High-Integrity Pressure Protection System (HIPPS) Market

High-Integrity Pressure Protection System (HIPPS) Market by Component (Field Initiator, Logic Solver, Valve, Actuator), Service (Maintenance, Testing, Inspection, & Certification, Training & Consulting), Industry, and Region - Global Forecast to 2024

Report Code: SE 4646 Sep, 2019, by marketsandmarkets.com

[176 Pages Report] The high-integrity pressure protection system (HIPPS) market size is estimated to grow from USD 486 million in 2019 to USD 724 million by 2024, at a CAGR of 8.3%. A high-integrity pressure protection system (HIPPS) is a safety instrumented system (SIS) designed to avoid the overpressure generated during hazardous processes, mainly in oil & gas plants, by shutting off the source and capturing the pressure in the upstream side of the system. In process industries, a safety system is to prevent the loss of containment occurred when a vessel or a pipeline is ruptured due to overpressure. Overpressure can be handled using relief systems; however, the release of flammable, explosive, hazardous, or toxic process fluids in the environment may have an adverse impact on humans and the environment.

Key factors driving the HIPPS industry includes imposing government regulatory norms to ensure safety and security at manufacturing plants, increasing focus of countries across the world on participating in gas flaring and venting reduction programs, and rising demand for reliable safety solutions for personnel and asset protection in high-pressure environments. Lack of awareness and high installation cost of high-integrity pressure protection system are the key restraining factors for the High-Integrity Pressure Protection System Market market growth.

High-Integrity Pressure Protection System Market

The market for components to grow at a significant rate from 2019 to 2024

Components accounted for the largest HIPPS market share in 2018, and a similar trend is expected to continue in the next few years owing to its increasing adoption in process industries. The complete HIPPS solutions consist of pressure sensors/transmitters, logic solvers, valves, actuators, and other components such as solenoids, control panels and software, alarms, valve positioners, manifolds, and accessories. Valves are used to control the plant pressure and discharge a certain amount of steam or gas without electric power. Valves actuate or stop the flow of any dangerous fluid or external hydrocarbons (gases) on detection of a hazardous event. Logic solvers are highly flexible, efficient, reliable, and secure, as well as can be installed easily. Many standard and safety-related applications in the process industry require one or more single-loop logic solvers, offering flexibility and user-friendly advantages to programmers.

Chemicals to grow at a higher CAGR from 2019 to 2024.

Safety and reliability are critical factors for the chemicals industry. For reliable and accurate workflow in this industry, the functional safety of plants is necessary. The chemicals industry involves inherent risks due to the presence of dangerous materials such as gases and chemicals. Every year, several workers are injured, affected, or killed because of the exposure to harmful chemical substances. These incidents cause human suffering, loss of production, and high medical costs. Chemical companies are increasingly implementing HIPPS to comply with stringent safety regulations and reduce gas flaring. Owing to this, the market for HIPPS in the chemicals industry is likely to grow at the highest CAGR during the forecast period.

High-Integrity Pressure Protection System Market

APAC to grow at fastest CAGR during the forecast period”

The APAC HIPPS market is expected to grow at highest CAGR during the forecast period owing to the focus of countries on expanding oil & gas refining capacity and significant growth in the chemicals industry. The rising adoption of functional safety systems in the oil & gas industry has fostered the demand for HIPPS to ensure the protection of the environment, equipment, and personnel. In recent years, the requirement for gas in China has surged sharply due to the expansion of the petroleum industry, improvement in living standards, and the development of gas infrastructure. HIPPS is used majorly in oil & gas, and petrochemical plants in India to minimize hazardous effects of overpressurization situations as this system prevents the loss of oil or gas due to the explosion. New investments in these industries are likely to support the growth of the high-integrity pressure protection system market in India.

Key Market Players

As of 2018, Emerson Electric (US), Yokogawa Electric (Japan), Hima (Germany), Schneider Electric (France), General Electric (US), ABB (Switzerland), Rockwell Automation (US), Honeywell (US), Schlumberger (US), Siemens (Germany), and Mokveld Valves (Netherlands) are among the major players in the HIPPS market.

