High-Integrity Pressure Protection System (HIPPS) Market

High-Integrity Pressure Protection System (HIPPS) Market by Component (Field Initiator, Logic Solver, Valves, Actuators), Service (Maintenance, TIC), Industry (Oil & Gas, Chemical) and Region (2022-2027)

Report Code: SE 4646 Jan, 2022, by marketsandmarkets.com

[159 Pages Report] The global High Integrity Pressure Protection System market size was valued at USD 484 million in 2022 and is projected to reach USD 670 billion by 2027. It is expected to grow at a CAGR of 6.7% during the forecast period.

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.

The market growth is mainly attributed to growing need for reducing flaring to protect the environment and the imposition of stringent regulatory norms by governments to ensure safety and security at manufacturing plants. The high installation cost of HIPPS is expected to be the key restraining factor for the HIPPS market growth.

High-Integrity Pressure Protection System (HIPPS) Market

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Impact of Covid-19 on HIPPS market

The outbreak and widespread of the COVID-19 pandemic adversely affected the growth of the oil & gas industry. The imposition of various restrictions by governments worldwide in 2020 created a wide gap between supply and demand. The decline in the industry’s growth had a cascading effect on the growth of the HIPPS market in 2020. Additionally, restrictions on foreign trade due to the lockdown of international borders, nonoperational distribution channels, and various preventive measures undertaken for public health and safety impacted the manufacturing and procurement of components required for the HIPPS system. Thus, in 2020, the HIPPS market witnessed a drop in growth by approximately 5%. However, the market recovered in 2021 with stabilizing oil prices and production.

Market Dynamics:

Driver: Growing need for reducing gas flaring and venting to protect environment

Gas flaring is usually carried out at oil and gas production sites during scheduled maintenance, equipment repair, or shutdown events. The technique allows controlled pressure release from the gas collection and processing systems. Thus, it is used to maintain pressures and ensure safe and efficient operations within industrial plants. However, currently, gas flaring has become one of the major concerns in process industries as it burns valuable natural resources and produces a large amount of carbon dioxide, sulfur dioxide, and nitrous oxide gases, which adversely affect the environment. Similarly, gas venting is also carried out to maintain safety during different stages of the treatment process. In this procedure, unburnt gases (impure gases) are released into the atmosphere, which can adversely affect human health. To counter the issues associated with gas flaring and venting, oil and gas manufacturers are using floating liquefied natural gas (FLNG) vessels for zero hydrocarbon gas flaring under normal operating conditions. In addition, the HIPPS is deployed at the FLNG gas inlet to shut down the gas flow during over-pressurization events, thereby reducing the requirement of flaring. HIPPS is a reliable safety instrumented system (SIS) used to prevent catastrophic over-pressurization and release of toxic, explosive, and flammable chemicals.

Restraint: High installation cost associated with high-integrity pressure protection system (HIPPS)

The HIPPS is a combination of various safety products, such as pressure transmitters, logic solvers, field initiators, and final elements—valves and actuators. It is installed as a safety measure for safeguarding employees, machines, and production lines in an emergency. However, the costs associated with HIPPS components, installation, maintenance, and repair add a substantial burden on organizations’ budgets. Although large organizations can manage these expenses, it can be difficult for medium- and small-sized organizations. In addition, HIPPSs need to comply with regulatory standards that are frequently updated according to technological advancements and new mandates, resulting in the requirement on organizations to upgrade their safety systems. This requires additional investments in the deployment of safety components and systems.

Opportunity: Expansion of refineries and petrochemical plants

The industrial sector, which includes the oil & gas and chemical industries, in emerging and developed countries is growing consistently. The petrochemical industry accounts for 12% of the global demand for feedstock, which is expected to increase with the rising demand for fertilizers, plastics, and other products. In addition, many planned projects related to the production and transportation of oil and gas have been planned on the global level.

Challenge: Complexity in designing of HIPPS

Designing safety systems that meet the functional safety requirements can be a challenging task for system designers—especially when these systems are used to manage a large number of applications. The challenge for engineers is to design the architecture in a way that the system prevents failures due to hardware and software faults.

“Valves to hold the largest size in components of HIPPS market during the forecast period”

Final control elements of HIPPS include valves and actuators that perform the process shut down operation in the case of overpressure conditions. Valve is the most critical component in operation of a HIPPS system, it is used to shut-off pipeline which prevents overpressure occurring in downstream of the system. Valves incur the major cost in the assembly of a HIPPS.

“Market for testing, inspection, and certification services to grow at fastest CAGR from 2022 to 2027”

The adoption of HIPPS is increasing in the green field projects, this has improved the demand for services in HIPPS as they help to improve and extend the operational life of the HIPPS. Testing, inspection, and certification services play a crucial role in the HIPPS market. HIPPS is inspected regularly for discontinuities, defects, or any other faults that might reduce its operational reliability, leading to failure. Maintenance is a critical factor in the overall life cycle of HIPPS. This helps to ensure maintain the designed SIL rating of the system.

