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High-Integrity Pressure Protection System (HIPPS) Market by Component (Field Initiator, Logic Solver, Valve, Actuator), Service (Maintenance, Testing, Inspection, & Certification, Training & Consulting), Industry, and Region - Global Forecast to 2024

High-Integrity Pressure Protection System (HIPPS) Market by Component (Field Initiator, Logic Solver, Valve, Actuator), Service (Maintenance, Testing, Inspection, & Certification, Training & Consulting), Industry, and Region - Global Forecast to 2024

“HIPPS market to exhibit significant growth during 2019–2024”
The high-integrity pressure protection system (HIPPS) market size is estimated to grow from USD 486 million in 2019 to USD 724 million by 2024, at a CAGR of 8.3%. Key factors driving the demand for HIPPS include imposing government regulatory norms to ensure safety and security at manufacturing plants, increasing focus of countries across the world on participating in gas flaring and venting reduction programs, and rising demand for reliable safety solutions for personnel and asset protection in high-pressure environments. Lack of awareness and high installation cost of high-integrity pressure protection system are the key restraining factors for the HIPPS industry growth.

“Market for services to grow at the highest CAGR from 2019 to 2024”
Demand for services is likely to grow at a higher CAGR in the HIPPS market owing to the increasing adoption of these systems in greenfield projects. Maintenance services are expected to continue to hold the largest size of the HIPPS market based on service offerings, followed by testing, inspection, and certification (TIC) services.

Maintenance is a critical factor in the overall life cycle of HIPPS. After the installation of HIPPS, end-users have to maintain the SIF and SIL level throughout the life cycle of HIPPS. Preventive and corrective maintenance services are offered directly by the manufacturers and system integrators of HIPPS solutions. The market for TIC services is likely to register the highest CAGR in the HIPPS market. To improve the quality and reliability of components and configurations, HIPPS is inspected regularly for discontinuities, defects, or any other faults that might reduce its operational reliability, leading to failure.

“Market for chemicals industry to grow at highest CAGR during the forecast period”
Safety and reliability are critical factors for the chemicals industry. For reliable and accurate workflow in this industry, the functional safety of plants is necessary. The chemicals industry involves inherent risks due to the presence of dangerous materials such as gases and chemicals. Every year, several workers are injured, affected, or killed because of the exposure to harmful chemical substances. These incidents cause human suffering, loss of production, and high medical costs. Chemical companies are increasingly implementing HIPPS to comply with stringent safety regulations and reduce gas flaring. Owing to this, the market for HIPPS in the chemicals industry is likely to grow at the highest CAGR during the forecast period.

“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.

In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the HIPPS marketplace.

Profile break-up of primary participants for the report is given below:
By Company Type – Tier 1 = 39%, Tier 2 = 41%, and Tier 3 = 20%
By Designation – C-level Executives = 42%, Directors = 36%, and Others = 22%
By Region – North America = 34%, Europe = 24%, APAC = 22%, and RoW = 20%

The study includes an in-depth competitive analysis of these key players in the HIPPS market, with their company profiles, recent developments, and key market strategies. Emerson Electric (US), Yokogawa Electric (Japan), Hima (Germany), Schneider Electric (France), General Electric (US), ABB (Switzerland), Rockwell Automation (US), Honeywell (US), Schlumberger (US), Siemens (Germany), and Mokveld Valves (Netherlands) are among the major players in the HIPPS market.

Other key players in the HIPPS market include Mogas Industries (US), Velan, Inc. (Canada), Paladon Systems (UK), Severn Glocon Group (UK), IMI plc (UK), British Engines (UK), SAMSON GROUP (Germany), Larsen & Toubro (L&T, India), PetrolValves S.p.A. (Italy), ProControl (Italy), ValvTechnologies Inc. (US), Pietro Fiorentini S.p.A (Pietro Fiorentini, Italy), Frames Group (Netherlands), and DAFRAM S.p.A. (Italy).