Emerson Electric was a leading player in the high-integrity pressure protection system market in 2018. Emerson is a key player that offers automation solutions to various end-user industries. The company has built a diversified product portfolio of field initiators, logic solvers, and final control elements that enables it to respond to market challenges and opportunities effectively. Emerson Electric has operations in all the major geographies and makes significant investments in R&D; it stood at USD 436 million in 2018.

Yokogawa Electric Corporation is a leading supplier of industrial automation and process safety solutions. The company has adopted inorganic strategies, such as partnerships and contracts, to grow in the HIPPS market. For instance, in June 2017, Yokogawa (China) signed a 3-year agreement with Sinopec Engineering (Group) Co., Ltd. (SEG) to build a long-term collaborative relationship. Yokogawa Electric has a strong presence in Japan, with 31.7% of its total revenue generated from the Japanese market in 2018.

HIMA is a major provider of safety solutions, with operations in all major geographies. Over 35,000 TάV-certified safety systems from HIMA have been deployed worldwide. Its strong market position enables it to gain business coverage and increase investor confidence. Expansion and agreements have been the major strategies adopted by the company to compete in the market. It signed a contract with INPEX in January 2018, under which HIMA will provide maintenance support for safety instrumented systems at the Ichthys LNG Project in Australia.

Other key players in the HIPPS market include Mogas Industries (US), Velan, Inc. (Canada), Paladon Systems (UK), Severn Glocon Group (UK), IMI plc (UK), British Engines (UK), SAMSON GROUP (Germany), Larsen & Toubro (L&T, India), PetrolValves S.p.A. (Italy), ProControl (Italy), ValvTechnologies Inc. (US), Pietro Fiorentini S.p.A (Pietro Fiorentini, Italy), Frames Group (Netherlands), and DAFRAM S.p.A. (Italy).

Scope of Report:

Report Metric

Details

Years considered for providing market size

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD million)

Segments covered

Offering (component and services), Industry

Regions covered

North America, APAC, Europe, and RoW

Companies covered

Emerson Electric (US), Yokogawa Electric (Japan), Hima (Germany), Schneider Electric (France), General Electric (US), ABB (Switzerland), Rockwell Automation (US), Honeywell (US), Schlumberger (US), Siemens (Germany), and Mokveld Valves (Netherlands) are among the major players in the HIPPS market. A total of 25 companies are covered in this study.

In this report, the overall HIPPS market has been segmented based on offering, industry, and region.

By Offering

  • Components
    • Field Initiators
    • Logic Solvers
    • Final Control Elements
      • Valves
      • Actuators
    • Others
  • Services
    • Testing, Inspection, and Certification
    • Maintenance
    • Training and Consulting

By Industry

  • Oil & Gas
    • Upstream
    • Midstream
    • Downstream
  • Chemicals
  • Power Generation
  • Food & Beverages
  • Pharmaceuticals
  • Water & Wastewater
  • Metals & Mining
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Russia
    • UK
    • Norway
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Australia
    • Rest of APAC
  • Rest of the World (RoW)
    • South America
    • Middle East
    • Africa

Recent Developments

  • In March 2019, HIMA launched HIJunctionBox to expand its Smart Safety Platforms. HIJunctionBox can be deployed within the HIMA Smart Safety Platform or as an extension to existing control systems. The modular and standardized design of the HIJunctionBox offers plant operators additional benefits of cost-effectiveness and installation planning. The HIJunctionBox can also be used under harsh environmental conditions.
  • In February 2019, Rockwell automation entered into a joint venture with Schlumberger to create Sensia, the oil & gas industry’s first fully-integrated automation solution provider. It will provide scalable, cloud- and edge-enabled process automation, comprising information and process safety solutions.
  • In February 2018, Emerson received a multiyear automation project contract worth USD 90 million for BP’s Glen Lyon floating production, storage, and offloading (FPSO) vessel west of Shetland. Emerson will provide automation technologies, including DeltaV SIS integrated control and safety systems, to help optimize production and yield, avoid environmental impact, and operate safely.

