Lennox Posts Softer 2025 Sales but Lifts Margins and Sets 2026 Growth Outlook USA: Lennox reported mixed results for 2025, with revenue slipping 3% to US$ 5.2 billion amid weaker volumes, channel destocking and subdued construction demand. Fourth-quarter revenue fell 11% year on year, while adjusted earnings per share declined 22%. Despite this, the company achieved record annual margins above 20%, supported by cost controls, pricing discipline and favourable product mix. Hom

Europe Housing Landscape in 2025: Ownership Dominates, Affordability Strains Intensify EUROPE: Housing conditions across the European Union in 2025 reveal a market shaped by high ownership, rising costs and growing affordability challenges. In 2024, 68% of EU residents owned their homes, with ownership rates exceeding 90% in Romania, Slovakia, Hungary and Croatia. Germany remained the only country where renting predominated. Just over half of Europeans lived in houses, though

India’s Union Budget 2026–27 Reinforces Infrastructure-Led Growth INDIA: India’s Finance Minister Nirmala Sitharaman has presented the Union Budget for 2026–27, reinforcing the government’s infrastructure-led growth strategy with a record outlay of ₹12.2 trillion (USD133 billion) for infrastructure in FY2027—an 11.4% increase year on year. Roads, ports and railways remain central to the agenda of the Narendra Modi government, with a renewed emphasis on expanding connectivity

China’s Household Air Conditioner Market Sees Marginal Growth in 2025 CHINA: Latest data from ChinaIOL show that China’s household air conditioner market softened slightly in 2025 amid high market saturation. Domestic sales reached 105.2 million units, up a marginal 0.7% year on year, while exports declined 3.3% to 93.2 million units, reflecting weaker overseas demand. With air conditioner ownership already at elevated levels, new demand continued to fade. Market activity was

Haier Expands to South Africa, Eyes Local Production SOUTH AFRICA: China’s home appliance major Haier has officially entered the South African market, hosting a launch event in Johannesburg. The company described South Africa as a strategic gateway for expansion across southern Africa and showcased smart, energy-efficient appliances, including solar-powered air conditioners tailored to local electricity cost challenges.   Haier said it plans to establish an industrial park wi

Flanders Commits US$ 2.36 billion (€2billion) to Green Industrial Transition BELGIUM: The Flemish government has pledged US$ 2.36 billion (€2 billion) over the next decade to support the long-term sustainability of its industrial sector. Building on a smaller pilot scheme launched last year, the expanded programme will fund decarbonisation and electrification measures such as electric boilers, industrial heat pumps and carbon capture. Support will be delivered through “contra

Tariffs Push Up US Construction Costs by Over 3% in 2025 UNITED STATES: Non- residential construction input costs in the US rose 3.2% year on year in 2025, driven largely by tariff-related material price increases, according to Associated Builders and Contractors using data from the U.S. Bureau of Labor Statistics. Overall construction costs increased 2.8%, despite modest price declines in December. Materials most exposed to tariffs saw sharp rises, with copper wire and cable

GC Group Expands Italian Footprint with Two New Family Businesses ITALY: The GC Group has strengthened its presence in Italy with the addition of Caielli & Ferrari and Acquatica SpA from the start of 2026. Operating under Cordes & Graefe Italia Holding, the new members gain access to group-wide logistics, digital platforms and collaborative synergies. As part of the expansion, the group is acquiring a central logistics hub at the Cisette (C7) site, to be operated by Cordes &

Trane and Garrett Motion Join Forces for Ultra Efficient Commercial HVAC Solutions SWITZERLAND: Trane Technologies and Garrett Motion have announced a strategic collaboration to advance next-generation, oil-free centrifugal compressor technology for commercial HVAC applications. The partnership combines Trane’s system-level expertise with Garrett’s high-speed, oil-free compressor technology, which has already demonstrated significant energy-efficiency gains in testing. The co

Oman and Saudi Fund for Development Sign MoU for Thumrait Industrial City OMAN: Oman’s Ministry of Finance and the Saudi Fund for Development have signed a memorandum of understanding to finance the construction of Thumrait Industrial City in Dhofar Governorate, with Saudi funding of USD 40 million. The agreement was signed in Muscat by Sultan Salim Al Habsi and Sultan bin Abdulrahman Al Marshad. The project will establish an integrated industrial city with roads, utilities,

