Le Froid Pecomark Belgium: Astorg backed IPCOM has announced plans to acquire a majority stake in Le Froid Pecomark, a France based distributor of refrigeration, heat pump and ventilation equipment. The company serves installers, contractors and OEMs across the HVACR segment and has built a nationwide presence. The proposed transaction is part of IPCOM’s strategy to expand its footprint in the European HVACR distribution market. Following completion, Spanish distributor Pecom

European Union Europe: Energy consumption in European Union households continued to decline in 2024, marking the third consecutive annual decrease. Total household energy use stood at 9.54 million terajoules, down slightly by 0.2% from 2023 levels. The residential sector accounted for 26% of total final energy consumption across the EU. Natural gas remained the largest energy source for households with a share of 29.4%, followed by electricity at 26.9% and renewables and biof

LG Electronics South Korea: LG Electronics said it plans to double its combined revenue from three key Global South markets, including India, Brazil and Saudi Arabia, by 2030. The company reported that revenue from these markets reached about US$4.3 billion in 2025, registering growth of over 20% compared with 2023 and outpacing overall global growth. The company identified India as a central market supported by strong demand conditions and relatively low penetration of home

Lloyd India: Havells India reported that its consumer appliances brand Lloyd recorded a decline in performance in FY2026 due to weak summer demand and elevated channel inventory. Revenue fell by 23% to US$411 million, compared to US$534 million in the previous year. The business reported a loss of about US$21 million against a profit in FY2025, as lower sales volumes led to underabsorption of fixed costs and reduced profitability. Despite the slowdown, Lloyd continued to expa

Systemair Sweden: Systemair AB released its year-end report for the period May 2025 to April 2026, showing moderate growth in sales and profitability despite currency headwinds. Net sales for the full year reached about US$1.31 billion, reflecting a 1.6% increase, while organic growth stood at 6.1%. Adjusted operating profit rose to about US$123 million, with the adjusted operating margin improving to 9.4%. Operating cash flow remained largely stable at about US$122 million.

UK Plumbing Supplies Acquires Fayers Enfield Trade Counter Assets UK: UK Plumbing Supplies has acquired the assets of Fayers Enfield, one of the trade counters previously operated by Fayers Plumbing & Building Supplies. In a letter to suppliers dated 8 June 2026, the company confirmed that Fayers Enfield has become part of its network and will operate under UK Plumbing Supplies’ commercial terms. The acquisition further expands the reach of the UK's largest independent plumbe

Vaillant Expands European Heat Pump SLOVAKIA: Vaillant has highlighted its commitment to Europe’s heating transition through its €120 million heat pump manufacturing facility in Senica, Slovakia. Fully operational since 2023, the plant is capable of producing up to 500,000 air-to-water heat pumps annually for major European markets. The 100,000-square-metre facility manufactures Vaillant’s latest R290-based heat pump ranges and employs around 600 people. Designed to support l

Valmet Enhances Gren Tartu District Heating Capacity ESTONIA: Valmet has secured an order from Gren Tartu to supply a flue gas condenser and heat pumps for the Tartu biomass heat and power plant in Estonia. The project will recover waste heat from flue gases and upgrade it for use in the district heating network, adding more than 10 MW of additional heating capacity. The solution is expected to improve energy efficiency, reduce fuel consumption and lower emissions while stren

India’s Economy and Government Finances Face Mounting Costs from Iran War INDIA: India's economy is coming under increasing pressure from the ongoing Iran war, which has disrupted global energy supplies and driven up oil and gas prices. As the world's third-largest oil importer, importing around 90% of its crude oil needs, India is particularly exposed to higher energy costs and supply disruptions, including constraints on shipments through the Strait of Hormuz. The Reserve

Bangladesh AC Demand Cools Amid High Inflation and Frequent Rainfall BANGLADESH: Bangladesh’s air conditioner market experienced a weaker-than-expected peak season in 2026, as frequent rainfall and persistent inflation dampened consumer demand. Industry participants reported that AC sales fell below expectations during April and May, traditionally the strongest months for purchases, with some retailers estimating a decline of around 30% compared with the previous year. Lower

Hisense India Expands Offline Presence in Andhra Pradesh and Telangana Through Sonovision INDIA: Hisense India has partnered with Sonovision to strengthen its offline retail presence across Andhra Pradesh and Telangana. Under the agreement, Hisense televisions, air conditioners and upcoming washing machine and refrigerator ranges will be available through more than 86 Sonovision outlets in the region. The move follows the launch of Hisense’s manufacturing facility in Sri City

Epack Durable Expects Double-Digit AC Growth INDIA: Epack Durable remains optimistic about its air conditioner and appliance businesses, forecasting double-digit growth despite expectations that the overall Indian AC industry could decline by 20–25% this season. The company said demand for cooling products was supported by heatwave conditions during April and May, while price increases linked to higher input costs have been successfully passed on to brand partners and consume