Critical Questions:

  • Which component and service type of HIPPS is expected to have the highest demand in the future?
  • Who are the top 5 players in the HIPPS market?
  • What is the process-flow analysis for High-Integrity Pressure Protection System market?
  • What are the growth opportunities for manufacturers in various industries?
  • How can safety solutions providers tap high growth opportunities in the HIPPS market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Study Objectives
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primary Interviews
                    2.1.2.2 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 36)
    4.1 Lucrative Opportunities in HIPPS Market
    4.2 HIPPS Market, By Offering
    4.3 Market, By Component
    4.4 Market in North America, By Industry and Country
    4.5 Market in Europe, By Service
    4.6 Market, By Region

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Imposing Government Regulatory Norms to Ensure Safety and Security at Manufacturing Plants
                    5.2.1.2 Increasing Focus of Countries Across the World on Participating in Gas Flaring and Venting Reduction Programs
                    5.2.1.3 Rising Demand for Reliable Safety Solutions for Personnel and Asset Protection in High-Pressure Environments
           5.2.2 Restraints
                    5.2.2.1 Lack of Awareness and Perceived Complexity
                    5.2.2.2 High Installation Cost of High-Integrity Pressure Protection System
           5.2.3 Opportunities
                    5.2.3.1 Increasing Exploration and Production Activities in Oil & Gas Industry
           5.2.4 Challenges
                    5.2.4.1 High Complexity of Safety Applications
                    5.2.4.2 Lack of Certified Workforce to Ensure Functional Safety

6 HIPPS Safety Standards and Recommended Practices (Page No. - 44)
    6.1 Introduction
    6.2 HIPPS Safety Standards and SIL
           6.2.1 Safety Integrity Level (SIL)
           6.2.2 IEC 61508
           6.2.3 IEC 61511
    6.3 Process Flow Analysis of HIPPS
    6.4 Comparison of Pressure Safety Valves and HIPPS

7 HIPPS Market, By Offering (Page No. - 49)
    7.1 Introduction
    7.2 Components
           7.2.1 Field Initiators
                    7.2.1.1 Pressure Transmitters/Sensors are Used as Field Initiators in HIPPS
           7.2.2 Logic Solvers
                    7.2.2.1 Logic Solvers Act as Backbone of Entire HIPPS and Provide Both Fail-Safe and Fault-Tolerant Operations
           7.2.3 Final Control Elements
                    7.2.3.1 Valves
                               7.2.3.1.1 Valves Accounted for Largest Size of HIPPS Market in 2018
                    7.2.3.2 Actuators
                               7.2.3.2.1 Pneumatic Actuators are Frequently Used Actuators in HIPPS
           7.2.4 Others
    7.3 Services
           7.3.1 Testing, Inspection, and Certification
                    7.3.1.1 Market for Tic Services is Likely to Grow at Highest CAGR From 2019 to 2024
           7.3.2 Maintenance
                    7.3.2.1 Maintenance Services Expected to Continue to Hold Largest Size of HIPPS Market During 2019–2024
           7.3.3 Training and Consulting
                    7.3.3.1 Training and Consulting Services are Gaining Pace With Rising Adoption of HIPPS in Process Plants

