Europe High-Integrity Pressure Protection System (HIPPS) Market, By Type (Electronics HIPPS, Hydraulic/Mechanical HIPPS, Others), Offerings (Components, Services), Industry (Power Generation, Water and Wastewater, Food and Beverages, Pharmaceutical, Metal and Mining, Pulp and Paper, Others), End User (Upstream, Mid-Stream, Downstream, Oil and Gas, Chemicals) – Industry Trends and Forecast to 2030.
Europe High-Integrity Pressure Protection System (HIPPS) Market Analysis and Size
In order to reduce overpressure brought on by risky processes, particularly in the oil and gas industries, the high integrity pressure protection system (HIPPS) is a safety device that turns off the source and captures the pressure on the upstream side of the system. Mechanical relief devices were necessary to protect gas production facilities or pipelines when connecting new gas production wells to gas plant facilities. New production wells connected to existing pipelines shield them from any possible overpressures that might cause the unintentional combustion of hydrocarbons released into the atmosphere by flare systems.
Data Bridge Market Research analyses that the high-integrity pressure protection system (HIPPS) market, valued at USD 180.94 million in 2022, will reach USD 360.53 million by 2030, growing at a CAGR of 9% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Europe High-Integrity Pressure Protection System (HIPPS) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Electronics HIPPS, Hydraulic/Mechanical HIPPS, Others), Offerings (Components, Services), Industry (Power Generation, Water and Wastewater, Food and Beverages, Pharmaceutical, Metal and Mining, Paper and Pulp, Others), End User (Upstream, Mid-Stream, Downstream, Oil and Gas, Chemicals)
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Countries Covered
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
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Market Players Covered
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Honeywell International, Inc. (U.S.), Siemens AG (Germany), Wagner Group Gmbh (Germany), Hochiki Corporation (Japan), Halma Plc. (U.K.), Apollo Fire Detectors Limited (U.K.), Robert Bosch Gmbh (Germany), EUROFYRE LTD. (U.K.), Detectomat Systems GmbH (Germany), Ceasefire Industries Pvt. Ltd (India), Johnson Controls (Ireland), Napco Security Technologies, Inc. (U.S.), Zeta Alarm ltd (U.K.), Libelium Comunicaciones Distribuidas S.L (Spain), Emerson Electric Co. (U.S.), Yokogawa Electric Corporation (Japan), Rockwell Automation (U.S.), Schneider Electric (France), Baker Hughes Company (U.S.)
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Market Opportunities
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Market Definition
A system of parts known as a high-integrity pressure protection system (HIPPS) is made to isolate the source of dangerously high pressure rather than reduce the extra flow. According to the widely recognized ANSI/ISA and IEC standards, HIPPS is an independent instrumented system that is reliable, safe, and built with high integrity to match or surpass the safety performance of conventional safety valves.
High-Integrity Pressure Protection System (HIPPS) Market Dynamics
Drivers
- Growing need for reducing flaring and venting to protect the environment
Gas flaring occurs at oil and gas production facilities during scheduled maintenance, equipment repairs, or shutdown events. This technology makes the gas collection and processing systems' controlled pressure releases possible. In order to maintain pressures and guarantee secure and effective operations throughout industrial plants. However, gas flaring has recently grown to be a significant issue in businesses that support pressurized systems and ensure secure and effective operations, which helps create a surge in the HIPPS market.
- Government regulations limit market growth
As a result of strict regional government regulations on emission levels across industries to enhance workstation safety, the demand for various HIPPS applications has increased. The end-user industry landscape has changed quickly as a result of the quick growth of emerging markets, sustainability regulations, the appearance of new technologies, and shifting consumer preferences. A rise in accidents at industrial facilities has led to the government enacting more regulations to ensure their safety and security.
Opportunities
- Expansion of petrochemical and refinery facilities
In developing and developed nations, the industrial sector, which includes the oil, gas, and chemical industries, is consistently expanding. Around 12% of the world's feedstock requirements are met by the petrochemical sector, which is anticipated to increase with the rising demand for fertilizers, plastics, and other goods. Additionally, there are a lot of planned projects for the transportation and production of oil and gas, which further need high-integrity pressure protection systems, which creates demand in the market.
- Lower transportation and storage costs create growth
Using a high-integrity pressure protection system lowers the cost of transportation and storage because of the decrease in volume and weight. High-integrity pressure protection systems are becoming more popular because they are also used to prevent overpressure in vessels further down the line as, there is no longer a requirement to install relief devices in order to prevent atmospheric gas emissions because HIPPS is capable of handling transportation and storage costs.
