High Integrity Pressure Protection System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Electronics HIPPS and Hydraulic/Mechanical HIPPS), By Offering (Component and Services), By Industry (Oil & Gas, Power Generation, Chemical and Others), By Region

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Summary

Report Description

Global high integrity pressure protection system market is expected to grow at a robust pace in the forecast period 2024-2028 owing to the increasing requirement to reduce flaring to protect the environment and the installation by governments of strict regulatory standards to maintain safety and security at manufacturing facilities. due to the growing demand for trustworthy and high-quality systems. Moreover, rising investments are being made for the technological advancements for making operations safer and more effective along with being less expensive. The continual rise in production rates brought on by cutting-edge technologies like automation, robotics, and artificial intelligence is what is driving demand for these systems.

High Integrity Protection Systems (HIPPS) are specialized safety systems that serve as the final line of defense in high-risk and life-or-death circumstances. The HIPPS, which is completely autonomous, continuously monitors safety parameters to protect the process, the plant's machinery, and the surrounding environment. The HIPPS automatically closes safety valves to bring the system to a safe state if gas pressure rises too high. A HIPPS logically combines measured values to assess whether process intervention is necessary while continuously monitoring process parameters.

Growing need for gas flaring and venting to protect environment is driving the High Integrity Pressure Protection System Market

At oil and gas production facilities, gas flaring typically takes place during scheduled maintenance, equipment repairs, or shutdown occasions. The method enables the gas collection and processing systems to release pressure under control. In order to maintain pressures and guarantee secure and effective operations in industrial plants, it is utilized. However, due to the burning of rich natural resources and the significant amounts of carbon dioxide, Sulphur dioxide, and nitrous oxide gases that are produced—all of which have a negative impact on the environment—gas flaring has recently grown to be one of the primary concerns in the process industries. Similar to this, gas venting is also done to preserve safety throughout various treatment stages. Unburnt gases (impure gases) are emitted during this process, which could be harmful to human health. Oil and gas producers use Floating Liquefied Natural Gas (FLNG) vessels for zero hydrocarbon gas flaring under normal operating conditions to combat the problems related to gas flaring and venting. Additionally, the HIPPS is set up at the FLNG gas input to stop the flow of gas during over pressurization situations, minimizing the need for flaring. A trustworthy safety instrumented system (SIS) called HIPPS is used to stop hazardous, explosive, and flammable chemical releases and catastrophic over pressurization.

Rise in Midstream Infrastructure is expected to drive the growth of Global High Integrity Pressure Protection System Market

In the midstream industry, production flowlines from the wellhead to offshore storage facilities and to end-user processing plants are frequently constructed to withstand high wellhead shut-in pressures, even though the pressure in the flowline is significantly lower during normal operating conditions. Including this pressure buffer in the system can be expensive and jeopardize its viability from an economic standpoint. HIPPS gets around this issue by reducing pipeline pressure. As soon as a predetermined level is reached beyond, it immediately closes the pipeline. To do this, a choke system is used, with valves that close if the pressure rises, to monitor a constant pressure decline. Various safety circumstances can be detected by HIPPS's control systems and valves.

Introduction of a Safety Programmable Logic Controller (PLC) is expected to boost the Global High-Integrity Pressure Protection System (HIPPS) Market

Overpressure protection is provided by swiftly isolating the source of the overpressure. The final component, a logic solver, and initiators make up the whole HIPPS package. Field sensors that serve as the inputs needed to detect the dangerous condition are the initiators. These inputs are processed by the logic solver, which produces accurate outputs that modify the final elements' states to lessen the danger. According to the International Electrotechnical Commission (IEC) standards, logic solvers must be knowledgeable about the strategies and precautions that should be used to guard against the introduction of systematic flaws into the safety system's hardware and software. The use of a safety-configured PLC in SIL 2 and SIL 3 applications is allowed by IEC 61511. The specifications listed for a safety-configured PLC are above and above the capabilities of a typical PLC. Standard industrial-grade PLCs might not be able to meet these standards. Safety PLC's software is also designed to contain a variety of error detection and monitoring tools to make sure the safety modules are functioning properly. 