8 HIPPS Market, By Industry (Page No. - 70)
    8.1 Introduction
    8.2 Oil & Gas
           8.2.1 Upstream
                    8.2.1.1 Upstream Sector of Oil & Gas Industry Held Largest Size of HIPPS Market in 2018
           8.2.2 Midstream
                    8.2.2.1 Growing Number of Oil and Gas Pipelines is Likely to Drive Demand for HIPPS in Midstream Sector of Oil & Gas Industry
           8.2.3 Downstream
                    8.2.3.1 LNG Regasification Plants to Offer Lucrative Opportunities for HIPPS in Downstream Sector of Oil & Gas Industry
    8.3 Chemicals
           8.3.1 Market for HIPPS in Chemicals Industry to Grow at Highest CAGR During Forecast Period
    8.4 Power Generation
           8.4.1 Power Generation Industry Uses HIPPS for Protecting Plants From Overpressurization
    8.5 Food & Beverages
           8.5.1 Food & Beverages Industry Employ HIPPS Owing to Environmental Concerns and Regulatory Issues
    8.6 Pharmaceuticals
           8.6.1 Pharmaceutical Companies Implement HIPPS to Improve Plant Safety Against Overpressure Events
    8.7 Water & Wastewater
           8.7.1 HIPPS Helps in Improving Operational Efficiency and Saving Operational Costs of Water & Wastewater Treatment Plants
    8.8 Metals & Mining
           8.8.1 HIPPS Helps to Ensure Efficient and Safe Production and Trouble-Free Processing in Metals & Mining Industry
    8.9 Others

9 Geographic Analysis (Page No. - 86)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 US to Hold Largest Size of HIPPS Market in North America During Forecast Period
           9.2.2 Canada
                    9.2.2.1 Oil & Gas Industry to Dominate HIPPS Market in Canada During Forecast Period
           9.2.3 Mexico
                    9.2.3.1 Abundance of Oil & Gas Reserves in Mexico to Offer Opportunities for HIPPS Manufacturers
    9.3 Europe
           9.3.1 Russia
                    9.3.1.1 in 2018, Russia Held Largest Size of HIPPS Market in Europe
           9.3.2 UK
                    9.3.2.1 The UK is One of the Important Markets for HIPPS in Europe
           9.3.3 Norway
                    9.3.3.1 HIPPS Market in Norway is Driven By Growing Participation of Country in Oil & Gas Subsea Exploration Activities
           9.3.4 Rest of Europe
    9.4 APAC
           9.4.1 China
                    9.4.1.1 Oil & Gas and Chemicals are Major End-User Industries for HIPPS in China
           9.4.2 India
                    9.4.2.1 HIPPS Market in India to Grow at Fastest CAGR During Forecast Period
           9.4.3 Australia
                    9.4.3.1 Increase in LNG Production in Australia to Offer Lucrative Opportunities for HIPPS Manufacturers During Forecast Period
           9.4.4 Rest of APAC
    9.5 RoW
           9.5.1 Middle East
                    9.5.1.1 Middle East Held Largest Size of HIPPS Market for Oil & Gas Industry in 2018
           9.5.2 South America
                    9.5.2.1 Brazil, Colombia, Argentina, and Venezuela are Expected to Be Booming Markets for HIPPS in South America
           9.5.3 Africa
                    9.5.3.1 Nigeria, Algeria, Angola, Libya, and Egypt are Leading Producers of Oil and Gas in Africa and Hold Thriving Opportunities in HIPPS Market

10 Competitive Landscape (Page No. - 125)
     10.1 Overview
     10.2 Ranking Analysis: HIPPS Market
     10.3 Competitive Leadership Mapping, 2018
             10.3.1 Visionary Leaders
             10.3.2 Dynamic Differentiators
             10.3.3 Innovators
             10.3.4 Emerging Companies
     10.4 Strength of Product Portfolio
     10.5 Business Strategy Excellence
     10.6 Competitive Scenario
             10.6.1 Product Launches and Developments
             10.6.2 Acquisitions
             10.6.3 Agreements, Partnerships, Joint Ventures, and Contracts
             10.6.4 Expansions

