Oman Oman: Oman recorded a 3.1% increase in non oil GDP in 2025, reaching US$74.5 billion compared to US$72.2 billion in 2024, according to data from National Centre for Statistics and Information. Non oil activities accounted for about 72.1% of total GDP, reflecting continued progress in economic diversification. The services sector remained the largest contributor, accounting for nearly 47.8% of GDP, supported by growth in financial services, transport, telecommunications a

Appoints Jyrki Martikainen as CEO Finalnd: Nordic Climate Group has appointed Jyrki Martikainen as CEO for Finland, effective 1 April 2026, as part of a planned and well-prepared succession process aimed at supporting the Group’s continued growth in the country. Ilpo Mäkelä, who has led the Finland operations since 2020, will transition to a Board role, contributing to long-term development. Commenting on the appointment, Fredrik Gren highlighted Martikainen’s strong leadersh

AC Industry Faces Weather Disruptions and Rising Costs Ahead of Peak Summer Season India: Air-conditioner manufacturers in India are proceeding cautiously as unseasonal rains across several regions disrupt the early summer demand cycle, which typically peak in March. The industry is also facing rising input costs due to geopolitical tensions in West Asia, leading to higher prices of raw materials such as plastics and reduced LPG supply impacting production. Manufacturers have

Villeroy & Boch Maintains Stability in FY2025 with Revenue Growth Despite Challenging Market Conditions Germany: Villeroy & Boch reported a resilient performance in 2025, with revenue rising 1.8% to EUR 1,447 million and operating EBIT reaching EUR 97.8 million despite weak construction activity and subdued consumer spending. The Bathroom & Wellness division grew 2.3% to EUR 1,124.5 million (3.4% currency-adjusted), supported by acquisitions including Ideal Standard, while ma

Indonesian Ceramic Industry Urges Reliable Domestic Gas Supply INDONESIA: Indonesian ceramic manufacturers are calling for stronger government measures to secure consistent natural gas supply, highlighting its critical role in sustaining production. Industry players are advocating for stricter implementation of the Domestic Market Obligation (DMO) policy, which would require gas producers to allocate a fixed share of output for domestic use. Producers warn that unreliable gas

Middle East Conflict and Gas Crisis Pressure Indonesian Industry INDONESIA: Indonesian industrial sector is facing mounting pressure due to the combined impact of escalating tensions in the Middle East and a domestic gas supply crisis. Disruptions in global energy markets have contributed to rising gas prices, while local supply constraints have further intensified the challenge for energy-intensive industries. These conditions have significantly increased production costs, p

UK Fast-Tracks Plug-In Solar Rollout Amid Iran War–Driven Energy Security Concerns UK: The UK government has announced plans to introduce plug-in solar panels into retail markets within months, allowing households to generate electricity without complex installation. These systems can be easily connected to standard sockets and placed on balconies or outdoor spaces, offering a low-cost entry into renewable energy adoption. The initiative is part of a broader push to strengthe

Home Depot’s SRS to Acquire HVAC Distributor Mingledorff’s UNITED STATES: The Home Depot’s subsidiary, SRS Distribution, has entered into an agreement to acquire HVAC distributor Mingledorff’s, strengthening its position in specialty trade distribution. The deal adds HVAC as a new vertical, enhancing offerings for professional customers and expanding the company’s total addressable market to approximately US$1.2 trillion. Mingledorff’s, operating across 42 locations in the so

AFPAC launched the Centre of Expertise for Heat Pumps FRANCE: AFPAC has launched CEPAC, a dedicated Centre of Expertise for Heat Pumps, as part of France’s national strategy to accelerate heat pump adoption. The initiative brings together key stakeholders across the building decarbonisation ecosystem and is designed to act as an independent technical body supporting large-scale, reliable deployment. CEPAC will focus on delivering practical guidance, validated data, and best p

Solar Water Heater Adoption In India For a majority of households, electric geysers win on upfront affordability and ease of installation, while solar water heaters win on lifecycle savings. Electric storage and instant geysers are available from around 3000 - 15000 INR, with minimal installation complexity, which fits the cash‑flow constraints of many urban and semi‑urban buyers. Solar systems, even after price declines, still involve higher capital expenditure and structura

Mitsubishi Electric Secures Multi-System Supply Contract for Jakarta INDONESIA: Mitsubishi Electric Corporation has obtained a significant contract through its Indonesian subsidiaries to supply key building systems for the Two Sudirman Jakarta development, a large mixed-use complex scheduled for completion by 2028. The scope includes elevators, escalators, air-conditioning systems, and hand dryers, reflecting an integrated infrastructure solution for a high-rise urban project

Sharp and Amber Enterprises Partner to Manufacture ACs in India INDIA: Sharp Business Systems India has entered into a strategic partnership with Amber Enterprises India to locally manufacture air conditioners, marking a significant step in expanding its presence in India’s rapidly growing cooling market. Production is set to begin in March 2026 at Amber’s facilities in Dehradun and Sri City, with plans to scale output to around 500,000 units over the next three years. The co

