Housing Starts Ease in March 2026 Despite Stronger Year-to-Date Growth Trend CANADA: Housing starts in Canada declined by 6% in March 2026 to an annualised rate of 235,852 units, according to the Canada Mortgage and Housing Corporation. However, urban starts rose 10% year-on-year, while year-to-date activity increased 9% compared with 2025, indicating underlying resilience despite monthly volatility in construction activity. Source: Hardlines

Norcros UK: Norcros plc expects reported revenue to grow by approximately 10% to around GBP 393 million (about USD 490-495 million) for the financial year ending April 2026, compared to GBP 355.8 million (around USD 440-445 million) in the previous year. This growth is primarily supported by the acquisition of Fibo and market share gains, while like for like revenue growth remains limited at around 0.5%, reflecting subdued underlying demand. New build activity continues to re

Morbi Ceramic industry India: There are around 142 ceramic units in Morbi, Gujarat, that are currently operational following disruptions caused by global energy supply constraints. The sector was significantly impacted by volatility in liquefied natural gas supply linked to geopolitical tensions, which led to rising fuel costs and forced several units to suspend operations from mid-March. Prior to the disruption, about 377 units were using piped natural gas, while nearly 415

Ban on Natural Gas Appliance US: The San Francisco Bay Area Air District has mandated a phase-out of natural gas appliances, restricting water heaters from January 2027 and furnaces from 2029, impacting approximately 2.95 million households in the San Francisco Bay Area. The regulation targets nitrogen oxide emissions, although residential space and water heating contribute only around 5% of total emissions in the state, indicating a relatively limited share compared to tra

RAK Ceramics Maintains Operations and Pricing Amid Regional Conditions UAE: RAK Ceramics has stated that it will continue operations across the United Arab Emirates and the wider region without disruption, maintaining access across its retail and project channels. The company indicated that it will not increase prices despite ongoing geopolitical conditions, with a focus on maintaining product availability and service continuity for customers, partners and stakeholders. The c

Home Depot If its bid to acquire a leading wholesaler goes through, The Home Depot would rapidly emerge as a significant force in HVAC distribution. Its subsidiary, SRS Distribution Inc., recently revealed plans to acquire Mingledorff’s Inc., a Georgia-based distributor specializing in HVAC, plumbing, and electrical equipment and supplies. Currently privately held, Mingledorff’s operates 42 locations across five states in the South and Southeast and reportedly surpassed $1 bi

Room Air Conditioner Prices in India Rise 5% Compared to Last Year INDIA: Room air-conditioner prices in India are expected to rise about 5% this summer compared with last year, as manufacturers face higher input costs and tighter energy-efficiency regulations. Companies including Blue Star Limited said rising commodity prices, new energy labelling norms taking effect from January 2026, and global supply pressures are driving the increase. Industry executives estimate raw mat

Clas Ohlson Reports 11% Increase in Turnover SWITZERLAND: Clas Ohlson reported an 11% year-on-year increase in turnover for March 2026, reaching SEK 902 million (US$83.1 million). The Swedish home improvement retailer said 8% of the growth came from organic sales, while acquisitions contributed 2%, with no material currency impact. For the period from May 2025 to March 2026, total revenue rose 7% to SEK 11.6 billion (US$1.07 billion). Organic growth contributed 9%, acquisitio

Nero Tapware Secures Exclusive Australian Distribution Rights for American Standard Bathroom Solutions AUSTRALIA: Nero Tapware has been appointed the exclusive Australian distributor for American Standard, expanding its presence beyond tapware and bathroom accessories into broader bathroom solutions. The partnership strengthens Nero’s product offering in the Australian market by adding a globally recognized brand with more than 150 years of heritage in bathroom innovation and

New Ceramic Plant Set to Strengthen Ethiopia’s Domestic Production ETHOPIA: A new ceramic manufacturing plant in Ethiopia is set to begin production within three weeks, marking a significant boost to the country’s domestic building materials sector. Built by Baijia Ceramic Manufacturing in Tulefa, about 65 km from Addis Ababa, the facility was developed with an investment of US$50 million and spans 30 hectares. The factory is expected to produce between 35,000 and 50,000 squa

Carrier and ATuAire Partner to Expand Heat Pump Adoption in Spain SPAIN: Carrier Global’s Spanish unit and ATuAire have signed a strategic agreement to accelerate deployment of electric heat pumps across hotels, hospitals, industrial sites, multi-residential housing, sports centres, and other commercial buildings in Spain. The partnership combines Carrier’s HVAC technology and engineering expertise with ATuAire’s capabilities in project financing, energy-saving certificates,

India Allocates US$10.8 Billion Under Urban Challenge Fund to Accelerate City Projects INDIA: India has launched a major urban infrastructure push under its Urban Challenge Fund (UCF), with ₹900 billion (US$10.5 billion) of the ₹1 trillion (US$11.7 billion) fund earmarked to partially finance around 60 categories of city projects. These include infrastructure upgrades, old city revitalization, market redevelopment, flood prevention, waste recycling, and multi-level parking. H

