What is the projected market valuation of the US thermal systems market by 2035?

The projected market valuation is expected to reach $11.31 Billion by 2035. Read More

What was the overall market valuation of the US thermal systems market in 2024?

The overall market valuation was $8.62 Billion in 2024. Read More

What is the expected CAGR for the US thermal systems market during the forecast period 2025 - 2035?

The expected CAGR for the market during this period is 2.5%. Read More

Which companies are considered key players in the US thermal systems market?

Key players include Johnson Controls, Honeywell International, Trane Technologies, Carrier Global, and Daikin Industries. Read More

What are the projected valuations for the HVAC segment from 2024 to 2035?

The HVAC segment is projected to grow from $3.45 Billion in 2024 to $4.25 Billion by 2035. Read More

How much is the compressors segment expected to grow by 2035?

The compressors segment is expected to increase from $2.58 Billion in 2024 to $3.25 Billion by 2035. Read More

What is the projected valuation for electric vehicles in the propulsion segment by 2035?

The valuation for electric vehicles in the propulsion segment is projected to rise from $2.54 Billion in 2024 to $4.05 Billion by 2035. Read More

What is the expected growth for the fluid transport segment from 2024 to 2035?

The fluid transport segment is expected to grow from $0.67 Billion in 2024 to $1.36 Billion by 2035. Read More

What are the projected valuations for passenger vehicles in the vehicle type segment by 2035?

Passenger vehicles are projected to increase from $5.18 Billion in 2024 to $6.73 Billion by 2035. Read More

How does the market for hybrid vehicles in the propulsion segment change by 2035?

The market for hybrid vehicles is expected to grow from $0.90 Billion in 2024 to $1.14 Billion by 2035. Read More

US Thermal Systems Market

ID: MRFR/SEM/15786-HCR

200 Pages

Nirmit Biswas

Last Updated: April 06, 2026

US Thermal Systems Market Size, Share and Research Report By Component (Compressor, HVAC, Powertrain Cooling, Fluid Transport), By Vehicle Type (Passenger Vehicles, Commercial Vehicles) and By Propulsion Type (IC Engine Vehicles, Electric Vehicles, Hybrid Vehicles) - Industry Forecast Till 2035

