ALLPCB
Market overview
Growing health and environmental awareness has driven development of air quality monitors. From 2023 to 2029, the gas sensor and particle sensor markets are expected to grow by about 8% and 11% respectively, reaching a combined market size of approximately $2.8 billion by 2029. The digital olfaction segment remains small and is currently dominated by products for R&D and services, with forecasts around $52 million by 2029.
Market segments and drivers
By revenue, industrial applications represent the largest market for gas sensors, followed by particle sensors. Key drivers include HVAC and AC systems and legislation on refrigerant leak detection in buildings (ASHRAE). The automotive market is the second-largest revenue source, driven by O2 and NOx sensors and sensors for HVAC management and electric vehicle thermal runaway detection. Consumer demand for air purifiers also contributes to the market. Geopolitical tensions and rising global energy costs have accelerated interest in alternative fuels such as hydrogen, which is being considered for various industrial and residential uses. The medical market is expected to remain relatively stable, with gas sensors used in CO2 analyzers and breath analysis devices.
Market players
The gas sensing market is dominated by automotive suppliers such as Bosch, BorgWarner and NGK-NTK. Excluding automotive O2 and NOx sensors, Figaro is a leading supplier. In particle sensing, Cubic Sensor is a market leader. The industry has seen an increasing number of Chinese companies offering low-cost solutions for consumer applications. Recent financing in digital olfaction totaled about $64 million, indicating ongoing investor interest in that ecosystem.
Technology trends
Gas sensing technologies range from traditional electrochemical sensors to emerging methods such as photoacoustic spectroscopy (PAS). Non-dispersive infrared (NDIR) and metal-oxide (MOX) technologies are taking a leading position because they address the primary gases related to safety. Adoption of solid-state technologies like MEMS supports trends toward miniaturization and low power consumption. Since COVID-19, many gas sensor manufacturers have expanded into gas monitoring products; however, the lack of regulation on these detectors, their performance and data representation has created confusion among customers, which helps explain the relative stability of the consumer market.
Optical light scattering is the main technology for particle sensing. This approach is now highly mature and widely deployed, but there are significant performance gaps among suppliers. For fan-based optical scattering systems, major hardware improvements are not expected in the near term, though new entrants are researching alternative approaches.
Digital olfaction
Digital olfaction employs several technologies, including gas chromatography, compact devices with optical detection, and integrable devices with arrays of gas sensors. Advantages include applicability where human olfaction cannot be used, and potential for high accuracy and long-term data availability. Limitations include dependence on reference databases and cost, which can be a barrier for some applications.