Restraints/Challenges
- Designing complexities of HIPPS have limited the market expansion
Functional safety requirements can be challenging for system designers to meet when developing systems, especially when many applications are in charge of these systems. Engineers must create systems that prevent hardware and software failure because recurrent issues like these can hinder the market.
- The high cost of HIPPS limits the market expansion
The costs of HIPPS components, installation, maintenance, and repair put a significant burden on businesses' budgets. Major corporations can manage these costs, but small and medium-sized businesses might find it difficult. Logic solvers, field initiators, pressure transmitters, valves, and actuators are the final components of the high-integrity pressure protection system (HIPPS), which assembles safety items. The costs of HIPPS components, building, maintenance, and repair put a heavy burden on businesses' budgets, limiting market growth.
This high-integrity pressure protection system (HIPPS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the high-integrity pressure protection system (HIPPS) market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In 2021, the first complete valve assemblies meeting safety level (SIL) 3 AS PER HE IEC 61508 standard of the international electro technical commission were introduced by Emerson.
- In 2021, A SOLUTION TO IDENTIFY WHETHER ACTUAL OPERTAING PERFORMANCE MEETS SAFETY DESIGN TARGETS, Yokogawa introduced its new Electric Exauquantum safety function monitoring (SFM) SOFTWARE. The updated software complies with IEC 61511 standards and adds a number of new features to assist SFM users in identifying potential safety issues, optimizing maintenance tasks, and enhancing overall safety solution design.
- In 2020, MOGAS Industries Inc. purchased Watson Valve, a service valves manufacturer with headquarters in the United States, to offer coating and pressure control-related repairs and services. More than 3,400 valves are installed by Watson Valve every year in the mining, chemical, and oil & gas industries worldwide.
- In 2020, ASCO 158 Gas Valve Series and 159 Motorized Actuator were introduced by Emerson. New valves were created by ASCO specifically for burner applications in boilers. A new combustion safety shutdown valve option that enhances flow and control while boosting safety and dependability is now available to end users and distributors.
Europe High-Integrity Pressure Protection System (HIPPS) Market Scope
The high-integrity pressure protection system (HIPPS) market is segmented on the basis of type, offerings, industry, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Electronics HIPPS
- Hydraulic/Mechanical HIPPS
- Others
Offerings
- Services
- Testing, Inspection and Certification
- Maintenance
- Training and Consolation
- Components
- Field Initiators
- Logic Solver
- Solid State
- Others
- Final Element
- Actuators
- Valve
Industry
- Power Generation
- Water and Wastewater
- Food and Beverages
- Pharmaceutical
- Metal and Mining
- Paper and Pulp
- Others
End User
- Upstream
- Mid-Stream
- Downstream
- Oil and Gas
- Chemicals
High-Integrity Pressure Protection System (HIPPS) Market Regional Analysis/Insights
The high-integrity pressure protection system (HIPPS) market is analysed and market size insights and trends are provided by country, type, offerings, industry and end user as referenced above.
The countries covered in the high-integrity pressure protection system (HIPPS) market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
Russia dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are rising building construction, increasing demand for household gasses. Additionally, the demand for natural gas has also grown as a result of the expansion of power plants. Thus, the production plant has evolved in response to the rising demand for natural gas, raising the need for the HIPPS system.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and High-Integrity Pressure Protection System (HIPPS) Market Share Analysis
The high-integrity pressure protection system (HIPPS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to high-integrity pressure protection system market.
Some of the major players operating in the high-integrity pressure protection system (HIPPS) market are:
- Honeywell International, Inc. (U.S.)
- Siemens AG (Germany)
- Wagner Group Gmbh (Germany)
- Hochiki Corporation (Japan)
- Halma Plc. (U.K.)
- Apollo Fire Detectors Limited (U.K.)
- Robert Bosch Gmbh (Germany)
- EUROFYRE LTD. (U.K.)
- Detectomat Systems GmbH (Germany)
- Ceasefire Industries Pvt. Ltd (India)
- Johnson Controls (Ireland)
- Napco Security Technologies, Inc. (U.S.)
- Zeta Alarm ltd (U.K.)
- Libelium Comunicaciones Distribuidas S.L (Spain)
- Emerson Electric Co. (U.S.)
- Yokogawa Electric Corporation (Japan)
- HIMA (Germany)
- Rockwell Automation (U.S.)
- Schneider Electric (France)
- Baker Hughes Company (U.S.)
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