Gaurs Group Plans US$ 27.3 million Investment in Precast Construction Facility in Noida INDIA: Gaurs Group has announced plans to invest US$ 27.3 million (₹2500 million) in establishing a precast manufacturing and modular construction facility in Noida. The investment follows a memorandum of understanding with Elematic India, part of Finland-based Elematic Group. In the first phase, around US$ 10.9 million (₹1000 million) will be used to build a precast plant that will produc

Mode London to Join E.ON’s Low-Carbon Heat Network in the City of London UNITED KINGDOM: E.ON has signed an agreement to connect Mode London to its district heat network in the City of London. The deal marks the first ‘sleeved’ heat supply from the Citigen Energy Centre and establishes a partnership expected to run into the 2040s. Through this arrangement, Mode London will receive low-carbon heating generated by ground source heat pumps at Citigen, helping improve the buildin

South Korean Firms Pause Middle East Operations Amid Rising Regional Tensions MIDDLE EAST: Major South Korean companies, including Samsung Electronics, Hyundai Motor Company and LG Electronics, have temporarily suspended parts of their operations in the Middle East as security concerns escalate following tensions involving the United States, Israel and Iran. The companies have prioritised employee safety by halting on-ground business activities in some areas and implementing

Government Incentives Drive Heat Pump Sales Growth Across Europe EUROPE: Preliminary data from the European Heat Pump Association shows that residential heat pump sales across 16 European countries increased by 11% in 2025, reaching around 2.63 million units compared with 2.38 million in 2024. The growth brings the total installed base in Europe to approximately 28 million systems. Twelve of the analysed countries recorded higher sales, largely due to stable subsidy programme

Rising Middle East Conflict Impacts Shipping, Oil Prices, and International Trade MIDDLE EAST: Rising geopolitical tensions and policy changes are creating fresh uncertainty in global trade. Escalation in the Middle East following US and Israeli strikes on Iran pushed oil and gas prices higher, with Brent crude briefly exceeding $82 per barrel. The situation has disrupted shipping through the Strait of Hormuz, a route carrying around 20% of global oil and LNG, while attacks a

U.S. Heat Pumps Growth Enters New Phase Amid Changing Incentives and Market Forces The U.S. heat pump market has entered a new phase, shaped by the expiration of federal incentives, rising state-level support, and evolving consumer preferences. While the Inflation Reduction Act (IRA) played a pivotal role in accelerating adoption through its generous tax credits and rebate programs, the conclusion of those federal incentives has affected market dynamics. Growth remains suppor

LG logo SAUDI ARABIA: LG Electronics is fast-tracking its growth strategy in key high-potential markets, with Saudi Arabia, India, and Brazil identified as major drivers of its medium- to long-term expansion. The company plans to double its combined revenue from these three countries by 2030 by introducing localized products, strengthening regional manufacturing, and adopting market-specific strategies.  Last year, revenue from these markets reached KRW 6.2 trillion (US$4.2 b

Green Energy GERMANY: Germany’s coalition government is facing criticism for stepping back from its climate commitments after agreeing to roll back key parts of a controversial heating law. The original law required most newly installed heating systems to run on at least 65% renewable energy, typically through heat pumps. Under the revised draft, however, homeowners will be allowed to continue using oil and gas-based systems.  The changes also remove the requirement for homeo

GDP INDIA: India’s economy expanded by a stronger-than-expected 7.8% in the quarter ending December, surpassing the 7.2% growth forecast in a Reuters survey of economists.  The latest figures follow a revision in the methodology used to calculate economic output, aimed at enhancing accuracy. Under the updated series, the previous quarter’s GDP growth has been revised upward from 8.2% to 8.4%.  The government has also increased its GDP growth projection for financial year 2026

Air con INDIA: Consumer electronics brand Acerpure, part of Taiwan-based Acer Group, plans to leverage insights from its growth in India to strengthen its presence in other emerging markets such as Philippines, Vietnam, Thailand, and Indonesia as part of its broader global expansion strategy, a senior company executive said on Thursday.  The company, which formally entered India’s air conditioner market after conducting test marketing last year, is also exploring export oppor

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