“Oil & gas accounted for the largest share of the HIPPS market in 2021”

The oil & gas industry accounted for the largest share of HIPPS market in 2021 owing to the growing transportation sector, increasing energy demand, and rising drilling activities in the Gulf Cooperation Council (GCC) countries. The outbreak of the COVID-19 pandemic adversely affected the growth of the oil & gas industry in 2020 due to the decline in oil prices and production activities. However, by the end of 2020, the major oil-producing companies resumed oil exploration and drilling activities. Oil extraction and offshore rig activities can be extremely hazardous. The demand for HIPPS is likely to increase significantly between the forecasted period, as new projects are initiated and expansion of existing oil extraction activities in several countries.

“Market in APAC to grow at fastest CAGR during the forecast period”

The HIPPS market in APAC is expected to grow at the highest CAGR owing to the increasing number of oil and gas refineries and significant growth in the chemicals industry. APAC presents a high potential for installation of HIPPS in the oil & gas, chemicals, and power generation industries. The growing demand for petrochemicals in countries such as China and India are augmenting the production of oil, gas, and chemicals. The oil & gas industry is likely to witness an increased demand for HIPPS, with a growing number of greenfield projects planned in countries such as India and China.

High-Integrity Pressure Protection System (HIPPS) Market  by Region

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Key Market Players

A few of the key players in the HIPPS market are Emerson Electric Co. (US), Yokogawa Electric Corp. (Japan), HIMA (Germany), Rockwell Automation Inc. (US), Schneider Electric (France), Honeywell International (US), ABB (Switzerland), Siemens (Germany), Schlumberger (US), and Baker Hughes (US) are among the major players in the HIPPS market

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Scope of the Report

Report Metric

Detail

Market Size Availability for Years

2018–2027

Base Year

2021

Forecast Period

2022–2027

Forecast Units

Value (USD)

Segments Covered

By offerings, type, and industry

Geographies Covered

North America, Europe, APAC, Middle East, and RoW

Companies Covered

Emerson Electric Co. (US), Yokogawa Electric Corp. (Japan), HIMA (Germany), Rockwell Automation Inc. (US), Schneider Electric (France), Honeywell International (US), ABB (Switzerland), Siemens (Germany), Schlumberger (US), and Baker Hughes (US) are the key players in the HIPPS market.

A total of 25 players are covered.

This research report categorizes the HIPPS market, by type, offering (components and services), industry, and region

Based on the types:

  • Electronic HIPPS
  • Mechanical HIPPS

Based on the Components:

  • Field Initiators
  • Logic Solver
    • Solid State
    • Others
  • Final Element
    • Actuators
    • Valve
  • others

Based on the Services:

Based on end-user industry:

  • Oil & Gas
  • Chemicals

Based on the region:

  • North America
  • Europe
  • APAC
  • Middle East
  • RoW (South America, & Africa)

Recent Developments

  • In October 2021, Emerson launched the first comprehensive valve assemblies that fulfill safety integrity level (SIL) 3 as per the IEC 61508 standard of the International Electrotechnical Commission.
  • In September 2021, Yokogawa launched its new Electric Exaquantum Safety Function Monitoring (SFM) software, a solution to identify whether actual operating performance meets safety design targets. The new version of the software supports the International Electrotechnical Commission (IEC) 61511 standard and includes several new features to help SFM users identify potential safety issues, optimize maintenance activities, and improve overall safety solution design.
  • In August 2020, HIMA launched a programmable safety system, HIQuad X, as the further development to HIQuad. HIQuad X is an important component in HIMA’s technically coherent Smart Safety Platform, which unifies all HIMA safety systems.
  • In November 2019, Yokogawa Electric launched an enhanced version of ProSafe-RS safety instrumented system, ProSafe-RS R4.05.00. The new version has a new processor module with a Yokogawa-developed microprocessor unit (MPU). Additionally, it features an enhanced function that speeds up system software upgrades and a new function that helps to prevent operator errors.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 23)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
                    FIGURE 1 HIPPS MARKET: SEGMENTATION
           1.3.2 GEOGRAPHIC SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 MARKET STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 27)
    2.1 RESEARCH DATA
           FIGURE 2 HIPPS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
           2.1.2 SECONDARY DATA
                    2.1.2.1 List of major secondary sources
                    2.1.2.2 Key data from secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Breakdown of primaries
                    2.1.3.2 Key data from primary sources
                    2.1.3.3 Key insights
    2.2 MARKET SIZE ESTIMATION
           FIGURE 3 SUPPLY SIDE ANALYSIS: HIPPS MARKET (1/2)
           FIGURE 4 SUPPLY SIDE ANALYSIS: HIPPS MARKET (2/2)
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for arriving at market size using bottom-up analysis
                               FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for arriving at market size using top-down analysis
                               FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 7 MARKET BREAKDOWN AND DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
    2.5 RISK ASSESSMENTS
           TABLE 1 LIMITATIONS AND ASSOCIATED RISKS

