HOME Top Market Reports High-Integrity Pressure Protection System Market by Components (Field Initiators, Logic Solvers, Valves, Actuators), Service (Maintenance and Training & Certification), Vertical (Oil & Gas, Power Generation, Chemical) - Global Forecast to 2022

High-Integrity Pressure Protection System Market by Components (Field Initiators, Logic Solvers, Valves, Actuators), Service (Maintenance and Training & Certification), Vertical (Oil & Gas, Power Generation, Chemical) - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: October 2016
Report Code: SE 4646

 

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The High-Integrity Pressure Protection System (HIPPS) market was valued at USD 292.7 Million in 2015 and is expected to at a CAGR of 8.7% between 2016 and 2022. The increasing of reliable safety systems for personnel & asset protection, and the need for safety systems in the oil & gas industry are key influencing factors of the HIPPS market. The base year considered for study is 2015 and the forecast period is between 2016 and 2022. The objective of the report is to provide a detailed analysis of the HIPPS market based on component, service, vertical, and geography. The report provides detailed information regarding the major factors influencing the growth of this market. The report also gives a detailed overview of the value chain in the HIPPS market and analyzes the market trends with Porter's five forces analysis.

The research methodology used to estimate and forecast this market begins with capturing data on key vendor revenue through the secondary research such as IEEE journals, automation world magazine, manufacturing automation magazine, and leading players’ newsletters. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global HIPPS market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments which have been verified through the primary research by conducting extensive interviews of people holding key positions such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries is depicted in the below figure:

High-Integrity Pressure Protection System Market

To know about the assumptions considered for the study, download the pdf brochure

The HIPPS ecosystem comprises component providers, OEMs, system integrators, software providers, and distributors. The players involved in the development of HIPPS include Rockwell Automation (U.S.), Schneider Electric SE (France), Emerson Electric Company (U.S.), Yokogawa Electric Corporation (Japan), and Schlumberger Limited (U.S.).  among others as well as associations such as Institute of Electrical and Electronics Engineers (IEEE) and International Society of Automation (ISA).

Target Audience of the report:

  • Associations, organizations, forums, and alliances
  • Component manufacturers of HIPPS
  • Distributors and traders of safety instrumented systems (SIS)
  • Original equipment manufacturers of HIPPS
  • Process industries such as oil & gas, power, chemical, and pharmaceutical among others
  • Research organizations and consulting companies
  • Semiconductor product designers and fabricators
  • Software and service providers of HIPPS
  • System integrators
  • Technology investors

“This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments

Scope of the Report:

This research report categorizes the global HIPPS market on the basis of component, service, vertical, and geography.

HIPPS Market, by Component:

  • Logic Solvers
  • Valves
  • Actuators
  • Field Initiators

HIPPS Market, by Service:

  • Maintenance
  • Training & Certification

HIPPS Market, by Vertical:

  • Power Generation
  • Oil &  Gas
  • Chemicals
  • Food & Beverages 
  • Metals & Mining
  • Pulp & Paper
  • Pharmaceutical

HIPPS Market, by Geography:

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Rest of the World (RoW)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the companies’ specific needs. The following customization options are available for the report:

Company Information:

Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Introduction
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data Points From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 32)
    4.1 Lucrative Opportunities in the HIPPS Market
    4.2 HIPPS Market, By Component
    4.3 Market Share of Major Countries, 2015
    4.4 High-Integrity Pressure Protection System Market
    4.5 HIPPS Market, By Service
    4.6 HIPPS Market, By Vertical
    4.7 HIPPS Market, By Region

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 HIPPS Market, By Component
           5.2.2 HIPPS Market, By Service
           5.2.3 HIPPS Market, By Vertical
           5.2.4 HIPPS Market, By Geography
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Rising Need of Reliable Safety Systems for Personnel & Asset Protection
                    5.3.1.2 Growing Demand for Safety Systems in Downstream Oil & Gas Industry
           5.3.2 Restraints
                    5.3.2.1 Lack of Awareness and Complexity of Standards
                    5.3.2.2 High Acquisition Cost of High-Integrity Pressure Protection System
           5.3.3 Opportunities
                    5.3.3.1 Mechanical HIPPS Provides Cost-Effective and Reliable Pressure Protection in Subsea
           5.3.4 Challenges
                    5.3.4.1 Increasing Complexity of Safety Applications

