openPR Logo
Press release

Burner Management Systems (BMS) Market: Electric Burners to Gain Preference over Oil-based Variants by 2024

11-29-2017 11:43 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Safety is a key concern within every industry that conducts heater/burner-based operations. Any malfunctioning in the heaters in these industries could lead to major loss of life, property, and finance. It could also reduce the availability and accessibility of these industries. This acts as one of the major factors driving the global burner management systems (BMS) market.

Rising government legislations and regulations, along with increasing litigations for accidents, have made the installation of BMS in existing as well as new heaters a must. This has resulted in the increased demand for burner management systems across the globe. Rapid industrial growth has also had a significant impact on the development of this market.

The global market for BMS was estimated to be valued at US$4.58 bn in 2015 and is projected to be worth US$7.39 bn by 2024, expanding at a CAGR of 5.5% therein. Based on volume, the market is forecast to register a 5.6% CAGR from 2016 to 2024.

Obtain Report Details @

https://www.transparencymarketresearch.com/burner-management-system-market.html

Oil and Gas Sector Emerges as Leading End-use Segment in BMS Market

On the basis of component, the BMS market is bifurcated into hardware and software. The hardware components used in burner management systems hold a significant share in the overall market revenue owing to their importance in the addition of significant functionalities and in meeting the design criteria for industry-critical operations.

Based on fuel type, the burner management systems market is categorized into oil, gas, and electricity. Oil-based burners led the BMS market owing to their wide-scale usage over the years. The segment accounted for a 41.1% share in the BMS market in 2015.

However, electricity-based burners are expected to witness significant growth during the forecast period due to the rising need for a cleaner and safer environment in industries.

By application, the burner management systems market is segmented into boilers, furnaces, and kilns and ovens. The installation of boilers in industries is higher as compared to furnaces and kilns and ovens, which thereby increases the share of this application in the overall market.

On the basis of on end use, the burner management systems market includes power, oil and gas, chemicals, mining, metal, and mineral (mmm), refining, water, specialty chemicals, pharmaceutical, glass, food and beverages, alternate fuel, ceramics, building, automotive, and printing and publishing. The oil and gas sector emerged as the leading end-use segment in the burner management systems market in 2015 owing to the increasing demand for energy worldwide.
burner management system market

Request Sample @

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=14204

Strong Presence of BMS Manufacturers Driving Market in North America

The global market for burner management systems has been geographically segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America held the major share in 2015, accounting for over one-third of the total market based on both revenue and volume.

The presence of a large number of BMS manufacturers has made this region a significant market for burner management systems. The total growth of BMS globally from 2014 to 2015 was US$0.23 bn, wherein the share of North America alone was 36.7%.

Asia Pacific is also anticipated to witness significant growth in the burner management systems market through 2024. This can be attributed to the significant population as well as industrial growth across countries such as China, India, and Japan.

Some of the major players in the burner management system market are ABB Ltd., ALSTOM, Honeywell International Inc., BORN, Inc., Doosan Babcock, Pilz GmbH & Co. KG, Siemens AG, Babcock & Wilcox Co., NESTEC Inc., and Titan Logix Corp.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Burner Management Systems (BMS) Market: Electric Burners to Gain Preference over Oil-based Variants by 2024 here

News-ID: 837357 • Views: 139

More Releases from Transparency Market Research

Impact of Outbreak of COVID-19 on Medical Education Market : Global Industry Ana …
Transparency Market Research (TMR) has published a new report on the medical education market for the period of 2019–2027. According to the report, the global medical education market was valued at nearly US$ 31 Bn in 2018, and is projected to expand at a CAGR of more than 4% from 2019 to 2027. Rise in the number of medical schools and increase in cost of medical education are the
Healthcare BI Platform Market Companies Analysis, Advancement and Precise Outloo …
In an intensely competitive healthcare business intelligence (BI) platform market, large players are aggressively focused on expanding their geographical outreach, says Transparency Market Research (TMR) in a new market intelligence report. These large players are leveraging the cloud business model to provide healthcare BI solutions that can be accessed irrespective of location. Apart from this, savvy players are entering into partnerships with hospital groups and healthcare bodies to integrate healthcare BI
Substance Abuse Treatment Market News Research Report 2024
A recent report by Transparency Market Research on the substance abuse treatment market in the U.S. states that the competitive landscape is highly fragmented. This is because around 242 companies compete against one another in it. This also makes overall competition stiff. Some of the companies that have beat competition to emerge as leading players in the market are Pfizer Inc., Alkermes Plc, GlaxoSmithKline Plc., and Purdue Pharma LP. Their
Clinical Oncology Next Generation Sequencing Market is Thriving Worldwide By Siz …
Clinical Oncology Next Generation Sequencing: Introduction Next generation sequencing for tumor and germline DNA is required for oncology screening for therapeutic application. Rise in burden of cancer increases the need for early detection of the condition to carry out the generate target therapy. Companies are investing to develop technologically advanced devices/solutions for precision detection. In 2012, Oxford Nanopore had launched the GridION sequencing platform, which can sequence a human genome in 15

All 5 Releases


More Releases for BMS

Battery Management System (BMS) Market Competitive Dynamics & Global Outlook 202 …
A battery management system (BMS) is an electronic framework that deals with a rechargeable battery. The most vital function that a battery management system does is cell defense and thus it ensures long life of a battery. To guarantee that a battery's charge does not go beyond or under its limit, it has a defending unit called as lithium-ion protector, which protects the cell from getting damaged. If lithium ion battery
Burner Management System (BMS) Market - Strong Presence of BMS Manufacturers Dri …
The top 10 players in the global burner management systems (BMS) market contributed around 45% in 2015, indicating at the highly fragmented nature of this market. ABB Ltd., Siemens AG, Alstom, and Honeywell International are among the leading companies that have established a strong foothold in the global burner management systems market. Transparency Market Research has noted that the presence of a large number of local and global BMS manufacturers
Global BMS Market Research Report 2017
The Global BMS Market Research Report 2017 is a professional and in-depth study on the current state of the BMS industry. Firstly, the report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The BMS market analysis is provided for the international market including development history, competitive landscape analysis, and major regions’ development status. Secondly, development policies and plans are discussed as well as manufacturing processes and cost structures. This report
Battery Management System (BMS) Market Technological breakthroughs By 2024
A battery management system (BMS) is an electronic framework that deals with a rechargeable battery. The most vital function that a battery management system does is cell defense and thus it ensures long life of a battery. To guarantee that a battery's charge does not go beyond or under its limit, it has a defending unit called as lithium-ion protector, which protects the cell from getting damaged. If lithium ion
Battery Management System (BMS) Market - Wireless Bms And Bms Supporting All The …
ells in battery pack must be kept at equal state of charge. If the cells go unstable, every single cell can get strained and lead to premature charge termination and a lessening in the overall life of the battery. Global Battery Management System Market: Drivers and Restraints The key factors that are expected to aid the growth of battery management system market are innovations in automotive segment including e-vehicles. The demand for
Battery Management System (BMS) Market - Important Changes In Market Dynamics
Global Battery Management System Market: Overview A battery management system (BMS) is an electronic framework that deals with a rechargeable battery. The most vital function that a battery management system does is cell defense and thus it ensures long life of a battery. To guarantee that a battery's charge does not go beyond or under its limit, it has a defending unit called as lithium-ion protector, which protects the cell from