Global High-Integrity Pressure Protection System (HIPPS) Market – Industry Trends and Forecast to 2030

Global High-Integrity Pressure Protection System (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) – Industry Trends and Forecast to 2030.

High-Integrity Pressure Protection System (HIPPS) Market Analysis and Size

High-integrity pressure protection system designed to protect the system from under-pressurization and over-pressurization. People are investing in technology that enables efficient, safer, and cost-effective operations. The demand for these systems is being boosted by the constant rise in production rates owing to emerging technologies such as robotics, automation, and artificial intelligence. Moreover, with the increase in Greenfield projects planned in countries such as China and India, the oil and gas industry will likely see a rise in demand for HIPPS.

Data Bridge Market Research analyses that the high-integrity pressure protection system (HIPPS) market was valued at USD 641.53 million in 2022 and is expected to reach the value of USD 1297.17 million by 2030, at a CAGR of 9.20% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

High-Integrity Pressure Protection System (HIPPS) Market Scope and Segmentation

Market Definition

High-integrity pressure protection systems (HIPPS) are a series of components, specially engineered to separate the source of risky high pressure instead of relieving the excess flow, in an overpressure event. HIPPS is a reliable Safety and independent Instrumented System that is designed with high integrity according to the established ANSI/ISA and IEC standards to exceed or equal the safety performance of conventional safety valves.

Global High-Integrity Pressure Protection System (HIPPS) Market Dynamics

Drivers

• Growing need for decreasing gas flaring and venting to protect the environment

Gas flaring is generally carried out during equipment repair, scheduled maintenance or shutdown events. It offers controlled pressure release from the processing systems and gas collection with minimal environmental impact. This is used to maintain pressure and ensure the plant's efficient and safe operation. According to process industry emissions regulations, this increases the costs which is associated with harmful gas emissions. When earthen material is used as part of gas venting procedure through MCD, no earthen material is rejected. This equipment is repurposed for a different type of treatment process. This creates a healthier environment for both environment and people. Oil and gas companies are decreasing their emissions by using FLNG vessels and increasing the way to compress natural gas.

Opportunities

• Investments in evolving economies 

There are increasing opportunities for companies in this market owing to the growing demand for the safety systems. There are also high growth potentials to the increasing demand for these systems across several industries. The industrial sector, including chemical industries and oil & gas, continues to grow constantly in both developed and emerging countries. Since petrochemicals is a major industries that rely on feed sources which increases the demand for feedstock. With the increase in demand, the quantity of feedstock required is also seen to rise. Several projects related to the transportation and production of oil and gas have been planned on a global level.

 Restraints

• High-cost installation associated with high-integrity pressure protection system

The HIPPS comprises several safety components, including field initiators, logic solvers, pressure transmitters and final components, such as actuators and valves. It is implemented as a precautionary step to protect machinery, personnel and production lines in the event of an emergency. The costs of HIPPS components, maintenance, installation and repair, on the other hand, place a major strain on companies' budgets. Although major companies can handle these costs, small and medium businesses may find it challenging.

This high-integrity pressure protection system (HIPPS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the high-integrity pressure protection system (HIPPS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global High-Integrity Pressure Protection System (HIPPS) Market Scope

The high-integrity pressure protection system (HIPPS) market is segmented based on the type, offering and industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Electronics HIPPS
• Hydraulic/Mechanical HIPPS
• Offering
• Component
• Field Initiators
• Logic Solver
• Solid State
• Others
• Final Element
• Actuators
• Valve
• Others
• Services
• Testing, Inspection and Certification
• Maintenance
• Training and Consolation

Industry

• Oil & Gas
• Power Generation
• Chemical
• Water and Wastewater
• Food and Beverages
• Pharmaceutical
• Metal & Mining
• Paper & Pulp
• Others

High-Integrity Pressure Protection System (HIPPS) Market Regional Analysis/Insights

The high-integrity pressure protection system (HIPPS) market is analyzed and market size insights and trends are provided by country, type, offering and industry as referenced above.

The countries covered in the high-integrity pressure protection system (HIPPS) market report are report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America

North America dominates the high-integrity pressure protection system (HIPPS) market in terms of revenue growth. The expansion of this sector is mainly due to the increasing government program for worker safety. In this region, the government enforced the manufacturing companies to adopt an electronic HIPPS system that increases operational efficiency for the worker and increases safety of the workers.

Asia-Pacific is projected to be the fastest developing region during the forecast period of 2023-2030. This is mainly owing to the stringent government rule towards cutting down carbon emission from the environment. In this region, the manufacturer are highly focused on replacing the traditional HIPPS system with electronic HIPPS system.

 The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and High-Integrity Pressure Protection System (HIPPS) Market Share Analysis

The high-integrity pressure protection system (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, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to high-integrity pressure protection system (HIPPS) market.

Some of the major players operating in the high-integrity pressure protection system (HIPPS) market are:

• Ems Security Group Ltd (U.K.)
• Electro Detectors Ltd (U.K.)
• Sterling Safety Systems (U.K.)
• Honeywell International, Inc. (U.S.)
• Siemens AG (Germany)
• Wagner Group Gmbh (Germany)
• Hochiki Corporation (Japan)
• Halma Plc. (U.K.)
• Apollo Fire Detectors Limited (U.K.)
• Robert Bosch Gmbh (Germany)
• EUROFYRE LTD. (U.K.)
• Detectomat Gmbh (Germany)
• Ceasefire Industries Pvt. Ltd (India)
• Johnson Controls (Ireland)
• Napco Security technologies, Inc. (U.S.)
• Zeta Alarm ltd (U.K.)
• Libelium Comunicaciones Distribuidas S.L (Spain)
• Attentis (Australia)
• Vigilys, Inc (U.S.)

 Research Methodology: Global High-Integrity Pressure Protection System (HIPPS) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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