According to the Market Statsville Group (MSG), the global high-integrity pressure protection system (HIPPS) Market size is expected to grow from USD 454.1 million in 2021 to USD 807.1 million by 2030, at a CAGR of 6.6% from 2022 to 2030.

 A high-integrity pressure protection system (HIPPS) is a safety instrumented system that prevents overpressure generated during hazardous processes, primarily in oil and gas plants, by shutting down the source and capturing the pressure in the system's upstream side. Process industries employ a safety mechanism to stop loss of containment if a pipeline or vessel ruptures due to overpressure. Relief systems can be used to handle overpressure; however, releasing flammable, explosive, hazardous, or toxic process fluids into the environment may negatively impact humans and the environment. The growing need to reduce flaring to protect the environment and governments imposing stringent regulatory norms for safety and security at manufacturing plants are driving the market growth. The high installation cost of HIPPS is expected to be the primary impediment to HIPPS market growth.

Global High-Integrity Pressure Protection System (HIPPS) Market Dynamics

Drivers: To Protect The Environment, there is a Growing Need to Reduce Gas Flaring and Venting

During scheduled maintenance, equipment repair, or shutdown events, gas flaring occurs at oil and gas production sites. The technique allows for the controlled release of pressure from gas collection and processing systems. As a result, it is used in industrial plants to maintain pressures and ensure safe and efficient operations. However, gas flaring is now one of the major concerns in process industries because it wastes valuable natural resources and emits a large amount of carbon dioxide, sulphur dioxide, and nitrous oxide gases that harm the environment.

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Similarly, gas venting is used to ensure safety at various stages of the treatment process. Unburned gases (impure gases) are released into the atmosphere during this procedure, which can harm human health. Oil and gas producers use floating liquefied natural gas (FLNG) vessels for zero hydrocarbon gas flaring under normal operating conditions to address the problems related to gas flaring. Furthermore, the HIPPS is installed at the FLNG gas inlet to shut down the gas flow during over-pressurization events, reducing the need for flaring. HIPPS is a trustworthy safety instrumented system (SIS) that prevents catastrophic over-pressurization and the release of toxic, explosive, and flammable chemicals.

Restraints: The High Installation Cost of a High-Integrity Pressure Protection System (HIPPS)

The HIPPS is a collection of safety products that includes pressure transmitters, logic solvers, field initiators, and final elements—valves and actuators. It is installed as a precautionary measure to protect employees, machines, and production lines in an emergency. However, HIPPS components, installation, maintenance, and repair costs place a significant strain on organizations' budgets. Although large organizations can manage these costs, medium- and small-sized businesses may struggle. Furthermore, HIPPSs must adhere to regulatory standards that are frequently updated in response to technological advancements and new mandates, necessitating the need for organizations to upgrade their safety systems. This necessitates increased investment in the deployment of safety components and systems, which hinder the market’s growth over the forecast period.

 

Scope of the Global High-Integrity Pressure Protection System (HIPPS) Market

The study categorizes the high-integrity pressure protection system (HIPPS) market based on type, components, services, and end-user industry at the regional and global levels.

By Components Outlook (Sales, USD Million, 2017-2030)

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

By Types Outlook (Sales, USD Million, 2017-2030)

  • Electronic HIPPS
  • Mechanical HIPPS

By Services Outlook (Sales, USD Million, 2017-2030)

  • Testing, Inspection and Certification
  • Maintenance
  • Training and Consultation

By End-user industry Outlook (Sales, USD Million, 2017-2030)

  • Oil & Gas
  • Chemicals

By Region Outlook (Sales, USD Million, 2017-2030)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • The Netherlands
    • Norway
    • Czech Republic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia & New Zealand
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Northern Africa
    • Rest of MEA

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Oil and gas industry segment is projected to account for the largest market share by end-user industry

Based on the end-user industry, the global high-integrity pressure protection system (hipps) market is divided into oil & gas and chemicals. Because of the growing transportation sector, rising energy demand, and increased drilling activities in Gulf Cooperation Council (GCC) countries, the oil and gas industry will account for the largest share of the HIPPS market in 2021. The decline in oil prices and production activities caused by the COVID-19 pandemic, the oil and gas industry's growth in 2020 was hampered. However, by the end of 2020, the major oil companies had resumed oil exploration and drilling operations. Oil extraction and offshore drilling rig operations can be extremely dangerous. Demand for HIPPS is expected to rise significantly between the forecasted period as new projects are launched and oil extraction activities in several countries are expanded.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global high-integrity pressure protection system (HIPPS) market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to be the most profitable market with the highest CAGR during the forecast period due to the increasing number of oil and gas refineries and significant chemical industry growth. Asia Pacific has a high potential for HIPPS installation in the oil and gas, chemicals, and power generation industries. Rising petrochemical demand from countries such as China and India boosts oil, gas, and chemical production. The oil and gas sector is projected to experience a rise in demand for HIPPS due to the growing number of greenfield projects planned in nations like India and China.

Competitive Landscape - Global High-Integrity Pressure Protection System (HIPPS) Market

The global high-integrity pressure protection system (HIPPS) market is highly competitive, with key industry players adopting strategies such as partnerships, product development, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players in the global high-integrity pressure protection system (HIPPS) market are:

  • Schneider Electric SE
  • Rockwell Automation
  • ABB Ltd
  • Emerson Electric Company
  • Schlumberger Limited
  • General Electric Company
  • Siemens AG
  • Honeywell
  • Yokogawa Electric
  • Hima
  • Mokveld Valves

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