3 EXECUTIVE SUMMARY (Page No. - 37)
    FIGURE 8 HIPPS MARKET SIZE, 2018–2027
    FIGURE 9 HIPPS MARKET FOR SERVICES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
    FIGURE 10 OIL & GAS INDUSTRY TO ACCOUNT FOR LARGER SHARE OF HIPPS MARKET DURING FORECAST PERIOD
    FIGURE 11 NORTH AMERICA TO BE DOMINANT MARKET FOR HIPPS DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 40)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN HIPPS MARKET
           FIGURE 12 GROWING NEED FOR REDUCING FLARING TO PROTECT ENVIRONMENT TO DRIVE GROWTH OF HIPPS MARKET
    4.2 HIPPS MARKET, BY OFFERING
           FIGURE 13 COMPONENT SEGMENT TO HOLD LARGER SHARE OF HIPPS MARKET DURING FORECAST PERIOD
    4.3 HIPPS MARKET IN NORTH AMERICA, BY COUNTRY AND INDUSTRY
           FIGURE 14 US AND OIL & GAS INDUSTRY TO ACCOUNT FOR LARGEST SHARES OF NORTH AMERICAN HIPPS MARKET IN 2027
    4.4 HIPPS MARKET, BY COUNTRY
           FIGURE 15 US TO ACCOUNT FOR LARGEST SHARE OF HIPPS MARKET IN 2027

5 MARKET OVERVIEW (Page No. - 42)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 16 HIPPS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Growing need for reducing gas flaring and venting to protect environment
                    5.2.1.2 Implementation of stringent regulations by governments to ensure safety and security at manufacturing plants
                               FIGURE 17 HIPPS MARKET: IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 High installation cost associated with high-integrity pressure protection system (HIPPS)
                               FIGURE 18 HIPPS MARKET: IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Expansion of refineries and petrochemical plants
                    5.2.3.2 Focus of market players on offering improved customer services
                    5.2.3.3 Growing usage of Industrial Internet of Things (IIoT)
                               FIGURE 19 HIPPS MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 Complexity in designing of high-integrity pressure protection system (HIPPS)
                               FIGURE 20 HIPPS MARKET: IMPACT ANALYSIS OF CHALLENGES
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 21 HIPPS: VALUE CHAIN ANALYSIS
    5.4 ECOSYSTEM ANALYSIS
           FIGURE 22 HIPPS ECOSYSTEM
    5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS
           FIGURE 23 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN HIPPS MARKET
    5.6 CASE STUDY ANALYSIS
           5.6.1 IMI CRITICAL OFFERED COST-EFFECTIVE SOLUTION TO OIL & GAS COMPANY IN LATIN AMERICA
           5.6.2 YOKOGAWA DEMONSTRATED INSTALLATION OF HIPPS IN SUB-SEA CAN DRASTICALLY REDUCE OPERATIONAL COST
           5.6.3 SELLA CONTROLS INSTALLED SKID-MOUNTED HIPPS AT LNG TERMINAL IN INDIA
    5.7 PRICING ANALYSIS
           TABLE 2 AVERAGE SELLING PRICES OF COMPONENTS OF HIPPS OFFERED BY TOP COMPANIES, 2021
           TABLE 3 INDICATIVE PRICES OF COMPONENTS OF HIPPS
    5.8 PORTER’S FIVE FORCES ANALYSIS
           TABLE 4 IMPACT OF EACH FORCE ON HIPPS MARKET
    5.9 TECHNOLOGY ANALYSIS
           5.9.1 SOFTWARE-BASED SIS SOLUTION
    5.10 TRADE ANALYSIS
           FIGURE 24 IMPORT DATA OF HS 848140, BY COUNTRY, 2016–2020 (USD MILLION)
           FIGURE 25 EXPORT DATA OF HS 848140, BY COUNTRY, 2016–2020 (USD MILLION)
    5.11 PATENTS ANALYSIS
                    FIGURE 26 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENTS OWNED IN LAST 10 YEARS
                    TABLE 5 TOP 20 PATENT OWNERS IN LAST 10 YEARS
                    FIGURE 27 NUMBER OF PATENTS GRANTED PER YEAR FROM 2011 TO 2020
                    TABLE 6 LIST OF MAJOR PATENTS
    5.12 REGULATORY LANDSCAPE
           5.12.1 SAFETY INTEGRITY LEVEL (SIL)
                    TABLE 7 SIL AND RELATED MEASURES
           5.12.2 IEC 61508
           5.12.3 IEC 61511
                    TABLE 8 DIFFERENCE BETWEEN IEC 61508 AND IEC 61511 STANDARDS

