BRG is pleased to announce the recent publication of the 2026 Heating and Cooling market reports for its tiers 2 countries. BRG reports provide an in-depth overview of the most recent developments in the Heating markets in several European countries, including market trends, price developments, sales per sector, supply structure, and distribution patterns. Tier 2 European Heating and Cooling Markets: 2025 Developments Across recently published Tier 2 European countries, 2025

India’s LPG Import Surge Leaves State Fuel Retailers with Excess Inventories India: State-run refiners Indian Oil Corp. (IOC), Bharat Petroleum Corp. (BPCL) and Hindustan Petroleum Corp. (HPCL) are facing excess LPG inventories after securing imports of up to 40,000 tonnes per day amid concerns over potential disruptions in the Persian Gulf through the Strait of Hormuz. With supply risks easing, daily import requirements have fallen to around 30,000–32,000 tonnes, while domes

Capacite Infraprojects Secures USD 56 Million Luxury Residential Construction Contract in Mumbai India: Capacite Infraprojects Limited has secured a USD 56 million (INR 4,820 million) construction contract from Twenty-Five Downtown Realty Limited for a luxury residential project in Mahalaxmi, Mumbai, strengthening its order book and enhancing revenue visibility over the next 24–36 months. The project reinforces the company's presence in the Mumbai Metropolitan Region (MMR), i

Hansgrohe Expands Wash Portfolio in India with Launch of Avalegra India: Hansgrohe has expanded its Wash portfolio in India with the launch of Avalegra in Mumbai, showcased at its channel partner outlet C B Xclusive, as part of its strategy to strengthen its consumer-facing retail presence and premium positioning. Avalegra introduces an integrated Washplace concept that combines the wash basin and faucet into a single solution, featuring a parabolic spray integrated into the

LG Electronics Reports Record Second-Quarter 2026 Revenue and Operating Profit South Korea: LG Electronics Inc. reported preliminary second-quarter 2026 consolidated revenue of approximately USD 17.3 billion (₩23.83 trillion) and operating profit of approximately USD 1.15 billion (₩1.58 trillion), marking the highest second-quarter results in the company’s history. For the first half of 2026, the company recorded revenue of approximately USD 34.5 billion (₩47.56 trillion) and

ITOCHU and Daikin Form Alliance to Advance Commercial Air Conditioner Recycling in Japan Japan: ITOCHU Corp. and Daikin Industries have signed a comprehensive business alliance agreement under Japan’s Act Concerning Sophistication of Recycling Business, etc. to Promote Resource Circulation (Type 1) to advance resource recycling for commercial air conditioners and expand the use of recycled materials. The partnership will integrate the entire recycling process—from collection

Mitsubishi Electric Acquires APAC and COMPAC Groups to Expand European Data Center Cooling Business Japan: Mitsubishi Electric Corporation announced that its wholly owned subsidiary, Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A., acquired all shares of the APAC and COMPAC groups, including their operating companies in the Netherlands, on July 13. The acquisition strengthens Mitsubishi Electric’s one-stop capabilities in Europe by combining the groups’ expertise in

Alpha Fire Services to Acquire Icon Engineering in USD 0.87 Million Share-Swap Deal Sri Lanka: Alpha Fire Services PLC has announced plans to acquire 100% of Icon Engineering Enterprises (Pvt.) Ltd, an HVAC solutions provider operating in Sri Lanka and the Maldives, through a USD 0.87 million share-swap transaction. The acquisition, involving the issue of 9.12 million new ordinary voting shares at an implied value of USD 0.10 per share, is expected to position Alpha as a full

LG Expands HVAC Training Network to Strengthen Technical Expertise Across Global Markets UNITED ARAB EMIRATES: LG Electronics is expanding its global HVAC Academy network to strengthen installation, maintenance, and service capabilities as part of its Global South strategy. A key addition is the LG MEA Hub Academy in the UAE, one of the region’s largest HVAC training and testing centers, offering certification programs, hands-on technical training, and customer experience zon

Growth of Energy Recovery Ventilation in the Indian Commercial Sector India's Grade-A office space in India’s top seven cities reached about 72 million sq. ft in 2025, growing by 6% on better demand from domestic and foreign companies, according to real estate consultant Colliers. With this growth ventilation systems have gained importance even as Indian Green Building Council (IGBC) rating system require projects to meet minimum fresh air ventilation standards (often referen

Taiwanese Ceramics Manufacturers HCG Enters Defense Market With Advanced Drone Materials TAIWAN: Taiwanese bathroom ceramics manufacturer Hocheng Corp. (HCG) is expanding beyond its traditional sanitary ware business into defense by leveraging its expertise in advanced ceramics. The company has developed lightweight ceramic-carbon fiber composite materials for drones, unmanned surface vessels, and armored vehicle protection, with products verified for defense use by Taiwan’s

China's June Exports Surge 27% on AI-Driven Chip Demand, Trade Surplus Reaches USD 125.6 Billion China: China's June exports increased 27% year-on-year, surpassing forecasts of 18.2%, driven by strong global demand for chips and AI computing power, while imports rose 36%, marking a five-year high and exceeding the expected 24% growth. The country's trade surplus widened to USD 125.6 billion from USD 105.4 billion in May, keeping China on track to record an annual surplus exce

China Targets USD 9 Trillion in Annual Retail Sales by 2030 Under First Five-Year Consumption Plan China: China has unveiled its first five-year plan dedicated to boosting consumption, targeting annual retail sales of around USD 9 trillion by 2030, implying annual growth of about 3.7%, down from roughly 5% recorded during 2021–2025. The plan aims to raise household incomes, significantly increase household consumption's share of the economy from around 40%, and expand spendin

Sloan Acquires Controlling Stake in Essel Bath Fittings India: Sloan, a plumbing systems manufacturer based in Illinois, has acquired a controlling stake in Essel Bath Fittings as part of its expansion strategy in India's bath fittings market. The companies did not disclose the financial terms of the transaction. Sloan stated that the investment supports its strategy in India by expanding its local manufacturing footprint and strengthening its presence through Essel Bath Fitt

Uzbekistan Imports 132,691 Air Conditioners in First Five Months of 2026 Uzbekistan: Uzbekistan imported 132,691 air conditioners valued at USD 19.7 million during the first five months of 2026, according to the National Statistics Committee. Import volumes increased by 13,700 units, or 11.5%, compared with the corresponding period of 2025. China remained the largest supplier, accounting for 128,021 imported units. Kazakhstan supplied 4,644 units, while Turkey exported 17 uni

Air conditioner CHINA: China's air conditioner exports to the European Union increased by 43.2% year-on-year to US$3.76 billion in the first half of 2026, driven by an unprecedented heatwave across Europe and a significant gap between local production capacity and market demand. Chinese manufacturers, including Midea, Haier, Gree, Hisense, TCL, and Changhong, have expanded their presence in the region by offering energy-efficient and easy-to-install cooling solutions tailored

Hotel Vietnam has become Asia's largest branded residences market by value, overtaking Thailand and South Korea, according to the Asia Branded Residences Market Review 2026 by C9 Hotelworks. The country's branded residence sector is valued at approximately USD 8 billion, accounting for 20% of Asia's USD 40 billion branded residences market. Growth has been driven by a robust pipeline of 15,762 residential units across 47 projects, supported by strong tourism recovery, infrast

Why Air Conditioners Costs More in India Now - The BEE Effect Goes Beyond Raw Materials Revision of BEE Air-Conditioning Efficiency Standards Transforming India’s Air-Conditioning Industry The Indian air-conditioner industry is in the midst of one of the biggest transformations it has seen in years. While consumers are noticing higher air-conditioner prices in 2026, the reasons go well beyond the familiar story of rising copper or aluminium costs. AC prices have risen acros

Indonesia Raises Interest Rates to Support Rupiah Stability and Economic Growth INDONESIA: Bank Indonesia has increased its benchmark interest rate by 25 basis points to 5.75% to strengthen the rupiah and keep inflation within its 2026–2027 target amid heightened global uncertainty caused by the Middle East conflict. Alongside tighter monetary policy, the central bank will maintain supportive macroprudential measures and expand digital payment initiatives to encourage lending

Rinnai Strengthens Energy-Efficient Gas Heating Portfolio for Long-Term Growth JAPAN: Rinnai continues to strengthen its position in the gas appliance market by focusing on energy-efficient heating, hot water and cooking solutions for residential and commercial customers. The company benefits from steady replacement demand for ageing equipment, alongside new housing and renovation projects, providing a stable long-term revenue base. Rinnai is expanding its portfolio of high-e