Summary Table of Contents Segmentation Download PDF

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1 SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS
1. 1.1 EXECUTIVE SUMMARY
  1. 1.1.1 Market Overview
  2. 1.1.2 Key Findings
  3. 1.1.3 Market Segmentation
  4. 1.1.4 Competitive Landscape
  5. 1.1.5 Challenges and Opportunities
  6. 1.1.6 Future Outlook
2 SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE
1. 2.1 MARKET INTRODUCTION
  1. 2.1.1 Definition
  2. 2.1.2 Scope of the study
    1. 2.1.2.1 Research Objective
    2. 2.1.2.2 Assumption
    3. 2.1.2.3 Limitations
2. 2.2 RESEARCH METHODOLOGY
  1. 2.2.1 Overview
  2. 2.2.2 Data Mining
  3. 2.2.3 Secondary Research
  4. 2.2.4 Primary Research
    1. 2.2.4.1 Primary Interviews and Information Gathering Process
    2. 2.2.4.2 Breakdown of Primary Respondents
  5. 2.2.5 Forecasting Model
  6. 2.2.6 Market Size Estimation
    1. 2.2.6.1 Bottom-Up Approach
    2. 2.2.6.2 Top-Down Approach
  7. 2.2.7 Data Triangulation
  8. 2.2.8 Validation
3 SECTION III: QUALITATIVE ANALYSIS
1. 3.1 MARKET DYNAMICS
  1. 3.1.1 Overview
  2. 3.1.2 Drivers
  3. 3.1.3 Restraints
  4. 3.1.4 Opportunities
2. 3.2 MARKET FACTOR ANALYSIS
  1. 3.2.1 Value chain Analysis
  2. 3.2.2 Porter's Five Forces Analysis
    1. 3.2.2.1 Bargaining Power of Suppliers
    2. 3.2.2.2 Bargaining Power of Buyers
    3. 3.2.2.3 Threat of New Entrants
    4. 3.2.2.4 Threat of Substitutes
    5. 3.2.2.5 Intensity of Rivalry
  3. 3.2.3 COVID-19 Impact Analysis
    1. 3.2.3.1 Market Impact Analysis
    2. 3.2.3.2 Regional Impact
    3. 3.2.3.3 Opportunity and Threat Analysis
4 SECTION IV: QUANTITATIVE ANALYSIS
1. 4.1 Semiconductor & Electronics, BY Component (USD Billion)
  1. 4.1.1 Compressors
  2. 4.1.2 HVAC
  3. 4.1.3 Powertrain Cooling
  4. 4.1.4 Fluid Transport
2. 4.2 Semiconductor & Electronics, BY Vehicle Type (USD Billion)
  1. 4.2.1 Passenger Vehicles
  2. 4.2.2 Commercial Vehicles
3. 4.3 Semiconductor & Electronics, BY Propulsion (USD Billion)
  1. 4.3.1 IC Engine Vehicles
  2. 4.3.2 Electric Vehicles
  3. 4.3.3 Hybrid Vehicles
5 SECTION V: COMPETITIVE ANALYSIS
1. 5.1 Competitive Landscape
  1. 5.1.1 Overview
  2. 5.1.2 Competitive Analysis
  3. 5.1.3 Market share Analysis
  4. 5.1.4 Major Growth Strategy in the Semiconductor & Electronics
  5. 5.1.5 Competitive Benchmarking
  6. 5.1.6 Leading Players in Terms of Number of Developments in the Semiconductor & Electronics
  7. 5.1.7 Key developments and growth strategies
    1. 5.1.7.1 New Product Launch/Service Deployment
    2. 5.1.7.2 Merger & Acquisitions
    3. 5.1.7.3 Joint Ventures
  8. 5.1.8 Major Players Financial Matrix
    1. 5.1.8.1 Sales and Operating Income
    2. 5.1.8.2 Major Players R&D Expenditure. 2023
2. 5.2 Company Profiles
  1. 5.2.1 Johnson Controls (US)
    1. 5.2.1.1 Financial Overview
    2. 5.2.1.2 Products Offered
    3. 5.2.1.3 Key Developments
    4. 5.2.1.4 SWOT Analysis
    5. 5.2.1.5 Key Strategies
  2. 5.2.2 Honeywell International (US)
    1. 5.2.2.1 Financial Overview
    2. 5.2.2.2 Products Offered
    3. 5.2.2.3 Key Developments
    4. 5.2.2.4 SWOT Analysis
    5. 5.2.2.5 Key Strategies
  3. 5.2.3 Trane Technologies (IE)
