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Global High Integrity Pressure Protection System Market segmentation by Offering (components, services) By Industry (oil and gas, chemicals, power generation, food and beverages, pharmaceuticals, water and wastewater, metals and mining, others), and Regional Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) and – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2022 – 2027)

Published: January, 2022
ID: 11466
Pages: 175
Formats: report pdf report excel report power bi report ppt

High Integrity Pressure Protection System Market (2022 – 2027)

High Integrity Pressure Protection System (HIPPS) can be defined as a type of safety instrumented system specifically designed to work with high-pressure applications and prevent overpressure in a plant, such as a chemical plant or an oil refinery. This system shuts down the high-pressure source and shuts down all functions before the system design pressure is exceeded, thus preventing loss of containment due to rupture (explosion) of a pipe or vessel. Globally, the rise in high-pressure work applications and strict safety guidelines for industrial applications is expected to be a major driver of HIPPS growth during the study period.

High Integrity Pressure Protection System Market

The High Integrity Pressure Protection System or HIPPS is a safety system designed to prevent overpressure in any installation. HIPPS is designed for the better shutdown of emergency processes and systems. The high integrity pressure protection system prevents a system from shutting down above the rated pressure level. The HIPPS shuts off the high-pressure source in the system before the overall design pressure is exceeded. This helps prevent losses resulting from a line or vessel breaking and is therefore used in different industry verticals. The global market for high integrity pressure protection systems has been segmented based on standards, components, end-use industries, and geography.

Recent Developments in High Integrity Pressure Protection System Industry:

  • L&T Valves offers custom SIL-3 compliant HIPPS for overpressure protection leveraging five decades of experience in flow control and systems integration.
  • EcoStruxure Triconex security systems provide lifetime security, providing superior protection for people, production, and profits over the life of the asset.

HIGH INTEGRITY PRESSURE PROTECTION SYSTEM MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2027

Base Year

2021

Forecast Period

2022 - 2027

CAGR

xx%

Segments Covered

By Offering, Industry, and Region.

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Rockwell Automation (U.S.), Emerson Electric Company (U.S.), Schlumberger Limited (U.S.), Schneider Electric SE (France), ABB Ltd. (Switzerland), General Electric Company (U.S.) and Siemens AG (Germany) and Others.

 

Drivers and Restraints of High Integrity Pressure Protection System Market:

Drivers: 

The reduction in the cost and weight of downstream vessels has been an important factor that has had a positive impact on the growth of the global HIPPS market.

Additionally, the increased ability to support flowline applications has led to the application of HIPPS in different industries, especially in the oil and gas sector. The use of HIPPS also reduced costs related to transportation and storage due to the reduction in volume and weight, further increasing the overall demand for a high-integrity pressure protection system on a global scale. Apart from this, the application of HIPPS also eliminates the need to install discharge devices to avoid gas emissions to the atmosphere, as it is covered by HIPPS. HIPPS also prevents overpressure in downstream vessels, which has been another crucial factor in the growing application and demand for high-integrity pressure protection systems globally, helping the global market expansion to the entire world.

Restraints:

Taking all these factors into account, it is the maintenance of strict standards for the implementation of a high integrity pressure protection system that has been a major limitation for this market on a global scale. Apart from this, it is also the technical complexity associated with the implementation of a high integrity pressure protection system that has also been another major constraint limiting the growth of this market on a global scale. The wide application of the high integrity pressure protection system with the evolution of technology in different industries will provide huge growth opportunities for the growth of the high integrity pressure protection system market in the coming years.

High Integrity Pressure Protection System Market Segmentation Analysis:

By Offering

  • Components 
  • Services 

Components accounted for HIPPS 'largest market share in 2018, and a similar trend is expected to continue in the coming years due to its increasing adoption in the process industries. HIPPS complete solutions include pressure sensors/transmitters, logic solvers, valves, actuators, and other components such as solenoids, control panels and software, alarms, valve positioners, manifolds, and accessories. The valves are used to control the pressure of the installation and to evacuate a certain quantity of steam or gas without electrical energy. The valves turn on or off the flow of any hazardous fluid or external hydrocarbons (gas) upon detecting a hazardous event. Logic solvers are highly flexible, efficient, reliable, and secure and can be easily installed. Many standard and safety-related applications in the process industry require one or more single-loop logic solvers, providing easy-to-use benefits and flexibility to programmers.

By Industry

  • Oil & Gas 
  • Upstream 
  • Midstream 
  • Downstream 
  • Chemicals 
  • Power Generation 
  • Food & Beverages 
  • Pharmaceuticals 
  • Water & Wastewater 
  • Metals & Mining 
  • Others 

Safety and reliability are critical factors for the chemical industry. For a reliable and accurate workflow in this industry, the functional safety of the facilities is necessary. The chemical industry has inherent risks due to the presence of hazardous materials such as gases and chemicals. Each year, many workers are injured, affected, or die as a result of exposure to harmful chemicals. These incidents cause human suffering, lost production, and high medical costs. Chemical companies are increasingly implementing HIPPS to meet strict safety standards and reduce gas flaring. Due to this fact, the HIPPS market in the chemical industry is likely to grow at the highest CAGR during the forecast period.

Geographical Segmentation Analysis:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Region Analysis:

North America was followed by Asia Pacific and Europe as the second and third largest markets for the high integrity pressure protection systems market.

Asia-Pacific is expected to experience the fastest growth, due to the increasing importance of industrial and machine safety by organizations and the influence of multinational companies in the adoption of safety systems.

IMPACT OF COVID-19 ON HIGH INTEGRITY PRESSURE PROTECTION SYSTEM MARKET:

Oil and gas is one of the important target segments of the High Integrity Pressure Protection System (HIPPS) market. With the recent outbreak, the industry has seen a downward trend, affecting the growth of the market. From a demand perspective, oil and gas have been challenged by the effects of the COVID-19 outbreak. For this reason, producers quickly reduced capital expenditures and drilling programs. The pandemic has impacted the progress of several projects, causing the blockage or delay of the pipelines.

Key Players in the Market:

Major Key Players operating in the Global high-integrity pressure protection system (HIPPS) Market are

  • Rockwell Automation (U.S.)
  • Emerson Electric Company (U.S.)
  • Schlumberger Limited (U.S.)
  • Schneider Electric SE (France)
  • ABB Ltd. (Switzerland)
  • General Electric Company (U.S.)
  • Siemens AG (Germany)

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