SCGD and Axent Switzerland AG Form Joint Venture to Produce Smart Sanitaryware in ASEAN Thailand: SCGD announced that its subsidiary, Siam Sanitaryware (SSW), has formed a joint venture with Axent Switzerland AG, with SSW holding a 51% stake and Axent 49%, supported by a registered capital and total investment of approximately USD 2.5 million (THB 80 million). The new venture will manufacture and assemble smart and tankless sanitaryware with an annual production capacity of 9

IKEA Opens Second Delhi City-Format Store to Strengthen Presence in Northern India India: IKEA is strengthening its presence in northern India with the opening of its second city-format store in Delhi at DLF Avenue, Saket, on 30 July, spanning 30,000 sq ft, marking its fourth city-format store in India after Mumbai, Pune and West Delhi. The outlet will offer nearly 3,000 products, with around 1,400 available for immediate takeaway and access to a catalogue of more than 6,900

SANIPEX GROUP Partners with Slimstock to Enhance Inventory Planning Across the UAE and GCC UAE: SANIPEX GROUP has partnered with Slimstock to enhance inventory planning across the UAE and wider GCC, supporting its continued growth as a luxury bathroom and sanitaryware distributor. Through the implementation of Slim4, the company will automate replenishment planning, improve supply chain visibility across its distribution centre and 12 showrooms, and optimise inventory managem

Portugal’s Immigration Curbs Deepen Construction Labour Shortage Amid Housing Crisis Portugal: Portugal’s tighter immigration rules have intensified labour shortages in the construction sector, where foreign workers account for around 30% of the workforce, even as the country faces a housing shortfall of 300,000 homes and plans to build 150,000 affordable homes by 2030 under a USD 10.3 billion (EUR 9 billion) EU-backed programme. Although construction employment increased by

Porto Business School Barometer Highlights Housing Supply Reforms as Key to Solving Portugal’s Housing Crisis Portugal: Porto Business School’s newly launched Housing Affordability & Public Policy Barometer found that 61.1% of real estate experts attribute Portugal’s housing crisis to a combination of structural and cyclical factors, while 31.5% view it as primarily structural and 6.5% as mainly cyclical. Experts identified housing supply shortages, slow permitting processes,

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

TA Global Partners With Gaggenau, Gessi and Laufen for CloutHaus Residences in Kuala Lumpur Malaysia: TA Global has signed memoranda of understanding (MoUs) with Gaggenau, Gessi, and Laufen to supply kitchen appliances, fittings, and sanitary ware for CloutHaus Residences, the residential component of its USD 708 million (RM3 billion) mixed-use development in Kuala Lumpur City Centre (KLCC). The agreements were formalised on 21 July at the CloutHaus Sales Gallery, with select

BDR Thermea Appoints Interim Leadership Team for German Operations NETHERLANDS: BDR Thermea has announced a temporary leadership change for its German business following the departure of Managing Director Erik Feijen, whom the company thanked for his contributions during a challenging period of transformation. Until a permanent successor is appointed, Aliëtte van der Wal-van Dijk, Chief Commercial Officer, and Luigi La Morgia, Chief Technology and Operations Officer, will joi

Hitachi Opens BuilMirai Experience Center in India to Showcase AI-Powered Smart Building Solutions INDIA: Hitachi, in collaboration with Hitachi Lift India and GlobalLogic, has inaugurated the BuilMirai Experience Center at GlobalLogic's headquarters in Noida, India. The facility serves as an innovation and customer engagement hub for BuilMirai, Hitachi's digital building management platform built around its HMAX for Buildings portfolio. By combining operational technology, a

Thailand Air Conditioner Exports to Europe Surge as Heatwave Boosts Demand THAILAND: Thailand's air conditioner exports to Europe are accelerating as prolonged heatwaves and rising cooling demand drive orders. According to the Trade Policy and Strategy Office (TPSO), Thailand exported US$149 million worth of air conditioners in May 2026, up 40.7% year-on-year, while exports reached US$784 million during January–May, an 18.9% increase. Reversible air conditioners with heat pum

Carrier Acquires 75F to Advance AI-Driven Intelligent Building Solutions UNITED STATES: Carrier Global has acquired 75F, a U.S.-based provider of cloud-native, AI-enabled building automation systems, strengthening its intelligent building portfolio. The acquisition enhances Carrier's capabilities across commercial buildings, data centers and retrofit projects by integrating 75F's wireless sensors, AI-powered controls and cloud platform with Carrier's WebCTRL®, Abound™ analyti

SPX Technologies Acquires Neptronic for US$430 Million to Expand HVAC Solutions Portfolio CANADA: SPX Technologies has completed the acquisition of Montreal-based Neptronic Inc. for approximately US$430 million in cash, strengthening its HVAC segment. Neptronic, which employs around 300 people, specializes in intelligent HVAC controls, electric duct heaters and humidification systems serving data centers, healthcare facilities and other commercial applications. The acquisitio

