North America High-Integrity Pressure Protection System (HIPPS) Market, By Type (Electronics HIPPS, Hydraulic/Mechanical HIPPS, Others), Offerings (Services, Components,), Industry (Power Generation, Water and Wastewater, Food and Beverages, Pharmaceutical, Metal and Mining, Paper and Pulp, Others), End User (Upstream, Mid-Stream, Downstream, Oil and Gas, Chemicals) – Industry Trends and Forecast to 2030.
North America High-Integrity Pressure Protection System (HIPPS) Market Analysis and Size
The oil and gas and power generation industries are essential to high integrity pressure protection systems. It functions as a barrier separating a process plant's high- and low-pressure sides and as a source shutoff to prevent over-pressuring a plant by venting excess pressure outside. A high-integrity pressure protection system is a safety instrumented system created to guard pipeline systems, oil and gas production facilities, and refineries from being over-pressurized. HIPPS uses an oil and gas company's system integration and design know-how. Significant damage to the environment, production assets, and personnel working upstream can result from excessive wellhead pressure.
Data Bridge Market Research analyses that the high-integrity pressure protection system (HIPPS) market, valued at USD 225.06 million in 2022, will reach USD 458.41 million by 2030, growing at a CAGR of 9.3% during the forecast period of 2023 to 2030. 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.
North America High-Integrity Pressure Protection System (HIPPS) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Electronics HIPPS, Hydraulic/Mechanical HIPPS, Others), Offerings (Services, Components), Industry (Power Generation, Water and Wastewater, Food and Beverages, Pharmaceutical, Metal and Mining, Paper and Pulp, Others), End User (Upstream, Mid-Stream, Downstream, Oil and Gas, Chemicals)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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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 Systems 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), Emerson Electric Co. (U.S.), Yokogawa Electric Corporation (Japan), Rockwell Automation (U.S.), Schneider Electric (France), Baker Hughes Company (U.S.)
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Market Opportunities
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Market Definition
A safety instrumented system (SIS) is a high-intensity pressure protection system (HIPPS). The high-intensity pressure protection system is intended to stop any situation that could be dangerous and result from a pressure increase. For instance, the pressure brought on by a pipeline blockage. HIPPS is a functional loop of various parts, including an initiator that recognizes high pressure. The logic solver processes the initiator's input and sends the output to the final element. Solenoids operate the valve in the final element.
High-Integrity Pressure Protection System (HIPPS) Market Dynamics
Drivers
- Increasing need to reduce venting and flaring to protect the environment
Gas flaring typically occurs during scheduled maintenance, equipment repairs, or shutdown times at oil and gas production facilities. This technology enables controlled pressure releases in systems for collecting and processing gas. In industrial facilities, this is used to maintain pressures and ensure secure and effective operations. However, gas flaring has recently escalated into a significant issue for businesses that support pressurized systems and guarantee safe and efficient operations, fueling the expansion of the HIPPS market.
- Reduced transportation and storage costs facilitate growth
Using a high-integrity pressure protection system lowers the cost of transportation and storage because of the decrease in volume and weight. Additionally, there is no longer a requirement to install relief devices to prevent atmospheric gas emissions because HIPPS can handle transportation and storage costs by avoiding overpressure in vessels further down the line, high-integrity pressure protection systems are seeing an increase in demand.
Opportunities
- Expansion of refinery and petrochemical facilities creates lucrative growth
The industrial sector, including the oil, gas, and chemical industries, consistently grows in developing and developed countries. The petrochemical industry currently provides 12% of the world's feedstock needs, and it is anticipated that this percentage will rise with the increase in demand for fertilizers, plastics, and other products. In addition, many projects are slated for the transportation and production of oil and gas, increasing the demand for high-integrity pressure protection systems.
- Government regulations limit market growth
As a result of strict regional government regulations on emission levels across industries to enhance workstation safety, the demand for various HIPPS applications has increased. The end-user industry landscape has changed quickly as a result of the quick growth of emerging markets, sustainability regulations, the appearance of new technologies, and shifting consumer preferences. A rise in accidents at industrial facilities has led to the government enacting more regulations to ensure their safety and security.
