High-Integrity Pressure Protection System (HIPPS) Market – Forecast, 2020-2027
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Key Drivers of the High-Integrity
Pressure Protection System (HIPPS) Market:
The significant factors contributing to the
growth of the
High-Integrity Pressure Protection System market include the rising
government regulatory norms to confirm safety and security at manufacturing
plants, increasing emphasis of countries on contributing to gas flaring and
venting reduction programs, and the growing need for dependable safety
solutions for workers. The decreasing cost and weight of the downstream vessel is
positively influencing the growth of the market.
The rising capacity of adopting flowline
applications has further boosted the usage of HIPPS in several industries,
especially oil & gas. The utilization of HIPPS helps in reducing the costs,
along with transportation and storage due to a reduction in volume and weight,
which in turn, will grow the overall demand for high-integrity pressure
protection systems across the world. Furthermore, the increasing exploration
and production activities in the oil & gas industry is further propelling
the growth of the High-Integrity
Pressure Protection System (HIPPS) market size in the upcoming years. On
the other hand, the lack of awareness and high installation costs of
high-integrity pressure protection systems are hindering the growth of the
market.
List of the Top Leading Players of the High-Integrity
Pressure Protection System (HIPPS) Market:
·
Emerson Electric Co.
·
Yokogawa Electric Corporation
·
Schneider Electric SE
·
HIMA GmbH
·
Rockwell Automation, Inc.
·
General Electric
·
ABB
·
Siemens AG
·
Schlumberger
·
Honeywell International Inc
·
Mokveld Valves B.V.
Segmentation
of the High-Integrity Pressure Protection System
(HIPPS) Market:
Breakup by
Offering:
·
Components
o
Field Initiators
o
Logic Solvers
o
Final Control Elements
§ Valves
§ Actuators
o
Others
·
Services
o
Testing, Inspection, and Certification
o
Maintenance
o
Training and Consulting
Breakup by
Industry:
·
Oil & Gas
o
Upstream
o
Midstream
o
Downstream
·
Chemicals
·
Power Generation
·
Food & Beverages
·
Pharmaceuticals
·
Water & Wastewater
·
Metals & Mining
·
Others
Breakup by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining
countries of the LAMEA region)
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Research
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