세계의 HIPPS(High Integrity Pressure Protection System) 시장 예측(2023-2028년)

The High-Integrity Pressure Protection System (HIPPS) market was valued at US$518.638 million in 2021 and will witness a CAGR of 7.31% to reach US$ 849.956 million by 2028.

The market revolves around developing, producing, and commercializing systems specifically designed to avert overpressure incidents in critical process equipment. HIPPS serves as a safeguard, ensuring that pressure levels remain within safe operating limits, thereby mitigating the risk of accidents or catastrophic failures. The market primarily caters to industries engaged in high-pressure processes, such as oil and gas, chemical, pharmaceutical, power generation, and refining. HIPPS plays a pivotal role in ensuring operational safety. Several drivers propel the growth of the HIPPS market. Notably, stringent safety regulations and standards mandated by governmental bodies and industry associations underscore the imperative for reliable pressure protection systems. Expanding industries, particularly in emerging economies, such as oil and gas, chemical processing, and power generation, also contribute to the market's upward trajectory.

The high-integrity pressure protection system (HIPPS) market offers various service types to meet clients' needs. These services include design and engineering, installation and commissioning, maintenance and support, training and consultation, upgrades and retrofitting, monitoring and remote services, and system integration. Industry regulations, safety standards, technological advancements, and the growth of industries such as oil and gas, refining, and chemicals drive the demand for these services.

The high-integrity pressure protection system market is driven by the expansion of high-pressure industries and rising stringent government safety regulations.

The continuous expansion of industries dealing with high-pressure processes contributes to the growth of the HIPPS market. Sectors such as oil and gas, chemical processing, power generation, and refining are expanding globally, particularly in emerging economies. These industries require effective pressure protection systems to ensure the safety and reliability of their operations. As the demand for high-pressure applications increases, so does the need for HIPPS solutions.

The strict safety regulations imposed by government bodies and industry associations significantly benefit this market. These regulations require industries to implement robust safety measures, including pressure protection systems, to prevent accidents and ensure compliance. The increasing focus on safety standards drives the demand for HIPPS solutions as companies strive to meet regulatory requirements and mitigate potential risks. For instance, the European Union's ATEX directive mandates pressure protection systems like HIPPS in industries operating in potentially explosive atmospheres. International standards such as IEC 61511 provide guidelines for the functional safety of HIPPS. At the same time, regulations like the U.K.'s COMAH and offshore industry-specific requirements underscore HIPPS's need to manage major accident risks. These government regulations emphasize the importance of implementing HIPPS to meet safety and compliance requirements, driving the market's growth and adoption.

However, the HIPPS market continues to face several challenges. The substantial upfront costs associated with installation and maintenance may pose a challenge, particularly for small and medium-sized enterprises seeking to adopt HIPPS solutions. Additionally, the complexity of integrating HIPPS into existing process systems and the demand for skilled professionals proficient in operating and maintaining these systems may impede market growth. Despite these challenges, the HIPPS market continues to thrive due to its fundamental role in upholding operational safety and meeting regulatory compliance. With the relentless expansion of high-pressure industries worldwide, the demand for HIPPS solutions is expected to persist, driving innovation and further advancements in the field.

Market Developments:

In October 2021, Emerson unveiled a groundbreaking valve configuration that satisfies the Safety Integrity Level (SIL) 3 criteria per the IEC 61508 specification. The Fisher Digital Isolation triple offset valve is specifically engineered for essential safety instrumented system (SIS) implementations. These SIL-certified valve assemblies, developed as part of Emerson's Digital Isolation technology, enhance performance specifications in safety instrumented systems by up to 50%. This launch signifies a significant advancement in High-Integrity Pressure Protection Systems (HIPPS) by offering fully tested and certified valve assemblies for improved safety and reliability.

North America accounted for a significant share of the global high-integrity pressure protection system market.

Based on geography, the high-integrity pressure protection system market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America is a key market for high-integrity pressure protection systems (HIPPS) due to its well-established oil and gas industry, stringent safety regulations, and emphasis on risk reduction. For instance, in the United States, OSHA's Process Safety Management Standard requires industries dealing with hazardous chemicals to implement comprehensive safety programs, including HIPPS, to prevent overpressure incidents and ensure worker safety. The region's robust energy sector, including oil and gas production, refining, and petrochemical facilities, drives the demand for reliable safety systems. Compliance with strict regulations set by regulatory bodies such as OSHA and EPA further fuels the adoption of HIPPS solutions. Technological advancements, including digitalization and automation, increase the adoption of smart safety systems. With established players in the market, North America presents a favorable landscape for HIPPS, poised for further growth as the industry prioritizes safety and operational efficiency.

Market Segmentation:

By Component

• Field Initiator
• Logic Solver
• Valve
• Actuator

By Service

• Maintenance and Testing
• Inspection & Certification
• Training & Consulting

By End-User

• Oil and Gas
• Chemicals
• Food and Beverages
• Other

By Geography

• North America
• U.S.
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• U.K
• Germany
• Italy
• France
• Others
• Middle East and Africa
• Israel
• Saudi Arabia
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Others

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY

• 2.1. Research Data
• 2.2. Research Process

3. EXECUTIVE SUMMARY

• 3.1. Research Highlights

4. MARKET DYNAMICS

• 4.1. Market Drivers
• 4.2. Market Restraints
• 4.3. Porter's Five Force Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis

5. HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY COMPONENT

• 5.1. Introduction
• 5.2. Field Initiator
• 5.3. Logic Solver
• 5.4. Valve
• 5.5. Actuator

6. HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY SERVICE

• 6.1. Introduction
• 6.2. Maintenance and Testing
• 6.3. Inspection & Certification
• 6.4. Training & Consulting

7. HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY END-USER

• 7.1. Introduction
• 7.2. Oil and Gas
• 7.3. Chemicals
• 7.4. Food and Beverages
• 7.5. Other

8. HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY GEOGRAPHY

• 8.1. Introduction
• 8.2. North America
  • 8.2.1. U.S.
  • 8.2.2. Canada
  • 8.2.3. Mexico
• 8.3. South America
  • 8.3.1. Brazil
  • 8.3.2. Argentina
  • 8.3.3. Others
• 8.4. Europe
  • 8.4.1. U.K
  • 8.4.2. Germany
  • 8.4.3. Italy
  • 8.4.4. France
  • 8.4.5. Others
• 8.5. Middle East and Africa
  • 8.5.1. Israel
  • 8.5.2. Saudi Arabia
  • 8.5.3. Others
• 8.6. Asia Pacific
  • 8.6.1. China
  • 8.6.2. Japan
  • 8.6.3. South Korea
  • 8.6.4. India
  • 8.6.5. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 9.1. Major Players and Strategy Analysis
• 9.2. Emerging Players and Market Lucrativeness
• 9.3. Mergers, Acquisitions, Agreements, and Collaborations
• 9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

• 10.1. Schneider Electric SE
• 10.2. Rockwell Automation
• 10.3. ABB Ltd.
• 10.4. Emerson Electric Company
• 10.5. Schlumberger Limited
• 10.6. General Electric Company
• 10.7. Siemens AG
• 10.8. Honeywell
• 10.9. Yokogawa Electric
• 10.10. Hima
• 10.11. Mokveld Valves