11 Company Profiles (Page No. - 136)
(Business Overview, Products & Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     11.1 Key Players
             11.1.1 Emerson Electric
             11.1.2 Yokogawa Electric Corporation
             11.1.3 Schneider Electric
             11.1.4 Hima
             11.1.5 Rockwell Automation
             11.1.6 General Electric
             11.1.7 ABB
             11.1.8 Siemens AG
             11.1.9 Schlumberger
             11.1.10 Honeywell
     11.2 Other Key Players
             11.2.1 Mogas Industries
             11.2.2 Velan Inc
             11.2.3 Paladon Systems Ltd.
             11.2.4 Pietro Fiorentini (Arvan SRL)
             11.2.5 IMI PLC.
             11.2.6 British Engines Limited (Bel Valves Ltd)
             11.2.7 Dafram SPA
             11.2.8 Frames Group
             11.2.9 Larsen & Toubro
             11.2.10 Mokveld Valves
             11.2.11 Petrolvalves
             11.2.12 Procontrol
             11.2.13 Samson Group (Ringo Valvulas)
             11.2.14 Severn Glocon Group
             11.2.15 Valvtechnologies Inc.

*Details on Business Overview, Products & Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 169)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (111 Tables)

Table 1 SIL and Related Measures
Table 2 Difference Between IEC 61508 and IEC 61511 Standards
Table 3 Comparison of HIPPS and Psv
Table 4 High-Integrity Pressure Protection System Market, By Offering, 2017–2024 (USD Million)
Table 5 High-Integrity Pressure Protection System Market, By Component, 2017–2024 (USD Million)
Table 6 High-Integrity Pressure Protection System Market for Components, By Region, 2017–2024 (USD Million)
Table 7 Market for Components, By Industry, 2017–2024 (USD Million)
Table 8 Market for Field Initiators, By Region, 2017–2024 (USD Million)
Table 9 Market for Field Initiators, By Industry, 2017–2024 (USD Million)
Table 10 Market for Logic Solvers, By Region, 2017–2024 (USD Million)
Table 11 Market for Logic Solvers, By Industry, 2017–2024 (USD Million)
Table 12 Market for Valves, By Region, 2017–2024 (USD Million)
Table 13 Market for Valves, By Industry, 2017–2024 (USD Million)
Table 14 Market for Actuators, By Region, 2017–2024 (USD Million)
Table 15 Market for Actuators, By Industry, 2017–2024 (USD Million)
Table 16 Market for Other Components, By Region, 2017–2024 (USD Million)
Table 17 Market for Other Components, By Industry, 2017–2024 (USD Million)
Table 18 Market, By Service Type, 2017–2024 (USD Million)
Table 19 Market for Services, By Region, 2017–2024 (USD Million)
Table 20 Market for Services, By Industry, 2017–2024 (USD Million)
Table 21 Market for Testing, Inspection, and Certification Services, By Region, 2017–2024 (USD Million)
Table 22 High-Integrity Pressure Protection System Market for Testing, Inspection, and Certification Services, By Industry, 2017–2024 (USD Million)
Table 23 HIPPS Market for Maintenance Services, By Region, 2017–2024 (USD Million)
Table 24 HIPPS Market for Maintenance Services, By Industry, 2017–2024 (USD Million)
