Global Hotel Construction Pipeline Reaches New High USA: The global hotel construction pipeline reached 15,976 projects comprising 2.43 million rooms in Q2 2026, according to Lodging Econometrics. The US led the market with 5,975 projects and 703,001 rooms, representing 37% of the global pipeline, followed by China with 3,588 projects. Together, the two countries accounted for 59% of the global pipeline. India recorded strong growth, reaching 1,033 projects, up 36% year on ye

Chinese air conditioning manufacturers are rapidly expanding their presence in Europe as rising temperatures drive demand for cooling, according to the European Council on Foreign Relations (ECFR).

Voltas Partners with Atomberg to Set Up AC Compressor Manufacturing Unit India: Voltas Ltd has signed a binding term sheet with Atomberg Innovation Ltd to establish a joint venture for the manufacture of high-efficiency compressors and related components for room air conditioners. The proposed facility will be located in Chennai, adjacent to Voltas’ existing air conditioner plant, with an initial capacity of around 2.8 million units. Voltas is expected to act as the anchor cu

Italy AC Market Shows Mixed Trends in First Half of 2026 Italy: Italy’s air conditioning market recorded a slight decline in the first half of 2026, with turnover reaching EUR 1,790 million (USD 1,950 million), reflecting a marginal contraction compared to the same period in 2025. Sales of mono and multi-split air conditioners declined in both volume and value, with monosplit units falling by 9.8% in volume and 7.8% in value, while multi-split systems declined by 5.5% in volu

RBM Enters US Market Through Messana Acquisition USA: RBM Group has entered the United States market through the acquisition of Messana Inc., which has been renamed RBM More Inc. The transaction establishes the company’s direct presence in North America and forms part of its international expansion. Messana, based in the United States, is involved in the design and supply of hydronic radiant systems for heating and cooling, including radiant ceiling solutions and HVAC control

Chinese AC Exports Gain Momentum in Europe Amid Heatwave Demand China/Europe: Chinese manufacturers have increased air conditioner shipments to Europe, supported by rising demand during recent heatwaves. Midea Group reported shipments of 200,000 portable air conditioning units in the first half of 2026, compared with total shipments for the whole of 2025. The company also recorded 160,000 new orders for its PortaSplit model from June onwards, with supply constraints reported

Duravit Appoints New President for Americas Operations Americas - Duravit has appointed Oliver Bleich as President of its Americas operations, effective 1 August 2026. He succeeds Bob Downie, whose tenure concluded in July 2026. The appointment forms part of the company’s plans to expand its activities in the region and strengthen its presence across residential and project segments. Bleich has held roles at Dornbracht, SieMatic and Keuco, and most recently served as Executiv

South Korea Expands Housing Supply Plan to Address Price Pressures South Korea: The government has announced plans to supply more than 230,000 additional homes in the Seoul Metropolitan Area as part of measures to address high housing prices. The initiative includes accelerating development on public land, utilising underused sites and supporting private sector projects. Around 100,000 homes will be developed through newly designated public housing districts, including projec

Kazakhstan Plans Social Infrastructure Focus Despite Budget Constraints Kazakhstan: Kazakhstan has outlined construction priorities for the 2027–2029 period, focusing on hospitals, rehabilitation centres and sports facilities, as part of its budget planning. President Kassym-Jomart Tokayev reviewed economic forecasts and instructed officials to maintain fiscal balance while meeting growth targets. The plan builds on ongoing national projects, including rural healthcare develo

India Housing Market Shows Mixed Trends Across Major Cities in Q2 2026 India: India’s residential real estate market recorded stable activity in the second quarter of 2026, with 79,361 units launched compared with 78,935 units in the same period last year, reflecting a 0.5% increase, according to NoBroker. Housing demand across six major metropolitan markets rose by 3% year-on-year, although performance varied significantly across cities. Pune reported a 70% increase in launc

Home Depot Express Delivery Service USA: The Home Depot has launched Express Delivery nationwide across the US, offering Pro and DIY customers delivery of eligible products within three hours or less for a small flat fee, with no membership required. The service uses more than 2,000 US stores as fulfilment hubs, strengthening the retailer’s supply chain and delivery capabilities. Customers can also access free same-day delivery on orders of $25 or more placed by 4 p.m. The co

Hardware store Ace Hardware Corporation reported second-quarter 2026 revenue of $3 billion, up 5.9% year-on-year, while net income increased to $155.6 million. U.S. retail same-store sales rose 1.1%, supported by a 3.1% increase in average transaction value, which more than offset a 1.9% decline in store transactions. The company also received $11.8 million in tariff refunds during the quarter. Source: Ace hardware

Samsung Samsung Electronics has completed a new HVAC manufacturing facility for its subsidiary FläktGroup in Pune, Maharashtra, establishing a production hub to serve customers across India and the wider Asia-Pacific region. The company held a completion ceremony for the facility, attended by Samsung Electronics Head of Digital Appliances Business Kim Cheol-gi, FläktGroup CEO David Dorney and more than 100 other officials. Built on a 13,826-square-meter site, the facility was