China’s Q1 Recovery Faces Growing Risks as Iran War Clouds Global Outlook CHINA: China’s economy expanded 5.0% year-on-year in the Q1 of 2026, beating forecasts and placing growth at the top end of Beijing’s full-year target range. Strong exports drove the early-year momentum, but the Iran war has raised concerns over higher energy costs, supply chain disruptions, and weaker global demand. The conflict is already pushing up input prices for manufacturers. Peng Xin, general ma

Builder Confidence Falls in April 2026 as Costs, Interest Rates and Geopolitical Risks Weigh on Housing Market USA: Builder confidence in the single-family housing market declined sharply in April 2026, with the NAHB/Wells Fargo Housing Market Index falling four points to 34, its lowest level since September 2025. Current sales conditions dropped to 37, future sales expectations fell to 42, and buyer traffic declined to 22. Sentiment weakened due to high interest rates, risin

PT Aspirasi Hidup Indonesia Tbk Accelerates Expansion and Diversifies Portfolio in 2025 INDONESIA: PT Aspirasi Hidup Indonesia Tbk strengthened its retail footprint and diversified its business portfolio in 2025, marking a key year in its transformation strategy. The company opened 27 new AZKO stores, expanding into 15 new regions including eastern Indonesia, bringing its total network to 265 stores across 90 cities. It also launched a new affordable home and lifestyle brand,

Panasonic Vietnam Relaunches SANYO Air Conditioners for Mass Market Expansion VIETNAM: Panasonic Corporation’s Vietnam unit has launched the SANYO air conditioner range in Vietnam, marking a strategic move to broaden its product portfolio and target more price-sensitive consumers. The relaunch brings SANYO back to the Vietnamese AC market under Panasonic’s direct management, combining SANYO’s legacy brand recognition with Panasonic’s technology, quality control, after-sales s

France Unveils US$ 261 Million Electrification Plan to Cut Fossil Fuel Dependence FRANCE: France is accelerating efforts to electrify its economy as the Iran war underscores the risks of relying on imported fossil fuels. Prime Minister Sébastian Lecornu said the shift is now a matter of “national interest,” not just climate policy. The government aims to cut fossil fuel dependence from 60% to 40% by 2030 through wider adoption of electric vehicles, heat pumps, and clean power

South Korea to Launch 62,000 Public Housing Units This Year in Major Supply Push SOUTH KOREA: South Korea’s government plans to begin construction on 62,000 public housing units in the capital region in 2026, more than double the average annual starts over the past five years and the largest supply push since 2020. The move is aimed at offsetting weak private-sector construction caused by high interest rates and rising costs, while easing concerns over a potential housing sup

Heat Pump USA: With accelerating electrification and increasingly stringent building performance standards, ground-source heat pumps (GSHPs) are gaining renewed traction across the plumbing and mechanical sectors. Once considered a niche technology, these systems are now being actively evaluated for both residential and commercial applications where energy efficiency, lifecycle cost optimization, and sustainability objectives align. As highlighted by the U.S. Department of En

Retail sales USA: National Retail Federation projects that retail sales will grow by 4.4% in 2026 compared to 2025, reaching approximately $5.6 trillion. This forecast is based on a newly enhanced methodology developed in collaboration with Oxford Economics. The projected growth is higher than the 10-year average annual increase of 3.6%, excluding the pandemic-affected period from 2020 to 2022. Source: National Retail federation

Water heaters USA: Driven by sustainability targets and rising energy costs, electrification regulations are gaining traction across the U.S. For example, Colorado has introduced restrictions on new residential gas furnaces and water heaters, allowing only ultra-low nitrogen oxide emission systems or those meeting updated Energy Star standards. According to Chris Czarnecki, this move could serve as a template for other states pursuing ambitious electrification and decarboniza

Partnership USA: As electrification and more efficient energy use continue to grow, HVAC systems installed by contractors are increasingly acting as a link between homes and the power grid. This shift is reflected in the launch of a new coalition focused on maximizing grid efficiency without expanding infrastructure. Introduced on March 10, Utilize brings together major players such as Carrier, Google, Tesla, along with Renew Home, Sparkfund, SPAN, and Verrus, to enhance “gr

HVAC USA: Dual fuel HVAC systems, which combine electric heat pumps with fossil-fuel furnaces, are gaining traction as they offer year-round comfort and improved energy efficiency without requiring full electrification upfront. Recent advancements in cold-climate heat pump technology have further expanded their operating range, making these hybrid systems increasingly viable even in colder regions and strengthening their long-term relevance. Market trends indicate strong grow

Heat Pumps USA: Recent federal energy policy changes are introducing fresh uncertainty for HVACR contractors planning investments around electrification and energy efficiency incentives. The United States House of Representatives passed the Homeowner Energy Freedom Act with a 210–199 vote, a measure that seeks to repeal $5.7 billion in programs under the Inflation Reduction Act supporting home electrification rebates, contractor training, and building energy code adoption. Ac