    1. 5.2.3.1 Financial Overview
    2. 5.2.3.2 Products Offered
    3. 5.2.3.3 Key Developments
    4. 5.2.3.4 SWOT Analysis
    5. 5.2.3.5 Key Strategies
  4. 5.2.4 Carrier Global (US)
    1. 5.2.4.1 Financial Overview
    2. 5.2.4.2 Products Offered
    3. 5.2.4.3 Key Developments
    4. 5.2.4.4 SWOT Analysis
    5. 5.2.4.5 Key Strategies
  5. 5.2.5 Daikin Industries (JP)
    1. 5.2.5.1 Financial Overview
    2. 5.2.5.2 Products Offered
    3. 5.2.5.3 Key Developments
    4. 5.2.5.4 SWOT Analysis
    5. 5.2.5.5 Key Strategies
  6. 5.2.6 Bosch Thermotechnology (DE)
    1. 5.2.6.1 Financial Overview
    2. 5.2.6.2 Products Offered
    3. 5.2.6.3 Key Developments
    4. 5.2.6.4 SWOT Analysis
    5. 5.2.6.5 Key Strategies
  7. 5.2.7 Mitsubishi Electric (JP)
    1. 5.2.7.1 Financial Overview
    2. 5.2.7.2 Products Offered
    3. 5.2.7.3 Key Developments
    4. 5.2.7.4 SWOT Analysis
    5. 5.2.7.5 Key Strategies
  8. 5.2.8 LG Electronics (KR)
    1. 5.2.8.1 Financial Overview
    2. 5.2.8.2 Products Offered
    3. 5.2.8.3 Key Developments
    4. 5.2.8.4 SWOT Analysis
    5. 5.2.8.5 Key Strategies
  9. 5.2.9 Siemens (DE)
    1. 5.2.9.1 Financial Overview
    2. 5.2.9.2 Products Offered
    3. 5.2.9.3 Key Developments
    4. 5.2.9.4 SWOT Analysis
    5. 5.2.9.5 Key Strategies
3. 5.3 Appendix
  1. 5.3.1 References
  2. 5.3.2 Related Reports
6 LIST OF FIGURES
1. 6.1 MARKET SYNOPSIS
2. 6.2 US MARKET ANALYSIS BY COMPONENT
3. 6.3 US MARKET ANALYSIS BY VEHICLE TYPE
4. 6.4 US MARKET ANALYSIS BY PROPULSION
5. 6.5 KEY BUYING CRITERIA OF SEMICONDUCTOR & ELECTRONICS
6. 6.6 RESEARCH PROCESS OF MRFR
7. 6.7 DRO ANALYSIS OF SEMICONDUCTOR & ELECTRONICS
8. 6.8 DRIVERS IMPACT ANALYSIS: SEMICONDUCTOR & ELECTRONICS
9. 6.9 RESTRAINTS IMPACT ANALYSIS: SEMICONDUCTOR & ELECTRONICS
10. 6.10 SUPPLY / VALUE CHAIN: SEMICONDUCTOR & ELECTRONICS
11. 6.11 SEMICONDUCTOR & ELECTRONICS, BY COMPONENT, 2024 (% SHARE)
12. 6.12 SEMICONDUCTOR & ELECTRONICS, BY COMPONENT, 2024 TO 2035 (USD Billion)
13. 6.13 SEMICONDUCTOR & ELECTRONICS, BY VEHICLE TYPE, 2024 (% SHARE)
14. 6.14 SEMICONDUCTOR & ELECTRONICS, BY VEHICLE TYPE, 2024 TO 2035 (USD Billion)
15. 6.15 SEMICONDUCTOR & ELECTRONICS, BY PROPULSION, 2024 (% SHARE)
16. 6.16 SEMICONDUCTOR & ELECTRONICS, BY PROPULSION, 2024 TO 2035 (USD Billion)
17. 6.17 BENCHMARKING OF MAJOR COMPETITORS
7 LIST OF TABLES
1. 7.1 LIST OF ASSUMPTIONS
7.1.1
1. 7.2 US MARKET SIZE ESTIMATES; FORECAST
  1. 7.2.1 BY COMPONENT, 2025-2035 (USD Billion)
  2. 7.2.2 BY VEHICLE TYPE, 2025-2035 (USD Billion)
  3. 7.2.3 BY PROPULSION, 2025-2035 (USD Billion)
2. 7.3 PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
7.3.1
1. 7.4 ACQUISITION/PARTNERSHIP
7.4.1

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US US Thermal Systems Market Segmentation

US Thermal Systems Market By Component (USD Billion, 2025-2035)

Compressors
HVAC
Powertrain Cooling
Fluid Transport

US Thermal Systems Market By Vehicle Type (USD Billion, 2025-2035)

Passenger Vehicles
Commercial Vehicles

US Thermal Systems Market By Propulsion (USD Billion, 2025-2035)

IC Engine Vehicles
Electric Vehicles
Hybrid Vehicles

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