High Integrity Pressure Protection System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Electronics HIPPS and Hydraulic/Mechanical HIPPS), By Offering (Component and Services), By Industry (Oil & Gas, Power Generation, Chemical and Others), By Region

Global high integrity pressure protection system market is expected to grow at a robust pace in the forecast period 2024-2028 owing to the increasing requirement to reduce flaring to protect the environment and the installation by governments of strict regulatory standards to maintain safety and security at manufacturing facilities. due to the growing demand for trustworthy and high-quality systems. Moreover, rising investments are being made for the technological advancements for making operations safer and more effective along with being less expensive. The continual rise in production rates brought on by cutting-edge technologies like automation, robotics, and artificial intelligence is what is driving demand for these systems.

High Integrity Protection Systems (HIPPS) are specialized safety systems that serve as the final line of defense in high-risk and life-or-death circumstances. The HIPPS, which is completely autonomous, continuously monitors safety parameters to protect the process, the plant's machinery, and the surrounding environment. The HIPPS automatically closes safety valves to bring the system to a safe state if gas pressure rises too high. A HIPPS logically combines measured values to assess whether process intervention is necessary while continuously monitoring process parameters.

Growing need for gas flaring and venting to protect environment is driving the High Integrity Pressure Protection System Market

At oil and gas production facilities, gas flaring typically takes place during scheduled maintenance, equipment repairs, or shutdown occasions. The method enables the gas collection and processing systems to release pressure under control. In order to maintain pressures and guarantee secure and effective operations in industrial plants, it is utilized. However, due to the burning of rich natural resources and the significant amounts of carbon dioxide, Sulphur dioxide, and nitrous oxide gases that are produced—all of which have a negative impact on the environment—gas flaring has recently grown to be one of the primary concerns in the process industries. Similar to this, gas venting is also done to preserve safety throughout various treatment stages. Unburnt gases (impure gases) are emitted during this process, which could be harmful to human health. Oil and gas producers use Floating Liquefied Natural Gas (FLNG) vessels for zero hydrocarbon gas flaring under normal operating conditions to combat the problems related to gas flaring and venting. Additionally, the HIPPS is set up at the FLNG gas input to stop the flow of gas during over pressurization situations, minimizing the need for flaring. A trustworthy safety instrumented system (SIS) called HIPPS is used to stop hazardous, explosive, and flammable chemical releases and catastrophic over pressurization.

Rise in Midstream Infrastructure is expected to drive the growth of Global High Integrity Pressure Protection System Market

In the midstream industry, production flowlines from the wellhead to offshore storage facilities and to end-user processing plants are frequently constructed to withstand high wellhead shut-in pressures, even though the pressure in the flowline is significantly lower during normal operating conditions. Including this pressure buffer in the system can be expensive and jeopardize its viability from an economic standpoint. HIPPS gets around this issue by reducing pipeline pressure. As soon as a predetermined level is reached beyond, it immediately closes the pipeline. To do this, a choke system is used, with valves that close if the pressure rises, to monitor a constant pressure decline. Various safety circumstances can be detected by HIPPS's control systems and valves.

Introduction of a Safety Programmable Logic Controller (PLC) is expected to boost the Global High-Integrity Pressure Protection System (HIPPS) Market

Overpressure protection is provided by swiftly isolating the source of the overpressure. The final component, a logic solver, and initiators make up the whole HIPPS package. Field sensors that serve as the inputs needed to detect the dangerous condition are the initiators. These inputs are processed by the logic solver, which produces accurate outputs that modify the final elements' states to lessen the danger. According to the International Electrotechnical Commission (IEC) standards, logic solvers must be knowledgeable about the strategies and precautions that should be used to guard against the introduction of systematic flaws into the safety system's hardware and software. The use of a safety-configured PLC in SIL 2 and SIL 3 applications is allowed by IEC 61511. The specifications listed for a safety-configured PLC are above and above the capabilities of a typical PLC. Standard industrial-grade PLCs might not be able to meet these standards. Safety PLC's software is also designed to contain a variety of error detection and monitoring tools to make sure the safety modules are functioning properly.

High installation cost associated with high-integrity pressure protection system is expected to hinder the growth of Global High Integrity Pressure Protection System Market

A variety of safety devices, including pressure transmitters, logic solvers, field initiators, and final elements—valves and actuators—are combined to form the HIPPS. It is put in place as a safety precaution to protect workers, equipment, and manufacturing lines in an emergency. The installation, maintenance, and repair costs for HIPPS components, however, place a heavy financial burden on organizations. Although large organizations can handle these costs, medium- and small-sized organizations may find it challenging. Additionally, organizations must update their safety systems since HIPPSs must adhere to regulatory standards that are periodically revised in response to new regulations and technological improvements. For the deployment of safety systems and components, more money is needed.

Latest developments

• The ASCO Series 158 Gas Valve and Series 159 Motorised Actuator were released by Emerson in 2020. The new products provide OEMs, distributors, contractors, and end-users with a novel combustion safety shutdown valve option that improves flow and control while enhancing safety and dependability specifically for burner-boiler applications. In the case of a fuel train system failure, the new valve, which has a higher close-off pressure of 75 psi (5.2 Bar), assures a safe shutoff and does away with the need for additional safety components. The flow rate of the valve is twice as high as that of comparable combustion valves on the market. As a result, it has the highest BTU rating in the market and can handle a range of gas inlet pressures without affecting burner operation or performance. End connectors that do away with the requirement for piping unions and a ventless compatible monoblock design that not only eliminates the need for additional vent piping but also reduces greenhouse gas and vent emissions simplify installation.
• Exaquantum Safety Function Monitoring (SFM) software, an OpreXTM Asset Operations and Optimization solution that aids in determining whether actual operating performance fulfils safety design criteria, is getting a significant upgrade from Yokogawa Electric Corporation in 2021. To identify inconsistencies or problems in the performance of plant safety systems, SFM R3.35 offers continuous monitoring and review of safety data. SFM gathers all safety-related data, including information on independent protection layers (IPLs), starting causes, and overrides, as well as SIF activations and maintenance (proof testing), in order to monitor and analyze important performance indicators. This updated version supports the International Electrotechnical Commission (IEC) 61511* standard and comes with a number of additional features to assist SFM users in identifying possible safety hazards, streamlining maintenance tasks, and enhancing the design of safety solutions as a whole.

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Market Segmentation

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Market players

The main market players in the Global High Integrity Pressure Protection System Market are Rockwell Automation Inc., Emerson Electric Co., Schneider Electric SE, ABB Ltd, Siemens AG, Schlumberger NV, L&T Valves Limited, Mogas Industries Inc., Honeywell International, Inc., Yokogawa Electric Corporation.