DUBLIN, June 24, 2022 /PRNewswire/ -- The "US Oil and Gas Burner Management System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Component, Burner Type, and Application" report has been added to ResearchAndMarkets.com's offering.
The US oil and gas burner management system market is expected to reach US$ 1,308.5 million by 2028 from US$ 853.2 million in 2021; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028.
Several accidents and occurrences caused various governments to establish safety legislations. The entire industry adheres to safety standards and rules to avoid accidents. For the past few years, safety controls on direct-fired heaters have been steadily improving, and the trend has accelerated in the last five years.
This is owing to government rules and standards that actively enforce the application of current codes. Some specific and prescriptive standards have been accessible for a long time, yet the industry's rate and degree of acceptance vary greatly. The majority of operating organizations have their own set of criteria, which may differ from one facility to another.
The adoption of advanced BMS across various industries has been prompted by increased stringency of government rules and regulations and surged number of lawsuits for accidents where appropriate codes and guidelines were not followed for both existing and new heater installations.
BMS are typically designed using codes and standards, such as NFPA 85 (Boiler and Combustion Systems Hazard Code), NFPA 86 (Standard for Ovens and Furnaces), NFPA 87 (Recommended Practice for Fluid Heaters), or API 556 (Application Specification for Boilers and Combustion Systems). These standards specify the quantity, quality, and sensors and valves types that must be used to design the BMS and the logic that must be used to trip the device when needed safely.
Safety systems are now being designed using new performance-based standards, such as IEC 61508, IEC 61511, and ANSI/ISA S84.01. 1. These standards establish criteria for the amount of risk a specific end user is willing to accept, thus addressing the hazards connected with a particular location.
Furthermore, the global importance of Safety Integrity Levels (SIL) in the process industries expanded dramatically in recent years, which has driven the development of the burner management system, as BMS is compliant with SIL levels up to 3. All of these factors are driving the market growth.
Due to the presence of prominent market players and end-users and high demand from the oil & gas industry, the oil and gas burner management system (BMS) market in the US is expected to grow significantly during the forecast period. Furthermore, owing to the expansion of the industrial sector in the US, the country offers considerable long-term potential for manufacturers.
With thousands of boilers, furnaces, and ovens in use worldwide, the risk of a combustion system failing is always present, especially as these systems grow in size and complexity. An inexperienced operator could mistakenly shut off a crucial fuel system when added in a single-point failure. Training and instruction in combustion can reduce losses, improve employee safety, increase equipment uptime, and boost a company's overall competitiveness.
Most insurance carriers accept the NFPA's combustion safety recommendations completely or use them as a foundation for their own customized rules because the NFPA continues to improve them. Training is an important aspect of safety that the NFPA 86 standard devotes numerous parts to it.
Furthermore, training increases overall production while also lowering costs. Having in-house workers with the ability to detect flaws, for example, will result in improved fuel efficiency, fewer disruptions, and the avoidance of outages and downtime. Training is also a legal requirement that must be fulfilled every year.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. US Oil & Gas Burner Management System Market Landscape
4.1 Market Overview
4.2 US PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. US Oil & Gas Burner Management System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Safety Concerns in Industries
5.1.2 Rising Government Legislation and Regulations
5.2 Market Restraints
5.2.1 Lack of Technical Knowledge and Skilled Workforce
5.3 Market Opportunities
5.3.1 Rising Growth of Oil and Gas Industry in the US
5.4 Future Trends
5.4.1 IoT Based Automated Burner Management System
5.5 Impact Analysis of Drivers and Restraints
6. Oil & Gas Burner Management System - US Market Analysis
6.1 US Oil & Gas Burner Management System Market Overview
6.2 US: Oil & Gas Burner Management System Market - Revenue, and Forecast to 2028 (US$ Million)
6.3 Market Positioning - US Market Players Ranking
7. US Oil & Gas Burner Management System Market Analysis By Component
7.2 US: Oil & Gas Burner Management System Market, by Component (2020 and 2028)
8. US Oil & Gas Burner Management System Market Analysis By Burner Type
8.2 US: Oil & Gas Burner Management System Market, By Burner Type (2020 and 2028)
8.3 Single Burner
8.4 Multiple Burner
9. US Oil & Gas Burner Management System Market Analysis By Application
9.2 US: Oil & Gas Burner Management System Market, by Application (2020 and 2028)
9.7 Vertical treaters
9.8 Horizontal treaters
10. US Oil & Gas Burner Management System Market- COVID-19 Impact Analysis
11. US Oil & Gas Burner Management System Market-Industry Landscape
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Product launch
12. US Oil & Gas Burner Management System Market-Client Query
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