Carrier Global to Build a Plant as Sri City Strengthens Role as India’s Cooling Hub INDIA: Carrier Air Conditioning and Refrigeration Ltd will invest about US$ 11 million (₹1,0000 million) in a new manufacturing facility in Sri City, reinforcing the region’s status as a major air-conditioning hub. The cluster already produces around 40% of India’s ACs, and industry estimates suggest this could rise to 60% by 2027 and 70% by 2028 as players such as LG Electronics and Daikin Ai

Watsco, Inc. Lifts Dividend and Margins Despite Tough HVAC Market USA: Watsco reported resilient 2025 results amid regulatory transitions and softer housing demand, delivering a record full-year gross margin of 28% and record fourth-quarter operating cash flow of US$400 million. Revenue slipped 5% to US$7.24 billion and EPS eased to US$12.25, reflecting lower HVAC unit volumes and higher operating costs tied to the A2L refrigerant shift. Even so, pricing optimisation and OEM

Carrier JV Targets Kenya’s Data Center Growth with Advanced Cooling Solutions KENYA: Gulf-based AHI Carrier FZC, a Carrier Global joint venture, has announced plans to enter the Kenyan market, aiming to capitalise on a rapidly growing demand for data centers and digital infrastructure in the region. The company’s regional business manager, Ajay Garg, said the move aligns with Kenya’s expanding digital economy and strong need for high-density, energy-efficient cooling technolo

Mitsubishi Electric Thailand: Mitsubishi Electric announced that its Thai subsidiary Siam Compressor Industry Co., Ltd. will be renamed Mitsubishi Electric Siam Compressor Industry Co., Ltd., effective April 1, 2026. The company develops, manufactures, and sells compressors for air conditioning and refrigeration equipment, supplying both Mitsubishi Electric group companies and other HVAC manufacturers in Thailand and international markets. Following the name change, products

Panasonic India: Panasonic expects India to become its largest global air-conditioner market within the next five to seven years, driven by strong demand growth and low household penetration. Only about 10% of Indian households currently own an air conditioner, compared with much higher adoption levels in China and Thailand. An executive stated that  ' India's room AC market is already No. 2 for us globally' and 'maybe in a five- to seven years' time frame, we will be the No.

Homepros US: Combined shipments of central air conditioners and air-source heat pumps fell significantly in 2025, totaling just over 7.7 million units compared with roughly 9.6 million units in 2024, representing a 20% year-over-year decline. In December alone, shipments reached about 408,000 units, down 21.4% year over year and marking the seventh consecutive month of declines exceeding 20%. The data covers both residential and commercial equipment. Comparisons with 2024 rem

RAK Ceramics Reports Higher Margins and Profit Growth in Q4 & FY 2025 UAE: RAK Ceramics delivered strong margin expansion and bottom-line growth in Q4 and FY 2025 despite market headwinds, supported by robust UAE real estate and construction activity and higher-margin project and premium product segments. Q4 2025 revenue declined 1.7% YoY to USD 233.2 million, while FY 2025 revenue rose 1.6% YoY to USD 893.1 million; gross profit margins improved to 39.1% in Q4 (vs 37.2%) and

Middle East Construction Costs to Rise 4% in Saudi Arabia and 3% in UAE in 2026 Saudi Arabia/UAE: Construction costs across the Middle East are set to increase in 2026, rising around 4% in Saudi Arabia and 3% in the UAE. In Saudi Arabia, activity will continue under Vision 2030 despite some project rephasing, with 4% cost escalation driven by imported and specialist materials, strong demand for Tier 1 and Tier 2 contractors, and skilled labour shortages; data centres and digi

RMIL Launches Country’s First Eco-Friendly Passivation-Polished Stainless Steel Kitchen Sink Bangladesh: RMIL a subsidiary of RFL Group, on February 7 introduced the country’s first eco-friendly passivation-polished stainless steel kitchen sink at the RFL head office in Badda, unveiled by Managing Director RN Paul. Manufactured using advanced molds, DDQ-grade stainless steel sheets and multi-stage deep drawing technology, the sink eliminates heat-based annealing, reducing ene

JEXSYS Launches 130°C High-Temperature CO2 Heat Pump for Asia–Pacific Industrial Applications Japan: JEXSYS, formerly Nihon Netsugen Systems, has introduced a high-temperature CO2 (R744) heat pump for the Asia–Pacific region capable of producing up to 130°C (266°F) pressurized hot water for industrial processing, featuring a standard heating capacity of 500kW (142.2TR) and a COP of 4.8, with flexibility for larger capacities. Unveiled at HVAC&R Japan 2026 in Tokyo, organized

NIBE Reports Stable Sales and Strong Profit Growth in Q4 & Full-Year 2025 Sweden: NIBE Industrier AB’s 2025 year-end report shows that net sales in Q4 2025 reached USD 975 million, flat year-on-year but up 6.8% at fixed exchange rates, while full-year net sales totalled USD 3.62 billion, up 0.8% (5.3% at fixed exchange rates). The company delivered higher profitability, with adjusted operating profit in Q4 rising to USD 127 million and an operating margin of 13.1%, compared t

Daikin–Rechi India Begins Construction of Rotary Compressor Manufacturing Facility in Andhra Pradesh India: Daikin–Rechi India on 11 February 2026 commenced construction of its rotary compressor manufacturing facility in Sri City, Andhra Pradesh, marking a major development for India’s HVAC sector. The joint venture, formed between Daikin Air-conditioning India, a wholly owned subsidiary of Daikin Precision, will invest approximately USD 65 million in Phase 1. Spread across 3