A Niche but Growing Segment India’s air conditioner market has long been shaped by the country’s intense summers, with cooling-only split ACs dominating residential and commercial spaces. As temperatures soar for much of the year, air conditioning has moved from being a luxury to a near-necessity in many urban households. However, rather than a broad market shift, a small but emerging niche is beginning to take shape. Reversible split air conditioners, which provide both coo

Ingersoll Rand Posts Solid First-Quarter 2026 Performance USA: Ingersoll Rand Inc. reported solid first-quarter 2026 results, with revenue reaching approximately $1.85 billion and adjusted earnings per share of $0.77. The company recorded net income of about $192 million and adjusted EBITDA of roughly $469 million, reflecting steady operational performance. Growth was supported by strong demand across key segments, particularly in precision and industrial technologies. Manage

GIFT City Expands District Cooling Network with Major Capacity Increase Plans INDIA: Gujarat International Finance Tec-City (GIFT City) is set to significantly expand its district cooling system, aiming to triple capacity to 30,000 TR by 2030. A new 10,000 TR plant in the SEZ, alongside upgrades to the existing network, will support this growth. Capacity is expected to reach 20,000 TR by 2028, serving around 55 buildings across commercial, residential and social infrastructur

Russia’s Economy Contracts for First Time in Three Years RUSSIA: Russia’s economy contracted by around 0.3% in the first quarter of 2026, marking its first quarterly decline since early 2023. The downturn was driven by a combination of factors, including Western sanctions, high interest rates, the ongoing war in Ukraine, and temporary effects such as a VAT increase and severe weather disruptions. Key sectors such as mining, manufacturing and retail showed weakness, while corp

BRG’s latest European bathroom & kitchen reports have now been released, covering the Czech Republic, France, Germany, Italy, the Netherlands, Poland, Russia, Spain, Sweden, Turkey and the UK, as part of our European bathroom & kitchen programme. Across these markets, demand in bathrooms and kitchens is increasingly shaped by renovation activity, layout optimisation and product substitution, rather than by expansion in housing stock or headline volume growth. As a result, per

IKEA Industry Goleniów Announces Workforce Reductions Poland: IKEA Industry has announced plans to reduce its workforce at its Goleniów facility in Poland, with around 160 employees potentially affected. The Goleniów District Labor Office has confirmed receipt of formal notification regarding the layoffs. Reports indicate that some local companies are already approaching affected workers with potential employment opportunities. The Goleniów plant, which employs approximately

Hansgrohe Reports Slight Decline in 2025 Financial Results Germany: Hansgrohe Group reported total sales of EUR 1.375 billion (USD 1.48 billion) in 2025, reflecting a decline of 0.9 percent compared to EUR 1.387 billion (USD 1.49 billion) in 2024. When adjusted for currency effects, sales recorded a slight increase of 0.9 percent. Operating profit decreased to EUR 185.9 million (USD 200 million), while EBITDA declined to EUR 243.6 million (USD 262 million). Margins also fell,

Waterline Limited Enters Administration Following Failed Sale UK: Waterline Limited has entered administration and will be wound down after efforts to find a buyer were unsuccessful. Founded in 1947, the company experienced growth in 2021 and 2022 but later faced a decline due to reduced consumer spending on home improvements, rising interest rates, and cost-of-living pressures. For the year ending March 2024, the company reported an operating loss of GBP 2.2 million (USD 2.7

Villeroy & Boch and Ideal Standard Present Design Continuum at Milan Design Week Italy: Villeroy & Boch and Ideal Standard have collaborated to present “Design Continuum” at Milan Design Week 2026. Developed in partnership with Studio Elastique, the installation is intended as a platform to explore how design influences perception and sensory experience. The concept focuses on rethinking the bathroom as a space shaped by materials, technology, and user interaction rather than

GROHE SPA Transforms Milan Theatre into Immersive Water-Focused Installation Germany: GROHE has presented the “Aqua Sanctuary” installation at Milan Design Week 2026, transforming the Piccolo Teatro Studio Melato into a multisensory space within 72 hours. The installation reflects the brand’s concept of “Wellbeing through Water” and explores the relationship between water, architecture, and human experience. It presents the bathroom as a space that extends beyond functionalit

Byggmax Reports Decline in First-Quarter Turnover Sweden: Byggmax reported a decline in turnover in the first quarter of the year. Total turnover reached SEK 880 million (EUR 81 million), representing a decrease of 5.3 per cent compared to the same period last year. On a like-for-like basis, turnover also declined by 5.3 per cent, while currency effects had a negative impact of 0.7 per cent. In Sweden, turnover amounted to SEK 632 million (EUR 58 million), reflecting a declin

Watsco US: Watsco Inc. reported revenue of US$1.53 billion for the first quarter of 2026, remaining broadly flat compared to the previous year, reflecting stabilising conditions in the HVAC distribution market. Gross profit stood at US$428 million, with operating income declining slightly to US$110 million, while net income reached approximately US$79 million. Earnings per share decreased to US$1.87, indicating marginal pressure on profitability despite steady pricing gains.