Ferguson Reports 3.6% Sales Growth and Strong Non-Residential Demand in Q1 2026 US: Ferguson Enterprises reported Q1 2026 net sales of USD 7.5 billion, up 3.6% year-on-year, with gross margin improving 30 basis points to 31.0% and operating margin rising 120 basis points to 8.2%. Diluted earnings per share increased 23.1% to USD 2.13, while adjusted diluted earnings per share rose 9.1% to USD 2.28, supported by strong non-residential revenue growth and ongoing large capital p

Hisense HVAC Enters Indian Market, Appoints Rakesh Chauhan as India Director INDIA: Hisense HVAC has officially commenced operations in India and appointed Rakesh Chauhan as Director for India. The announcement was made during a product launch event in Bangkok attended by channel partners from across India. The company, a subsidiary of Qingdao Hisense Hitachi Air-conditioning Systems, plans to introduce smart HVAC solutions for residential and commercial applications in the I

SD Heat Exchangers Strengthens Danfoss Partnership to Support Benelux Energy Transition NETHERLANDS: Danfoss has expanded its strategic partnership with SD Heat Exchangers B.V. through a new distributor agreement covering the Benelux heating market. Building on their existing collaboration in plate heat exchangers, the partnership now includes Danfoss’ wider heating portfolio, such as control valves, motorized valves, and energy meters. The agreement aims to strengthen soluti

COTTO Expands Portfolio with Focus on Automatic Sanitary Solutions Thailand: COTTO has outlined its business strategy for 2026, focusing on expanding its product portfolio and introducing automatic sanitary ware to address demand for contactless and hygiene-oriented solutions. The company plans to broaden its surface materials offering to more than 10 categories, alongside the launch of new bathroom products, including an automatic toilet system and washbasin designs. These d

Air Conditioner Prices in India Expected to Increase Further India: Air conditioner prices in India are expected to rise further in the coming months due to higher raw material costs and revised energy efficiency standards introduced in January 2026. Industry representatives stated that costs across the sector have increased by around 14% to 16%, driven by higher prices of copper, aluminium and steel, along with changes in energy rating requirements. Older models manufactured

Geberit Reports Stable First-Quarter Performance in 2026 Switzerland: Geberit reported first-quarter net sales of CHF 873 million (USD 960 million, EUR 890 million) for 2026, representing a decline of 0.7% in Swiss franc terms, while currency-adjusted sales increased by 3.4%. The company stated that growth was supported by higher volumes and pricing effects despite weaker currency movements and challenging market conditions. Sales increased in Europe and the Middle East and A

Carrier Targets India Growth with New Sri City Facility India: Carrier Global has announced plans to invest USD 100 million (EUR 92 million) in a new manufacturing facility in Sri City, Andhra Pradesh, with operations expected to begin by the end of next year. The company stated that India has been its fastest-growing market over the past four years, recording growth above 20% during the period and 33% growth in the first quarter of 2026. The new facility is intended to incre

LMD and Schneider Electric Partner on Smart City Projects in Egypt Egypt: LMD has signed a memorandum of understanding with Schneider Electric to collaborate on the development of smart and energy-efficient projects across Egypt. The agreement focuses on integrating technologies related to sustainability, energy management, artificial intelligence and smart city infrastructure into current and future developments. The partnership will utilise Schneider Electric’s EcoStruxure

European Heat Pump Sales Rise Amid Energy Price Concerns EU: Residential heat pump sales in Europe increased during the first quarter of 2026, with France, Germany and Poland recording an average growth of 25 per cent. The rise followed higher gas and oil prices after the closure of the Strait of Hormuz on 2 March, which affected energy markets across several regions. Across 11 European countries, around 575,000 units were sold between January and March 2026, compared with 49

Iraq Prepares Plans for 21 New Residential Cities Iraq: Iraq has prepared designs for 21 new residential cities as part of ongoing efforts to address housing shortages, according to an official statement. The Ministry of Construction and Housing is working towards developing fully serviced residential cities in cooperation with real estate developers across multiple governorates. Ministry spokesperson Nabil al-Saffar stated, “Basic designs have been prepared for 21 cities…the

Germany PHVAC Sector Maintains Stability Amid Slowing Growth Germany: Germany’s plumbing, heating, and air conditioning (PHVAC) sector ended 2025 at a stable level, although sales declined and growth momentum slowed following a period of strong demand. Industry sales reached approximately EUR 59.1 billion (USD 64 billion), generated by around 48,000 companies employing 390,000 people. Orders and capacity utilisation have decreased, and no immediate growth acceleration is expe

Chinese flag CHINA: As urban living in Hong Kong increasingly prioritizes efficiency, wellness, and optimal space use, a forward-looking bathroom brand has entered the market. Leisure Plus Building Products Company Limited, with nearly 30 years of presence in the city, has been appointed the exclusive Hong Kong agent for global bathroom brand JOMOO. Through this partnership, the companies aim to introduce premium smart bathroom solutions powered by JOMOO’s advanced AI-driven