Global High-Integrity Pressure Protection System (HIPPS) Market Analysis 2022

Global High-Integrity Pressure Protection System (HIPPS) Market Analysis 2022

The Global High-Integrity Pressure Protection System (HIPPS) Market is expected to reach $844.14 million by 2028 growing at a CAGR of 8.7% from 2021 to 2028. HIPPS (also referred to as HIPS) systems are a series of components, specifically engineered to isolate the source of dangerous high pressure instead of relieving the excess flow, in the case of an overpressure event. HIPPS is an independent and reliable Safety Instrumented System that is designed with high integrity as per established ANSI/ISA and IEC standards, to equal or exceed the safety performance of conventional safety valves.

Factors such as rising government regulatory standards to defend safety and security at industrial plants due to increasing accidents at plants are driving the growth of the market. However, high installation cost is restraining the growth of the market.

Based on end user, the oil & gas segment is going to have a lucrative growth during the forecast period which can be attributed to the growing transportation sector, increasing energy demand, and rising drilling activities in the Gulf Cooperation Council (GCC) countries. Additionally, the new projects are initiated and the expansion of existing oil extraction activities in several countries are some of the factors motivating the segment growth.

The key vendors mentioned are ABB Ltd., Emerson Electric Co., General Electric Co., HIMA GmbH, Johnson Controls International Plc, Mokveld Valves BV, Rockwell Automation Inc., Schlumberger Ltd., and Schneider Electric SE, Yokogawa Electric Corp.

Types Covered:

• Electronic HIPPS
• Mechanical HIPPS

Components Covered:

• Valves
• Logic Solver
• Final Control Elements
• Field Initiators
• Actuators

Services Covered:

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

End Users Covered:

• Chemicals
• Food & beverages
• Metals & Mining
• Oil & Gas
• Paper & Pulp
• Pharmaceuticals
• Power Generation
• Water & Wastewater

Regions Covered:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Questions Answered in this Report:

• How this market evolved since the year 2020
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analyzed during the forecast period