DPIIT and Blue Star Partner to Support HVAC and Manufacturing Startups INDIA: The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a memorandum of understanding with Blue Star to strengthen India’s manufacturing and innovation ecosystem by supporting startups in HVAC and related sectors. The collaboration focuses on enabling startups to develop scalable solutions across areas such as cooling technologies, digital systems, advanced manufacturing, and

Duravent Group Secures Growth Investment from Bain Capital UNITED STATES: Duravent Group has received a strategic growth investment from Bain Capital to support its next phase of expansion. Bain Capital will collaborate with the company’s leadership team and existing investor Egeria to strengthen Duravent’s market position and accelerate growth through both organic initiatives and acquisitions. Headquartered in Detroit, Duravent operates multiple brands across North America a

Saudi Fund Launches Social Housing Project in Djibouti SAUDI ARABIA: The Saudi Fund for Development has inaugurated a social housing project in Djibouti, reinforcing long-standing development cooperation between the two countries. Valued at over $30 million, the initiative involves the construction of 520 housing units aimed at improving living conditions for low-income communities. Beyond residential development, the project includes supporting infrastructure such as roads,

SWITZERLAND: The Swiss HVAC association ProKlima has officially become a member of Eurovent, marking a strategic step toward deeper integration with the European HVACR industry. ProKlima represents manufacturers and stakeholders involved in indoor climate technologies, with a strong emphasis on energy efficiency, innovation, and high-performance solutions. By joining Eurovent, Swiss companies gain enhanced visibility and a stronger collective voice in European-level policy di

Mr. Bricolage Reports Decline in 2025 Sales Performance FRANCE: French DIY retailer Mr. Bricolage reported a 3.3% year-on-year decline in turnover in 2025, with total revenue reaching approximately $2.45 billion (€2.11 billion). On a like-for-like basis, the decline was slightly steeper at 3.8%, while its store network contracted around 2% to 1,059 locations. Performance varied across regions, with international operations posting modest growth of nearly 2%, contrasted by a

Kitchen Faucet Trends in the United States USA: At the Kitchen & Bath Industry Show 2026 in Orlando, United States, kitchen faucet trends highlighted a strong shift towards simplicity, timeless design, and enhanced functionality. Manufacturers focused on sleek, minimalist aesthetics with cohesive finishes, while offering greater personalisation through multiple colour and material options. Touchless and hands-free technologies gained further traction, driven by convenience, h

Construction Labour Force Falls as Retirements Drive Workforce Decline CANADA: Construction employment and labour force levels fell by 50,600 workers over the year to January 2026, according to BuildForce Canada, mainly due to retirements among workers aged 55 and above. This group accounted for most of the decline, while the number of women in the workforce also dropped significantly. In contrast, younger cohorts showed growth, with 15 to 24-year-olds increasing by 2.3% (4,5

Job Changes Deliver Highest Pay Gains in Construction Amid Labour Shortages USA: Construction workers are achieving the strongest pay increases in the labour market by switching jobs, with a 6.6% wage premium over those who remain with the same employer, according to ADP Research. This trend reflects a structural shortage of skilled labour, particularly in trades such as HVAC, plumbing and electrical work. Retirements and a shrinking pipeline of experienced workers are intens

Sharp Decline in New Home Sales Amid Affordability Pressures USA: New single-family home sales in the United States fell by 17.6% in January 2026 to a seasonally adjusted annual rate of 587,000, reflecting weaker demand driven by high costs, adverse weather and ongoing affordability challenges. Although mortgage rates averaged around 6.1%, economic uncertainty, elevated construction expenses and tariff concerns continued to weigh on the market. Builders are increasingly offer

Construction Spending Falls in January Amid Decline in Residential Investment CANADA: Investment in building construction declined by 1.9% to $23.4 billion in January 2026, according to Statistics Canada. Residential spending fell by $504.3 million to $16.4 billion, mainly driven by a $255.2 million drop in the single-family segment, which was linked in part to weaker permit activity in the previous month. Overall, both residential and broader construction investment weakened

Korea District Heating Corporation Surpasses EERS Target with Record Energy Savings SOUTH KOREA: Korea District Heating Corporation has recorded its most significant milestone to date in energy efficiency improvement, reinforcing its role as a public energy provider. The company not only surpassed its targets under the Energy Efficiency Resource Standard (EERS) program but also expanded support to help reduce heating costs for vulnerable groups. The corporation, led by Presid

UK Launches Version 1 of Net Zero Carbon Buildings Standard to Guide Decarbonisation UK: The UK Net Zero Carbon Buildings Standard has launched Version 1 of its technical framework, offering a free resource designed to help the built environment demonstrate that assets are decarbonising in line with the UK’s carbon and energy targets. Developed collaboratively by organizations including CIBSE, BBP, BRE, Carbon Trust, IStructE, LETI, RIBA, RICS, and UKGBC, the voluntary standa