Samsung Electronics Reports Record Q2 Revenue and Operating Profit SOUTH KOREA: Samsung Electronics reported record Q2 2026 consolidated revenue of approximately US$118.9 billion and operating profit of around US$62.0 billion. While semiconductor products remained the primary growth driver, the Digital Appliances (DA) business recorded higher revenue supported by strong demand for air conditioners during the quarter. Despite cost pressures weighing on profitability, Samsung s

Alps Controls Expands HVAC Controls Portfolio Through Copeland Distribution Partnership UNITED STATES: Alps Controls has entered into a distribution agreement with Copeland to expand its portfolio of HVAC controls and temperature management products. The partnership adds Copeland's range of electronic temperature controllers, communicating and non-communicating thermostats, thermostat accessories, and protective enclosures to the Alps Controls online marketplace. The expanded

Mitsubishi Electric to Invest US$30 Million in Ohio IT Cooling Manufacturing Facility UNITED STATES: Mitsubishi Electric has announced plans to establish MEHITS US, Inc. in Mason, Ohio, to manufacture IT cooling equipment for the rapidly expanding U.S. data centre market. The company will invest approximately US$30 million to renovate and repurpose part of an existing manufacturing facility, with production scheduled to begin in April 2027. The new plant will strengthen Mitsu

Pentair to Acquire Taco Group for US$1.4 Billion to Expand HVAC Portfolio UNITED STATES: Pentair has announced plans to acquire Taco Group Holdings, the parent company of HVAC equipment manufacturer Taco Inc., in a transaction valued at approximately US$1.4 billion, subject to customary adjustments. The acquisition will strengthen Pentair's portfolio of water management solutions, increasing its exposure to high-growth markets including HVAC and data centres, primarily in Nor

Johnson Controls Raises FY2026 Outlook Following Strong Q3 HVAC Growth IRELAND: Johnson Controls delivered strong third-quarter fiscal 2026 results, driven by sustained demand for applied HVAC systems and mission-critical building solutions. Total sales increased 9% year-on-year to US$6.6 billion, while Applied HVAC remained the key growth driver across the Americas and Asia-Pacific. Organic orders rose 27%, and backlog reached a record US$21.0 billion, supported by continued

Ariston Group Confirms 2026 Outlook After Strong Q2 Revenue and Margin Growth ITALY: Ariston Group reported second-quarter 2026 net revenue of approximately US$797 million, up 7.4% year-on-year, driven by robust demand for heating products, particularly heat pumps. Adjusted EBIT increased 28.3% to around US$45 million, supported by margin expansion and operational efficiencies. For the first half of 2026, revenue reached approximately US$1.55 billion, while adjusted EBIT rose

Zehnder Group Reports Strong Ventilation Growth, Confirms 2026 Outlook SWITZERLAND: Zehnder Group reported first-half 2026 sales of approximately US$455.2 million, up 3% year-on-year, driven by strong demand in its ventilation business. Ventilation sales increased 7% to around US$313.7 million, accounting for 69% of total revenue, while adjusted EBIT rose 15% to approximately US$43.5 million, delivering a 9.5% margin. Net profit increased 2% to about US$27.5 million, despite

TCL Launches VoxIN JetMax Air Conditioner in UAE to Strengthen Home Appliance Expansion UAE: TCL has launched its VoxIN JetMax split air conditioner in the UAE, expanding its presence in the home appliance market with a product engineered for the Gulf’s extreme climate. Designed to perform in temperatures exceeding 45°C, the system features a Dual Jet Compressor capable of cooling a room from 35°C to 18°C in 30 seconds and maintaining operation in outdoor temperatures above 7

AO Smith Reports Stable Q2 Sales, Reaffirms 2026 Outlook UNITED STATES: AO Smith reported second-quarter 2026 net sales of US$1.0 billion, broadly unchanged from the previous year, while adjusted earnings per share declined 4% to US$1.03. North America sales increased 5% to US$821 million, supported by 3% organic growth, a 21% increase in boiler sales and a US$16 million contribution from the Leonard Valve acquisition. In contrast, Rest of World sales fell 19% to US$195 milli

Carrier Raises 2026 Outlook Following Strong Q2 Performance UNITED STATES: Carrier Global Corporation reported second-quarter 2026 revenue of US$6.35 billion, up 4% year-on-year, supported by strong global orders, particularly in commercial HVAC and data centres. Adjusted earnings per share reached US$0.86, while operating cash flow totalled US$927 million and approximately US$640 million was returned to shareholders through dividends and share repurchases. Despite margin pre

