The global Burner Management System Market size is anticipated to reach USD 7.63 Billion until 2025. It is expected to register growth with 6.1% CAGR during the forecasted period, 2019 to 2025. This growth can be associated with rapid industrial development and need for ensuring safety and security of employees.
The hardware segment dominated the global market in 2018 on account of rising awareness about burner safety. On the other hand, the software segment is anticipated to register a CAGR of 7.0% from 2019 to 2025. A system mainly comprises of hardware components as compared to the software segment.
In 2018, the segment of medium burners held the largest share of 44% across the global market. While the segment of the large burner is projected to witness CAGR of 7.0% from 2019 to 2025 on account of its operations on the electromechanical relay or electronic control systems that can handle complex systems.
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North America held the largest share of 33.0% across the global market in 2018 and is expected to continue its growth in the upcoming years on account of the rising adoption rate of advanced technologies coupled with the growth of the oil and gas industry. On the other hand, the Middle East & Africa is projected to register the highest 8.0% CAGR from 2019 to 2025 owing to rising demand for boilers across this region.
The burner management systems market includes key players such as Siemens, Schneider Electric, Emerson Electric Co., Honeywell, and ABB. They are constantly engaged in system development and innovation to gain a competitive advantage over other players.
They are also offering features like built-in diagnostics and error checking in their BMS systems to attract the majority of customers across the globe.
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Further key findings from the report suggest:
• The software component segment is anticipated to witness highest CAGR of 7.0% during the forecasted years 2019 to 2025.
• The medium burner system size segment held the largest share of 44% in 2018 across the global market.
• North America held a share of 33% across the global market in 2018.
• The key players in this market areSiemens, Schneider Electric, Emerson Electric Co., Honeywell and ABB.
Million Insights has segmented the global burner management systems market on the basis of platform, fuel type, end-use, component, system size, application, and region:
Burner Management System (BMS) Platform Outlook (Revenue, USD Million, 2015 – 2025)
• Distributed Control System (DCS)
• Programmable Logic Controller (PLC)
Burner Management System (BMS) Fuel Type Outlook (Revenue, USD Million, 2015 – 2025)
Burner Management System (BMS) End-Use Outlook (Revenue, USD Million, 2015 – 2025)
• Oil & Gas
Burner Management System (BMS) Component Outlook (Revenue, USD Million, 2015 – 2025)
• Actuators & Controllers
• Flame Detectors
• Shut-Off Valves
• Ignition Units
• Alarms & Shutdowns
Burner Management System (BMS) System Size Outlook (Revenue, USD Million, 2015 – 2025)
Burner Management System (BMS) Application Outlook (Revenue, USD Million, 2015 – 2025)
Burner Management System (BMS) Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
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