Global High-Integrity Pressure Protection System Market to grow at a CAGR of 7.4% during the period 2017-2021

Market Research analysts forecast the global high-integrity pressure protection system market to grow at a CAGR of 7.4% during the period 2017-2021.

According to the report, one of the major drivers for this market is rise in midstream infrastructure. In the midstream sector, production flowlines from the wellhead to the offshore storage facilities and to the end-users' processing plants are usually built to withstand high wellhead shut-in pressures, even if the pressure in the flowline is much lower under normal operating conditions. Building this pressure buffer into the system can be costly and may endanger economic feasibility. HIPPS circumvents this problem by downrating the pipeline pressure.

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Further, the report states that one of the major factors hindering the growth of this market is capital expenditure cuts by major oil and gas industry. The oil and gas industry is one of the major end-users of HIPPS and other safety systems products. Both international and regional oil companies are negotiating aggressively to draw discounts from automation service providers. While companies are trying their best to deal with the market downturn by reducing capital expenditure, factors such as exiting equity capital, expected crew change, and stringent environmental concerns continue to add pressure on enterprise operations.

About high-integrity pressure protection system

HIPPS is a type of safety instrumented system (SIS) that is used to safeguard a process to prevent a catastrophic release of flammable, toxic or explosive chemicals. Traditionally, in industrial plants, flare or relief systems are used for burning off flammables gases that are released through pressure relief valves during unplanned over-pressurization of plant equipment.

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Covered in this report

The report covers the present scenario and the growth prospects of the global high-integrity pressure protection system market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales and the aftermarket services of HIPPS in the oil and gas, chemicals and petrochemicals, pharmaceuticals, power, metal and mining, and foods and beverages industries.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

Global High-Integrity Pressure Protection System Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
ABB
Schneider Electric
Rockwell Automation
Yokogawa Electric
Other prominent vendors
Emerson Electric
Esoterica Automation
GE
HIMA
Honeywell Process Solutions
Johnson Controls
Mokveld
Norgren
OMRON
RTP
Siemens
Tyco International
Market driver
Rise in midstream infrastructure
For a full, detailed list, view our report

Market challenge
Capital expenditure cuts by major oil and gas industry
For a full, detailed list, view our report

Market trend
Introduction of safety PLC
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this 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 key vendors?
What are the strengths and weaknesses of the key vendors?

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