6 HIPPS MARKET, BY OFFERING (Page No. - 59)
    6.1 INTRODUCTION
           FIGURE 28 COMPONENT TO BE LEADING SEGMENT IN HIPPS MARKET IN 2027
           TABLE 9 HIPPS MARKET, BY OFFERING, 2018–2021 (USD MILLION)
           TABLE 10 HIPPS MARKET, BY OFFERING, 2022–2027 (USD MILLION)
    6.2 COMPONENTS
           TABLE 11 HIPPS MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
           TABLE 12 HIPPS MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
           TABLE 13 HIPPS MARKET FOR COMPONENT, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 14 HIPPS MARKET FOR COMPONENT, BY INDUSTRY, 2022–2027 (USD MILLION)
           6.2.1 FILED INITIATORS
                    6.2.1.1 Pressure transmitters function as field initiators for HIPPS
           6.2.2 LOGIC SOLVER
                    6.2.2.1 Solid-state logic solver
                               6.2.2.1.1 Solid-state logic solver is highly preferred in many applications
                    6.2.2.2 Other
                               TABLE 15 HIPPS MARKET, BY LOGIC SOLVER TYPE, 2018–2021 (USD MILLION)
                               TABLE 16 HIPPS MARKET, BY LOGIC SOLVER TYPE, 2022–2027 (USD MILLION)
           6.2.3 FINAL CONTROL ELEMENT
                    6.2.3.1 Valves
                               6.2.3.1.1 Valve is major part of HIPPS
                    6.2.3.2 Actuators
                               6.2.3.2.1 Actuators enable closing and opening functions for valves
           6.2.4 OTHER COMPONENTS
    6.3 SERVICES
           TABLE 17 HIPPS MARKET, BY SERVICE, 2018–2021 (USD MILLION)
           TABLE 18 HIPPS MARKET, BY SERVICE, 2022–2027 (USD MILLION)
           TABLE 19 HIPPS MARKET FOR SERVICE, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 20 HIPPS MARKET FOR SERVICE, BY INDUSTRY, 2022–2027 (USD MILLION)
           6.3.1 TESTING, INSPECTION, AND CERTIFICATION (TIC)
                    6.3.1.1 End users rely on testing, inspection, and certification services for examining quality of HIPPS before implementation
           6.3.2 MAINTENANCE
                    6.3.2.1 Regular maintenance ensures efficient functionality of HIPPS over long period
           6.3.3 TRAINING AND CONSULTATION
                    6.3.3.1 Consulting services help to offer customized systems based on requirement

7 HIPPS MARKET, BY TYPE (Page No. - 68)
    7.1 INTRODUCTION
           FIGURE 29 ELECTRONIC HIPPS SEGMENT ACCOUNTED FOR LARGER SHARE OF HIPPS MARKET IN 2021
           TABLE 21 KEY POINTS: MECHANICAL AND ELECTRONIC HIPPS
    7.2 ELECTRONIC HIPPS
           7.2.1 HIGH USE OF ELECTRONIC HIPPS IN INDUSTRIAL SAFETY APPLICATIONS
    7.3 MECHANICAL HIPPS
           7.3.1 GROWING USE OF MECHANICAL HIPPS IN EXTREME REMOTE APPLICATIONS