High installation cost associated with high-integrity pressure protection system is expected to hinder the growth of Global High Integrity Pressure Protection System Market

A variety of safety devices, including pressure transmitters, logic solvers, field initiators, and final elements—valves and actuators—are combined to form the HIPPS. It is put in place as a safety precaution to protect workers, equipment, and manufacturing lines in an emergency. The installation, maintenance, and repair costs for HIPPS components, however, place a heavy financial burden on organizations. Although large organizations can handle these costs, medium- and small-sized organizations may find it challenging. Additionally, organizations must update their safety systems since HIPPSs must adhere to regulatory standards that are periodically revised in response to new regulations and technological improvements. For the deployment of safety systems and components, more money is needed.

Latest developments

  • The ASCO Series 158 Gas Valve and Series 159 Motorised Actuator were released by Emerson in 2020. The new products provide OEMs, distributors, contractors, and end-users with a novel combustion safety shutdown valve option that improves flow and control while enhancing safety and dependability specifically for burner-boiler applications. In the case of a fuel train system failure, the new valve, which has a higher close-off pressure of 75 psi (5.2 Bar), assures a safe shutoff and does away with the need for additional safety components. The flow rate of the valve is twice as high as that of comparable combustion valves on the market. As a result, it has the highest BTU rating in the market and can handle a range of gas inlet pressures without affecting burner operation or performance. End connectors that do away with the requirement for piping unions and a ventless compatible monoblock design that not only eliminates the need for additional vent piping but also reduces greenhouse gas and vent emissions simplify installation.
  • Exaquantum Safety Function Monitoring (SFM) software, an OpreXTM Asset Operations and Optimization solution that aids in determining whether actual operating performance fulfils safety design criteria, is getting a significant upgrade from Yokogawa Electric Corporation in 2021. To identify inconsistencies or problems in the performance of plant safety systems, SFM R3.35 offers continuous monitoring and review of safety data. SFM gathers all safety-related data, including information on independent protection layers (IPLs), starting causes, and overrides, as well as SIF activations and maintenance (proof testing), in order to monitor and analyze important performance indicators. This updated version supports the International Electrotechnical Commission (IEC) 61511* standard and comes with a number of additional features to assist SFM users in identifying possible safety hazards, streamlining maintenance tasks, and enhancing the design of safety solutions as a whole.


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Market Segmentation

The Global High Integrity Pressure Protection System Market is segmented based on type, offering, industry and region. Based on type, the market is bifurcated into electronics HIPPS and hydraulic/mechanical HIPPS. Based on offering, the market is bifurcated into component and services. Based on industry, the market is bifurcated into oil & gas, power generation, chemical and others. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

Market players

The main market players in the Global High Integrity Pressure Protection System Market are Rockwell Automation Inc., Emerson Electric Co., Schneider Electric SE, ABB Ltd, Siemens AG, Schlumberger NV, L&T Valves Limited, Mogas Industries Inc., Honeywell International, Inc., Yokogawa Electric Corporation.

Attribute

Details

Base Year

2022

Historic Data

2018– 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments Covered

Type

Offering

Industry  

Region  

Regional scope

North America, Asia-Pacific, Europe, South America, Middle East & Africa

Country scope

United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Italy, Spain, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE

Key companies profiled

Rockwell Automation Inc., Emerson Electric Co., Schneider Electric SE, ABB Ltd, Siemens AG, Schlumberger NV, L&T Valves Limited, Mogas Industries Inc., Honeywell International, Inc., Yokogawa Electric Corporation

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Global High Integrity Pressure Protection System Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • High Integrity Pressure Protection System Market, By Type:

o   Electronics HIPPS

o   Hydraulic/Mechanical HIPPS

  • High Integrity Pressure Protection System Market, By Offering:

o   Component

o   Services   

  • High Integrity Pressure Protection System Market, By Industry:

o   Oil & Gas

o   Power Generation

o   Chemical

o   Others

  • High Integrity Pressure Protection System Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  India

§  Japan

§  South Korea

§  Australia

§  China

o   Europe

§  Germany

§  United Kingdom

§  France

§  Italy

§  Spain

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East

§  Saudi Arabia

§  South Africa

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global High Integrity Pressure Protection System Market.

