Europe 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 (Russia, Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Turkey, Belgium and Rest of Europe), Market Trends and Forecast to 2027.
Market Analysis and Insights: Europe 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 8.5% in the forecast period of 2020 to 2027 and expected to reach USD 278.41 million by 2027 from USD 145.69 million in 2019. Rising government investments in the renewable sources have increased the extraction of oil and natural gas is one of the prominent factors 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 accident.
This High-Integrity Pressure Protection System (HIPPS) Market report provides details of market share, new developments, and product pipeline analysis, 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.
Europe 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 in to hydraulic/mechanical HIPPS and electronic HIPPS. Electronic HIPPS system accounted largest market share due to the rising industrial automation across the end-use industries. This resulted in replacement of traditional system with advanced safety instrument. This factor has increased the demand for the electronic HIPPS system.
- Based on offering, the market is segmented into component and services. Component accounted largest market share because of the growing demand of safety instrument system in the chemical industries has enforced the manufacturer to increase the manufacturing of the component for the HIPPS system, which inadvertently have increased the safety for the workers.
- 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 due to the growing expansion of oil and natural gas pipeline in the European countries has further increases the production plant of oil and gas. This factor has increased the demand for the safety instrument system in the plant which further propels the demand for the HIPPS system.
High-integrity Pressure Protection Systems (HIPPS) Market Country Level Analysis
Europe 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 Russia, Germany, U.K, France, Italy, Spain, Netherlands, Switzerland, Turkey, Belgium and Rest of Europe.
Russia dominates in the high-integrity pressure protection systems (HIPPS) market as the rising development of building construction in Russia has boost the demand for the household gasses. Moreover, growing development of power factories has also increased the demand for the natural gas. Thus, the growing demand for natural gas has increased the production plant which in turn increases 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
Europe 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, global 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, Schneider Electric, HIMA, ABB, Siemens, Schlumberger Limited, ATV Hipps, Paladon systems Ltd., Pietro Fiorentini S.p.a, LARSEN & TOUBRO LIMITED, IMI plc, Mokveld Valves BV, DAFRAM S.p.A, Frames, Petrovalves, BEL Valves Limited, ProControl, ValvTechnologies, Severn Glocon Group, ATV Hipps and Seametrics., among other players in Europe. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In October 2019, ATV Hipps, Company had acquired customer of the UAE country for providing their HIPPS system. This acquisition will help the ATV Hipps to strengthen their foothold in Middle East region.
- In August 2015, Schneider Electric formed union with Electro80 for the Asia-Pacific region. The company is known for providing Triconex SIS platform for the Asian customers. This platform offers several services and products such as machine safety, safety loop life cycle management, high-integrity pressure protection systems (HIPPS), turbomachinery control (TMC) and others. Thus, this union has result in increasing the customer base for Schneider electric.
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.
Customization Available : Europe High-integrity Pressure Protection Systems (HIPPS) Market
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