6 Industry Trends (Page No. - 42)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry

7 HIPPS Safety Standards (Page No. - 49)
    7.1 Introduction
    7.2 Safety Integrity Level (Sil)
    7.3 IEC 61508 and IEC 61511 Standards
           7.3.1 IEC 61508
           7.3.2 IEC 61511

8 HIPPS Market, By Service (Page No. - 51)
    8.1 Introduction
    8.2 Maintenance
    8.3 Training & Certification

9 HIPPS Market, By Component (Page No. - 55)
    9.1 Introduction
    9.2 Logic Solvers
    9.3 Valves
    9.4 Actuators
    9.5 Field Initiators
    9.6 Others

10 HIPPS Market, By Application (Page No. - 78)
     10.1 Introduction
     10.2 Power Generation
             10.2.1 Fossil Fuel
             10.2.2 Nuclear
             10.2.3 Renewable
     10.3 Oil & Gas
             10.3.1 Upstream
             10.3.2 Midstream
             10.3.3 Downstream
     10.4 Chemical
     10.5 Metal & Mining
     10.6 Paper & Pulp
     10.7 Pharmaceutical
     10.8 Food & Beverage
     10.9 Others

11 HIPPS Market, By Geography (Page No. - 93)
     11.1 Introduction
     11.2 North America
             11.2.1 U.S.
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 Germany
             11.3.2 U.K.
             11.3.3 France
             11.3.4 Italy
             11.3.5 RoE
     11.4 Asia-Pacific
             11.4.1 China
             11.4.2 Japan
             11.4.3 South Korea
             11.4.4 India
             11.4.5 Roapac
     11.5 Rest of the World
             11.5.1 Middle East
             11.5.2 South America
             11.5.3 Africa

12 Competitive Landscape (Page No. - 111)
     12.1 Overview
     12.2 Market Ranking Analysis: HIPPS Market
     12.3 Competitive Situations and Trends for HIPPS Market
             12.3.1 New Product Launches
             12.3.2 Contracts, Partnerships, and Agreements
             12.3.3 Mergers & Acquisitions

13 Company Profiles (Page No. - 116)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     13.1 Introduction
     13.2 Emerson Electric Co.
     13.3 Rockwell Automation, Inc.
     13.4 Schneider Electric SE
     13.5 Schlumberger Limited
     13.6 Yokogawa Electric Corporation
     13.7 ABB Ltd.
     13.8 General Electric Company
     13.9 Siemens AG
     13.10 BEL Valves Ltd.
     13.11 HIMA Paul Hildebrandt GmbH
     13.12 Mogas Industries, Inc.
     13.13 Velan ABV S.P.A.
     13.14 Paladon Systems Ltd.

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 145)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports


List of Tables (70 Tables)

