North 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 (U.S, Canada and Mexico), Market Trends and Forecast to 2027.
Market Analysis and Insights: North America 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 8.8% in the forecast period of 2020 to 2027 and expected to reach USD 337.82 million by 2027 from USD 172.36 million in 2019. Rising government regulation has increased the drilling of oil and natural gas that has resulted in the increasing production plant in the U.S. is the major 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.
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.
North America 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 as these system detect faster over pressurization of a plant as compared to the hydraulic HIPPS. In addition to it, electronic HIPPS has the ability to handle the over pressurization of plant from the longer distance as well.
- Based on offering, the market is segmented into component and services. Component accounted largest market share as most of the component manufacturer has strong presence in the U.S.
- 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 growing adoption of technological innovation in drilling and production has raised the production of oil and gas in the U.S. This resulted in increasing the demand for HIPPS system in the U.S.
High-integrity Pressure Protection Systems (HIPPS) Market Country Level Analysis
North America High-integrity pressure protection systems (HIPPS) market is analysed and market size information is provided by country, type, offering, and industry referenced above.
The U.S dominates in high pressure integrity pressure protection systems (HIPPS) market due to the rising expansion of oil and gas plant in the U.S has resulted in increasing demand for the safety instrument system. In addition to it, stringent government regulation regarding worker safety has further increased the demand for 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.
Stringent Regulation of Government Regarding Safety and Security
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, North America 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, Rockwell Automation, Schlumberger Limited, MOGAS Industries, Paladon System (HIPPS) Ltd., Pietro Fiorentini S.p.a, Petrovalves, Severn Glocon Group, ATV Hipps and Seametrics among others. DBMR analysts understand competitive strengths and to provide competitive analysis for each competitor separately.
- In March 2019, ABB has upgraded the ABB Ability System 800xA. This new system consists of new Ethernet I/O solutions, High-integrity controllers and engineering tools which improves the project performance. This product enhancement will help the company to increase its revenue generation.
- In September 2017, Emerson Electric Co. has introduced new safety solutions named as DeltaV SIS. This new solution is also supportive for the fire and gas detection, burner management, high-integrity pressure protection systems (HIPPS) and other applications. Through this, the company will be strengthening its product portfolio for the Emerson which has 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.
Customization Available: North America High-integrity Pressure Protection Systems (HIPPS) Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), product under development data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.