The global burner management system market size is expected to reach USD 7.63 billion by 2025, registering a CAGR of 6.1% from 2019 to 2025, according to a new report by Grand View Research, Inc. This growth can be attributed to the rapid rate of industrial development worldwide, coupled with the need to improve plant uptime and ensure regulatory compliance. Rise in regulations concerning employee safety at workplace is also expected to drive the adoption of burner management systems globally. A typical BMS is responsible for the safe start-up, shutdown, and operation of a boiler.
A BMS monitors and controls the main burners and igniters, utilizes safety shut-off valves, temperature, pressure, valve, and flow position limit switches, employs flame scanners to detect and differentiate between the main flames and igniter, and uses blowers to provide combustion air for the igniters and/or to cool the scanners. The steady expansion of industries such as chemical and oil & gas across the globe is likely to affect the growth of the burner management system market positively. These systems are also witnessing substantial demand from industries such as power generation and pharmaceutical. As the intensity of competition rises exponentially across industries, the increasing need to reduce control system engineering & start-up costs, reduce emissions, save fuel, and improve the reliability of burner operations is further expected to drive the market.
Developing countries such as India, Malaysia, the Philippines, and Indonesia are witnessing a rising demand for energy, resulting in the increased installation of new power plants. This growth in the deployment of new and modernization of existing power plants is expected to propel the market growth over the forecast period. In terms of region, the MEA regional market is likely to emerge as the fastest-growing BMS market over the forecast period.
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Further key findings from the report suggest:
· In terms of end-use, the oil & gas segment accounted for the largest share of the overall market in 2018 and is expected to register a CAGR of over 5% from 2019 to 2025
· In terms of system size, the large BMS segment is expected to gain significant market share by the end of the forecast period and is projected to emerge as the fastest-growing segment over the forecast period
· North America is expected to dominate the overall burner management market share over the forecast period. The Middle East & Africa is expected to grow at the highest CAGR of above 8% from 2019 to 2025
· Emerson Electric Co., Siemens, ABB, Schneider Electric, Honeywell, and Rockwell Automation, Inc. are some of the top players operating in the industry.
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Grand View Research has segmented the global burner management system market on the basis of platform, fuel type, end-use, component, system size, application, and region.
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