Table 25 High-Integrity Pressure Protection System Market for Training and Consulting Services, By Region, 2017–2024 (USD Million)
Table 26 Market for Training and Consulting Services, By Industry, 2017–2024 (USD Million)
Table 27 Market, By Industry, 2017–2024 (USD Million)
Table 28 Market for Oil & Gas Industry, By Region, 2017–2024 (USD Million)
Table 29 Market for Oil & Gas Industry, By Offering, 2017–2024 (USD Million)
Table 30 Market for Oil & Gas Industry, By Sector, 2017–2024 (USD Million)
Table 31 Typical Applications of HIPPS in Upstream, Midstream, and Downstream Sectors
Table 32 Market for Chemicals Industry, By Region, 2017–2024 (USD Million)
Table 33 Market for Chemicals Industry, By Offering, 2017–2024 (USD Million)
Table 34 Market for Power Generation Industry, By Region, 2017–2024 (USD Million)
Table 35 Market for Power Generation Industry, By Offering, 2017–2024 (USD Million)
Table 36 Market for Food & Beverages Industry, By Region, 2017–2024 (USD Million)
Table 37 Market for Food & Beverages Industry, By Offering, 2017–2024 (USD Million)
Table 38 High-Integrity Pressure Protection System Market in Pharmaceuticals Industry, By Region, 2017–2024 (USD Million)
Table 39 Market in Pharmaceuticals Industry, By Offering, 2017–2024 (USD Million)
Table 40 Market for Water & Wastewater Industry, By Region, 2017–2024 (USD Million)
Table 41 Market for Water & Wastewater Industry, By Offering, 2017–2024 (USD Million)
Table 42 Market for Metals & Mining Industry, By Region, 2017–2024 (USD Million)
Table 43 Market for Metals & Mining Industry, By Offering, 2017–2024 (USD Million)
Table 44 Market in Other Industries, By Region, 2017–2024 (USD Million)
Table 45 Market for Other Industries, By Offering, 2017–2024 (USD Million)
Table 46 Market, By Region, 2017–2024 (USD Million)
Table 47 Market in North America, By Industry, 2017–2024 (USD Million)
Table 48 Market in North America, By Offering, 2017–2024 (USD Million)
Table 49 HIPPS Market in North America, By Component, 2017–2024 (USD Million)
Table 50 Market in North America, By Service, 2017–2024 (USD Million)
Table 51 Market in North America, By Country, 2017–2024 (USD Million)
Table 52 Market in US, By Offering, 2017–2024 (USD Million)
Table 53 Market in US, By Component, 2017–2024 (USD Million)
Table 54 Market in US, By Service, 2017–2024 (USD Million)
Table 55 Market in Canada, By Offering, 2017–2024 (USD Million)
Table 56 Market in Canada, By Component, 2017–2024 (USD Million)
Table 57 Market in Canada, By Service, 2017–2024 (USD Million)
Table 58 Market in Mexico, By Offering, 2017–2024 (USD Million)
Table 59 Market in Mexico, By Component, 2017–2024 (USD Million)
Table 60 Market in Mexico, By Service, 2017–2024 (USD Million)
Table 61 Market in Europe, By Industry, 2017–2024 (USD Million)
Table 62 Market in Europe, By Offering, 2017–2024 (USD Million)
Table 63 Market in Europe, By Component, 2017–2024 (USD Million)
Table 64 Market in Europe, By Service, 2017–2024 (USD Million)
Table 65 Market in Russia, By Offering, 2017–2024 (USD Million)
Table 66 Market in Russia, By Component, 2017–2024 (USD Million)
