Semiconductor and Electronics High-Integrity Pressure Protection System (Hipps) Market

The high-integrity pressure protection system (HIPPS) market size is estimated to grow at a CAGR 7.49% rate during the forecast period. A high-integrity pressure protection system (HIPPS) is a safety instrumented system (SIS) designed to avoid the overpressure generated during hazardous processes, mainly in oil & gas plants, by shutting off the source and capturing the pressure in the upstream side of the system. Factors such as 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 are expected to drive the market.Components accounted for the largest HIPPS market share in 2021, and expected to continue its domination in the next few years owing to its increasing adoption in process industries. The complete HIPPS solutions consist of pressure sensors/transmitters, logic solvers, valves, actuators, and other components such as solenoids, control panels and software, alarms, valve positioners, manifolds, and accessories.

Chemicals to grow at a highest rate. 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.

The APAC HIPPS market is expected to grow at highest CAGR during the forecast period owing to the focus of countries on expanding oil & gas refining capacity and significant growth in the chemicals industry. The rising adoption of functional safety systems in the oil & gas industry has fostered the demand for HIPPS to ensure the protection of the environment, equipment, and personnel. In recent years, the requirement for gas in China has surged sharply due to the expansion of the petroleum industry, improvement in living standards, and the development of gas infrastructure.

Key Market Players includes 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).

Key Questions Addressed by the Report

  • Which component and service type of HIPPS is expected to have the highest demand in the future?
  • Who are the top 5 players in the HIPPS market?
  • What is the process-flow analysis for High-Integrity Pressure Protection System market?
  • What are the growth opportunities for manufacturers in various industries?

How can safety solutions providers tap high growth opportunities in the HIPPS market?

  1. Introduction
  2. Market Definition
  3. Study Scope
  4. Study Period
  5. Market Stakeholders
  6. Research Methodology
  7. Secondary Research
  8. Primary Research
  9. Research Design
  10. Data Validation
  11. Limitations and Assumptions
  12. Market Dynamics
  13. Drivers
  14. Imposing Government Regulatory Norms to Ensure Safety and Security at Manufacturing Plants
  15. Increasing Focus of Countries Across the World on Participating in Gas Flaring and Venting Reduction Programs
  16. Rising Demand for Reliable Safety Solutions for Personnel and Asset Protection in High-Pressure Environments
  17. Challenges
  18. Lack of Awareness and Perceived Complexity
  19. High Installation Cost of High-Integrity Pressure Protection System
  20. High Complexity of Safety Applications
  21. Lack of Certified Workforce to Ensure Functional Safety
  22. Opportunities
  23. Increasing Exploration and Production Activities in Oil & Gas Industry
  24. Executive Summary
  25. High-Integrity Pressure Protection System (HIPPS) Market, By Offering
  26. Components
  27. Field Initiators
  28. Logic Solvers
  29. Final Control Elements
  30. Others
  31. Services
  32. Testing, Inspection, and Certification
  33. Maintenance
  34. Training and Consulting
  35. High-Integrity Pressure Protection System (HIPPS) Market, By Industry
  36. Oil and Gas
  37. Upstream
  38. Downstream
  39. Chemicals
  40. Power Generation
  41. Food and Beverages
  42. Pharmaceuticals
  43. Water and Wastewater
  44. Metals and Mining
  45. Others
  46. High-Integrity Pressure Protection System (HIPPS) Market, By Region
  47. North America
  48. US
  49. Canada
  50. Mexico
  51. Europe
  52. UK
  53. Russia
  54. Norway
  55. Rest of Europe
  56. Asia Pacific
  57. Japan
  58. China
  59. India
  60. Rest of APAC
  61. Rest of the World
  62. South America
  63. Middle East
  64. Africa
  65. Company Profiles
  66. Leading Companies in High-Integrity Pressure Protection System (HIPPS) Market
  67. Emerson Electric
  68. Yokogawa Electric Corporation
  69. Schneider Electric
  70. Rockwell Automation
  71. HIMA
  72. General Electric
  73. ABB
  74. Siemens AG
  75. Schlumberger
  76. Honeywell
  77. Other Companies in High-Integrity Pressure Protection System (HIPPS) Market
  78. *Company introduction, financial information, recent developments, SWOT analysis
  79. Conclusion and Recommendations
  80. Appendix
  81. About
  82. Related Reports
  83. Glossary

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