Naphtha Shortage Begins Affecting Air Conditioner Installations in Japan Japan: A shortage of naphtha-linked materials, linked to disruption caused by the Middle East crisis, is beginning to affect air conditioner installation activity in Japan ahead of the summer season. Contractors have reported shortages of products such as pipe covers and rising costs for refrigerant pipes and electrical wiring, creating concerns about their ability to meet seasonal demand. Industry parti

HVAC JAPAN: Bosch Home Comfort Group, the HVAC division of Robert Bosch GmbH, and Hitachi Group have entered into a strategic collaboration to develop intelligent building management solutions through “HMAX for Buildings.” Combining Bosch’s expertise in commercial HVAC systems with Hitachi’s advanced AI and IoT capabilities, the partnership aims to enhance the performance, efficiency, and lifecycle value of HVAC assets in mission-critical facilities such as offices, commercia

WCT JV Secures US$130.4 Million Abu Dhabi Construction Contract UNITED ARAB EMIRATES: WCT Holdings Bhd has secured a US$130.4 million subcontract through its joint venture in the United Arab Emirates to deliver the Yas Living Main Works Package in Abu Dhabi. The project, developed by Aldar Development LLC, involves the construction of commercial and residential buildings across two phases. The scope includes structural, architectural, mechanical, electrical, plumbing, and ext

Prolonged West Asia Conflict Puts Delivery of 5.4 Lakh Indian Homes at Risk India: India's residential real estate sector could face project completion delays in 2026 as the ongoing West Asia conflict continues to disrupt global trade routes, commodity markets, and supply chains. According to Anarock, approximately 5.4 lakh homes across the country's seven major cities are scheduled for completion this year, the highest annual delivery target in over a decade. The Mumbai Metr

India Becomes World's Second-Largest Contributor to Construction Growth India: India has surpassed the United States to become the world's second-largest contributor to global construction growth between 2020 and 2030, according to Foundamental's State of the Project Economy 2026 report. The country's rapid infrastructure expansion—spanning highways, railways, airports, ports, metro networks, and logistics corridors—is driving the shift, with only China contributing more to g

LG Electronics South Korea: LG Electronics said it plans to double its combined revenue from three key Global South markets, including India, Brazil and Saudi Arabia, by 2030. The company reported that revenue from these markets reached about US$4.3 billion in 2025, registering growth of over 20% compared with 2023 and outpacing overall global growth. The company identified India as a central market supported by strong demand conditions and relatively low penetration of home

Lloyd India: Havells India reported that its consumer appliances brand Lloyd recorded a decline in performance in FY2026 due to weak summer demand and elevated channel inventory. Revenue fell by 23% to US$411 million, compared to US$534 million in the previous year. The business reported a loss of about US$21 million against a profit in FY2025, as lower sales volumes led to underabsorption of fixed costs and reduced profitability. Despite the slowdown, Lloyd continued to expa

India’s Economy and Government Finances Face Mounting Costs from Iran War INDIA: India's economy is coming under increasing pressure from the ongoing Iran war, which has disrupted global energy supplies and driven up oil and gas prices. As the world's third-largest oil importer, importing around 90% of its crude oil needs, India is particularly exposed to higher energy costs and supply disruptions, including constraints on shipments through the Strait of Hormuz. The Reserve

Bangladesh AC Demand Cools Amid High Inflation and Frequent Rainfall BANGLADESH: Bangladesh’s air conditioner market experienced a weaker-than-expected peak season in 2026, as frequent rainfall and persistent inflation dampened consumer demand. Industry participants reported that AC sales fell below expectations during April and May, traditionally the strongest months for purchases, with some retailers estimating a decline of around 30% compared with the previous year. Lower

Hisense India Expands Offline Presence in Andhra Pradesh and Telangana Through Sonovision INDIA: Hisense India has partnered with Sonovision to strengthen its offline retail presence across Andhra Pradesh and Telangana. Under the agreement, Hisense televisions, air conditioners and upcoming washing machine and refrigerator ranges will be available through more than 86 Sonovision outlets in the region. The move follows the launch of Hisense’s manufacturing facility in Sri City