Available Customizations:

Global High Integrity Pressure Protection System Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to ten).

The Global High Integrity Pressure Protection System Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Baseline Methodology

2.2.  Key Industry Partners

2.3.  Major Association and Secondary Sources

2.4.  Forecasting Methodology

2.5.  Data Triangulation & Validation

2.6.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global High Integrity Pressure Protection System Market

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Type (Electronics HIPPS and Hydraulic/Mechanical HIPPS)

5.2.2.    By Offering (Component and Services)

5.2.3.    By Industry (Oil & Gas, Power Generation, Chemical and Others)

5.2.4.    By Region

5.3.  By Company (2022)

5.4.  Market Map

6.    North America High Integrity Pressure Protection System Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type

6.2.2.    By Offering

6.2.3.    By Industry  

6.2.4.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States High Integrity Pressure Protection System Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.            By Value 

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.            By Type

6.3.1.2.2.            By Offering

6.3.1.2.3.            By Industry   

6.3.2.    Canada High Integrity Pressure Protection System Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.            By Value 

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.            By Type

6.3.2.2.2.            By Offering

6.3.2.2.3.            By Industry  

6.3.3.    Mexico High Integrity Pressure Protection System Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.            By Value 

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.            By Type

6.3.3.2.2.            By Offering

6.3.3.2.3.            By Industry  

7.    Asia-Pacific High Integrity Pressure Protection System Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By Offering

7.2.3.    By Industry  

7.2.4.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China High Integrity Pressure Protection System Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.            By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.            By Type

7.3.1.2.2.            By Offering

7.3.1.2.3.            By Industry  

7.3.2.    India High Integrity Pressure Protection System Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.            By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.            By Type

7.3.2.2.2.            By Offering

7.3.2.2.3.            By Industry  

7.3.3.    Japan High Integrity Pressure Protection System Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.            By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.            By Type  

7.3.3.2.2.            By Offering

7.3.3.2.3.            By Industry  

7.3.4.    South Korea High Integrity Pressure Protection System Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.            By Value 

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.            By Type

7.3.4.2.2.            By Offering

7.3.4.2.3.            By Industry    

7.3.5.    Australia High Integrity Pressure Protection System Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.            By Value 

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.            By Type

7.3.5.2.2.            By Offering

7.3.5.2.3.            By Industry     

8.    Europe High Integrity Pressure Protection System Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type  

8.2.2.    By Offering

8.2.3.    By Industry   

8.2.4.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany High Integrity Pressure Protection System Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.            By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.            By Type

8.3.1.2.2.            By Offering

8.3.1.2.3.            By Industry    

8.3.2.    United Kingdom High Integrity Pressure Protection System Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.            By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.            By Type

8.3.2.2.2.            By Offering

8.3.2.2.3.            By Industry     

8.3.3.    France High Integrity Pressure Protection System Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.            By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.            By Type

8.3.3.2.2.            By Offering

8.3.3.2.3.            By Industry   

8.3.4.    Spain High Integrity Pressure Protection System Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.            By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.            By Type  

8.3.4.2.2.            By Offering

8.3.4.2.3.            By Industry     

8.3.5.    Italy High Integrity Pressure Protection System Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.            By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.            By Type

8.3.5.2.2.            By Offering

8.3.5.2.3.            By Industry 

9.    South America High Integrity Pressure Protection System Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type  

9.2.2.    By Offering

9.2.3.    By Industry   

9.2.4.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil High Integrity Pressure Protection System Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.            By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.            By Type

9.3.1.2.2.            By Offering

9.3.1.2.3.            By Industry       

9.3.2.    Argentina High Integrity Pressure Protection System Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.            By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.            By Type

9.3.2.2.2.            By Offering

9.3.2.2.3.            By Industry      

9.3.3.    Colombia High Integrity Pressure Protection System Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.            By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.            By Type

9.3.3.2.2.            By Offering

9.3.3.2.3.            By Industry    

10.  Middle East & Africa High Integrity Pressure Protection System Market Outlook

10.1.   Market Size & Forecast

10.1.1. By Value

10.2.   Market Share & Forecast

10.2.1. By Type

10.2.2. By Offering

10.2.3. By Industry   

10.2.4. By Country

10.3.   Middle East & Africa: Country Analysis

10.3.1.             Saudi Arabia High Integrity Pressure Protection System Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Type