8 HIPPS MARKET, BY INDUSTRY (Page No. - 70)
    8.1 INTRODUCTION
           FIGURE 30 OIL & GAS TO BE LEADING SEGMENT IN HIPPS MARKET IN 2027
           TABLE 22 HIPPS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 23 HIPPS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
    8.2 OIL & GAS
           TABLE 24 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2018–2021 (USD MILLION)
           TABLE 25 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2022–2027 (USD MILLION)
           TABLE 26 HIPPS MARKET FOR OIL & GAS INDUSTRY IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)
           TABLE 27 HIPPS MARKET FOR OIL & GAS INDUSTRY IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
           TABLE 28 HIPPS MARKET FOR OIL & GAS INDUSTRY IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION)
           TABLE 29 HIPPS MARKET FOR OIL & GAS INDUSTRY IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)
           TABLE 30 HIPPS MARKET FOR OIL & GAS INDUSTRY IN MIDDLE EAST, BY COUNTRY, 2018–2021 (USD MILLION)
           TABLE 31 HIPPS MARKET FOR OIL & GAS INDUSTRY IN MIDDLE EAST, BY COUNTRY, 2022–2027 (USD MILLION)
           TABLE 32 HIPPS MARKET FOR OIL & GAS INDUSTRY IN APAC, BY COUNTRY, 2018–2021 (USD MILLION)
           TABLE 33 HIPPS MARKET FOR OIL & GAS INDUSTRY IN APAC, BY COUNTRY, 2022–2027 (USD MILLION)
           TABLE 34 HIPPS MARKET FOR OIL & GAS INDUSTRY IN ROW, BY REGION, 2018–2021 (USD MILLION)
           TABLE 35 HIPPS MARKET FOR OIL & GAS INDUSTRY IN ROW, BY REGION, 2022–2027 (USD MILLION)
           TABLE 36 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY OFFERING, 2018–2021 (USD MILLION)
           TABLE 37 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY OFFERING, 2022–2027 (USD MILLION)
           TABLE 38 TYPICAL APPLICATIONS OF HIPPS IN UPSTREAM, MIDSTREAM, AND DOWNSTREAM SECTORS
           TABLE 39 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY STREAM TYPE, 2018–2021 (USD MILLION)
           TABLE 40 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY STREAM TYPE, 2022–2027 (USD MILLION)
           8.2.1 UPSTREAM
                    8.2.1.1 Upstream sector held largest size of HIPPS market for oil & gas industry in 2021
           8.2.2 MIDSTREAM
                    8.2.2.1 Increasing number of oil and gas pipelines to fuel demand for HIPPS in midstream sector
           8.2.3 DOWNSTREAM
                    8.2.3.1 Increasing demand for HIPPS from LNG regasification plants in downstream sector to drive market growth
    8.3 CHEMICAL
           8.3.1 STRINGENT REGULATIONS AND STANDARDS TO FUEL DEMAND FOR HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM (HIPPS) IN CHEMICAL INDUSTRY
                    TABLE 41 HIPPS MARKET FOR CHEMICAL INDUSTRY, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 42 HIPPS MARKET FOR CHEMICAL INDUSTRY, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 43 HIPPS MARKET FOR CHEMICAL INDUSTRY IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)
                    TABLE 44 HIPPS MARKET FOR CHEMICAL INDUSTRY IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
                    TABLE 45 HIPPS MARKET FOR CHEMICAL INDUSTRY IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION)
                    TABLE 46 HIPPS MARKET FOR CHEMICAL INDUSTRY IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)
                    TABLE 47 HIPPS MARKET FOR CHEMICAL INDUSTRY IN MIDDLE EAST, BY COUNTRY, 2018–2021 (USD MILLION)
                    TABLE 48 HIPPS MARKET FOR CHEMICAL INDUSTRY IN MIDDLE EAST, BY COUNTRY, 2022–2027 (USD MILLION)
                    TABLE 49 HIPPS MARKET FOR CHEMICAL INDUSTRY IN APAC, BY COUNTRY, 2018–2021 (USD MILLION)
                    TABLE 50 HIPPS MARKET FOR CHEMICAL INDUSTRY IN APAC, BY COUNTRY, 2022–2027 (USD MILLION)
                    TABLE 51 HIPPS MARKET FOR CHEMICAL INDUSTRY IN ROW, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 52 HIPPS MARKET FOR CHEMICAL INDUSTRY IN ROW, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 53 HIPPS MARKET FOR CHEMICAL INDUSTRY, BY OFFERING, 2018–2021 (USD MILLION)
                    TABLE 54 HIPPS MARKET FOR CHEMICAL INDUSTRY, BY OFFERING, 2022–2027 (USD MILLION)

