High Integrity Pressure Protection System (HIPPS) Market Research Report - Global Forecast till 2030

High Integrity Pressure Protection System (HIPPS) Market Research Report Information Information By Type (Components, Services), End-user Industry (Oil and Gas, Chemicals, Power, Metal and Mining, Food and Beverages, Other Process Industries), and Region — Forecast till 2030

ID: MRFR/SEM/9395-HCR | 100 Pages | Author: Shubham Munde | May 2023         

High Integrity Pressure Protection System (HIPPS) Market

High Integrity Pressure Protection System (HIPPS) market size is projected to witness growth at a CAGR of 7.5% from 2022 to 2030

Segmentation
By Type Components Services
By End-User Industry Oil and Gas Chemicals Power Metal and Mining Food and Beverages Other Process Industries
Key Players
Companies Profiled   Rockwell Automation    Emerson Electric Co.    Severn Glocon Group    Schneider Electric    Yokogawa Electric Corporation    ABB Ltd    Siemens AG    Schlumberger NV    Mogas Industries Inc.    Mokveld Valves BV
Drivers
Market Driving Forces   Increasing need for reducing gas flaring and venting to protect the environment   Investments in emerging economies
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High Integrity Pressure Protection System Market Overview


The global High Integrity Pressure Protection System (HIPPS) market size is projected to witness growth at a CAGR of 7.5% from 2022 to 2030. A High Integrity Pressure Protection System (HIPPS) is a type of safety system that monitors the pressure in liquid-filled piping. It is designed to protect the system from overpressurization and under-pressurization. It consists of a pressure transmitter, an alarm, and a control panel. If the pressure in one pipe drops below the set minimum value, an alarm sounds and the control panel shuts off power to that pipe.


COVID-19 Impact Analysis


Despite the pandemic, it is believed to have a significant impact on the oil & gas industry. The decline experienced in the industry in 2020 had a big effect on that. Many production demands have been reduced as a result of the lockdown of international borders, nonoperational distribution channels, and various preventive measures undertaken to ensure public health and safety. Furthermore, additional restrictions on foreign trade due to shortages in the supply chain caused delays or interruptions and contributed to lower production volumes. In 2020, the HIPPS market experienced a drop in growth. However, the high-integrity pressure protection system market showed signs of recovery in 2021 with stabilized oil prices and production.


Market Dynamics


The High Integrity Pressure Protection System market is expected to grow due to the increasing need for high-quality and reliable systems. People are investing more and more in technology that allows for safer, more efficient, and cost-effective operations. The demand for these systems is being driven by the continuous increase in production rates due to emerging technologies such as automation, robotics, and artificial intelligence.


Drivers



  • Increasing need for reducing gas flaring and venting to protect the environment


Gas flaring is usually carried out during scheduled maintenance, equipment repair, or shutdown events. It provides controlled pressure release from the gas collection and processing systems with minimal environmental impact on the environment. This is used to maintain pressure and ensure safe and efficient plant operations. This increases the costs associated with emissions of these harmful gases due to process industry emissions regulation. No earthen material is thrown away when it's used as part of the gas venting process with MCD. The equipment is re-used for a new treatment process. Again, this provides a healthier environment both for people and the environment. Oil & gas manufacturers are reducing their steps to zero emissions by employing FLNG vessels and improving the way they compress natural gas.


Restraint:



  • High installation costs


The installation and maintenance of HIPPS components can be a considerable burden on medium- and small-sized organizations. For these types of companies, it can be difficult to manage the costs associated with HIPPS systems for their healthcare facilities. In addition, it needs to comply with evolving regulatory standards that have been frequently updated according to technological advancements and new mandates. This is leading to the requirement for organizations that use the systems to upgrade safety systems. It's necessary to deploy safety components and systems.


Opportunity:



  • Investments in emerging economies 


There are growing opportunities for companies in this market due to the increasing demand for safety systems. There are also high growth potentials with the increasing demand for these systems across different industries. The industrial sector, which includes the oil & gas, and chemical industries, continues to grow consistently in both emerging & developed countries. Since petrochemicals are a major part of industries that rely on feed sources, the demand for blooming feedstock is rising. With the rise in demand, the quantity of feedstock that is needed is also seen to increase. Many projects related to the production and transportation of oil and gas have been planned on a global level.


Segment Overview


By Type


Based on type, the global High Integrity Pressure Protection System (HIPPS) market has been segmented based on Components, Services. The services segment is the fastest growing in the global  High Integrity Pressure Protection System market.