Epack Durable Expects Double-Digit AC Growth INDIA: Epack Durable remains optimistic about its air conditioner and appliance businesses, forecasting double-digit growth despite expectations that the overall Indian AC industry could decline by 20–25% this season. The company said demand for cooling products was supported by heatwave conditions during April and May, while price increases linked to higher input costs have been successfully passed on to brand partners and consume

China Unveils Five Year Urban Renewal Plan to Modernize Cities by 2030 CHINA: China has announced an ambitious urban renewal strategy under its 15th Five-Year Plan, prioritizing the renovation of unsafe housing, ageing residential communities, urban villages, and historic buildings through 2030. The initiative also includes upgrading parks, sports facilities, underground utility networks, emergency shelters, and accelerating the digitalization of urban housing infrastructure.

LG Electronics Overtakes Japanese Rivals in Taiwan’s Premium Appliance Market TAIWAN: LG Electronics has strengthened its leadership in Taiwan’s premium appliance market, securing top positions in categories including air conditioner, washing machines, TVs, Stylers, dehumidifiers and air purifiers. The company’s success has been driven by innovative, localized products tailored to Taiwan’s humid climate, compact living spaces and rising energy costs. Heat pump-enabled applian

TOTO Ceramics Division: Semiconductors Displace Bathrooms as Profit Source Japan: TOTO, announced that its semiconductor ceramics business has become the company’s largest profit contributor, surpassing its core housing-equipment segment. For the fiscal year ended March 31, 2026, the advanced ceramics division generated USD 182 million in operating profit, accounting for more than half of the company’s record USD 339 million group operating profit, while maintaining an operat

JD MALL Expands Hong Kong Presence with First Wan Chai Store and Multi-Store Growth Plan China: JD announced that its first JD MALL store in Hong Kong will officially open in Wan Chai on June 18. The 30,000-square-foot store will offer large and small home appliances, mobile digital products, and newer categories such as smart bathroom products, massage equipment, and whole-home cleaning appliances, operating under a “local sourcing, local sales” model. As part of its Hong Ko

Moderno Home Depot Expands Philippine Footprint Amid Rising Demand for Smart Home Solutions Philippines: Moderno Home Depot is expanding its presence across the Philippines, with a new showroom in Cebu City scheduled to open in the third quarter, adding to its existing branches in Bulacan, Laguna, Quezon City, and Davao City. The expansion comes as demand for connected living solutions continues to rise, with global household penetration of smart home products projected to ex

Busan Secures AI-Based HVAC Infrastructure Project to Strengthen Global Competitiveness South Korea: Busan has secured the Ministry of Trade, Industry and Energy’s 2026 Regional Strategic Industry Infrastructure Upgrade Project for its “Global Market-Responsive AI-Based HVAC Component Performance Evaluation Infrastructure Upgrade Project,” aimed at enhancing testing, certification, and export competitiveness for the HVAC machinery and parts industry. Running from 2026 to 2028

TOTO Fully Resumes Orders for Prefabricated Bathrooms Following Raw Material Supply Recovery Japan: TOTO will fully resume accepting new orders for prefabricated and modular bathrooms from Tuesday, ending restrictions that were introduced earlier this year after the Iran war disrupted supplies of naphtha-derived material. The company stated that it is returning to normal delivery schedules as the outlook for raw material supplies has improved and upgrades to its ordering syst

Midea Group Shifts Focus to Organic Growth and Shareholder Returns China: Midea Group Chairman Fang Hongbo announced at the company’s annual shareholder meeting that the company will avoid major mergers and acquisitions and large-scale capital expenditure over the next three years, with net profits primarily returned to shareholders. The strategic shift marks a move away from decades of acquisition-led expansion toward organic growth, while the company continues to explore po

South Korean Firms Intensify Competition in Heat Pump Market South Korea: South Korea’s heat pump market is witnessing increased competition as major appliance manufacturers and boiler producers expand their presence in the sector. Heat pumps, which use electricity to provide heating and hot water, are gaining attention as countries pursue energy transition and decarbonisation goals. The South Korean government has also outlined plans to deploy 3.5 million heat pumps by 2035,