Global Market for Burner Management System Projected to be Valued at US$7.39 bn by 2024
Global BMS market provides analysis both in terms of value and shipment for the period from 2014-2024, wherein 2015 is the base year and the years from 2016 to 2024 are the forecast period. Data for 2014 has been included as historical information.
Albany, New York, December 8, 2016: A new research report added recently to the expanding catalog of Market Research Hub(MRH) titled, ”Burner Management System Market- Global Market Analysis, Share, Size, Growth, Trends & Forecast 2016-2024”. The study provides a holistic perspective on market growth during the forecast period in terms of revenue and volume estimates across different geographies including North America, Europe, Asia Pacific (APAC), South America, Middle East and Africa (MEA). According to the report, in 2015 global market for BMS was estimated to be valued at US$4.58bn and is projected to be worth US$7.39bn by 2024, growing at a CAGR of 5.5%. Based on volume, the market is forecast to register a CAGR of 5.6% from 2016 to 2024.
Request For Sample Report: http://www.marketresearchhub.com/enquiry.php?type=S&repid=879396
Initially, the report describes market overview of burner management systems with its definition and scope. Safety is a key concern within every industry that conducts heater or burner-based operations. Any malfunctioning in the heaters in industries could lead to major loss of life, property and finance. To avoid these concerns, a burner management system (BMS) is a safety solution for power generation facilities that enables the safe start-up, operation & shut down of the multiple-burner sections of a boiler. The main function of BMS is to protect any kind of industrial boilers from explosion. It also reduces the critical troubleshooting time with the help of pinpoint diagnostic messaging. With the use of BMS, it will improve plant performance, reduce the ownership costs and ensures regulatory compliance in an industry. These advantages act as the major factors boosting the global burner management systems (BMS) market.
The report further segments the market on the basis of component, fuel type, application and end-use. By component, it includes hardware and software. On the basis of fuel type, the market is segmented into:
On the basis of BMS application, the market is segmented into:
• Kilns and Ovens
The BMS end-use segments contain- oil and gas, power, chemicals, mining, metal and mineral, refining, water, specialty chemicals, pharmaceutical, food & beverages, glass, ceramics, building, automotive, printing & publishing and others.
According to the geographical analysis, North America dominates the overall BMS market globally, owing to industrialization growth in this region. This increasing industrialization rate would flow the implementation of BMS in boiler operations in the industries in North America.
Browse Full Report with TOC: https://goo.gl/NSzhHV
Some of the major players profiled in the report include ABB Ltd., ALSTOM, Titan Logix Corp., Honeywell International Inc., BORN, Inc., Pilz GmbH & Co. KG, Siemens AG, Babcock & Wilcox Co., Doosan Babcock and NESTEC Inc.
About Market Research Hub:
Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.
MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.
90 State Street,
Albany, NY 12207,
Toll Free: 866-997-4948 (US-Canada)
Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. Our reputation lies in delivering value and world-class capabilities to our clients.
Dec 07, 2016