Table 67 Market in Russia, By Service, 2017–2024 (USD Million)
Table 68 Market in UK, By Offering, 2017–2024 (USD Million)
Table 69 Market in UK, By Component, 2017–2024 (USD Million)
Table 70 Market in UK, By Service, 2017–2024 (USD Million)
Table 71 Market in Norway, By Offering, 2017–2024 (USD Million)
Table 72 Market in Norway, By Component, 2017–2024 (USD Million)
Table 73 Market in Norway, By Service, 2017–2024 (USD Million)
Table 74 Market in Rest of Europe, By Offering, 2017–2024 (USD Million)
Table 75 Market in Rest of Europe, By Component, 2017–2024 (USD Million)
Table 76 Market in Rest of Europe, By Service, 2017–2024 (USD Million)
Table 77 Market in APAC, By Industry, 2017–2024 (USD Million)
Table 78 Market in APAC, By Offering, 2017–2024 (USD Million)
Table 79 Market in APAC, By Component, 2017–2024 (USD Million)
Table 80 Market in APAC, By Service, 2017–2024 (USD Million)
Table 81 Market in APAC, By Country, 2017–2024 (USD Million)
Table 82 Market in China, By Offering, 2017–2024 (USD Million)
Table 83 High-Integrity Pressure Protection System Market in China, By Component, 2017–2024 (USD Million)
Table 84 Market in China, By Service, 2017–2024 (USD Million)
Table 85 Market in India, By Offering, 2017–2024 (USD Million)
Table 86 Market in India, By Component, 2017–2024 (USD Million)
Table 87 Market in India, By Service, 2017–2024 (USD Million)
Table 88 Market in Australia, By Offering, 2017–2024 (USD Million)
Table 89 HIPPS Market in Australia, By Component, 2017–2024 (USD Million)
Table 90 Market in Australia, By Service, 2017–2024 (USD Million)
Table 91 Market in Rest of APAC, By Offering, 2017–2024 (USD Million)
Table 92 Market in Rest of APAC, By Component, 2017–2024 (USD Million)
Table 93 High-Integrity Pressure Protection System Market in Rest of APAC, By Service, 2017–2024 (USD Million)
Table 94 Market in RoW, By Industry, 2017–2024 (USD Million)
Table 95 Market in RoW, By Offering, 2017–2024 (USD Million)
Table 96 Market in RoW, By Component, 2017–2024 (USD Million)
Table 97 HIPPS Market in RoW, By Service, 2017–2024 (USD Million)
Table 98 Market in RoW, By Region, 2017–2024 (USD Million)
Table 99 High-Integrity Pressure Protection System Market in Middle East, By Offering, 2017–2024 (USD Million)
Table 100 Market in Middle East, By Component, 2017–2024 (USD Million)
Table 101 Market in Middle East, By Service, 2017–2024 (USD Million)
Table 102 Market in South America, By Offering, 2017–2024 (USD Million)
Table 103 Market in South America, By Component, 2017–2024 (USD Million)
Table 104 High-Integrity Pressure Protection System Market in South America, By Service, 2017–2024 (USD Million)
Table 105 High-Integrity Pressure Protection System Market in Africa, By Offering, 2017–2024 (USD Million)
Table 106 Market in Africa, By Component, 2017–2024 (USD Million)
Table 107 Market in Africa, By Service, 2017–2024 (USD Million)
Table 108 Product Launches and Developments, 2016–2019
Table 109 Acquisitions, 2017–2018
Table 110 Agreements, Partnerships, Joint Ventures, and Contracts, 2016–2019
Table 111 Expansions, 2016–2018


