Global High-integrity pressure protection system (HIPPS) Market is valued approximately USD 486 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 8.90% over the forecast period 2020-2027. High integrity pressure protection strain safety system or HIPPS is a safety gadget designed for preventing over-pressurization of any plant. HIPPS is designed for a better process shutdown and emergency systems. High integrity pressure safety system prevents a system from exceeding the rated stress level. The HIPPS shuts down the supply of excessive stress of the system before the overall layout stress is surpassed. This helps in prevention of loss due to rupture of a line or vessel and consequently being used across distinctive industry verticals. Rise in industrial sector is driving the market growth over the forecast years. The market is expected to driver over the forecast years due to the global rise in industrial sector. For instance: On 5 March 2018, as per International energy agency (IEA), globally the demand of oil is growing with an average of 1.2 mb/d and reach to 104.7 mb/d till 2023 from 6.9 mb/d in 2018. Similarly, on 26 March 2019, as per the International Energy agency, the world gross electricity production was increased with 2.5% in 2017 compare to 2016. In addition, rising demand for reliable safety solutions for personnel and asset protection in high-pressure environment is the factor driving the growth of market over the forecast years. However, lack of awareness and perceived complexity associated with HIPPS are is hampering the growth of market.
The regional analysis of global High-integrity pressure protection system (HIPPS) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising demand for reliable safety solutions for personnel and asset protection in high-pressure environment. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapid growth in industrialization would create lucrative growth prospects for the High-integrity pressure protection system (HIPPS) Market across Asia-Pacific region.
Major market player included in this report are:
ABB
Emerson Electric Co.
Siemens
Schlumberger Limited
Schneider Electric
ATV HIPPS
Bel Valves Limited
Dafram S.P.A.
Frames
HIMA
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Electronics HIPPS
Hydraulic/mechanical HIPPS
By Offering:
Component
Services
By End-use industries:
Oil & gas
Power generation
Chemical
Water & wastewater
Food & Beverage
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027
Target Audience of the Global High-integrity pressure protection system (HIPPS) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