Table 1 High-Integrity Pressure Protection System Market Size, 2013–2022 (USD Million)
Table 2 Sil and Related Measures
Table 3 Difference Between IEC 61508 and IEC 61511
Table 4 High-Integrity Pressure Protection System Market Size, By Service, 2013–2022 (USD Million)
Table 5 High-Integrity Pressure Protection System Market Size, By Component, 2013–2022 (USD Million)
Table 6 High-Integrity Pressure Protection System Market Size, By Component, 2013–2022 (Thousand Units)
Table 7 Logic Solver Market for Power Generation, By Region, 2013–2022 (USD Million)
Table 8 Logic Solver Market for Oil & Gas, By Region, 2013–2022 (USD Million)
Table 9 Logic Solver Market for Chemical, By Region, 2013–2022 (USD Million)
Table 10 Logic Solver Market for Metal & Mining, By Region, 2013–2022 (USD Million)
Table 11 Logic Solver Market for Paper & Pulp, By Region, 2013–2022 (USD Million)
Table 12 Logic Solver Market for Pharmaceutical, By Region, 2013–2022 (USD Million)
Table 13 Logic Solver Market for Food & Beverage, By Region, 2013–2022 (USD Million)
Table 14 Logic Solver Market for Others, By Region, 2013–2022 (USD Million)
Table 15 Valves Market for Power Generation, By Region, 2013–2022 (USD Million)
Table 16 Valves Market for Oil & Gas, By Region, 2013–2022 (USD Million)
Table 17 Valves Market for Chemical, By Region, 2013–2022 (USD Million)
Table 18 Valves Market for Metal & Mining, By Region, 2013–2022 (USD Million)
Table 19 Valves Market for Paper & Pulp, By Region, 2013–2022 (USD Million)
Table 20 Valves Market for Pharmaceutical, By Region, 2013–2022 (USD Million)
Table 21 Valves Market for Food & Beverage, By Region, 2013–2022 (USD Million)
Table 22 Valves Market for Others, By Region, 2013–2022 (USD Million)
Table 23 Actuators Market for Power Generation, By Region, 2013–2022 (USD Million)
Table 24 Actuators Market for Oil & Gas, By Region, 2013–2022 (USD Million)
Table 25 Actuators Market for Chemical, By Region, 2013–2022 (USD Million)
Table 26 Actuators Market for Metal & Mining, By Region, 2013–2022 (USD Million)
Table 27 Actuators Market for Paper & Pulp, By Region, 2013–2022 (USD Million)
Table 28 Actuators Market for Pharmaceutical, By Region, 2013–2022 (USD Million)
Table 29 Actuators Market for Food & Beverage Manufacturing, By Region, 2013–2022 (USD Million)
Table 30 Actuators Market for Others, By Region, 2013–2022 (USD Million)
Table 31 Field Initiators Market for Power Generation, By Region, 2013–2022 (USD Million)
Table 32 Field Initiators Market for Oil & Gas, By Region, 2013–2022 (USD Million)
Table 33 Field Initiators Market for Chemical, By Region, 2013–2022 (USD Million)
Table 34 Field Initiators Market for Metal & Mining, By Region, 2013–2022 (USD Million)
Table 35 Field Initiators Market for Paper & Pulp, By Region, 2013–2022 (USD Million)
Table 36 Field Initiators Market for Pharmaceutical, By Region, 2013–2022 (USD Million)
Table 37 Field Initiators Market for Food & Beverage Manufacturing, By Region, 2013–2022 (USD Million)
Table 38 Field Initiators Market for Others, By Region, 2013–2022 (USD Million)
Table 39 Others Market for Power Generation, By Region, 2013–2022 (USD Million)
Table 40 Others Market for Oil & Gas, By Region, 2013–2022 (USD Million)
Table 41 Others Market for Chemical, By Region, 2013–2022 (USD Million)
Table 42 Others Market for Metal & Mining, By Region, 2013–2022 (USD Million)
Table 43 Others Market for Paper & Pulp, By Region, 2013–2022 (USD Million)
Table 44 Others Market for Pharmaceutical, By Region, 2013–2022 (USD Million)
Table 45 Others Market for Food & Beverage, By Region, 2013–2022 (USD Million)
Table 46 Other Components Market for Other Verticals, By Region, 2013–2022 (USD Million)
Table 47 High-Integrity Pressure Protection System Market Size, By Vertical, 2013–2022 (USD Million)
Table 48 HIPPS Market Size for Power Generation,, By Component, 2013–2022 (USD Million)
Table 49 High-Integrity Pressure Protection System Market Size, By Power Generation Type, 2013–2022 (USD Million)
Table 50 HIPPS Market Size for Oil & Gas, By Component, 2013–2022 (USD Million)
Table 51 High-Integrity Pressure Protection System Market Size, By Oil & Gas Type, 2013–2022 (USD Million)
Table 52 HIPPS Market Size for Chemical By Component, 2013–2022 (USD Million)
Table 53 HIPPS Market Size for Metal & Mining, By Component, 2013–2022 (USD Million)
Table 54 HIPPS Market Size for Paper & Pulp, By Component, 2013–2022 (USD Million)
Table 55 HIPPS Market Size for Pharmaceutical, By Component, 2013–2022 (USD Million)
Table 56 HIPPS Market Size for Food & Beverage, By Component, 2013–2022 (USD Million)
Table 57 HIPPS Market Size for Others, By Component, 2013–2022 (USD Million)
Table 58 High-Integrity Pressure Protection System Market Size, By Region, 2013–2022 (USD Million)
Table 59 North America HIPPS Market, By Country, 2013–2022 (USD Million)
Table 60 North America HIPPS Market, By Vertical, 2013–2022 (USD Million)
Table 61 Europe HIPPS Market, By Country, 2013–2022 (USD Million)
Table 62 Europe HIPPS Market, By Vertical, 2013–2022 (USD Million)
Table 63 APAC HIPPS Market, By Country, 2013–2022 (USD Million)
Table 64 APAC HIPPS Market, By Vertical, 2013–2022 (USD Million)
Table 65 RoW HIPPS Market, By Region, 2013–2022 (USD Million)
Table 66 RoW HIPPS Market, By Vertical, 2013–2022 (USD Million)
Table 67 Ranking of the Top 5 Players in the HIPPS Market, 2015
Table 68 New Product Launches, 2014–2016
Table 69 Contracts, Partnerships, and Agreements, 2014–2016
Table 70 Mergers & Acquisitions, 2013–2016


