended to support rising international demand for commercial heat pumps and high efficiency air conditioning systems. The plant will manufacture several Clivet product ranges, including units using the R290 natural refrigerant and models for the US market. At ful

China’s Fiscal Revenue Growth Eases as Land-Sale Income Remains Under Pressure China: China’s fiscal revenue increased by 5.1% year-on-year to 17.2 trillion yuan (USD 2.58 trillion) in January-September 2026, compared with 5.7% growth in the January-August period, according to the Ministry of Finance. Tax revenue rose by 6.1%, while non-tax revenue increased by 1.2%. Fiscal expenditure grew by 1.0% during the first nine months, down from 1.2% growth in the first eight months.

Trane Technologies to Expand Heat Transfer Capabilities with Acquisition of Cancoil Canada: Trane Technologies has entered into an agreement to acquire Cancoil Thermal Corporation, an Ontario-based manufacturer of heat-transfer products. The deal covers Cancoil’s Canadian facilities, its growing manufacturing operations in Jacksonville, Texas, and a workforce of more than 450 employees. Cancoil produces fluid coolers, air-cooled condensers and customised finned-tube coils use

The Chill Brothers Acquires Bowles Heating and Cooling to Expand in West Texas USA: The Chill Brothers has acquired Bowles Heating and Cooling, a family-led HVAC company based in San Angelo, Texas, marking its tenth acquisition. Financial terms were not disclosed. Bowles provides residential and light commercial HVAC services to more than 14,000 customers across San Angelo and the Concho Valley. The company will retain its name and local leadership, with Nathan Bowles continu

Carrier to Acquire Air Temp to Expand HVAC Services in Upstate New Yorks USA: Carrier has signed an agreement to acquire Air Temp Heating & Air Conditioning, expanding its commercial HVAC services and controls operations across Upstate New York. Financial terms were not disclosed, and the transaction is expected to close in the coming months. Based in Binghamton, Air Temp also operates offices in Syracuse and Utica. The company provides HVAC repairs, preventative maintenance,

Panasonic Targets Two Million AC Units in India by FY28 After 50% Sales Growth India: Panasonic Life Solutions India reported a 50% year-on-year increase in residential air conditioner sales during summer 2026 and aims to expand manufacturing capacity to two million units by FY28. According to Yoshiyuki Kato, Managing Director and CEO, growth was supported by rising temperatures, increasing adoption of inverter technology and demand from tier II and tier III cities. The compa

Private Equity Leads Residential Services Acquisitions in 2026 USA: Private equity firms accounted for 60.5% of US residential services acquisitions announced or completed through 27 July 2026, according to Capstone Partners. The market recorded 223 transactions, down from 257 during the same period in 2025. HVAC, plumbing and electrical businesses represented 19.3% of deal activity. Private equity-backed buyers completed 27 of the segment’s 43 transactions. Investor interest

Milano by Danube Reports 250% Growth in International Sales UAE: Milano by Danube reported a 250% year-on-year increase in international sales and is targeting USD25 million in quarterly international revenue. The sanitaryware and building materials brand is expanding its distribution through its Global Direct strategy, introduced at the Canton Fair in April 2026. The strategy allows customers to place orders through Dubai and receive products directly from the company’s faci

Next Generation HVAC Design US: Oklahoma State University (OSU) and Trane are collaborating to develop computer models for next generation HVAC systems using refrigerants with lower global warming potential. The project aims to help engineers evaluate component designs, sizes and operating conditions before building physical prototypes, reducing development time and costs while maintaining equipment efficiency and affordability. The collaboration also includes a graduate stud

Carrier Announces $600 Million HVAC Investment US: Carrier Global Corporation announced plans to invest more than US $600 million over three years in a new manufacturing and engineering centre in Fort Worth, Texas, to meet growing demand for commercial HVAC equipment. The over 1-million-square-foot facility will expand production of air-cooled and water-cooled commercial chillers, supporting demand from data centres, healthcare, education and industrial markets. Operations ar

Cersanit Suspends Zviahel Ceramics Plant Following Repeated Russian Attacks UKRAINE: Polish bathroom products manufacturer Cersanit has decided to permanently cease production at its ceramics plant in Zviahel, Zhytomyr region, Ukraine, following repeated Russian attacks in September and October 2026. The shelling severely damaged the facility, including its buildings and production equipment, making repairs and safe operations unfeasible. Frequent air raid alerts, evacuations

President Lee Calls for Accelerated Public Housing Construction to Address Housing Shortages SOUTH KOREA: South Korean President Lee Jae Myung has directed government agencies to accelerate public housing development, aiming to begin construction on approximately 90% of planned homes in third generation new towns by 2030. The initiative seeks to shorten land preparation, permitting, compensation and construction timelines amid rising apartment prices and declining housing per

Economic Growth Accelerates CHINA: China's economy grew by 4.5% year on year in the third quarter of 2026, exceeding expectations as strong exports offset weak domestic consumption. Growth reached 4.6% during the first nine months, keeping the country on track to achieve its annual target of 4.5% to 5.0%. Industrial output increased 5.5% in September, supported by high technology manufacturing, electric vehicles and digital industries. However, retail sales rose only 1.1%, wh

Saudi Arabia Approves 19 Hospitality Projects Worth US$1.8 Billion to Boost Tourism Saudi Arabia: Saudi Arabia has approved 19 hospitality projects under its Hospitality Investment Enablers (HIE) Programme, attracting SAR6.7 billion (US$1.8 billion) in investment and expected to create more than 17,000 jobs across five tourism destinations. Announced by the Ministries of Tourism and Investment, the projects will add over 3,000 hotel rooms, with approximately 40% planned for c

NKBA’s 2027 Kitchen Trends Report Highlights More Defined Layouts, Wellness and Climate Resilience US: The National Kitchen & Bath Association (NKBA), representing nearly 55,000 North American kitchen and bath professionals, has released its 2027 Kitchen Trends Report, highlighting a shift towards zoned layouts, partial walls and semi-enclosed kitchens, alongside greater emphasis on wellness and climate resilience. The share of designers expecting kitchen footprints to increa

Greenwich Capital Partners Acquires Majority Stake in Australian HVAC Business AUSCOOL GROUP Australia: Mid-market private equity investor Greenwich Capital Partners has acquired a majority stake in Melbourne-based AUSCOOL GROUP, according to the Australian Financial Review. The transaction marks Greenwich Capital Partners’ entry into the heating, ventilation and air-conditioning (HVAC) sector, which has proved lucrative for US private equity firms. The purchase price, exact

Queensland’s US$1.56 Billion Infrastructure Fund to Unlock Land for Over 50,000 Homes Australia: Queensland, Australia, has opened applications for its US$1.56 billion (A$2.4 billion) Infrastructure Activation Fund to unlock development-ready land and support the delivery of more than 50,000 homes, including over 20,500 for first-home buyers. The Housing Industry Association (HIA) welcomed the initiative, which will provide grants and interest-free loans to accelerate essenti

BDR THERMEA Appoints Stephan Kreutzer as Managing Director of Its German Business Germany: BDR THERMEA has appointed Stephan Kreutzer as Managing Director of BDR THERMEA Deutschland, effective 1 November 2026, overseeing the BRÖTJE, REMEHA and SENERTEC brands. Kreutzer brings over 15 years of management experience in the building technology and industrial sectors, having held senior positions at Formel D Group, VIEGA and HAGER GROUP, most recently serving as Vice President Re

UL Solutions Expands HVACR Testing Facility in Texas USA: UL Solutions inaugurated its expanded HVACR Center of Excellence in Plano, Texas, on October 12, 2026, increasing testing capabilities for energy-efficient heating and cooling equipment, low-impact refrigerants and data center cooling technologies. The facility supports testing of heat pumps, air conditioners, chillers, VRF systems and coolant distribution units. New chambers simulate diverse temperature and humidity c

Second-Hand Air Conditioners Gain Popularity in the Philippines Ahead of El Niño PHILIPPINES: Demand for second-hand air conditioners is rising in the Philippines ahead of an expected strong El Niño, as consumers seek affordable cooling options. According to the ninth ASEAN Energy Outlook, up to 300,000 used units are sold annually, equivalent to roughly one-third of new-unit sales. Most are window-type models, often purchased because of their lower upfront cost. However, poo

Hitachi and Nojima Name New Home Appliance Company KADENOVA JAPAN: Hitachi Global Life Solutions has announced that its new home appliance company, established through a strategic partnership with Japan’s Nojima Corporation, will be named KADENOVA Corporation. Mikio Yamada, currently an executive managing director at Hitachi GLS, has been selected as its representative director. The company aims to begin operations during the fiscal year ending March 2027, subject to regulato

Saudi Economy Shows Resilience Amid Regional Conflict SAUDI ARABIA: Saudi Arabia’s economy remains resilient despite the ongoing Middle East conflict, supported by strong financial reserves, a well-capitalized banking sector and prudent economic policies, Saudi Central Bank Governor Ayman Al-Sayari said at the 2026 IMF and World Bank Annual Meetings in Thailand. He warned that regional instability was disrupting global trade, shipping routes, transportation and inflation, inc

Malaysia’s Economy Grows 5.3% as Government Advances Fiscal Reforms MALAYSIA: Malaysia’s economy is estimated to have grown 5.3% in the third quarter of 2026, following 6.0% growth in the previous quarter, according to the Department of Statistics Malaysia. Prime Minister Anwar Ibrahim attributed the country’s resilience to fiscal reforms, targeted subsidies and improved governance, with cumulative growth reaching 5.5% in the first three quarters. However, rising global oil p

Netherlands to Introduce Smart Hybrid Heat Pump Standard in 2029 NETHERLANDS: The Netherlands plans to make smart hybrid heat pumps the standard replacement for gas boilers from 2029 in homes not connected to district heating networks. The policy aims to reduce natural gas consumption and support the country’s transition to fossil-free heating by 2050. According to the government, hybrid heat pumps can reduce gas use for heating by around 65% and CO₂ emissions by over 30%. NE