9 GEOGRAPHIC ANALYSIS (Page No. - 84)
    9.1 INTRODUCTION
           FIGURE 31 HIPPS MARKET: GEOGRAPHIC SNAPSHOT
           TABLE 55 HIPPS MARKET, BY REGION, 2018–2021 (USD MILLION)
           TABLE 56 HIPPS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.2 NORTH AMERICA
           FIGURE 32 SNAPSHOT OF HIPPS MARKET IN NORTH AMERICA
           TABLE 57 HIPPS MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)
           TABLE 58 HIPPS MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
           TABLE 59 HIPPS MARKET IN NORTH AMERICA, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 60 HIPPS MARKET IN NORTH AMERICA, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.2.1 US
                    9.2.1.1 US to hold largest share of North American market during forecast period
                               TABLE 61 HIPPS MARKET IN US, BY INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 62 HIPPS MARKET IN US, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.2.2 CANADA
                    9.2.2.1 Expansion of pipeline networks for gas transportation to boost Canadian market growth during forecast period
                               TABLE 63 HIPPS MARKET IN CANADA, BY INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 64 HIPPS MARKET IN CANADA, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.2.3 MEXICO
                    9.2.3.1 Mexico to witness moderate growth in HIPPS market during forecast period
                               TABLE 65 HIPPS MARKET IN MEXICO, BY INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 66 HIPPS MARKET IN MEXICO, BY INDUSTRY, 2022–2027 (USD MILLION)
    9.3 EUROPE
           FIGURE 33 SNAPSHOT OF HIPPS MARKET IN EUROPE
           TABLE 67 HIPPS MARKET IN EUROPE, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 68 HIPPS MARKET IN EUROPE, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.3.1 RUSSIA
                    9.3.1.1 Planned investments in oil & gas industry to boost Russian market growth
           9.3.2 NORWAY
                    9.3.2.1 Increasing oil and gas subsea exploration activities to boost market growth in Norway
           9.3.3 UK
                    9.3.3.1 UK to be major market for HIPPS in Europe
           9.3.4 REST OF EUROPE
    9.4 MIDDLE EAST
           TABLE 69 HIPPS MARKET IN MIDDLE EAST, BY COUNTRY, 2018–2021 (USD MILLION)
           TABLE 70 HIPPS MARKET IN MIDDLE EAST, BY COUNTRY, 2022–2027 (USD MILLION)
           TABLE 71 HIPPS MARKET IN MIDDLE EAST, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 72 HIPPS MARKET IN MIDDLE EAST, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.4.1 SAUDI ARABIA
                    9.4.1.1 High oil & gas production is driving market growth in Saudi Arabia
                               TABLE 73 HIPPS MARKET IN SAUDI ARABIA, BY INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 74 HIPPS MARKET IN SAUDI ARABIA, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.4.2 UAE
                    9.4.2.1 Growing adoption of automation technologies in oil & gas production to drive growth of UAE HIPPS market
                               TABLE 75 HIPPS MARKET IN UAE, BY INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 76 HIPPS MARKET IN UAE, BY INDUSTRY, 2022–2027 (USD MILLION)
    9.5 ASIA PACIFIC
           FIGURE 34 SNAPSHOT OF HIPPS MARKET IN APAC
           TABLE 77 HIPPS MARKET IN APAC, BY COUNTRY, 2018–2020 (USD MILLION)
           TABLE 78 HIPPS MARKET IN APAC, BY COUNTRY, 2022–2027 (USD MILLION)
           TABLE 79 HIPPS MARKET IN APAC, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 80 HIPPS MARKET IN APAC, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.5.1 CHINA
                    9.5.1.1 Growing demand for HIPPS in oil & gas and chemical industries to fuel market growth in China
                               TABLE 81 HIPPS MARKET IN CHINA, BY INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 82 HIPPS MARKET IN CHINA, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.5.2 INDIA
                    9.5.2.1 HIPPS market in India to grow at fastest CAGR during forecast period
                               TABLE 83 HIPPS MARKET IN INDIA, BY END-USER INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 84 HIPPS MARKET IN INDIA, BY END-USER INDUSTRY, 2022–2027 (USD MILLION)
           9.5.3 REST OF APAC
    9.6 REST OF THE WORLD (ROW)
           TABLE 85 HIPPS MARKET IN ROW, BY REGION, 2018–2021 (USD MILLION)
           TABLE 86 HIPPS MARKET IN ROW, BY REGION, 2022–2027 (USD MILLION)
           TABLE 87 HIPPS MARKET IN ROW, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 88 HIPPS MARKET IN ROW, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.6.1 AFRICA
                    9.6.1.1 Nigeria, Algeria, and Angola to be major contributors to growth of African HIPPS market
                               TABLE 89 HIPPS MARKET IN AFRICA, BY INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 90 HIPPS MARKET IN AFRICA, BY INDUSTRY, 2022–2027 (USD MILLION)
           9.6.2 SOUTH AMERICA
                    9.6.2.1 South America to hold small market share of RoW HIPPS market
                               TABLE 91 HIPPS MARKET IN SOUTH AMERICA, BY END-USER INDUSTRY, 2018–2021 (USD MILLION)
                               TABLE 92 HIPPS MARKET IN SOUTH AMERICA, BY END-USER INDUSTRY, 2022–2027 (USD MILLION)

10 COMPETITIVE LANDSCAPE (Page No. - 103)
     10.1 OVERVIEW
     10.2 TOP FIVE COMPANY REVENUE ANALYSIS
               FIGURE 35 HIPPS MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2016–2020
     10.3 MARKET SHARE ANALYSIS, 2021
               FIGURE 36 HIPPS MARKET SHARE ANALYSIS (2021)
     10.4 COMPETITIVE LEADERSHIP MAPPING
             10.4.1 STAR
             10.4.2 EMERGING LEADER
             10.4.3 PERVASIVE
             10.4.4 PARTICIPANT
                       FIGURE 37 HIPPS MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
     10.5 SMALL AND MEDIUM ENTERPRISES (SME) EVALUATION MATRIX, 2021
             10.5.1 PROGRESSIVE COMPANY
             10.5.2 RESPONSIVE COMPANY
             10.5.3 DYNAMIC COMPANY
             10.5.4 STARTING BLOCK
                       FIGURE 38 HIPPS MARKET (GLOBAL), SME EVALUATION QUADRANT, 2021
     10.6 HIPPS MARKET: PRODUCT FOOTPRINT
               TABLE 93 COMPANY FOOTPRINT
               TABLE 94 PRODUCT FOOTPRINT OF COMPANIES
               TABLE 95 INDUSTRY FOOTPRINT OF COMPANIES
               TABLE 96 REGIONAL FOOTPRINT OF COMPANIES
     10.7 HIPPS MARKET: SME MATRIX
               FIGURE 39 HIPPS MARKET: DETAILED LIST OF KEY SMES
               TABLE 97 HIPPS MARKET: DETAILED LIST OF KEY SMES
     10.8 COMPETITIVE SITUATIONS AND TRENDS
             10.8.1 HIPPS MARKET: PRODUCT LAUNCHES, 2019–2021

