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Rapid Pace of Industrialization Fosters Burner Management System (BMS) Market

Blog Description

For every industry that conducts burner/heater-based operations, safety is a primary concern. Any kind of burner/heater malfunction can lead to heavy loss of property, life, and finance. To offer protection to industrial boilers from explosion, burner management system (BMS) functions efficiently. BMS also simplifies unit operation with the help of alarm management and operator displays. The use of BMS can improve plant performance, reduce ownership costs, and ensure regulatory compliance in an industry. In addition, it reduces the critical troubleshooting time with the help of pinpoint diagnostic messaging.

Browse the full Global Burner Management System (BMS) Market Report:http://www.mrrse.com/burner-management-system-market

The factors driving the growth of the global BMS market include:

  • Increasing government legislations and regulations
  • Global industrial growth
  • Rising laws to minimize industrial accidents
  • Growing safety awareness among industry workers

According to a report by Transparency Market Research (TMR), the global burner management system (BMS) market is estimated to reach US$7.39 bn by 2024 from its initial value of US$4.58 bn in 2015, expanding at a steady CAGR of 5.5% therein.

Heavy Demand for BMS in Oil and Gas Sector Positively Impacts Global Market

Based on end use, the oil and gas sector is expected to lead the market during the given forecast period. This sector is projected to continue its dominance over the market due to heavy demand for energy, globally. The other end users of BMS are power, ceramics, chemicals, mining, metal, and mineral (mmm), refining, water, pharmaceutical, glass, food and beverages, specialty chemicals, alternate fuel, building, automotive, and printing and publishing.

Listed below are the key trends based on various criteria of segmentation:

  • Based on component, the hardware segment is the major contributor to the global market for BMS. Hardware components are in demand owing to their functionalities and their compliance with design criteria in various industry-critical operations.
  • On the basis of fuel type, in 2015, oil-based burners accounted for a 41.1% share in the BMS market. Due to increasing requirement for cleaner and safer environment in industries, electricity-based burners are set to pose a threat to oil-based burners in the forecast period.
  • By way of application, boilers are projected to hold a large share in market during the forecast period. The installation of boilers is much higher when compared with furnaces, kilns, and ovens.

Remarkable Industrial Growth Fuels Asia Pacific Market

The global BMS market is segmented on the basis of geography into Europe, Asia Pacific, North America, South America, and the Middle East and Africa. Out of the mentioned regions, North America held a considerable market share of over 36.7 % in 2015. The region is anticipated to grow further in the forecast period due to the existence of a large number of BMS manufacturers operating in the market.

Browse the full Press Release of Global Burner Management System (BMS) Market at :http://www.mrrse.com/global-burner-management-system-market

Asia Pacific is another region that is fast gaining momentum. Increasing population and rise in the number of industries, especially in developing economies such as India, China, and Japan, are the key factors driving the market in this region.

The prominent players in the global BMS market profiting from the high demand for BMS include Siemens AG, ABB Ltd., NESTEC Inc., ALSTOM, BORN, Inc., Pilz GmbH & Co. KG, Babcock & Wilcox Co., Doosan Babcock, Honeywell International Inc., and Titan Logix Corp.