10.3.1.2.2.         By Offering

10.3.1.2.3.         By Industry      

10.3.2.             South Africa High Integrity Pressure Protection System Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Type  

10.3.2.2.2.         By Offering

10.3.2.2.3.         By Industry        

10.3.3.             UAE High Integrity Pressure Protection System Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Type

10.3.3.2.2.         By Offering

10.3.3.2.3.         By Industry 

11.  Market Dynamics

11.1.   Drivers

11.2.   Challenges

12.  Market Trends & Developments

13.  Company Profiles

13.1.   Rockwell Automation Inc.

13.1.1.             Business Overview

13.1.2.             Key Revenue and Financials  

13.1.3.             Recent Developments

13.1.4.             Key Personnel

13.1.5.             Key Product/Services Offered

13.2.   Emerson Electric Co.

13.2.1.             Business Overview

13.2.2.             Key Revenue and Financials  

13.2.3.             Recent Developments

13.2.4.             Key Personnel

13.2.5.             Key Product/Services Offered

13.3.   Schneider Electric SE

13.3.1.             Business Overview

13.3.2.             Key Revenue and Financials  

13.3.3.             Recent Developments

13.3.4.             Key Personnel

13.3.5.             Key Product/Services Offered

13.4.   ABB Ltd

13.4.1.             Business Overview

13.4.2.             Key Revenue and Financials  

13.4.3.             Recent Developments

13.4.4.             Key Personnel

13.4.5.             Key Product/Services Offered

13.5.   Siemens AG  

13.5.1.             Business Overview

13.5.2.             Key Revenue and Financials  

13.5.3.             Recent Developments

13.5.4.             Key Personnel

13.5.5.             Key Product/Services Offered

13.6.   Schlumberger NV

13.6.1.             Business Overview

13.6.2.             Key Revenue and Financials  

13.6.3.             Recent Developments

13.6.4.             Key Personnel

13.6.5.             Key Product/Services Offered

13.7.   L&T Valves Limited

13.7.1.             Business Overview

13.7.2.             Key Revenue and Financials  

13.7.3.             Recent Developments

13.7.4.             Key Personnel

13.7.5.             Key Product/Services Offered

13.8.   Mogas Industries Inc.

13.8.1.              Business Overview

13.8.2.             Key Revenue and Financials  

13.8.3.             Recent Developments

13.8.4.             Key Personnel

13.8.5.             Key Product/Services Offered

13.9.   Honeywell International, Inc.

13.9.1.             Business Overview

13.9.2.             Key Revenue and Financials  

13.9.3.             Recent Developments

13.9.4.             Key Personnel

13.9.5.             Key Product/Services Offered

13.10. Yokogawa Electric Corporation

13.10.1.           Business Overview

13.10.2.           Key Revenue and Financials  

13.10.3.           Recent Developments

13.10.4.           Key Personnel

13.10.5.           Key Product/Services Offered

14.  Strategic Recommendations

15.  About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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A Safety Integrity Level (SIL) is used to classify HIPPS as a Safety Instrumented System (SIS). High Integrity Pressure Protection System adheres to a minimum SIL 3 rating where the Average Probability of Failure on Demand is in the range of >=10-4 to 10-3.

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High installation cost associated with high-integrity pressure protection system is causing hindrance to the growth of Global High Integrity Pressure Protection System Market.

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Asia Pacific region dominated the Global High Integrity Pressure Protection System Market in 2022 and is also expected to do so during the forecast period due to the region's focus on building capacity for oil and gas refining and significant expansion in the chemicals industry.

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Major market players are Rockwell Automation Inc., Emerson Electric Co., Schneider Electric SE, ABB Ltd, Siemens AG, Schlumberger NV, L&T Valves Limited, Mogas Industries Inc., Honeywell International, Inc., Yokogawa Electric Corporation.

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Global High Integrity Pressure Protection System Market is expected to grow owing to stringent government laws and regulations as well as the requirement for a dependable safety system throughout the

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