Global High-Integrity Pressure Protection System Market 2016-2020

February 17, 2016
This global market research report provides a comprehensive analysis of the HIPPS market by end users (oil and gas, chemical and petrochemical, pharmaceutical, and others). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The prominent vendors analyzed in this report are ABB, Rockwell Automation, Schneider Electric, and Yokogawa Electric.

Market outlook of high-integrity pressure protection systems

Technavio’s market research analyst predicts the global high-integrity pressure protection system (HIPPS) market to grow at a CAGR of more than 7% during the forecast period. The growth of the global pipeline transportation is a key growth driver for this market. The availability of oil and gas sources worldwide is not uniform and requires transportation from countries rich in oil and gas reserves, such as the UAE, the US, Russia, Iran, Algeria, Ecuador, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and Venezuela, to countries such as India, China, Canada, Germany, and Brazil. The transportation of crude oil and gas through pipelines requires HIPPS to control, protect, and manage the pipeline from over pressure. This system prevents the loss of oil or gas from explosion due to over-pressure within the pipeline distribution that expands to more than 400-1,000 miles across countries and passes through hostile areas. Advances in offshore technologies have reduced unit costs and made deep-water projects more cost-effective in the global scenario. The installation of offshore pipelines in these projects will fuel the pipeline industry worldwide, which will drive the demand for more HIPPS in the oil and gas industry.

The need to comply with stringent government and environmental regulations worldwide is expected to further aid market growth over the next four years. Numerous countries have imposed stringent regulations and enforced policies on oil and gas exploration, including adherence to best manufacturing practices, to ensure employee safety and safeguard the environment. This helps organizations across process industries such as power, mining and metals, oil and gas, water and wastewater, and chemicals, to meet international quality standards. All these industries are regulated to ensure the safety of manufacturing plants.

End-user segmentation and analysis of the HIPPS market

  • Oil and gas
  • Chemical and petrochemical
  • Pharmaceutical
  • Others

The oil and gas sector accounted for more than 43% of the market share during 2015 and is expected to retain its market leadership until the end of 2020. Exploration of new oil and gas fields and increased investments in pipelines and refineries in the Americas, EMEA, and APAC are likely to fuel market growth. The requirement for HIPPS in the oil and gas industry will increase with the rise in offshore and shale-related exploration activities. . Moreover, the construction of gas-to-liquid and LNG plants with the boom in shale gas should further increase the demand for HIPPS, especially in the US.

Geographical segmentation and analysis of the HIPPS market

  • Americas
  • APAC
  • EMEA

During 2015, EMEA dominated the market, accounting for more than 42% of the market share. The HIPPS market in EMEA is experiencing high demand from the Middle East due to its growing oil and gas industry. With 28% share of the global oil production, the Middle East has become the major exporter of oil. The consumption of oil in the region is increasing due to a growing population and burgeoning middle class. The HIPPS market in Europe is increasing significantly owing to rising demand from the oil and gas, chemical and petrochemicals, and pharmaceutical industries. The presence of established chemical producing companies in the region such as BASF will further boost the growth of HIPPS.

Competitive landscape and key vendors

The global HIPPS market is concentrated within the top 10 players, with a few key vendors holding the majority of market shares due to their high brand value and expertise in the automation sector. These vendors offer HIPPS worldwide directly.

The key vendors in the market are -

  • ABB
  • Rockwell Automation
  • Schneider Electric
  • Yokogawa Electric

Other prominent vendors in the market include Emerson Process Management, Esoterica Automation, GE, HIMA Paul Hildebrandt, Honeywell, Johnson Controls, Mokveld, Norgren, OMRON, RTP, Siemens, and Tyco International.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global high-integrity pressure protection system market?
  • What are the key market trends impacting the growth of the high-integrity pressure protection system market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the vendors in the global high-integrity pressure protection system market?
  • What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the high-integrity pressure protection system market?

Technavio also offers customization on reports based on specific client requirement.

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HIPPS systems are a series of components that are specifically engineered to isolate the source of dangerous high pressure, in the case of an overpressure event. HIPPS is an independent and reliable safety instrumented system that is designed with high integrity as per the established ANSI/ISA and IEC standards. Extensive studies carried out by the analysts at Technavio have shown that the current process of using mechanical relief valves to handle the risk of over-pressure events is currently being replaced with HIPPS in the process oriented industries.

The global HIPPS system market report is part of Technavio’s industrial automation research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automation and robotics. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.