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.

Albany, NY -- (SBWire) -- 11/30/2016 --This report on the global BMS market provides analysis both in terms of value and shipment for the period from 2014 to 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. The report covers all the prevalent trends and technologies playing a major role in the growth of the BMS market over the forecast period from 2016 to 2024. It also highlights the various drivers, restraints, and opportunities expected to influence the market's growth during the said period. The study provides a holistic perspective on market growth throughout the forecast period in terms of revenue and volume estimates (in US$ Bn and Million Units) across different geographies, which include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America.

The main function of BMS is to protect any kind of industrial boilers from explosion. It ensures a safe and systematic operating sequence during the start-up and shutdown of heaters and reduce any possible errors. These systems protect against any damage in the combustion process equipment and the surrounding area. BMS also simplifies the unit operation with the help of alarm management and operator displays. It reduces the critical troubleshooting time with the help of pinpoint diagnostic messaging. The use of BMS can improve plant performance, reduce the ownership costs and ensure regulatory compliance in an industry. North America dominates the overall BMS market globally, owing to swelling industrialization growth in this region. This increasing industrialization rate would surge the implementation of BMS in boiler operations in the industries in North America.

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Burner Management System (BMS) Market: Segmentation

This research report provides in-depth analysis of the global BMS market on the basis of component, fuel type, application, and end-use. The BMS market based on component includes hardware and software. On the basis of fuel type, the market is segmented into oil, gas, and electricity. On the basis of BMS application, the market is segmented into boilers, furnace, and kilns and ovens. The BMS end-use segments include oil and gas, power, chemicals, mining, metal and mineral (mmm), refining, water, specialty chemicals, pharmaceutical, food & beverages, glass, ceramics, alternate fuel, building, automotive, printing & publishing and others.

In terms of geographical regions, the report segments the global BMS market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America; the regions are analyzed in terms of revenue generation and shipment. The report provides cross-sectional analysis of the global BMS market in terms of market estimates and forecasts for all segments across different geographic regions.

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Burner Management System (BMS) Market: Competitive Landscape

The report also includes competitive profiling of major players engaged in the development of BMS. The major business strategies adopted by these players, their market positioning, and their recent developments have also been identified in the research report. This report also provides market positioning analysis of the major players in the BMS market based on their 2015 revenues. Some of the major players profiled in the report include 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.

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