Commercial Split HVAC Systems Market To Reach $36,929.6 Million By 2033

Commercial Split HVAC Systems Market Growth & Trends

The global commercial split HVAC systems market size is anticipated to reach USD 36,929.6 million by 2033 and is projected to grow at a CAGR of 8.8% from 2025 to 2033, according to a new report by Grand View Research, Inc. Energy efficiency is a primary driver of the commercial split HVAC systems market, as businesses aim to reduce operational costs and carbon footprints. Modern systems with inverter technology and high SEER ratings help achieve significant energy savings. Regulatory standards and sustainability goals further encourage adoption.

Rapid urbanization and growth in commercial construction are boosting demand for HVAC systems. Offices, retail spaces, and hospitality sectors increasingly require reliable and efficient climate control solutions. New construction projects provide opportunities to integrate advanced split HVAC systems from the design stage. This infrastructure expansion drives both new installations and the replacement of older units.

Innovations such as smart controls, IoT integration, and variable refrigerant flow (VRF) technology are driving market growth. These advancements enable better energy management, enhanced comfort, and remote monitoring capabilities. Manufacturers are investing heavily in R&D to introduce more efficient and connected systems. The adoption of these technologies makes commercial buildings more intelligent and sustainable.

Stringent government regulations on energy consumption and refrigerant usage are pushing businesses to adopt eco-friendly HVAC solutions. The demand for low-GWP refrigerants and high-efficiency systems is increasing globally. Compliance with green building standards, such as LEED and BREEAM, further drives market adoption. This focus on sustainability is shaping product development and boosting the market. 

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Commercial Split HVAC Systems Market Report Highlights

• Based on installation, the retrofit/replacement segment accounted for the largest market revenue share in 2024, owing to the high demand for upgrading older HVAC systems. Businesses are replacing outdated units with energy-efficient and environmentally friendly solutions. This trend is driven by cost savings, regulatory compliance, and the need for improved indoor comfort.

• Based on end use, the offices segment led the market with the largest revenue share of 24.2% in 2024, driven by the growing demand for energy-efficient and reliable climate control. Rising commercial infrastructure and retrofit projects in office buildings further support adoption. Focus on employee comfort and productivity also fuels market growth.

• Based on equipment type, the air conditioners segment accounted for the largest market revenue share in 2024, owing to their widespread use in commercial spaces for reliable and efficient cooling. Continuous improvements in energy efficiency and performance support their adoption. Growing demand for comfortable indoor environments further drives market dominance. 

• In March 2025, Panasonic Canada partnered with EMCO HVAC to make its energy-efficient heat pumps more accessible across Canada. Through EMCO's extensive distribution network, Panasonic’s ducted and ductless heat pumps will reach residential markets nationwide. The partnership is now active, with products available through EMCO's branches across the country.

Commercial Split HVAC Systems Market Segmentation

Grand View Research, Inc. has segmented the global commercial split HVAC systems market based on the installation,equipment type, end use, and region.

Commercial Split HVAC Systems Installation Outlook (Revenue, USD Million, 2021 - 2033)

• New Construction

• Retrofit/Replacement

Commercial Split HVAC Systems Equipment Type Outlook (Revenue, USD Million, 2021 - 2033)

• Air Conditioners

• Heat Pump

• Dehumidifiers

• Others

Commercial Split HVAC Systems End Use Outlook (Revenue, USD Million, 2021 - 2033)

• Retail Shops

• Offices

• Healthcare Facilities

• Hospitality

• Schools & Educational Institutions

• Laboratories

• Data Centers

• Others

Commercial Split HVAC Systems Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • Spain

  • UK

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Commercial Split HVAC Systems Market

• Carrier

• Johnson Controls

• Trane

• LG Electronics

• Haier Group

• Panasonic Corporation

• AAON

• Daikin

• Samsung

• Midea

• Mitsubishi Electric

• Fujitsu

• Voltas

• Lennox

• GREE Comfort