Asia-Pacific High-Integrity Pressure Protection Systems (HIPPS) Market, By Type (Electronics HIPPS, Hydraulic/Mechanical HIPPS), Offering (Component, Services), Industry (Oil & Gas, Power Generation, Chemical, Water and Wastewater, Food and Beverages, Pharmaceutical, Metal & Mining, Paper & Pulp and Others), Country (China, India, Japan, South Korea, Indonesia, Singapore, Australia, Thailand, Malaysia, Philippines, Rest of Asia-Pacific), Market Trends and Forecast to 2027.
Market Analysis and Insights: Asia-Pacific High-Integrity Pressure Protection Systems (HIPPS) Market
High-integrity pressure protection systems (HIPPS) market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 9.5% in the forecast period of 2020 to 2027 and expected to reach USD 240.16 million by 2027 from USD 116.96 million in 2019. Rising government investment in the renewable sources has increase the extraction of oil and natural gas is one of the prominent factor for the market growth.
HIPPS can be defined as a safety instrumented system which is used for separating the downstream part of the plant from the upstream part when the over pressurization case is occur in plant. The major benefit of this system is that it protects the plant from explosion and leakage of hazardous and toxic material where traditional pressure relief systems are not capable enough for handling the over pressurization. This system can be used for both subsea and topside operations. Therefore, this system is currently the best choice for protecting the plants from hazardous accidents
This High-Integrity Pressure Protection System (HIPPS) Market report provides details of market share, new developments, and impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific High-Integrity Pressure Protection Systems (HIPPS) Market Scope and Market Size
High-integrity pressure protection systems (HIPPS) market is segmented on the basis of type, offering and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on type, the market is segmented into hydraulic/mechanical HIPPS and electronic HIPPS. Electronic HIPPS system accounted largest market share due to the growing replacement of traditional safety system with electronic HIPPS system in the various sector that has resulted in increasing demand for the electronic HIPPS.
- Based on offering, the market is segmented into component and services. Component accounted largest market share as the growing demand of functional safety system in the various end–use industries has increased the production of the component in order to fulfil the demand of HIPPS system.
- Based on industry, the market is segmented into oil & gas, power generation, chemical, water and wastewater, food and beverages, pharmaceutical, metal & mining, paper & pulp and others. The oil and gas accounted largest market share is due to the rising government subsidies for the oil and gas production which has resulted in increasing drilling of the oil and natural gas in the Asian countries. This factor has increased the demand for the HIPPS system.
High-integrity Pressure Protection Systems (HIPPS) Market Country Level Analysis
High-integrity pressure protection systems (HIPPS) market is analysed and market size information is provided by country, type, offering, and industry referenced above.
The countries covered in the high-integrity pressure protection systems (HIPPS) market report are China, India, Japan South Korea, Indonesia, Singapore, Australia, Thailand, Malaysia, Philippines, and Rest of Asia-Pacific
China dominates in high-integrity pressure protection systems (HIPPS)market due to the rising government initiatives, safety programmes and regulations for workers has further increases the demand for safety instrument system in the manufacturing plant. This will in turn increase the demand for the HIPPS system.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Concern towards Minimizing Operational Cost of the Business
High-integrity pressure protection systems (HIPPS) market also provides you with detailed market analysis for every country growth in industry with high-integrity pressure protection systems (HIPPS) sales, services, impact of changes in regulatory scenarios with their support for the high-integrity pressure protection systems (HIPPS) market. The data is available for historic period 2010 to 2018.
Competitive Landscape and High-Integrity Pressure Protection Systems (HIPPS) Market Share Analysis
High-integrity pressure protection systems (HIPPS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to high-integrity pressure protection systems (HIPPS) market.
The major players covered in the report are Emerson Electric Co, Yokogawa Electric Corporation, Schneider Electric, Rockwell Automation, HIMA, ABB, Siemens, Schlumberger Limited, ATV Hipps, MOGAS Industries, Paladon Systems Ltd., LARSEN & TOUBRO LIMITED, IMI plc, Seametrics among other players in Asia-Pacific. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In November 2017, Siemens had launched new solution flexible safety instrumented system. This new solution is designed to ease the operation in the critical areas of process industry. This product launch will strengthened the product portfolio for the Siemens which further enhanced their customer base
Partnership, expansion and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for high-integrity pressure protection systems (HIPPS) that result in expanding their existing product portfolio.