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US Oil and Gas Burner Management System Market Report 2022: Industry Set to Grow at a CAGR of 6.3% to 2028DUBLIN, 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. Furthermore, the global importance of Safety Integrity Levels (SIL) in the process indstries 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. 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.
For more information about this report visit https://www.researchandmarkets.com/r/yoimpf Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1904 View original content:https://www.prnewswire.com/news-releases/us-oil-and-gas-burner-management-system-market-report-2022-industry-set-to-grow-at-a-cagr-of-6-3-to-2028--301574960.html SOURCE Research and Markets |