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Pulished Date April, 2021
ID: 11466
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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) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: April, 2021
ID: 11466
Pages: 175

High Integrity Pressure Protection System Market Size, Trends & Growth (2021 - 2026)

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.

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:

  • 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.

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:

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.

High Integrity Pressure Protection System Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada

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

  1. Europe
    1. Norway
    2. Germany
    3. Sweden
  2. Asia Pacific
    1. China
    2. India
    3. Japan

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.

  1. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  2. Middle East and Africa

a. Middle East

b. Africa

Key Players of Market:

Some of the major players operating in the high-integrity pressure protection system (HIPPS) market include 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) among others.

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.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 High Integrity Pressure Protection system Market, By Offering            

                    6.1.1 Components  

                    6.1.2 Services        

                    6.1.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.4 Y-o-Y Growth Rate Analysis         

                    6.1.5 Market Attractiveness Index         

          6.2 High Integrity Pressure Protection system Market, By Industry             

                    6.2.1 Oil & Gas       

                    6.2.2 Chemicals     

                    6.2.3 Power Generation    

                    6.2.4 Food & Beverages    

                    6.2.5 Pharmaceuticals      

                    6.2.6 Water & Wastewater 

                    6.2.7 Metals & Mining       

                    6.2.8 Others 

                    6.2.9 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.10 Y-o-Y Growth Rate Analysis       

                    6.2.11 Market Attractiveness Index       

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Offering    

                    7.2.3 By Industry    

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Offering    

                    7.3.3 By Industry    

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Offering    

                    7.4.3 By Industry    

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Offering    

                    7.5.3 By Industry    

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Offering    

                    7.6.3 By Industry    

8. Key Player Analysis                           

          8.1 Rockwell Automation (U.S.)             

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Emerson Electric Company (U.S.)               

          8.3 Schlumberger Limited (U.S.)            

          8.4 Schneider Electric SE (France)          

          8.5 ABB Ltd. (Switzerland)           

          8.6 General Electric Company (U.S.)                 

          8.7 Siemens AG (Germany)          

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global High Integrity Pressure Protection System Market By Region, From 2021-2026 ( USD Billion )
  2. Global High Integrity Pressure Protection System Market By Offering, From 2021-2026 ( USD Billion )
  3. Global Components  Market By Region, From 2021-2026 ( USD Billion )
  4. Global Services  Market By Region, From 2021-2026 ( USD Billion )
  5. Global High Integrity Pressure Protection System Market By Industry, From 2021-2026 ( USD Billion )
  6. Global Oil & Gas  Market By Region, From 2021-2026 ( USD Billion )
  7. Global Chemicals  Market By Region, From 2021-2026 ( USD Billion )
  8. Global Power Generation  Market By Region, From 2021-2026 ( USD Billion )
  9. Global Food & Beverages  Market By Region, From 2021-2026 ( USD Billion )
  10. Global Pharmaceuticals  Market By Region, From 2021-2026 ( USD Billion )
  11. Global Water & Wastewater  Market By Region, From 2021-2026 ( USD Billion )
  12. Global Metals & Mining  Market By Region, From 2021-2026 ( USD Billion )
  13. Global Others  Market By Region, From 2021-2026 ( USD Billion )

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