Gas sensing market on the up, says Yole
In 2023 the gas sensor market was worth about US$1.33 billion and the particle sensor market was worth about US$333 million, according to market analysis firm Yole Group.
The gas sensor market was led by Robert Bosch followed by BorgWarner. Cubic Sensor has taken the lead in particle sensing, while an increasing number of Chinese companies are providing cost-effective solutions for consumer applications, Yole reckons. Cubic is followed by Plantower in the particulate matter sensor market.
The gas and particle sensor markets in 2023 by market leaders’ shares. Source: Yole Group.
“The industrial market dominates the revenue landscape for gas sensing, driven by legislation on refrigerant gas leak detection in HVAC and AC systems, as well as ASHRAE regulations,” said Pierre-Marie Visse, MEMS and sensing analyst at Yole Group, in a statement.
Visse added: “The automotive market is the second largest by revenue, where gas and PM are sensors used for powertrain management, HVAC system management and thermal runaway detection in EVs. In third position is the consumer market, driven by the demand for air purifiers.”
The gas, particle and olfaction sensor markets in 2023 by application sector and growth forecast to 2029. Source: Yole Group.
Taken together, the gas, particile and digital smell sensors markets were worth about US$1.7 billion. Yole predicts a compound annual growth rate over the period to 2028 of about 8 percent with the industrial sector growing the fastest and automotive the slowest at 4 percent.
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