Thailand's Rise as Global Export Powerhouse for Air Conditioners Thailand has emerged as ASEAN's leading air conditioner (AC) export powerhouse, producing around 21 million units in 2024 and ranking as the world's third-largest exporter after China and Mexico (marginally behind Mexico by value). Thailand’s export revenues hit approximately 7 billion USD in 2024, with over 19 million units shipped globally. Key production clusters thrive in Thailand's Eastern Economic Corridor

Italy’s HVAC Market Shifts Focus Amid Economic Slowdown Italy: Italy’s HVAC market closed 2025 at a turning point, shaped by reduced construction incentives, cautious consumer spending and ongoing energy transition requirements. The installation sector has undergone gradual consolidation, with the number of active companies declining over recent years, reflecting a broader structural adjustment. Air conditioning remains central to the transition towards higher energy efficien

SMUD Increases Rebates for Residential Heat Pump Installations United States: The Sacramento Municipal Utility District (SMUD) has announced higher rebate levels for residential heat pump installations, effective this month, following the expiry of federal tax credits on 31 December 2025 and the exhaustion of state incentive programmes. Under the revised scheme, customers can receive up to USD 4,000 (EUR 3,680) for converting gas systems to electric heat pump water heaters, u

Indian AC Manufacturers Shift Towards Aluminium Amid Rising Copper Costs India: Air-conditioning and refrigeration manufacturers in India are shifting towards aluminium as rising copper prices and updated energy efficiency requirements increase production costs. Industry representatives indicated that copper prices have risen by nearly 18 per cent, driven in part by higher global demand, including from data centres. Prices have increased from around USD 800 (EUR 736) to appro

End of Federal Tax Credit Deals Setback to U.S. Residential Geothermal Market USA: The removal of a federal tax incentive for residential geothermal projects has dealt a setback to the industry. However, stakeholders remain optimistic due to emerging approaches to address cost barriers and system ownership, along with growing opportunities in the commercial geothermal sector. The Residential Clean Energy Credit, commonly referred to as the Section 25D credit , previously prov

HARDI Welcomes House Approval of Bill to Repeal Regional Standards Installation-Date Requirement USA: On Feb. 24, the United States House of Representatives passed the Don’t Mess with My Home Appliances Act by a vote of 217–190 with bipartisan support. Heating, Air-conditioning & Refrigeration Distributors International (HARDI) welcomed the move, which aims to eliminate the use of the installation date as the compliance deadline for regional energy efficiency standards. Under

Lowe’s Reports Strong Fourth Quarter Sales Performance USA: Lowe’s Companies posted solid sales results in the fourth quarter of fiscal 2025, with total sales rising to about $20.6 billion and comparable store sales increasing by 1.3 % year‑on‑year, driven by growth in professional, online and home services channels, along with robust holiday‑season demand. Management highlighted that the company’s “Total Home” strategy resonated with both professional contractors and DIY cus

Southeast Asia's Smart Bathroom Market On The Move Southeast Asia is emerging as one of the fast-growing smart bathroom markets in Asia, fuelled by urbanisation, rising incomes and growing interest in health, hygiene, and connected living. Smart toilets, digital showers, and integrated mirrors are evolving from luxury items to aspirational mid-market products, intensifying competition among Japanese and European giants facing agile Chinese, Korean, and local ASEAN players. As

Market Update from Home Depot’s Leading Merchant USA: The latest market update from HBS Dealer features insights from Billy Bastek, Home Depot’s top merchant, on current retail trends and industry performance. Bastek discusses both positive and challenging aspects of the home improvement market, noting areas where the retailer has innovated while also acknowledging ongoing pressures faced by the sector. Key topics include how Home Depot is adapting merchandising strategies to

NKBA 2026 Review of the Association and Industry Outlook USA: At the National Kitchen & Bath Association’s (NKBA) 2026 annual meeting, Global President and CEO Bill Darcy reflected on a challenging 2025 for the kitchen, bath and remodeling industry, citing issues like tariffs, rising building material costs, a persistent labour shortage, and housing constraints that dampened growth and consumer confidence. Despite these headwinds, NKBA has strengthened its advocacy role, expa

Oregon Mandates Heat Pumps for New Homes Under Updated Energy Code USA: Oregon has introduced a requirement for new homes to install heat pumps instead of ducted air-conditioning systems, highlighting a broader push by states toward electrification to help reduce energy costs. On Feb. 19, the Oregon Building Code Division’s Residential and Manufactured Structures Board approved a series of updates to the state’s residential energy code. One of the key changes requires new res

Home Depot Posts Slight Comparable Sales Growth as Market Shows Stability USA: The Home Depot, the world’s largest home improvement retailer, reported $38.2 billion in sales for its 13-week fourth quarter ended 1 February 2026, down 3.8 % year‑on‑year due to an extra week in the prior-year period. U.S. comparable‑store sales rose 0.3 %, while net earnings fell 14.2 % to $2.6 billion. For the full year, total sales reached $164.7 billion, up 3.2 %, with net earnings of $14.2 b

Reece Group Announces HY26 Results Amid Challenging Market Conditions Australia: Reece Group has reported its results for the first half of the 2026 financial year, reflecting housing market conditions across its operating regions. Group sales revenue increased by 6 per cent to AUD 4,648 million (USD 3,068 million), compared with AUD 4,402 million (USD 2,905 million) in the corresponding period of the previous year, supported by network expansion. On a like-for-like basis, sa

HARDI, Industry Groups Seek SCOTUS Review of Furnace Efficiency Rule USA: Heating, Air-conditioning & Refrigeration Distributors International (HARDI), in collaboration with another industry association and the Natural Gas Association of Georgia, on Monday urged the U.S. Supreme Court to review a court ruling that could effectively phase out non-condensing gas furnaces and certain commercial water heaters. The dispute centers on efficiency standards issued by the U.S. Departm

Daikin New Zealand To Open Christchurch Warehouse and Distribution Centre New Zealand: Daikin New Zealand is nearing completion of its second purpose-built facility in the country, with the new Daikin Park Christchurch warehouse and distribution centre intended to meet customer demand across the South Island. The facility will consolidate two existing Christchurch locations on a 7,870 square metre site in Hornby and will become a dedicated Heating, Ventilation and Air Conditi

Chemours Outlines Performance and Cash Flow Measures In 2025 Results USA: The Chemours Company has released its financial results for the fourth quarter and full year 2025, reporting revenue in line with its expectations and cash flow generation during the fourth quarter. Net Sales of $1.3 billion, slightly down compared to the corresponding prior-year quarter, with TSS reporting a record fourth quarter with double-digit year-over-year growth of 37% in Opteon™ Refrigerants Pr

Ariston Group Expands Solar Collector Production in Israel Israel: Ariston Group has announced the expansion of its solar collector production activities in Israel. The company entered the Israeli market in 2017 and has continued to develop its presence in the country. In 2022, Ariston Group strengthened its position in Israel through the acquisition of Chromagen. The current expansion forms part of its ongoing operations in the local market. Amir Raska, CEO of Chromagen: "We

Baxi Launches MCS Umbrella Service for Heat Pump Installers UK: Baxi has introduced a Microgeneration Certification Scheme umbrella service for air source heat pump installers. Under the service, the company will assess properties for eligibility under the Boiler Upgrade Scheme and manage compliance requirements and MCS documentation. The initiative is designed to support installers by handling system design, compliance and administrative processes. Installers using the servi

RAK Ceramics Selects SAP For Enterprise-wide Digital Transformation UAE: RAK Ceramics has selected SAP SE to implement an enterprise-wide digital transformation programme through the adoption of RISE with SAP. The initiative is intended to integrate end-to-end processes across the company’s 55 entities and establish a unified cloud platform supporting operations in more than 150 countries. The programme will consolidate multiple systems onto a core cloud platform based on SAP

European Commission Launches Revision of Energy Union Governance Regulation EU: The European Commission has initiated a revision of the Regulation (EU) 2018/1999 on the Governance of the Energy Union and Climate Action. The process seeks to simplify, strengthen, and modernise the framework that structures the planning, monitoring and reporting of European Union energy and climate policies. The regulation has served as the basis for coordinating Member States’ actions in pursu

Philippines Releases Updated Greenhouse Gas Inventory for Cooling Sector Philippines: The Philippines has published its second greenhouse gas inventory for the Refrigeration and Air Conditioning sector, presenting updated data on emissions from refrigerants and electricity consumption across key cooling subsectors. The inventory builds on the 2019 edition and applies a combination of IPCC Tier 1 and Tier 2 methodologies. It covers direct emissions from refrigerant leakage and

Bauhaus Opens New Three-storey Outlet in Vienna Austria: Bauhaus has opened a new store in Vienna, marking its seventh location in the city and its twenty-second in Austria. The outlet is located in a former Kika furniture store and extends across three floors. The building underwent renovation and structural upgrades over a period of approximately eighteen months, including reinforcement of ceilings. The total sales area amounts to 17,000 square metres on a site measuring 8,

Residential construction SOUTH AFRICA: As South Africa approaches the 2026 national Budget cycle, much of the focus is usually on bold growth projections, policy changes, and large infrastructure commitments. However, in the residential property market, confidence tends to build slowly rather than through sweeping announcements. Following a difficult decade marked by high interest rates, declining property values, and financial pressure on households, homebuyers have become m

Construction GERMANY: Housing construction permits in 2025 increased for the first time in three years, according to data from the German Federal Statistical Office. A total of 238,500 permits were issued for residential units in both new and existing buildings, marking a 10.8% rise compared to 2024, when approvals had dropped to their lowest level since 2010. Building permit figures are widely seen as an early indicator of upcoming construction activity. It was further noted