China's Fiscal Revenue Grows 4.7% in H1 2026 Despite Continued Property Market Weakness CHINA: China's fiscal revenue increased 4.7% year-on-year to approximately US$1.8 trillion in the first half of 2026, accelerating from 4.0% growth in January–May. Tax revenue rose 5.3%, while non-tax revenue increased 2.3%. Fiscal expenditure climbed 1.5% to around US$2.11 trillion as Beijing pledged continued support for investment and consumption through proactive fiscal policies. Howev

New Zealand Inflation Climbs to Two-and-a-Half-Year High in Q2 New Zealand: New Zealand's annual inflation rose to 4.1% in the second quarter, its highest level in two and a half years, exceeding both market expectations of 4.0% and the Reserve Bank of New Zealand's forecast of 3.9%. Quarterly consumer prices increased by 1.5%, compared with economists' expectations of 1.4%. Following the data release, expectations strengthened that the central bank could raise its official c

South Korea's Economic Growth Slows in Second Quarter South Korea: South Korea's economy is expected to have expanded by 0.4% in the second quarter of 2026, according to a Reuters poll of economists, slowing from the 1.8% growth recorded in the first quarter. On an annual basis, gross domestic product (GDP) is forecast to grow by 3.5%, compared with 3.8% in the previous quarter. Economists attributed the slower quarterly growth to weak domestic demand and consumer spending, d

UK Home Air Conditioner Demand Leads to Installation Delays UK: Demand for residential air conditioning systems has increased following two summer heatwaves, resulting in extended installation waiting times and supply shortages across parts of the UK. HVAC businesses in Somerset reported receiving a sharp rise in enquiries, with some installers fully booked until September or October due to limited product availability. Several companies stated that demand has exceeded expect

BDR Thermea Completes Acquisition of G.I. Holding Netherlands / Italy: BDR Thermea has completed the acquisition of 100% of Italy-based G.I. Holding, following its initial purchase of a 25% minority stake in the company in 2023. The acquisition expands BDR Thermea's presence in the commercial and industrial HVAC market and supports its Strategy 2030, which focuses on integrated heating and cooling solutions, connected technologies and after-sales services. G.I. Holding manufa

Panasonic Outlines Growth Strategy for HVAC & Cold Chain Business Japan: Panasonic Group has outlined its growth strategy through 2032, identifying its newly established Panasonic HVAC & Cold Chain Company (HVAC & CC) as a key business supporting the expansion of its Solutions segment. Formed in April 2026 through the merger of Panasonic's Heating and Ventilation A/C Company and Cold Chain Solutions Company, HVAC & CC generates annual sales of approximately JPY 1,300 billion

European Commission Unveils Electrification Plan to Boost Heat Pump Adoption The European Union: European Commission has published its Electrification Action Plan, placing heat pumps at the centre of its strategy to accelerate electrification and reduce reliance on fossil fuels. The plan targets annual heat pump installations of 4 million units by 2030, up from 2.4 million units in 2025. Proposed measures include improving the electricity-to-gas price ratio, ensuring electric

Nigeria Calls for Greater Adoption of Energy-Efficient Building Standards Nigeria: The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) Nigeria Chapter has called for wider adoption of international standards in heating, ventilation, air conditioning (HVAC) and building design, stating that energy-efficient buildings can reduce energy consumption in residential and commercial properties by up to 40%. During the investiture of the chapter's ne

US DOE Proposes New Rule to Reform Energy Efficiency Standard-Setting Process USA: The US Department of Energy (DOE) has proposed changes to its Process Rule governing how future energy efficiency standards are developed for appliances and equipment, including air conditioners and water heaters. The proposal would not repeal existing standards but aims to make future rulemaking more transparent by giving greater consideration to affordability, product availability, performanc

Voltas Leads Another Round of Air Conditioner Price Increases in India INDIA: Air conditioner manufacturers in India are preparing another round of price increases as elevated raw material costs and currency pressures continue to squeeze margins. Voltas raised AC prices by 2–3% in July, an unusual move during the monsoon off-season, with other brands expected to follow by increasing prices by a further 3–4% in the coming weeks. The latest revisions follow cumulative price inc

Ferguson to Acquire FloWorks in US$1.6 Billion Deal to Expand Industrial Distribution Business USA: Ferguson has agreed to acquire industrial distributor FloWorks from Wynnchurch Capital in a cash transaction valued at approximately US$1.6 billion, with completion expected in the third quarter of 2026, subject to regulatory approval. The acquisition will strengthen Ferguson’s position in industrial flow control by adding expertise in valves, valve automation and repair servic