The global HIPPS market is segmented into offering (components and services), industry, and region. The market based on the component is segmented into field initiators, logic solvers, final control elements (valves & actuators) and others that include solenoids, skids, manifolds, valve positioners, control panels, interconnections, and accessories. The market based on services is segmented into testing, inspection & certification; maintenance; and training & consulting. The industries that are included in the study of the HIPPS market include oil & gas, chemicals, power generation, food & beverages, pharmaceuticals, water & wastewater, metals & mining, and others. The HIPPS market is segmented into four regions, namely North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for markets based on offering, industry, and region have been conducted to give an overall view of the HIPPS market. The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall HIPPS market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to improve their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key HIPPS industry trends, safety standards, market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • MARKET DEFINITION
    • STUDY SCOPE
      • MARKETS COVERED
      • YEARS CONSIDERED
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • LUCRATIVE OPPORTUNITIES IN HIPPS MARKET
    • HIPPS MARKET, BY OFFERING
    • HIPPS MARKET, BY COMPONENT
    • HIPPS MARKET IN NORTH AMERICA, BY INDUSTRY AND COUNTRY
    • HIPPS MARKET IN EUROPE, BY SERVICE
    • HIPPS MARKET, BY REGION
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • HIPPS SAFETY STANDARDS AND RECOMMENDED PRACTICES
    • INTRODUCTION
    • HIPPS SAFETY STANDARDS AND SIL
      • SAFETY INTEGRITY LEVEL (SIL)
        • Table SIL AND RELATED MEASURES
      • IEC 61508
      • IEC 61511
        • Table DIFFERENCE BETWEEN IEC 61508 AND IEC 61511 STANDARDS
    • PROCESS FLOW ANALYSIS OF HIPPS
    • COMPARISON OF PRESSURE SAFETY VALVES AND HIPPS
      • Table COMPARISON OF HIPPS AND PSV
  • HIPPS MARKET, BY OFFERING
    • INTRODUCTION
      • Table HIPPS MARKET, BY OFFERING, 2017–2024 (USD MILLION)
    • COMPONENTS
      • Table HIPPS MARKET, BY COMPONENT, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET FOR COMPONENTS, BY REGION, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET FOR COMPONENTS, BY INDUSTRY, 2017–2024 (USD MILLION)
      • FIELD INITIATORS
        • Table HIPPS MARKET FOR FIELD INITIATORS, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR FIELD INITIATORS, BY INDUSTRY, 2017–2024 (USD MILLION)
      • LOGIC SOLVERS
        • Table HIPPS MARKET FOR LOGIC SOLVERS, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR LOGIC SOLVERS, BY INDUSTRY, 2017–2024 (USD MILLION)
      • FINAL CONTROL ELEMENTS
        • Table HIPPS MARKET FOR VALVES, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR VALVES, BY INDUSTRY, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR ACTUATORS, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR ACTUATORS, BY INDUSTRY, 2017–2024 (USD MILLION)
      • OTHERS
        • Table HIPPS MARKET FOR OTHER COMPONENTS, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR OTHER COMPONENTS, BY INDUSTRY, 2017–2024 (USD MILLION)
    • SERVICES
      • Table HIPPS MARKET, BY SERVICE TYPE, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET FOR SERVICES, BY REGION, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET FOR SERVICES, BY INDUSTRY, 2017–2024 (USD MILLION)
      • TESTING, INSPECTION, AND CERTIFICATION
        • Table HIPPS MARKET FOR TESTING, INSPECTION, AND CERTIFICATION SERVICES, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR TESTING, INSPECTION, AND CERTIFICATION SERVICES, BY INDUSTRY, 2017–2024 (USD MILLION)
      • MAINTENANCE
        • Table HIPPS MARKET FOR MAINTENANCE SERVICES, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR MAINTENANCE SERVICES, BY INDUSTRY, 2017–2024 (USD MILLION)
      • TRAINING AND CONSULTING
        • Table HIPPS MARKET FOR TRAINING AND CONSULTING SERVICES, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR TRAINING AND CONSULTING SERVICES, BY INDUSTRY, 2017–2024 (USD MILLION)
  • HIPPS MARKET, BY INDUSTRY
    • INTRODUCTION
      • Table HIPPS MARKET, BY INDUSTRY, 2017–2024 (USD MILLION)