11 COMPANY PROFILES (Page No. - 115)
(Business Overview, Products Offered, Recent Developments, and MnM View)*
     11.1 KEY PLAYERS
             11.1.1 EMERSON ELECTRIC CO.
                       TABLE 98 EMERSON ELECTRIC CO.: BUSINESS OVERVIEW
                       FIGURE 40 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
                       TABLE 99 EMERSON ELECTRIC CO.: PRODUCT OFFERING
             11.1.2 YOKOGAWA ELECTRIC CORPORATION
                       TABLE 100 YOKOGAWA ELECTRIC CORPORATION: BUSINESS OVERVIEW
                       FIGURE 41 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT
                       TABLE 101 YOKOGAWA ELECTRIC CORPORATION: PRODUCT OFFERING
             11.1.3 HIMA
                       TABLE 102 HIMA: BUSINESS OVERVIEW
                       TABLE 103 HIMA: PRODUCT OFFERING
             11.1.4 SCHNEIDER ELECTRIC
                       TABLE 104 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
                       FIGURE 42 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
                       TABLE 105 SCHNEIDER ELECTRIC: PRODUCT OFFERING
             11.1.5 ROCKWELL AUTOMATION INC.
                       TABLE 106 ROCKWELL AUTOMATION: BUSINESS OVERVIEW
                       FIGURE 43 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
                       TABLE 107 ROCKWELL AUTOMATION: PRODUCT OFFERINGS
             11.1.6 ABB
                       TABLE 108 ABB: BUSINESS OVERVIEW
                       FIGURE 44 ABB: COMPANY SNAPSHOT
                       TABLE 109 ABB: PRODUCT OFFERING
             11.1.7 SCHLUMBERGER
                       TABLE 110 SCHLUMBERGER: BUSINESS OVERVIEW
                       FIGURE 45 SCHLUMBERGER: COMPANY SNAPSHOT
                       TABLE 111 SCHLUMBERGER: PRODUCT OFFERING
             11.1.8 SIEMENS AG
                       TABLE 112 SIEMENS AG: BUSINESS OVERVIEW
                       FIGURE 46 SIEMENS AG: COMPANY SNAPSHOT
                       TABLE 113 SIEMENS AG: PRODUCT OFFERING
             11.1.9 HONEYWELL INTERNATIONAL INC
                       TABLE 114 HONEYWELL INTERNATIONAL INC: BUSINESS OVERVIEW
                       FIGURE 47 HONEYWELL INTERNATIONAL INC: COMPANY SNAPSHOT
                       TABLE 115 HONEYWELL INTERNATIONAL INC: PRODUCT OFFERING
             11.1.10 BAKER HUGHES
                       TABLE 116 GENERAL ELECTRIC: BUSINESS OVERVIEW
                       FIGURE 48 BAKER HUGHES: COMPANY SNAPSHOT
                       TABLE 117 GENERAL ELECTRIC: PRODUCT OFFERINGS
* Business Overview, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.
     11.2 OTHER PLAYERS
             11.2.1 MOKVELD
                       TABLE 118 MOKVELD: COMPANY OVERVIEW
             11.2.2 VELAN INC
                       TABLE 119 VELAN INC: COMPANY OVERVIEW
             11.2.3 IMI PLC
                       TABLE 120 IMI PLC: COMPANY OVERVIEW
             11.2.4 SEVERN GLOCON GROUP
                       TABLE 121 SEVERN GLOCON GROUP: COMPANY OVERVIEW
             11.2.5 LARSEN & TOUBRO
                       TABLE 122 LARSEN & TOUBRO: COMPANY OVERVIEW
             11.2.6 SAMSON GROUP
                       TABLE 123 SAMSON GROUP: COMPANY OVERVIEW
             11.2.7 MOGAS IND
                       TABLE 124 MOGAS IND: COMPANY OVERVIEW
             11.2.8 PALADON SYSTEMS
                       TABLE 125 PALADON SYSTEMS: COMPANY OVERVIEW
             11.2.9 PIETRO FIORENTINI S.P.A.
                       TABLE 126 PIERTO FIORENTINI: COMPANY OVERVIEW
             11.2.10 PETROLVALVES S.P.A
                       TABLE 127 PETROLVALVES S.P.A: COMPANY OVERVIEW
             11.2.11 BRITISH ENGINES
                       TABLE 128 BRITISH ENGINES: COMPANY OVERVIEW
             11.2.12 PROCONTROL
                       TABLE 129 PROCONTROL: COMPANY OVERVIEW
             11.2.13 VALVTECHNOLOGIES
                       TABLE 130 VALVTECNOLOGIES: COMPANY OVERVIEW
             11.2.14 FRAMES GROUP
                       TABLE 131 FRAMES GROUP: COMPANY OVERVIEW
             11.2.15 DAFRAM S.P.A.
                       TABLE 132 DAFRAM S.P.A.: COMPANY OVERVIEW