List of Figures (63 Figures)

Figure 1 High Integrity Pressure Protection System Market Segmentation
Figure 2 Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 HIPPS Market Size, 2013–2022 (USD Million)
Figure 7 Valves Component of HIPPS Expected to Dominate the Market During the Forecast Period
Figure 8 HIPPS Market Snapshot, By Service (2016 vs 2022)
Figure 9 Power Generation Vertical to Exhibit High Growth Between 2016 and 2022
Figure 10 North America Expected to Hold the Major Share of the HIPPS Market During the Forecast Period
Figure 11 Power Generation Sector to Drive the HIPPS Market Between 2016 and 2022
Figure 12 Valves to Hold the Largest Market Size During the Forecast Period
Figure 13 The U.S. Held the Largest Share of the HIPPS Market in 2015
Figure 14 North America Dominated the HIPPS Market in 2015
Figure 15 Maintenance Service Segment Held A Larger Share Than Training & Certification Service of the HIPPS Market in 2015
Figure 16 Power Generation Vertical Expected to Grow at the Highest CAGR in HIPPS Market During the Forecast Period
Figure 17 APAC HIPPS Market Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 Market, By Geography
Figure 19 HIPPS Market Dynamics
Figure 20 Value Chain Analysis: Major Value is Added During the Design of HIPPS and Its Validation Phase
Figure 21 Porter’s Five Forces Analysis: HIPPS Market, 2015
Figure 22 Threat of New Entrants has Medium Impact Due to the Requirement of Huge Investment
Figure 23 Threat of Substitutes has A Low Impact and Would Remain Low in the Future
Figure 24 Bargaining Power of Suppliers is High as Stringent Safety Standards are Required to Be Followed for Designing HIPPS
Figure 25 Bargaining Power of Buyers in the HIPPS Market is Medium
Figure 26 Intensity of Competitive Rivalry Had A High Impact on the HIPPS Market in 2015
Figure 27 HIPPS Market, By Service
Figure 28 Training & Certification Service Segment Expected to Grow at A Higher Rate in HIPPS Service Market Between 2016 and 2022
Figure 29 Failure Data Validation for HIPPS
Figure 30 Components of HIPPS
Figure 31 Valves Segment Expected to Dominate the HIPPS Component Market During the Forecast Period
Figure 32 Logic Solver Market for Power Generation Vertical in APAC Expected to Grow at the Highest Rate During the Forecast Period
Figure 33 North America Dominated the Valves Market for Oil & Gas Vertical in 2015
Figure 34 HIPPS Market, By Vertical
Figure 35 HIPPS Market for Power Generation Vertical Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 36 Valves Segment Expected to Lead the HIPPS Market for the Power Generation Application By 2022
Figure 37 Valves Segment Expected to Hold the Largest Market Size in HIPPS Market for Oil & Gas Vertical By 2022
Figure 38 Valves Segment Expected to Grow at the Highest Rate in HIPPS Market for Pharmaceutical Vertical During the Forecast Period
Figure 39 Valves Segment Accounted for the Largest Share of HIPPS Market for Food & Beverage Vertical in 2015
Figure 40 HIPPS Market in India Expected to Grow at the Fastest Rate During the Forecast Period
Figure 41 North America HIPPS Market Overview
Figure 42 Power Generation Vertical Expected to Grow at the Highest Rate During the Forecast Period
Figure 43 Europe HIPPS Market Overview, 2015
Figure 44 Germany Expected to Dominate the Europe HIPPS Market Till 2022
Figure 45 HIPPS Market Overview in APAC
Figure 46 Oil & Gas Vertical Expected to Dominate the HIPPS Market in APAC During the Forcast Period
Figure 47 RoW: Market Snapshot, 2015
Figure 48 Companies Adopted New Product Developments as the Key Growth Strategy Between 2014 and 2016
Figure 49 Battle for Market Share: Contracts/Agreements/Partnerships: the Key Strategies Adopted By the Players Between 2014 and 2016
Figure 50 Geographic Revenue Mix of the Top 5 Players (2015)
Figure 51 Emerson Electric Co.: Company Snapshot
Figure 52 Emerson Electric Co.: SWOT Analysis
Figure 53 Rockwell Automation, Inc.: Company Snapshot
Figure 54 Rockwell Automation, Inc.: SWOT Analysis
Figure 55 Schneider Electric SE: Company Snapshot
Figure 56 Schneider Electric SE: SWOT Analysis
Figure 57 Schlumberger Limited: Company Snapshot
Figure 58 Schlumberger Limited: SWOT Analysis
Figure 59 Yokogawa Electric Corporation: Company Snapshot
Figure 60 Yokogawa Electric Corporation: SWOT Analysis
Figure 61 ABB Ltd.: Company Snapshot
Figure 62 General Electric Company: Company Snapshot
Figure 63 Siemens AG: Company Snapshot

