Global High-Integrity Pressure Protection System (HIPPS) Market - 2022-2029
Market Overview
The global high-integrity pressure protection system (HIPPS) market has reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.
A high-integrity pressure protection system (HIPPS) is a safety instrumented system (SIS) designed to avoid over-pressurization of pipes or vessels in a plant per IEC 61508. The system is a specific application of an SIS that has been designed. Its purpose and function are to isolate and safeguard downstream vessels and pipeline equipment from overpressure by closing at the source.
The system detects growing pressure in a flowline and promptly closes one or more isolation block valves before the pressure rises too far. Further, the system is mostly utilized in oil and gas operations. A safety system is used in process industries to prevent loss of containment when a vessel or pipeline ruptures due to overpressure.
Market Dynamics
An increasing need to reduce gas flaring and venting, particularly in the oil and gas sector, to protect the environment is expected to drive the global high-integrity pressure protection system (HIPPS) market. However, the high installation cost is likely to restrain the market.
An increasing need to reduce gas flaring and venting, particularly in the oil and gas sector, to protect the environment
Typically, gas flaring occurs at producing sites, particularly in oil and gas plants, during maintenance, equipment repair or shutdown activities. Gas flaring provides the controlled pressure release from the gas collection and processing systems. As a result, it is employed in industrial plants to maintain pressures and assure safe and effective operations.
However, conventional gas flaring systems have drawbacks, such as releasing flammable and hazardous process fluids or their combustion gases into the environment. Recently, gas flaring has become one of the most serious issues in the process industry because it wastes important natural resources and emits a considerable amount of sulfur dioxide, carbon dioxide and nitrous oxide gases, all of which are harmful to the environment. Similarly, gas venting is performed to ensure safety at various phases of the treatment process. The technique emits unburned gases into the environment, endangering human health.
Therefore, oil and gas companies are adopting floating liquefied natural gas (FLNG) vessels for zero hydrocarbon gas flaring under normal operating conditions to address the challenges associated with gas flaring and venting. In addition, the high-integrity pressure protection system (HIPPS) is installed at the FLNG gas input to shut down the gas flow during over-pressurization occurrences, decreasing the need for flaring.
The high installation cost is likely to restrain the market
The high-integrity pressure protection system (HIPPS) collects safety items that include logic solvers, field initiators, pressure transmitters and valves and actuators as final elements. The expenses of HIPPS components, building, upkeep and repair place a significant strain on companies' finances. Although large organizations can manage these costs, medium- and small-sized businesses may struggle.
In addition, a high-integrity pressure protection system (HIPPS) must adhere to regulatory standards that are routinely revised in response to technological improvements and new mandates, necessitating the need for enterprises to modernize their safety systems. As a result, this necessitates increased expenditure in deploying safety components and systems.
COVID-19 Impact Analysis
COVID-19 pandemic brought havoc for the oil and gas industry. As a result of lockdowns, oil consumption plunged by 10% and 30% in March and April, respectively, with the Global Energy Agency (IEA) forecasting a 6 to 10% drop in demand in 2020, accounting for 9.3 million barrels per day drop. While COVID-19 created record drops in demand, a pricing war between Russia and Saudi Arabia caused crude oil prices to plummet.
As a result of lower demand and increasing OPEC output, crude oil prices fell from $64 to $18.47 between January and April. Therefore, the adoption of various government limitations globally generated a significant disparity between supply and demand. As a result, the industry's slowing growth had a knock-on effect on the high-integrity pressure protection system (HIPPS).
Segment Analysis
The global high-integrity pressure protection system (HIPPS) market is segmented into oil and gas, chemicals, metal and mining, power, and others based on end-user.
A high-integrity pressure protection system (HIPPS) is a safety-instrumented system that protects oil and gas pipeline systems, production and refinery from over-pressurization. A high-integrity pressure protection system (HIPPS) uses an oil and gas firm's system design and integration capabilities. Companies are working on producing unique products and solutions that will help the HIPPS market thrive over the forecast period.
For instance, ATV HIPPS, a subsidiary of ATV Group and ATV SpA, recently delivered HIPPS to a significant customer in the United Arab Emirates. Further, the company acquired Hydropneumatic, specializing in wellhead equipment and controls. The acquisition may allow the company to take advantage of its expanded technical offering of HIPPS solutions.
In addition, high-integrity pressure protection system (HIPPS) demand is also influenced by sustainable development policies, which may differ from the industrial application requirement even further. In the sustainable development scenario, decisive policy actions may peak global oil demand within the next few years.
Geographical Analysis
Based on geography, the global high-integrity pressure protection system (HIPPS) market is segmented into North America, Europe, South America, Asia-Pacific and Middle East & Africa.
Asia-Pacific is projected to grow significantly due to the region's focus on building oil and gas refining capacity and considerable expansion in the chemicals industry, with China, India and Japan being some of the key countries in the region. According to the IEA, Asia-Pacific would account for 70% of global LNG imports in 2020. Further, the region is expected to lead gas demand, accounting for about 60% of total consumption increase by 2025.
Moreover, the rising demand for petrochemicals in nations such as China and India increases the production of oil, gas and chemicals. For example, according to statistics provided by India's Ministry of Chemicals and Fertilizers, yearly output growth in 2018-2019 was 4.70% over the previous year, with a CAGR of 3.02% over eight years for main chemicals.
Therefore, Asia-Pacific has enormous potential for high-integrity pressure protection system (HIPPS) deployment in the oil and gas, chemicals and power generating industries.