12 ADJACENT & RELATED MARKETS (Page No. - 150)
     12.1 INTRODUCTION
     12.2 LIMITATIONS
     12.3 INDUSTRIAL VALVES MARKET, BY FUNCTION
               TABLE 133 INDUSTRIAL VALVES MARKET, BY FUNCTION, 2017–2020 (USD BILLION)
               TABLE 134 INDUSTRIAL VALVES MARKET, BY FUNCTION, 2021–2026 (USD BILLION)
             12.3.1 ON/OFF VALVES
                       12.3.1.1 On/off valves accounted for larger market share in 2020
             12.3.2 CONTROL VALVES
                       12.3.2.1 Control valves to witness significant growth during forecast period

13 APPENDIX (Page No. - 153)
     13.1 DISCUSSION GUIDE
     13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     13.3 AVAILABLE CUSTOMIZATIONS
     13.4 RELATED REPORTS
     13.5 AUTHOR DETAILS

The study involved four major activities in estimating the size of the High-Integrity Pressure Protection System (HIPPS) market. Exhaustive secondary research has been carried out to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.

Secondary Research

In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the HIPPS market. Secondary sources considered for this research study include government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. Secondary data has been collected and analyzed to arrive at the overall market size, which has been further validated through primary research.

Secondary research has been mainly used to obtain key information about the supply chain of the HIPPS industry to identify the key players based on their products, as well as to identify the prevailing industry trends in the HIPPS market based on offering (components and services), industry, and region. It also includes information about the key developments undertaken from both markets- and technology-oriented perspectives.

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of the HIPPS market through secondary research. Several primary interviews have been conducted with key opinion leaders from both the demand and supply sides across four major regions: North America, Europe, APAC, Middle East, and RoW. Approximately 25% of the primary interviews have been conducted with the demand side, while 75% have been conducted with the supply side. This primary data has been collected mainly through telephonic interviews, which account for 80% of the total primary interviews. Questionnaires and e-mails have also been used to collect data.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

High-Integrity Pressure Protection System (HIPPS) Market  Size, and Share

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

Market Size Estimation

The bottom-up procedure has been employed to arrive at the overall size of the HIPPS market.

  • Identifying various companies that use or are expected to deploy HIPPS at their production lines and analyzing their deployment patterns
  • Estimating the size of the HIPPS market based on the demand for HIPPS in the oil & gas and chemical industries
  • Conducting primary interviews with a few major players operating in the HIPPS market for validating the global market size
  • Validating the market size through secondary sources, including company websites, press releases, research journals, and magazines
  • Calculating the CAGR of the HIPPS market through historical and future market trend analyses by understanding the penetration rate of HIPPS and its demand and supply scenario in different industries
  • Verifying the estimates at every level through discussions with key opinion leaders such as corporate executives, directors, and sales heads, as well as with the domain experts at MarketsandMarkets
  • Studying various paid and unpaid information sources such as annual reports, press releases, white papers, and databases

High-Integrity Pressure Protection System (HIPPS) Market  Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

The top-down approach has been used to estimate and validate the total size of the HIPPS market.

  • Information related to revenues obtained from key manufacturers and providers of HIPPS and components of HIPPS was studied and analyzed to estimate the global size of the HIPPS market.
  • Revenues, geographic presence, key industries served, as well as different types of offerings of all identified players in the HIPPS market, were studied to estimate and arrive at the percentage split of the different segments of the market.
  • All major players in each category (type and component) of the HIPPS market were identified through secondary research and verified through brief discussions with industry experts.
  • Multiple discussions were conducted with key opinion leaders of all major companies involved in the development of HIPPS and its components to validate the market split based on offering, industry, and region.
  • Geographic splits were estimated using secondary sources based on various factors, such as the number of players offering HIPPS in a specific country or region and the components offered by these players.

High-Integrity Pressure Protection System (HIPPS) Market  Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides in the HIPPS market.

Report Objectives

  • To describe and forecast the HIPPS market, in terms of value, based on type, offering, industry, and region
  • To forecast the market size, in terms of value, based on 5 regions—North America, Europe, Asia Pacific (APAC), Middle East, and Rest of the World (RoW)
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To provide a detailed overview of the value chain of the HIPPS ecosystem
  • To strategically analyze micromarkets1 with regard to individual growth trends, prospects, and contributions to the HIPPS market
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies2, along with a detailed competitive landscape for the market leaders
  • To analyze the major growth strategies such as contracts, agreements, acquisitions, product launches, and expansions adopted by the key market players to boost their positions in the HIPPS market

Available Customizations:

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

Company Information:

  • Detailed analysis and profiling of additional market players based on various blocks of the value chain.
High-Integrity Pressure Protection System (HIPPS) Market Size,  Share & Growth Report
Report Code
SE 4646
Published ON
Jan, 2022
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