    • OIL & GAS
      • Table HIPPS MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET FOR OIL & GAS INDUSTRY, BY OFFERING, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET FOR OIL & GAS INDUSTRY, BY SECTOR, 2017–2024 (USD MILLION)
      • Table TYPICAL APPLICATIONS OF HIPPS IN UPSTREAM, MIDSTREAM, AND DOWNSTREAM SECTORS
      • UPSTREAM
      • MIDSTREAM
      • DOWNSTREAM
    • CHEMICALS
      • MARKET FOR HIPPS IN CHEMICALS INDUSTRY TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
        • Table HIPPS MARKET FOR CHEMICALS INDUSTRY, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR CHEMICALS INDUSTRY, BY OFFERING, 2017–2024 (USD MILLION)
    • POWER GENERATION
      • POWER GENERATION INDUSTRY USES HIPPS FOR PROTECTING PLANTS FROM OVERPRESSURIZATION
        • Table HIPPS MARKET FOR POWER GENERATION INDUSTRY, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR POWER GENERATION INDUSTRY, BY OFFERING, 2017–2024 (USD MILLION)
    • FOOD & BEVERAGES
      • FOOD & BEVERAGES INDUSTRY EMPLOY HIPPS OWING TO ENVIRONMENTAL CONCERNS AND REGULATORY ISSUES
        • Table HIPPS MARKET FOR FOOD & BEVERAGES INDUSTRY, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR FOOD & BEVERAGES INDUSTRY, BY OFFERING, 2017–2024 (USD MILLION)
    • PHARMACEUTICALS
      • PHARMACEUTICAL COMPANIES IMPLEMENT HIPPS TO IMPROVE PLANT SAFETY AGAINST OVERPRESSURE EVENTS
        • Table HIPPS MARKET IN PHARMACEUTICALS INDUSTRY, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN PHARMACEUTICALS INDUSTRY, BY OFFERING, 2017–2024 (USD MILLION)
    • WATER & WASTEWATER
      • HIPPS HELPS IN IMPROVING OPERATIONAL EFFICIENCY AND SAVING OPERATIONAL COSTS OF WATER & WASTEWATER TREATMENT PLANTS
        • Table HIPPS MARKET FOR WATER & WASTEWATER INDUSTRY, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR WATER & WASTEWATER INDUSTRY, BY OFFERING, 2017–2024 (USD MILLION)
    • METALS & MINING
      • HIPPS HELPS TO ENSURE EFFICIENT AND SAFE PRODUCTION AND TROUBLE-FREE PROCESSING IN METALS & MINING INDUSTRY
        • Table HIPPS MARKET FOR METALS & MINING INDUSTRY, BY REGION, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET FOR METALS & MINING INDUSTRY, BY OFFERING, 2017–2024 (USD MILLION)
    • OTHERS
      • Table HIPPS MARKET IN OTHER INDUSTRIES, BY REGION, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET FOR OTHER INDUSTRIES, BY OFFERING, 2017–2024 (USD MILLION)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table HIPPS MARKET, BY REGION, 2017–2024 (USD MILLION)
    • NORTH AMERICA
      • Table HIPPS MARKET IN NORTH AMERICA, BY INDUSTRY, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN NORTH AMERICA, BY OFFERING, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN NORTH AMERICA, BY COMPONENT, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN NORTH AMERICA, BY SERVICE, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2024 (USD MILLION)
      • US
        • Table HIPPS MARKET IN US, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN US, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN US, BY SERVICE, 2017–2024 (USD MILLION)
      • CANADA
        • Table HIPPS MARKET IN CANADA, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN CANADA, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN CANADA, BY SERVICE, 2017–2024 (USD MILLION)
      • MEXICO
        • Table HIPPS MARKET IN MEXICO, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN MEXICO, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN MEXICO, BY SERVICE, 2017–2024 (USD MILLION)
    • EUROPE
      • Table HIPPS MARKET IN EUROPE, BY INDUSTRY, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN EUROPE, BY OFFERING, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN EUROPE, BY COMPONENT, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN EUROPE, BY SERVICE, 2017–2024 (USD MILLION)
      • RUSSIA
        • Table HIPPS MARKET IN RUSSIA, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN RUSSIA, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN RUSSIA, BY SERVICE, 2017–2024 (USD MILLION)
      • UK
        • Table HIPPS MARKET IN UK, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN UK, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN UK, BY SERVICE, 2017–2024 (USD MILLION)