Restraints/Challenges
- HIPPS's complex design has restricted market growth
It can be difficult for system designers to create safety systems that comply with functional safety requirements when numerous applications control a system. Recurring problems can impact the market negatively, so engineers must design systems that stop hardware and software failure so that it can be easy for users and can positively act in the market.
- HIPPS's high price prevents the market from growing
The expense of HIPPS components, upkeep, installation, and repair places a heavy financial burden on businesses. While large corporations can manage these costs, it might be challenging for small and medium-sized businesses. The high-integrity pressure protection system (HIPPS), which assembles safety items, has four final components: logic solvers, field initiators, pressure transmitters, and valves and actuators. Businesses' budgets are heavily burdened by HIPPS components, building, maintenance, and repair costs, which restricts market expansion.
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.
Recent Developments
- In 2021, the first complete valve assemblies meeting safety level (SIL) 3 AS PER HE IEC 61508 standard of the international electrotechnical commission were introduced by Emerson.
- In 2021, A SOLUTION TO IDENTIFY WHETHER ACTUAL OPERTAING PERFORMANCE MEETS SAFETY DESIGN TARGETS, Yokogawa introduced its new Electric Exauquantum safety function monitoring (SFM) SOFTWARE. The updated software complies with IEC 61511 standards. It adds several new features to assist SFM users in identifying potential safety issues, optimizing maintenance tasks, and enhancing overall safety solution design.
- In 2020, MOGAS Industries Inc. purchased Watson Valve, a service valves manufacturer headquartered in the United States, to offer coating and pressure control-related repairs and services. More than 3,400 valves are installed by Watson Valve every year in the mining, chemical, and oil and gas industries worldwide.
- In 2020, ASCO 158 Gas Valve Series and 159 Motorized Actuator were introduced by Emerson. New valves were created by ASCO specifically for burner applications in boilers. A new combustion safety shutdown valve option that enhances flow and control while boosting safety and dependability is now available to end users and distributors.
North America High-Integrity Pressure Protection System (HIPPS) Market Scope
The high-integrity pressure protection system (HIPPS) market is segmented on the basis of type, offerings, industry and end user. The growth amongst these segments will help you analyze 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
- Others
Offerings
- Services
- Testing, Inspection and Certification
- Maintenance
- Training and Consolation
- Components
- Field Initiators
- Logic Solver
- Solid State
- Others
- Final Element
- Actuators
- Valve
Industry
- Power Generation
- Water and Wastewater
- Food and Beverages
- Pharmaceutical
- Metal and Mining
- Paper and Pulp
- Others
End User
- Upstream
- Downstream
- Mid-Stream
- Oil and Gas
- Chemicals
High-Integrity Pressure Protection System (HIPPS) Market Regional Analysis/Insights
The high-integrity pressure protection system (HIPPS) market is analysed and market size insights and trends are provided by country, type, offerings, industry and end user as referenced above.
The countries covered in the high-integrity pressure protection system (HIPPS) market report are U.S., Canada and Mexico in North America
U.S. dominates the market and will continue to flourish its trend of dominance during the forecast period in North America. The major factors attributable to the region’s dominance are rising demand for the safety instrument system is a result of the expansion of oil and gas facilities. In addition, the growing government program for worker safety is largely to blame for the sector's expansion. The government in this area forced manufacturing firms to implement an electronic HIPPS system, which improves worker safety and operational effectiveness.
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 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 market.
Some of the major players operating in the high-integrity pressure protection system market (HIPPS) are:
- 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 Systems 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)
- Emerson Electric Co. (U.S.)
- Yokogawa Electric Corporation (Japan)
- HIMA (Germany)
- Rockwell Automation (U.S.)
- Schneider Electric (France)
- Baker Hughes Company (U.S.)
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