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High-Integrity Pressure Protection System (HIPPS) Market

High-Integrity Pressure Protection System (HIPPS) Market Size, Share & Segment 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), and By Regions | Global Market Forecast 2022-2028

Report Id: SNS/SEMI/1614 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

High-Integrity Pressure Protection System (HIPPS) Market Size was valued at USD 454.5 million in 2021 and is expected to reach USD 715.7 million by 2028, and grow at a CAGR of 6.7% over the forecast period 2022-2028.

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.

High-Integrity Pressure Protection System (HIPPS) Market Pie Chart

MARKET DYNAMICS

KEY DRIVERS

  • Rising need for reducing gas flaring & venting to protect environment.

RESTRAINTS

  • High installation cost associated with HIIPS.

  • Comply with regulatory standards.

OPPORTUNITIES

  • Enlargement of refineries and petrochemical plants

CHALLENGES

  • Complication in HIPPS design.

IMPACT OF COVID-19: 

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.

COMPETITIVE LANDSCAPE:

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.

MARKET SEGMENTATION:

BY TYPES

  • Electronic HIPPS

  • Mechanical HIPPS

BY COMPONENTS

  • 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

High-Integrity Pressure Protection System (HIPPS) Market 2022

REGIONAL ANALYSIS:

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.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

 

High-Integrity Pressure Protection System (HIPPS) Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 454.5 Million
Market Size by 2028 US$ 715.7 Million
CAGR CAGR of 6.7% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • 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)
Regional Analysis/Coverage 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)
Company Profiles Emerson Electric, Yokogawa Electric, HIMA Paul Hildebrandt, Rockwell Automation, Schneider Electric, Honeywell International, ABB, Siemens, Schlumberger, Baker Hughes, General Electric Company and Other Players.
Key Drivers • Rising need for reducing gas flaring & venting to protect environment.
Restraints • High installation cost associated with HIIPS.
• Comply with regulatory standards.


Frequently Asked Questions (FAQ) :

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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. High-Integrity Pressure Protection System (HIPPS) Market Segmentation, by type

8.1Introduction

8.2 Electronic HIPPS

8.3 Mechanical HIPPS

 

9. High-Integrity Pressure Protection System (HIPPS) Market Segmentation, by component

9.1 Introduction

9.2 Final Element

9.3 Field Initiators

9.4 Logic Solver

9.5 Others

 

10. High-Integrity Pressure Protection System (HIPPS) Market Segmentation, by services

10.1 Introduction

10.2 Training and Consultation

10.3 Testing, Inspection and Certification

10.4 Maintenance

 

11. High-Integrity Pressure Protection System (HIPPS) Market Segmentation, by Industry

11.1 Introduction

11.2 Oil & Gas

11.3 Power Generation

11.4 Pharmaceuticals

11.5 Metals & Mining

11.6 Chemicals

11.7 Food & Beverages

11.8 Water & Wastewater

11.9 Others

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

 

13 Company Profiles

13.1 Yokogawa Electric

13.1.1 Financial

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

13.7 ABB

13.8 Siemens

13.9 Schlumberger

13.10 Baker Hughes

13.11 General Electric Company

13.12 Other

 

14 Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

 

15 Conclusion

 

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Secondary Research

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