FläktGroup Inaugurates New Manufacturing Facility in Pune, India India: FläktGroup, a Samsung company, inaugurated a new 13,800-square-metre manufacturing facility in Pune, Maharashtra, including more than 12,000 square metres of production space, to strengthen its HVAC and critical cooling capabilities in India and across Asia Pacific. The facility will manufacture AHUs, Fan Wall Units, CRAH/CRAC solutions and heat exchangers, with annual capacity of approximately 6,500 unit

Justin Reinke to Succeed John Herrington as President of Midea America Corporation U.S.: Midea America Corporation (MAC) announced that Justin Reinke will succeed John Herrington as President, officially assuming the role on November 1, 2026, following a planned transition period with Herrington. Reinke joined Midea in 2024 as Head of Sales and became Head of Product Marketing in 2025, bringing more than 20 years of industry experience, including leadership roles at Samsung a

Philippine Economy Grows 2.3% in Q2 Amid Slower Economic Activity Philippine: The Philippine economy grew 2.3% year-on-year in the second quarter, below the 2.8% growth expected by economists in a Reuters poll and unchanged from the first-quarter pace. On a seasonally adjusted basis, GDP increased 0.6% quarter-on-quarter, down from 0.9% in the previous quarter. Annual inflation slowed for a third consecutive month to 6.2% in July from 6.4% in June, driven by slower transport

Japan’s Economy Expands 1.1% in Q2 2026, Below Expectations Japan: Japan’s economy expanded at an annualised rate of 1.1% in Q2 2026, easing from a marginally revised 1.9% growth in Q1 and below market expectations of 2.0%. Private consumption made no contribution to GDP amid elevated cost pressures, while government spending increased due to economic support measures. Capital spending declined further amid mounting geopolitical tensions, while net trade contributed positivel

Singapore Economy Expands 6.1% in H1 2026 Amid Strong AI Investment Singapore: Singapore’s economy expanded 6.1% year-on-year in the first half of 2026, supported by an accelerating global boom in artificial intelligence investment. In Q2, GDP grew 5.9% year-on-year, easing from 6.3% in Q1, while on a seasonally adjusted quarter-on-quarter basis, the economy expanded 1.4%, following 1.2% growth in Q1. The final Q2 growth figure was revised up from the advance estimate of 5.7%

German DIY and Garden Retailers See Adjusted Growth Despite Fragile Economic Conditions Germany: The DIY and garden retail sector recorded mixed performance in H1 2026 amid subdued consumer sentiment, rising inflation, and energy prices. Germany’s sales declined 0.4% YoY to EUR 10.99 billion (USD 12.73 billion), while Austria remained stable at EUR 1.63 billion (USD 1.89 billion; 0.0%) and Switzerland declined 1.4% to CHF 1.78 billion (USD 2.19 billion). Source: BHB Associati

House renovation USA: The NAHB State Projections of Remodeling (SPR) indicates continued momentum in U.S. remodeling activity, with California, Texas and Florida emerging as the largest state markets by remodeling expenditure, followed by New York and North Carolina. Meanwhile, Michigan recorded the strongest increase in remodeling spending, with notable gains also reported in Virginia, North Carolina, Alabama and Washington. The trend highlights sustained remodeling activity

Algeria SKD Legislation Algeria’s heating, ventilation and air conditioning (HVAC) industry is undergoing a major transformation, driven in large part by changes in the country’s regulatory environment. One of the major developments has been the introduction and enforcement of Semi-Knocked Down (SKD) legislation that has changed the way international and domestic manufacturers operate. With the enforcement of these regulations, more and more HVAC companies are partnering with

Ferguson Reports Stronger Second-Quarter Performance USA: Ferguson Enterprises reported solid results for the second quarter ended 30 June 2026, with sales rising 4.6% to US$8.8 billion. The company recorded strong growth in the non residential market and returned to growth in residential demand despite challenging market conditions. Ferguson completed five acquisitions during the quarter and agreed to acquire FloWorks, strengthening its technical distribution capabilities. T

Home Depot's SRS to Acquire Lohmiller, Expanding HVAC Network USA: SRS Distribution, a wholly owned subsidiary of The Home Depot, has agreed to acquire Lohmiller & Company, a Colorado-based wholesale distributor of HVAC equipment, parts and supplies. Financial terms were not disclosed. Founded in 1990, Lohmiller distributes Carrier’s residential, light commercial and applied HVAC products through four locations and employs around 220 people. The acquisition follows SRS’s rece

Saudi Ceramics Secures Pallet Supply Contract for Riyadh Warehouse SAUDI ARABIA: Saudi Ceramics Company has signed a US$ 0.8 million (SAR3.07 million) purchase order with Sadr Logistics Services Company to supply wooden pallets for a storage-system project at its central warehouse in Riyadh. The order forms part of a wider US$ 3.5 million (SAR13 million) project, taking the total value of contracts between the companies to US$ 4.3 million (SAR16.07 million), excluding VAT. Th