High-Integrity Pressure Protection System (HIPPS) Market Size was valued at USD 484.95 million in 2022 and is expected to reach USD 814.72 million by 2030, and grow at a CAGR of 6.7% over the forecast period 2023-2030.
The High-integrity pressure protection system (HIPPS) is a source of safety equipment that closes the source and removes pressure on the upper side of the system to reduce the pressure created during hazardous processes, especially in the oil and gas industries. A safety system is used in the processing industry to avoid loss of protection when a ship or pipe breaks due to excessive pressure. Assistive devices can be used to relieve excessive stress, but removing flammable, explosive, hazardous or toxic process fluids from the environment can be harmful to people and to the environment. Mechanical relief were needed when connecting new gas production facilities to the gas station site to protect gas or pipeline production facilities. New production sources connected to existing pipelines protect the pipeline from strong pressure that could cause unwanted combustion of hydrocarbons emitted into the atmosphere by a flare system.
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Rising need for reducing gas flaring & venting to protect environment.
High installation cost associated with HIIPS.
Comply with regulatory standards.
Enlargement of refineries and petrochemical plants
Complication in HIPPS design.
COVID-19 has had a severe impact on the global economy as well as all industries. To stop the plague from spreading, governments in several countries have established borders. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption.
The outbreak and spread of the COVID-19 epidemic have adversely affected the growth of the oil and gas industry. The imposition of various governmental restrictions worldwide by 2020 created a huge gap between supply and demand. The slowdown in industry growth has had a negative impact on HIPPS market growth by 2020. In addition, restrictions on foreign trade due to the closure of international borders, inactive distribution channels, and various preventive measures taken in public health and safety have affected the production and procurement of required components in the HIPPS system. Therefore, by 2020, the HIPPS market saw a growth rate of about 5%. However, the market recovered in 2021 by stabilizing oil prices and production.
Based on Service, the High-Integrity Pressure Protection System (HIPPS) Market are sub divided into Training and Consultation, Testing, Inspection and Certification and Maintenance. The acceptance of HIPPS is growing in green field projects, which has improved the need for services in HIPPS as it helps to improve and extend the working life of HIPPS. Testing, inspection, and certification services play an important role in the HIPPS market. HIPPS is routinely tested for malformations, defects, and any other errors that may reduce its reliability of performance, leading to failure. Maintenance is an important factor in the entire HIPPS life cycle. This helps to ensure the maintain the designed SIL scale of the system.
Based on Industry, the High-Integrity Pressure Protection System (HIPPS) Market are sub divided into Oil & Gas, Power Generation, Pharmaceuticals, Metals & Mining, Chemicals, Food & Beverages, Water & Wastewater and Others. Among all of this Oil & Gas industry is accounted for largest share in the High-Integrity Pressure Protection System (HIPPS) Market.
Training and Consultation
Testing, Inspection and Certification
Oil & Gas
Metals & Mining
Food & Beverages
Water & Wastewater
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The APAC HIPPS market is expected to grow at a very high CAGR due to the increase in the number of oil and gas refineries and significant growth in the chemical industry. APAC introduces high-capacity HIPPS deployment in the oil and gas, chemical, and power industries. The growing demand for petrochemical chemicals in countries such as China and India are increasing production of oil, gas and chemicals. The oil and gas industry are likely to see an increase in demand for HIPPS, with a growing number of green regional projects planned in countries such as India and China.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The key players in the High-Integrity Pressure Protection System (HIPPS) Market are Emerson Electric, Yokogawa Electric, HIMA Paul Hildebrandt, Rockwell Automation, Schneider Electric, Honeywell International, ABB, Siemens, Schlumberger, Baker Hughes, General Electric Company and Other Players.
Yokogawa Electric-Company Financial Analysis
|Market Size in 2022
|US$ 484.95 Million
|Market Size by 2030
|US$ 814.72 Million
|CAGR of 6.7% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• By Type (Electronic HIPPS, Mechanical HIPPS)
• By Component (Final Element, Field Initiators, Logic Solver, Others)
• By Services (Training And Consultation, Testing, Inspection And Certification, Maintenance)
• By Industry (Oil & Gas, Power Generation, Pharmaceuticals, Metals & Mining, Chemicals, Food & Beverages, Water & Wastewater, Others)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Emerson Electric, Yokogawa Electric, HIMA Paul Hildebrandt, Rockwell Automation, Schneider Electric, Honeywell International, ABB, Siemens, Schlumberger, Baker Hughes, General Electric Company and Other Players.
|• Rising need for reducing gas flaring & venting to protect environment.
|• High installation cost associated with HIIPS.
• Comply with regulatory standards.
The market value will be expected to reach USD 715.7 million by 2028, and grow at a CAGR of 6.7% over the forecast period of 2022-2028.
High installation cost associated with HIIPS, and Comply with regulatory standards are limiting the High-Integrity Pressure Protection System (HIPPS) Market's expansion.
The imposition of various governmental restrictions worldwide by 2020 created a huge gap between supply and demand. The slowdown in industry growth has had a negative impact on HIPPS market growth by 2020. In addition, restrictions on foreign trade due to the closure of international borders, inactive distribution channels, and various preventive measures taken in public health and safety have affected the production and procurement of required components in the HIPPS system. Therefore, by 2020, the HIPPS market saw a growth rate of about 5%. However, the market recovered in 2021 by stabilizing oil prices and production.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. High-Integrity Pressure Protection System (HIPPS) Market Segmentation, by type
8.2 Electronic HIPPS
8.3 Mechanical HIPPS
9. High-Integrity Pressure Protection System (HIPPS) Market Segmentation, by component
9.2 Final Element
9.3 Field Initiators
9.4 Logic Solver
10. High-Integrity Pressure Protection System (HIPPS) Market Segmentation, by services
10.2 Training and Consultation
10.3 Testing, Inspection and Certification
11. High-Integrity Pressure Protection System (HIPPS) Market Segmentation, by Industry
11.2 Oil & Gas
11.3 Power Generation
11.5 Metals & Mining
11.7 Food & Beverages
11.8 Water & Wastewater
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13 Company Profiles
13.1 Yokogawa Electric
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Emerson Electric
13.3 HIMA Paul Hildebrandt
13.4 Rockwell Automation
13.5 Schneider Electric
13.6 Honeywell International
13.10 Baker Hughes
13.11 General Electric Company
14 Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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