List of Figures (54 Figures)

Figure 1 HIPPS Market Segmentation
Figure 2 HIPPS Market: 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 Assumption of Research Study
Figure 7 HIPPS Market for Services to Grow at Higher CAGR During Forecast Period
Figure 8 Valves to Hold Largest Size of HIPPS Market for Components During Forecast Period
Figure 9 Maintenance Services to Hold Largest Size of HIPPS Market During Forecast Period
Figure 10 Oil & Gas Industry to Account for Largest Size of HIPPS Market During Forecast Period
Figure 11 North America to Dominate HIPPS Market During Forecast Period
Figure 12 Attractive Opportunities in HIPPS Market From 2019 to 2024
Figure 13 Components to Account for Larger Share of HIPPS Market, By Offering, During Forecast Period
Figure 14 Valves to Continue to Hold Largest Size of HIPPS Market, By Component, From 2019 and 2024
Figure 15 US to Hold Largest Share of HIPPS Market in North America in 2019
Figure 16 Maintenance Services to Account for Largest Size of HIPPS Market in Europe During Forecast Period
Figure 17 North America to Hold Largest Size of HIPPS Market During Forecast Period
Figure 18 HIPPS Market Dynamics
Figure 19 Process Flow Analysis - HIPPS Market
Figure 20 HIPPS Market Segmentation, By Offering
Figure 21 Service Offerings to Exhibit Higher CAGR in HIPPS Market During Forecast Period
Figure 22 Logic Solvers to Witness Highest CAGR in HIPPS Market During Forecast Period
Figure 23 North America Held Largest Size of HIPPS Market for Field Initiators in 2018
Figure 24 Oil & Gas Industry to Account for Largest Size of HIPPS Market for Valves During Forecast Period
Figure 25 North America Held Largest Size of HIPPS Market for Actuators in 2018
Figure 26 Maintenance Services to Capture Largest Size of HIPPS Market for Service Offerings During Forecast Period
Figure 27 Market for Maintenance Services in APAC to Grow at Highest CAGR During Forecast Period
Figure 28 Market Segmentation, By Industry
Figure 29 Oil & Gas Industry to Account for Largest Size of HIPPS Market During Forecast Period
Figure 30 Upstream Segment to Lead HIPPS Market for Oil & Gas Industry During Forecast Period
Figure 31 Europe Held Largest Size of HIPPS Market for Chemicals Industry in 2018
Figure 32 APAC to Dominate HIPPS Market for Power Generation Industry During Forecast Period
Figure 33 North America to Hold Largest Size of HIPPS Market for Pharmaceuticals Industry From 2019 to 2024
Figure 34 India and China to Offer Significant Growth Opportunities for HIPPS Market During Forecast Period
Figure 35 North America: HIPPS Market Snapshot
Figure 36 US to Dominate HIPPS Market in North America During Forecast Period
Figure 37 Europe: HIPPS Market Snapshot
Figure 38 Russia to Account for Largest Size of European HIPPS Market During Forecast Period
Figure 39 APAC: HIPPS Market Snapshot
Figure 40 China to Hold Largest Size of HIPPS Market in APAC During Forecast Period
Figure 41 RoW: HIPPS Market Snapshot
Figure 42 Middle East to Capture Largest Size of HIPPS Market in RoW During Forecast Period
Figure 43 Key Players Adopted Product Launches and Developments, Partnerships, Acquisitions, and Contracts as Key Growth Strategies During 2016–2019
Figure 44 Ranking of Top 3 Players in HIPPS Market (2018)
Figure 45 Market (Global) Competitive Leadership Mapping, 2018
Figure 46 Emerson Electric: Company Snapshot
Figure 47 Yokogawa Electric: Company Snapshot
Figure 48 Schneider: Company Snapshot
Figure 49 Rockwell: Company Snapshot
Figure 50 General Electric: Company Snapshot
Figure 51 ABB: Company Snapshot
Figure 52 Siemens: Company Snapshot
Figure 53 Schlumberger: Company Snapshot
Figure 54 Honeywell: Company Snapshot

The study involved four major activities for estimating the current size of the high-integrity pressure protection system (HIPPS) market. An exhaustive secondary research was carried out to collect information on market. The next step involved the validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. The secondary sources used for this research study include government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. The secondary data have been sourced from associations such as International Electrotechnical Commission (IEC), International Organization for Standardization (ISO), Occupational Safety and Health Administration (OSHA), American National Standards Institute (ANSI), and International Safety Equipment Association (ISEA).

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. Primary sources, such as experts from related industries and suppliers, have been interviewed to obtain and verify critical information related to HIPPS. Key players in the HIPPS market have been identified through secondary research, and their respective market rankings have been determined through primary and secondary research. This research includes the study of annual reports of the top market players and interviews with key opinion leaders, such as CEOs, directors, and marketing personnel.

High-Integrity Pressure Protection System Market

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

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the HIPPS market and other dependent submarkets listed in this report.

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size through the estimation process, the total market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

The objectives of the study are as follows:

  • To describe and forecast the high-integrity pressure protection system (HIPPS) market, by offering (components and services), industry, and geography, in terms of value
  • To describe and forecast the market for various segments with regard to four main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), in terms of value
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges pertaining to the HIPPS market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments in the overall HIPPS market
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contribution to the global HIPPS market
  • To strategically profile key players and comprehensively analyze their market ranking based on their revenues and core competencies, along with detailing the competitive landscape for market leaders
  • To provide a detailed overview of the process flow analysis in the HIPPS market
  • To provide a brief overview of safety standards pertaining to HIPPS
  • To analyze competitive developments such as product launches, expansions, acquisitions, contracts, and partnerships in the HIPPS market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to a company’s specific need. The following customization options are available for the report.

Company information

  • Detailed analysis and profiling of additional market players (up to 5)
  • Detailed analysis of country-level market size in the Middle East
Report Code
SE 4646
Published ON
Sep, 2019
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