European Commission Unveils Electrification Plan to Accelerate Heat Pump Adoption EUROPE: The European Commission has published its Electrification Action Plan, outlining measures to accelerate electrification across the European Union and reduce dependence on imported fossil fuels. The strategy identifies efficient electrification as a key driver of energy security, industrial competitiveness, lower energy costs and decarbonisation. For the HVAC/R sector, the Commission conf

Trane Technologies Raises 2026 Outlook After Strong Q2 Results IRELAND: Trane Technologies reported strong second-quarter 2026 results, with revenue increasing 11% year-on-year to US$6.4 billion, supported by robust commercial HVAC demand and record bookings. Organic bookings rose 37%, while backlog reached a record US$12.1 billion, led by a 90% increase in Americas Commercial HVAC. Adjusted continuing earnings per share increased 11% to US$4.31. The company generated US$1.6

Heat pump UK: Britain's goal of meeting around 20% of its heating demand through low-carbon heat networks by 2050 could be at risk without stronger government support, according to a new report from the Heat Pump Association (HPA). The association is urging the government to introduce clearer regulations, targeted funding mechanisms and greater policy recognition for heat pump-led heat networks, arguing that the current regulatory and financial framework is insufficient to dr

HVAC Germany: Applications for government subsidies to install energy-efficient heating systems and heating support technologies in existing buildings reopened on 21 July 2026 through Germany's Federal Funding for Efficient Buildings (BEG) programme, administered by KfW. The updated scheme provides financial support for installing efficient heat generators or connecting properties to building or district heating networks. The revised funding framework aligns with the forthcom

Europe’s Heat Pump Market Returns to Growth as Demand Strengthens EUROPE: Europe’s heat pump market has entered a recovery phase after the slowdown experienced in 2023–2024, supported by higher gas prices, energy security concerns and continued EU climate policies. Preliminary data indicate that sales increased to 2.34 million units in 2025, with first-quarter 2026 sales rising by 17% year on year. Demand has been further strengthened by rising fossil fuel prices and increasi

Viessmann Launches New Heat Pump to Support Low-Carbon Heating GERMANY: Viessmann Climate Solutions has introduced a new generation of residential air-source heat pumps, expanding its portfolio of energy-efficient heating solutions. The latest system has been designed to improve installation flexibility, enhance energy performance and integrate with the company's intelligent energy management platform. By offering both heating and cooling capabilities, the product aims to hel

YKA and Interplast Form Strategic Partnership to Advance HVAC Solutions BAHRAIN: YK Almoayyed and Sons (YKA) has entered into a strategic partnership with Interplast, a subsidiary of the Harwal Group, to strengthen HVAC infrastructure development in Bahrain. The collaboration will combine YKA’s engineering expertise, project capabilities and distribution network with Interplast’s manufacturing of cable management systems and specialised materials. The partnership will focus o

Systemair Strengthens Canadian HVAC Business with Temspec Acquisition CANADA: Swedish ventilation manufacturer Systemair has acquired Temspec Incorporated, a Mississauga-based manufacturer of decentralised HVAC equipment, expanding its presence in the North American market. Temspec, which specialises in energy-efficient HVAC solutions for schools and multi-storey buildings, generated approximately US$ 20.6 million (CAD 29 million) in annual revenue and employs around 90 peopl

Coalition of 18 States Challenges EPA Rule Delaying HFC Refrigerant Transition U.S.: A coalition of 18 U.S. states, along with Washington, D.C., and New York City, has filed a lawsuit against the U.S. Environmental Protection Agency (EPA), challenging its May 2026 interim rule that raises the Global Warming Potential (GWP) limit for supermarket refrigeration systems and remote condensing units from 150/300 to 1,400 until 1 January 2032, delaying the original 1 January 2027 co

Panasonic Life Solutions India Reports 50% Growth in Residential Air Conditioner Sales During 2026 Summer Season India: Panasonic Life Solutions India reported a 50% year-on-year increase in residential air conditioner sales during the 2026 summer season, achieving its highest-ever seasonal sales in the country, driven by strong demand across metro, Tier II, and Tier III markets for premium inverter, connected, and energy-efficient air conditioners. Earlier this year, the com