By End-Use Industry


Based on the end-use industry, the global  High Integrity Pressure Protection System (HIPPS) market has been segmented based on Oil and Gas, Chemicals, Power, Metal and Mining, Food and Beverages, and Other Process Industries. The oil and gas segment is expected to be the fastest-growing in the global  High Integrity Pressure Protection System (HIPPS) market.


Regional Analysis


By region, the global  High Integrity Pressure Protection System (HIPPS) market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region holds the largest market for the  High Integrity Pressure Protection System (HIPPS) business.


Asia-Pacific Market


The Asia-Pacific region has a huge potential for high-tech industries, which is driving demand for pressure protection systems by increasing their adoption across different industries such as automotive, aerospace and defense, chemical engineering, and oil & gas. Additionally, with its growing industrial sector, Asia Pacific also has a huge demand for pressure protection systems from residential buildings.


North America Market


The North American region is growing in the High Integrity Pressure Protection System (HIPPS) market. This can be attributed to the increasing demand for HIPPS and its ability to protect against rising risks of explosions, fires, and power outages. This is because the demand for HIPPS has increased due to its ability to protect against the risks of explosions, fires, and power outages.


Competitive Landscape


The High Integrity Pressure Protection System Market comprises various national and international players. The market players are investing in R&D and also finding new ways to develop and improve product portfolios. Various players are entering into expansion, new product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.


Prominent players in the global High Integrity Pressure Protection System (HIPPS) market include Rockwell Automation, Emerson Electric Co., Severn Glocon Group, Schneider Electric, Yokogawa Electric Corporation, ABB Ltd, Siemens AG, Schlumberger NV, Mogas Industries Inc., Mokveld Valves BV.


Scope of the Report


Global High Integrity Pressure Protection System Market, by Type



  • Components

  • Services


Global High Integrity Pressure Protection System Market, by End-Use



  • Oil and Gas

  • Chemicals

  • Power

  • Metal and Mining

  • Food and Beverages

  • Other Process Industries


Global High Integrity Pressure Protection System Market, by Region



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia and New Zealand

    • Rest of Asia-Pacific



  • Rest of the World

    • South America

    • Middle East

    • Africa




Objectives of the Study


The objectives of the study are summarized in 5 stages. They are as mentioned below:



  • Market Size and Forecast:


To identify and estimate the market size for the global High Integrity Pressure Protection System (HIPPS) market segmented by product type, material type, category, shape, and distribution channel by value (in US dollars). Also, to understand the consumption/ demand created by consumers of High Integrity Pressure Protection System (HIPPS) during the period of 2019-2030



  • Market Landscape and Trends:


To identify and infer, the drivers, restraints, opportunities and challenges for the global High Integrity Pressure Protection System (HIPPS) market



  • Market Influencing Factors:


To find out the factors which are affecting the sales of High Integrity Pressure Protection System (HIPPS) among consumers



  • Impact of COVID-19:


To identify and understand the various factors involved in the global High Integrity Pressure Protection System (HIPPS) market affected by the pandemic



  • Company Profiling:


To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies


Intended Audience



  • High Integrity Pressure Protection System (HIPPS) Producers

  • Raw Material Suppliers

  • Retailers, Wholesalers, and Distributors

  • Governments, Associations, and Industrial Bodies

  • Investors and Trade Experts


 



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD Billion
  CAGR   7.5%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019, 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, End-Use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Rockwell Automation, Emerson Electric Co., Severn Glocon Group, Schneider Electric, Yokogawa Electric Corporation, ABB Ltd, Siemens AG, Schlumberger NV, Mogas Industries Inc., Mokveld Valves BV
  Key Market Opportunities   Investments in emerging economies
  Key Market Drivers   Increasing need for reducing gas flaring and venting to protect the environment


Frequently Asked Questions (FAQ) :

The global High Integrity Pressure Protection System (HIPPS) market is growing at a CAGR of 7.5% over the study period

The study period of the global High Integrity Pressure Protection System (HIPPS) market is 2019 - 2030

Rockwell Automation, Emerson Electric Co., Severn Glocon Group, Schneider Electric, Yokogawa Electric Corporation, ABB Ltd, Siemens AG, Schlumberger NV, Mogas Industries Inc., and Mokveld Valves BV are the major companies operating in the global High Integrity Pressure Protection System (HIPPS) market.

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players’ financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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