The High-Integrity Pressure Protection System (HIPPS) market is expected to reach USD 526.2 Million by 2022, at a CAGR of 8.7% between 2016 and 2022. The growth of this market is propelled by growing demand for safety systems in the oil & gas industry and need of reliable safety systems for personnel and asset protection.

The valves segment is expected to hold a large share of the overall HIPPS market in 2016. Valves are used as final safety devices which control the pressure and discharge a certain amount of fluid by themselves without any electric power support. Valves actuate or stop the flow of hazardous fluids or external hydrocarbons (gases) on detection of a hazardous event. Extensive application of valves in the oil & gas and chemical industries is supporting the growth of this market. In mechanical HIPPS, the valves are cost-effective, and designed for in-line maintenance.

The market for the maintenance service segment accounted for the largest share of the HIPPS market in 2015. This system consists of isolation valves that can be maintained in-line, avoiding the cost and disruption of removing the valve during maintenance. Moreover, regular maintenance of HIPPS reduces lack of containment and subsequent loss of production. The market for training & certification services is expected to grow at the highest CAGR between 2016 and 2022. The HIPPS training & certification services segment is expected to grow as the SIS market has few trained and skilled technicians who could inspect and maintain the systems.

The oil & gas vertical dominated this market in 2016. The lack of proper safety systems in the oil & gas industry may lead to production loss, stress on affected components and systems, and hazards during system restoration.

The market for the power generation vertical is expected to grow at the highest CAGR between 2016 and 2022.

Power sources include steam from nuclear reactors; conventional hydroelectric conversion; and renewable sources such as solar, wind, and geothermal. All these power generation sources require safety instrumented systems (SIS) such as HIPPS for protection from over pressurization; thus market for the power generation vertical is expected to grow rapidly during the forecast period.

High-Integrity Pressure Protection System Market

North America accounted for the largest share of this market during forecast period. The HIPPS market in North America is expected to be driven by the robust oil & gas and power generation industries in the region. The increase in shale energy exploration in this region has fostered the growth of the oil & gas industry in the North America. APAC is expected to be the fastest-growing market in the overall HIPPS market during the forecast period. With growing industrialization in APAC, increasing industrial and machine safety emphasis by the organizations, and influence of multinational companies in adoption of safety systems are driving the demand for HIPPS in the APAC region.

One of the key restraining factors is the high acquisition cost of HIPPS system. HIPPS is a combination of various safety products such as, logic solvers, field initiators, and final elements. The price of HIPPS components, installation cost, and maintenance and repairs costs puts a substantial burden on the organizational budget. Such upgradations requires additional investments in safety components and systems

Key market players such as Rockwell Automation (U.S.) and Schneider Electric SE (France) are focusing on new product launches and developments, acquisitions, and collaborations strategies to enhance their product offerings and expand their business.

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