UK Boiler Upgrade Scheme Hits Record Heat Pump Uptake in 2025 UNITED KINGDOM: The UK government’s Boiler Upgrade Scheme delivered a record year in 2025, with 110,758 voucher applications submitted, 98% for air source heat pumps. Despite a seasonal slowdown in December, the scheme issued 95,639 vouchers during the year and paid 72,982 redemptions, with December ranking among the strongest months on record for completed installations. Regionally, the South East and South West l

Ziehl-Abegg Revenue Exceeds EUR 1 Billion in 2025 Germany: Ziehl-Abegg reported preliminary results showing revenue exceeding EUR 1.0 billion (USD 1.08 billion) in 2025, compared with EUR 893 million (USD 1.05 billion) in the previous year. The increase represents year-on-year growth of more than 12 percent. The company’s global workforce rose to around 5,800 employees from 5,300. International markets contributed a growing share of revenue, with the United States accounting

Enpal Reports Growth in Customer Base and Revenue in 2025 Germany: Enpal reported an expansion of its customer base in 2025, serving more than 115,000 households across Germany and Italy. Revenue in the operating subgroup increased by 25 percent year on year to more than EUR 1.1 billion (USD 1.2 billion), compared with EUR 890 million (USD 1.05 billion) in the previous year. The company also recorded a positive free cash flow in the operating subgroup for the first time. Grow

Nigeria and Saudi Arabia Discuss Housing and Construction Cooperation Nigeria/Saudi Arabia: Nigeria and Saudi Arabia have held discussions to expand bilateral cooperation in housing development, construction technology and local building materials manufacturing, during meetings on the sidelines of the 2026 Real Estate Future Forum in Riyadh. Nigeria’s Minister of Housing and Urban Development, Ahmed Musa Dangiwa, met with Saudi Arabia’s Minister of Municipal and Rural Affairs

Canada’s Building Costs Rise at Slower Pace in Late 2025 Canada: Building construction costs in Canada continued to increase in the fourth quarter of 2025, although the rate of growth eased compared with earlier in the year, according to data from Statistics Canada. Residential construction costs rose 0.4 per cent quarter on quarter, while non-residential costs increased 0.5 per cent. On an annual basis, residential costs across the fifteen census metropolitan areas increased

Philippines Allocates Public Funds for Housing and Resettlement Projects Philippines: The Philippines’ Department of Public Works and Highways has directed its regional offices to work with the National Housing Authority to implement housing and resettlement projects for informal settlers with a total allocation of PHP 1,800 million (USD 32 million/EUR 29 million). Funded under the 2025 General Appropriations Act, the programme targets resettlement needs in Metro Manila, Cala

South Australia and Federal Government Commit Funding for New Housing Programme Australia: The South Australian and federal governments have announced a joint housing programme valued at AUD 800 million (USD 530 million, EUR 490 million), which aims to deliver around 17,000 new homes across the state. Of this total, close to 7,000 homes are intended for first-home buyers. The initiative forms part of a wider federal commitment to increase housing supply nationally and include

REHVA Submits Input on EU Heating Ecodesign and Energy Labelling Review Europe: REHVA has submitted a coordinated response to the European Commission’s consultations on proposed revisions to ecodesign requirements and energy labelling rules for space heaters and combination heaters. The contribution was prepared by the REHVA EU Policy Advisory Group and draws on the experience of HVAC engineers, designers, technical specialists and manufacturers across Europe. REHVA noted tha

Trane Technologies reports fourth-quarter and full-year 2025 financial results Ireland: Trane Technologies reported its financial results for the fourth quarter of 2025, showing year-on-year increases across several indicators. Organic bookings increased by twenty two percent compared with the fourth quarter of 2024, driven primarily by the Americas Commercial HVAC segment, which recorded growth of more than thirty five percent. The company reported a record backlog of USD 7.

A. O. Smith reports 2025 earnings and outlines 2026 outlook USA: A. O. Smith reported diluted earnings per share of USD 3.85 for 2025 and announced its financial guidance for 2026. Total sales for 2025 were USD 3.0 billion, reflecting a slight increase compared with 2024. Pricing related to water heaters, along with higher volumes in boilers and commercial water heaters, was largely offset by lower volumes in wholesale residential water heaters. Segment earnings in 2025 amoun