      • NORWAY
        • Table HIPPS MARKET IN NORWAY, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN NORWAY, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN NORWAY, BY SERVICE, 2017–2024 (USD MILLION)
      • REST OF EUROPE
        • Table HIPPS MARKET IN REST OF EUROPE, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN REST OF EUROPE, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN REST OF EUROPE, BY SERVICE, 2017–2024 (USD MILLION)
    • APAC
      • Table HIPPS MARKET IN APAC, BY INDUSTRY, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN APAC, BY OFFERING, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN APAC, BY COMPONENT, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN APAC, BY SERVICE, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN APAC, BY COUNTRY, 2017–2024 (USD MILLION)
      • CHINA
        • Table HIPPS MARKET IN CHINA, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN CHINA, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN CHINA, BY SERVICE, 2017–2024 (USD MILLION)
      • INDIA
        • Table HIPPS MARKET IN INDIA, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN INDIA, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN INDIA, BY SERVICE, 2017–2024 (USD MILLION)
      • AUSTRALIA
        • Table HIPPS MARKET IN AUSTRALIA, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN AUSTRALIA, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN AUSTRALIA, BY SERVICE, 2017–2024 (USD MILLION)
      • REST OF APAC
        • Table HIPPS MARKET IN REST OF APAC, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN REST OF APAC, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN REST OF APAC, BY SERVICE, 2017–2024 (USD MILLION)
    • ROW
      • Table HIPPS MARKET IN ROW, BY INDUSTRY, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN ROW, BY OFFERING, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN ROW, BY COMPONENT, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN ROW, BY SERVICE, 2017–2024 (USD MILLION)
      • Table HIPPS MARKET IN ROW, BY REGION, 2017–2024 (USD MILLION)
      • MIDDLE EAST
        • Table HIPPS MARKET IN MIDDLE EAST, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN MIDDLE EAST, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN MIDDLE EAST, BY SERVICE, 2017–2024 (USD MILLION)
      • SOUTH AMERICA
        • Table HIPPS MARKET IN SOUTH AMERICA, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN SOUTH AMERICA, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN SOUTH AMERICA, BY SERVICE, 2017–2024 (USD MILLION)
      • AFRICA
        • Table HIPPS MARKET IN AFRICA, BY OFFERING, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN AFRICA, BY COMPONENT, 2017–2024 (USD MILLION)
        • Table HIPPS MARKET IN AFRICA, BY SERVICE, 2017–2024 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING ANALYSIS: HIPPS MARKET
    • COMPETITIVE LEADERSHIP MAPPING, 2018
      • VISIONARY LEADERS
      • DYNAMIC DIFFERENTIATORS
      • INNOVATORS
      • EMERGING COMPANIES
    • STRENGTH OF PRODUCT PORTFOLIO
    • BUSINESS STRATEGY EXCELLENCE
    • COMPETITIVE SCENARIO
      • PRODUCT LAUNCHES AND DEVELOPMENTS
        • Table PRODUCT LAUNCHES AND DEVELOPMENTS, 2016–2019
      • ACQUISITIONS
        • Table ACQUISITIONS, 2017–2018
      • AGREEMENTS, PARTNERSHIPS, JOINT VENTURES, AND CONTRACTS
        • Table AGREEMENTS, PARTNERSHIPS, JOINT VENTURES, AND CONTRACTS, 2016–2019
      • EXPANSIONS
        • Table EXPANSIONS, 2016–2018
  • COMPANY PROFILES
    • KEY PLAYERS
      • EMERSON ELECTRIC
      • YOKOGAWA ELECTRIC CORPORATION
      • SCHNEIDER ELECTRIC
      • HIMA
      • ROCKWELL AUTOMATION
      • GENERAL ELECTRIC
      • ABB
      • SIEMENS AG
      • SCHLUMBERGER
      • HONEYWELL
    • OTHER KEY PLAYERS
      • MOGAS INDUSTRIES
      • VELAN INC
      • PALADON SYSTEMS LTD.
      • PIETRO FIORENTINI (ARVAN SRL)
      • IMI PLC.
      • BRITISH ENGINES LIMITED (BEL VALVES LTD)
      • DAFRAM SPA
      • FRAMES GROUP
      • LARSEN & TOUBRO
      • MOKVELD VALVES
      • PETROLVALVES
      • PROCONTROL
      • SAMSON GROUP (RINGO VALVULAS)
      • SEVERN GLOCON GROUP
      • VALVTECHNOLOGIES INC.
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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