Competitive Landscape
The global high-integrity pressure protection system (HIPPS) market is competitive and moderately consolidated with multinational businesses. Major players in the market include Schlumberger Limited, MOGAS Industries, Inc., Yokogawa Electric Corp., Emerson Electric Co., HIMA, Schneider Electric, Rockwell Automation Inc., Honeywell Global, ABB and Baker Hughes, among others. The major players in the market are known to incorporate numerous market strategies to achieve growth in the global high-integrity pressure protection system (HIPPS) market; these include mergers, acquisitions, product launches, contributions and collaborations.
Schlumberger Limited
Overview: Schlumberger Limited is an oilfield services firm based in Texas, United States. Schlumberger personnel come from over 140 nations and work in over 120 countries. Furthermore, the corporation has four main executive offices: Paris, Houston, London and The Hague.
Product Portfolio: Schlumberger Limited offers a high-integrity pressure protection system (HIPPS) under its Cameron brand. The system includes our tried-and-true FLS extreme service API 6A slab-style gate valves and MH series hydraulic actuators, as well as controls. It is appropriate for offshore and onshore installations that require high-integrity pressure protection of downstream systems.
Key Development:
In April 2016, Schlumberger Limited completed its merger with Cameron Global Corporation. The merger resulted in technology-driven growth by combining Cameron wellhead and surface equipment, flow control and processing technologies with Schlumberger reservoir and well technology.
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Excel data sheet with numerous data points of high-integrity pressure protection system (HIPPS) market-level with four segments.
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The global high-integrity pressure protection system (HIPPS) market report would provide approximately 69 tables, 64 figures and almost 183 pages.
Target Audience 2022
Service Providers/ Buyers
Industry Investors/Investment Bankers
Manufacturers Companies
Oil and Gas Companies
Chemical Business
Research Professionals
- 1. Global High-Integrity Pressure Protection System (HIPPS) Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Global High-Integrity Pressure Protection System (HIPPS) Market – Market Definition and Overview
- 3. Global High-Integrity Pressure Protection System (HIPPS) Market – Executive Summary
- 3.1. Market Snippet by Type
- 3.2. Market Snippet by Component
- 3.3. Market Snippet by Service
- 3.4. Market Snippet by End-User
- 3.5. Market Snippet by Region
- 4. Global High-Integrity Pressure Protection System (HIPPS) Market-Market Dynamics
- 4.1. Market Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. An increasing need to reduce gas flaring and venting, particularly in the oil and gas sector, to protect the environment
- 4.1.1.2. XX
- 4.1.2. Restraints
- 4.1.2.1. The high installation cost
- 4.1.3. Opportunity
- 4.1.3.1. XX
- 4.1.4. Impact Analysis
- 5. Global High-Integrity Pressure Protection System (HIPPS) Market – Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. Global High-Integrity Pressure Protection System (HIPPS) Market – COVID-19 Analysis
- 6.1. Analysis of COVID-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. Global High-Integrity Pressure Protection System (HIPPS) Market – By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Electronic HIPPS*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Mechanical HIPPS
- 8. Global High-Integrity Pressure Protection System (HIPPS) Market – By Component
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 8.1.2. Market Attractiveness Index, By Component
- 8.2. Field Initiators*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Logic Solver
- 8.3.1. Solid State
- 8.3.2. Others
- 8.4. Final Element
- 8.4.1. Actuators
- 8.4.2. Valve
- 8.5. Others
- 9. Global High-Integrity Pressure Protection System (HIPPS) Market – By Service
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Service
- 9.1.2. Market Attractiveness Index, By Service
- 9.2. Testing, Inspection and Certification*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Maintenance
- 9.4. Training and Consultation
- 10. Global High-Integrity Pressure Protection System (HIPPS) Market – By End-User
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.1.2. Market Attractiveness Index, By End-User
- 10.2. Oil and Gas*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Chemicals
- 10.4. Power
- 10.5. Metal and Mining
- 10.6. Others
- 11. Global High-Integrity Pressure Protection System (HIPPS) Market – By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Service
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.2.7.1. U.S.
- 11.2.7.2. Canada
- 11.2.7.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Service
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.3.7.1. Germany
- 11.3.7.2. UK
- 11.3.7.3. France
- 11.3.7.4. Italy
- 11.3.7.5. Russia
- 11.3.7.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Service
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. Brazil
- 11.4.7.2. Argentina
- 11.4.7.3. Rest of South America
- 11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Service
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. China
- 11.5.7.2. India
- 11.5.7.3. Japan
- 11.5.7.4. Australia
- 11.5.7.5. Rest of Asia-Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Service
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12. Global High-Integrity Pressure Protection System (HIPPS) Market – Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Market Positioning/Share Analysis
- 12.3. Mergers and Acquisitions Analysis
- 13. Global High-Integrity Pressure Protection System (HIPPS) Market- Company Profiles
- 13.1. Schlumberger Limited*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Key Highlights
- 13.1.4. Financial Overview
- 13.2. MOGAS Industries, Inc.
- 13.3. Yokogawa Electric Corp.
- 13.4. Emerson Electric Co.
- 13.5. HIMA
- 13.6. Schneider Electric
- 13.7. Rockwell Automation Inc.
- 13.8. Honeywell Global
- 13.9. ABB
- 13.10. Baker Hughes
- LIST NOT EXHAUSTIVE
- 14. Global High-Integrity Pressure Protection System (HIPPS) Market – Premium Insights
- 15. Global High-Integrity Pressure Protection System (HIPPS) Market – DataM
- 15.1. Appendix
- 15.2. About Us and Services
- 15.3. Contact Us
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