High-Integrity Pressure Protection System Market Size - By Technology (Electronic HIPPS, Mechanical HIPPS), By Component (Field Initiator, Logic Solver, Final Element), By Services (Maintenance, Training & consultation), By End-user Industry & Forecast, 2024 - 2032

High-Integrity Pressure Protection System Market Size - By Technology (Electronic HIPPS, Mechanical HIPPS), By Component (Field Initiator, Logic Solver, Final Element), By Services (Maintenance, Training & consultation), By End-user Industry & Forecast, 2024 - 2032

High-Integrity Pressure Protection System Market Size

High-Integrity Pressure Protection System Market was valued at over USD 525 million in 2023 and is anticipated to grow at a CAGR of over 7% between 2024 and 2032, driven by the increasing adoption of advanced control and logic systems for preventing excessive pressure occurrence in valves and pipes. These technological advancements have enhanced the functionality of HIPPS solutions, making them more adept at managing equipment and preventing potentially catastrophic incidents such as pipeline ruptures and vessel explosions. As industries continue to prioritize risk mitigation and operational excellence, the demand for HIPPS solutions is expected to further escalate.

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The growing concern of safeguarding assets from the consequence of overpressure events in the pipeline is gaining traction in the market. The primary objective to protect personnel, equipment, and others is creating demand for creation of robust HIPPS solution in the market. The consequences due to excessive pressure can lead to major accidents, which will result in costly downtime, production losses, and damage to process equipment, impacting the overall operation & profitability.
 

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Designing and implementing HIPPS systems requires expertise in process safety engineering, risk assessment, and Safety Instrumented System (SIS) design. The challenge of integrating HIPPS with the existing protocol control system is high, specifically for large-scale industrial facilities.

High-Integrity Pressure Protection System Market Trends

The HIPPS industry has witnessed a rise in stringent regulatory standards owing to major accidents. The organization is constantly working and addressing the need for proper system & incident investigation to find the root cause of accidents due to overpressure in the pipes. The regulatory frameworks are also strengthening the standards as they are directly related to major accidents, which can damage the pipes and even release unwanted substances into the environment.

The growing emphasis on process safety and risk management across different sectors such as oil & gas, petrochemical, and chemical processing has enabled the priority of HIPPS deployment. The surge in demand to control overpressure events and reduce the risk of hazardous substances released into the environment is acting as a catalyst for the development of HIPPS & related systems to cater the challenges.

High-Integrity Pressure Protection System Market Analysis

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Based on services, the market is segmented into Testing, Inspection & Certification (TIC), maintenance and training & consultation. In 2023, the TIC segment dominated the market with a share of over 45%.

• The growing emphasis on safety and risk management in industries such as oil & gas, chemical processing, and power generation is driving the demand for comprehensive testing & inspection of safety systems such as HIPPS. TIC services identify potential safety hazards, assess risk levels, and verify the functionality of HIPPS components, ensuring that they effectively mitigate overpressure risks & protect personnel, equipment, and the environment. For instance, in September 2021, Mokveld introduced the first true zero emission valve. Mokveld incorporated an electric actuator inside its new valve for testing and eliminating the stem seal to atmosphere entirely. Such dynamic stem seals are prone to wear and tear and degradation. Over time by eliminating the stem seal altogether, Mokveld’s new Zero emission valve prevents any leakage to atmosphere throughout the valve’s entire life cycle.

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Based on end-use industry, the market is divided into oil & gas and chemicals, pharmaceutical, power generation, and others. The oil & gas segment is expected to register a CAGR of over 8% through 2032.

• Oil & gas companies are focusing and adopting smart field technologies, such as sensors, actuators & control systems, to optimize production, reduce costs, and improve asset performance. For instance, in February 2020, Emerson introduced the ASCO Series 158 Gas Valve and Series 159 Motorized Actuator. Designed specifically for burner-boiler applications, the new products give OEMs, distributors, contractors, and end users a new combustion safety shutoff valve option that increases safety & reliability and enhances both flow & control.

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Asia Pacific high-integrity pressure protection system market is anticipated to register a CAGR of over 10.5% from 2024 to 2032. The region's prominence is attributed to several factors including the increasing adoption of advanced industrial technologies and the implementation of stringent regulatory frameworks aimed at enhancing process safety & risk management. Initiatives aimed at enhancing industrial safety, such as the implementation of Safety Instrumented Systems (SIS) and adherence to international standards such as IEC 61511, contribute to the growing demand for HIPPS in the region.

As industries in Asia Pacific continue to prioritize safety, reliability, and regulatory compliance, the market is poised for substantial growth, driven by increasing investments in critical infrastructure and the adoption of advanced safety technologies.

High-Integrity Pressure Protection System Market Share

Honeywell International Inc. is a prominent player in the HIPPS market, offering a wide range of solutions and services tailored to the needs of various industries, including oil and gas, chemical, petrochemical, and manufacturing. As a leading technology company, Honeywell leverages its expertise in process control, automation, and safety systems to provide innovative HIPPS solutions that enhance process safety, reliability, and efficiency for its customers.

Rockwell Automation Inc. is a major player in the High-Integrity Pressure Protection System (HIPPS) market, offering a range of products and solutions tailored to the needs of industries such as oil and gas, chemical processing, power generation, and manufacturing. Rockwell Automation is renowned for its expertise in industrial automation and control systems, providing innovative technologies and services that help customers improve process safety, reliability, and efficiency.
High-Integrity Pressure Protection System Market Companies

Major players operating in the High-Integrity Pressure Protection System (HIPPS) market are

• Honeywell International Inc.
• Rockwell Automation Inc.
• Yokogawa Electric Corp
• Siemens AG
• Emerson Electric Co
• ABB ltd.
• L&T Valves Limited.

High-Integrity Pressure Protection System Industry News

• In September 2021, Yokogawa Electric Corporation announced a major upgrade to its Exaquantum Safety Function Monitoring (SFM) software, an OpreX asset operations and optimization solution that helps identify whether the actual operating performance meets safety design targets. SFM R3.35 provides continuous monitoring and evaluation of data to highlight deviations or failures in plant safety system performance.
• In July 2021, MOGAS Industries, Inc. acquired the assets of Watson Valve, a Houston-based turn-key manufacturer of severe service valves, to include repairs & coating services in its portfolio.

This high-integrity pressure protection system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments

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Market, By Technology

• Electronic HIPPS
• Mechanical HIPPS

Market, By Component

• Field Initiators
• Logic Solver
  • Solid-state
  • Others
• Final Element
  • Actuators
  • Valve
• Others

Market, By Services

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

Market, By End-User Industry

• Oil & Gas
• Chemicals
• Pharmaceutical
• Power Generation
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA