High-Integrity Pressure Protection System Market by Components (Field Initiators, Logic Solvers, Valves, Actuators), Service (Maintenance and Training & Certification), Vertical (Oil & Gas, Power Generation, Chemical) - Global Forecast to 2022

  • ID: 3934569
  • Report
  • Region: Global
  • 155 Pages
  • Markets and Markets
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The High-Integrity Pressure Protection System (HIPPS) Market is Expected to Grow at a CAGR of 8.7% Between 2016 and 2022 to Reach USD 526.2 Million by 2022

FEATURED COMPANIES

  • ABB Ltd.
  • BEL Valves Ltd.
  • Emerson Electric Co.
  • General Electric Company
  • Mogas Industries, Inc.
  • Paladon Systems Ltd.
  • MORE

"Valves segment of the HIPPS market to exhibit significant growth potential between 2016 and 2022"

The High-Integrity Pressure Protection System (HIPPS) market is expected to grow at a CAGR of 8.7% between 2016 and 2022 to reach USD 526.2 million by 2022. The key driving factors for the growth of this market are growing demand for safety systems in the oil & gas industry, and the need of reliable safety systems for personnel & asset protection.

Valves are used as final safety devices which control the pressure and discharge a certain amount of fluid by themselves without any electric power. However, high acquisition cost of HIPPS and lack of awareness and complexity of standards are the major factors restraining the growth of this market.

"Market for training & certification service expected to grow at the highest rate during forecast period"

The HIPPS training & certification service market is expected to grow at the highest CAGR between 2016 and 2022. Appropriate training enables HIPPS supervisors to detect flaws with a high degree of accuracy and reliability without causing damage to structures or components. Technicians must be trained to recognize all failure types such as interfacing systems and associated failures must be assessed in detail.

"Oil & gas to account for the largest market share in the overall HIPPS market"

The oil & gas vertical is expected to account for the largest market share of the global HIPPS market in 2016. Safety is the most critical concern in the oil & gas industry, and a lack of proper safety systems in this industry could lead to production losses, and affect components and systems, and pose a hazard during system restoration. Moreover, the requirement for HIPPS in the oil & gas industry is expected to increase with the rise in offshore and shale-related exploration activities.

"APAC to be the fastest-growing market for HIPPS during the forecast period"

The market for HIPPS in the APAC region is expected to grow at the highest CAGR between 2016 and 2022. With growing industrialization, increasing emphasis on safety by the organizations, and influence of multinational companies in adoption of safety systems are driving the demand for HIPPS in the APAC region.

Break-up of the profiles of primary participants for the report has been given below:

- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
- By Designation: C-Level Executives - 65%, Directors- 35%
- By Region: North America - 20%, Europe - 35%, APAC - 35%, and RoW - 10%

The key players in the market include Rockwell Automation (U.S.), Schneider Electric SE (France), Emerson Electric Company (U.S.), Yokogawa Electric Corporation (Japan), and Schlumberger Limited (U.S.). ABB Ltd. (Switzerland), General Electric Company (U.S.), HIMA Paul Hildebrandt GmbH (Germany), Siemens AG (Germany), Mogas Industries Inc. (U.S.), Velan ABV S.p.A. (Italy), and Paladon Systems Ltd. (U.K.)).

Research Coverage:

The research report on the global HIPPS market covers different segments, namely, component, service, vertical, and geography. The market has been segmented on the basis of component into field initiators, logic solvers, valves, actuators, and so on. On the basis of service, the HIPPS market has been classified into maintenance and training & certification. Further, the HIPPS market has been segmented on the basis of vertical into chemicals, food & beverages, power generation, metals & mining, oil & gas, pharmaceutical, and pulp & paper. The report covers four major geographical regions; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:

- Illustrative segmentation, analysis, and forecast for the market based on component, service, vertical, and geography have been conducted to give an overall view of the HIPPS market.
- The Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the HIPPS market.
- The major drivers, restraints, opportunities, and challenges for the HIPPS market have been detailed in this report.
- The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.

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FEATURED COMPANIES

  • ABB Ltd.
  • BEL Valves Ltd.
  • Emerson Electric Co.
  • General Electric Company
  • Mogas Industries, Inc.
  • Paladon Systems Ltd.
  • MORE
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Introduction
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data Points From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Lucrative Opportunities in the HIPPS Market
4.2 HIPPS Market, By Component
4.3 Market Share of Major Countries, 2015
4.4 High-Integrity Pressure Protection System Market
4.5 HIPPS Market, By Service
4.6 HIPPS Market, By Vertical
4.7 HIPPS Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 HIPPS Market, By Component
5.2.2 HIPPS Market, By Service
5.2.3 HIPPS Market, By Vertical
5.2.4 HIPPS Market, By Geography
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Rising Need of Reliable Safety Systems for Personnel & Asset Protection
5.3.1.2 Growing Demand for Safety Systems in Downstream Oil & Gas Industry
5.3.2 Restraints
5.3.2.1 Lack of Awareness and Complexity of Standards
5.3.2.2 High Acquisition Cost of High-Integrity Pressure Protection System
5.3.3 Opportunities
5.3.3.1 Mechanical HIPPS Provides Cost-Effective and Reliable Pressure Protection in Subsea
5.3.4 Challenges
5.3.4.1 Increasing Complexity of Safety Applications

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Porter’s Five Forces Analysis
6.3.1 Threat of New Entrants
6.3.2 Threat of Substitutes
6.3.3 Bargaining Power of Suppliers
6.3.4 Bargaining Power of Buyers
6.3.5 Intensity of Competitive Rivalry

7 HIPPS Safety Standards
7.1 Introduction
7.2 Safety Integrity Level (Sil)
7.3 IEC 61508 and IEC 61511 Standards
7.3.1 IEC 61508
7.3.2 IEC 61511

8 HIPPS Market, By Service
8.1 Introduction
8.2 Maintenance
8.3 Training & Certification

9 HIPPS Market, By Component
9.1 Introduction
9.2 Logic Solvers
9.3 Valves
9.4 Actuators
9.5 Field Initiators
9.6 Others

10 HIPPS Market, By Application
10.1 Introduction
10.2 Power Generation
10.2.1 Fossil Fuel
10.2.2 Nuclear
10.2.3 Renewable
10.3 Oil & Gas
10.3.1 Upstream
10.3.2 Midstream
10.3.3 Downstream
10.4 Chemical
10.5 Metal & Mining
10.6 Paper & Pulp
10.7 Pharmaceutical
10.8 Food & Beverage
10.9 Others

11 HIPPS Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 U.K.
11.3.3 France
11.3.4 Italy
11.3.5 RoE
11.4 Asia-Pacific
11.4.1 China
11.4.2 Japan
11.4.3 South Korea
11.4.4 India
11.4.5 Roapac
11.5 Rest of the World
11.5.1 Middle East
11.5.2 South America
11.5.3 Africa

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis: HIPPS Market
12.3 Competitive Situations and Trends for HIPPS Market
12.3.1 New Product Launches
12.3.2 Contracts, Partnerships, and Agreements
12.3.3 Mergers & Acquisitions

13 Company Profiles
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments) -
13.1 Introduction
13.2 Emerson Electric Co.
13.3 Rockwell Automation, Inc.
13.4 Schneider Electric SE
13.5 Schlumberger Limited
13.6 Yokogawa Electric Corporation
13.7 ABB Ltd.
13.8 General Electric Company
13.9 Siemens AG
13.10 BEL Valves Ltd.
13.11 HIMA Paul Hildebrandt GmbH
13.12 Mogas Industries, Inc.
13.13 Velan ABV S.P.A.
13.14 Paladon Systems Ltd.
  • Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.
List of Tables

Table 1 High-Integrity Pressure Protection System Market Size, 2013-2022 (USD Million)
Table 2 Sil and Related Measures
Table 3 Difference Between IEC 61508 and IEC 61511
Table 4 High-Integrity Pressure Protection System Market Size, By Service, 2013-2022 (USD Million)
Table 5 High-Integrity Pressure Protection System Market Size, By Component, 2013-2022 (USD Million)
Table 6 High-Integrity Pressure Protection System Market Size, By Component, 2013-2022 (Thousand Units)
Table 7 Logic Solver Market for Power Generation, By Region, 2013-2022 (USD Million)
Table 8 Logic Solver Market for Oil & Gas, By Region, 2013-2022 (USD Million)
Table 9 Logic Solver Market for Chemical, By Region, 2013-2022 (USD Million)
Table 10 Logic Solver Market for Metal & Mining, By Region, 2013-2022 (USD Million)
Table 11 Logic Solver Market for Paper & Pulp, By Region, 2013-2022 (USD Million)
Table 12 Logic Solver Market for Pharmaceutical, By Region, 2013-2022 (USD Million)
Table 13 Logic Solver Market for Food & Beverage, By Region, 2013-2022 (USD Million)
Table 14 Logic Solver Market for Others, By Region, 2013-2022 (USD Million)
Table 15 Valves Market for Power Generation, By Region, 2013-2022 (USD Million)
Table 16 Valves Market for Oil & Gas, By Region, 2013-2022 (USD Million)
Table 17 Valves Market for Chemical, By Region, 2013-2022 (USD Million)
Table 18 Valves Market for Metal & Mining, By Region, 2013-2022 (USD Million)
Table 19 Valves Market for Paper & Pulp, By Region, 2013-2022 (USD Million)
Table 20 Valves Market for Pharmaceutical, By Region, 2013-2022 (USD Million)
Table 21 Valves Market for Food & Beverage, By Region, 2013-2022 (USD Million)
Table 22 Valves Market for Others, By Region, 2013-2022 (USD Million)
Table 23 Actuators Market for Power Generation, By Region, 2013-2022 (USD Million)
Table 24 Actuators Market for Oil & Gas, By Region, 2013-2022 (USD Million)
Table 25 Actuators Market for Chemical, By Region, 2013-2022 (USD Million)
Table 26 Actuators Market for Metal & Mining, By Region, 2013-2022 (USD Million)
Table 27 Actuators Market for Paper & Pulp, By Region, 2013-2022 (USD Million)
Table 28 Actuators Market for Pharmaceutical, By Region, 2013-2022 (USD Million)
Table 29 Actuators Market for Food & Beverage Manufacturing, By Region, 2013-2022 (USD Million)
Table 30 Actuators Market for Others, By Region, 2013-2022 (USD Million)
Table 31 Field Initiators Market for Power Generation, By Region, 2013-2022 (USD Million)
Table 32 Field Initiators Market for Oil & Gas, By Region, 2013-2022 (USD Million)
Table 33 Field Initiators Market for Chemical, By Region, 2013-2022 (USD Million)
Table 34 Field Initiators Market for Metal & Mining, By Region, 2013-2022 (USD Million)
Table 35 Field Initiators Market for Paper & Pulp, By Region, 2013-2022 (USD Million)
Table 36 Field Initiators Market for Pharmaceutical, By Region, 2013-2022 (USD Million)
Table 37 Field Initiators Market for Food & Beverage Manufacturing, By Region, 2013-2022 (USD Million)
Table 38 Field Initiators Market for Others, By Region, 2013-2022 (USD Million)
Table 39 Others Market for Power Generation, By Region, 2013-2022 (USD Million)
Table 40 Others Market for Oil & Gas, By Region, 2013-2022 (USD Million)
Table 41 Others Market for Chemical, By Region, 2013-2022 (USD Million)
Table 42 Others Market for Metal & Mining, By Region, 2013-2022 (USD Million)
Table 43 Others Market for Paper & Pulp, By Region, 2013-2022 (USD Million)
Table 44 Others Market for Pharmaceutical, By Region, 2013-2022 (USD Million)
Table 45 Others Market for Food & Beverage, By Region, 2013-2022 (USD Million)
Table 46 Other Components Market for Other Verticals, By Region, 2013-2022 (USD Million)
Table 47 High-Integrity Pressure Protection System Market Size, By Vertical, 2013-2022 (USD Million)
Table 48 HIPPS Market Size for Power Generation,, By Component, 2013-2022 (USD Million)
Table 49 High-Integrity Pressure Protection System Market Size, By Power Generation Type, 2013-2022 (USD Million)
Table 50 HIPPS Market Size for Oil & Gas, By Component, 2013-2022 (USD Million)
Table 51 High-Integrity Pressure Protection System Market Size, By Oil & Gas Type, 2013-2022 (USD Million)
Table 52 HIPPS Market Size for Chemical By Component, 2013-2022 (USD Million)
Table 53 HIPPS Market Size for Metal & Mining, By Component, 2013-2022 (USD Million)
Table 54 HIPPS Market Size for Paper & Pulp, By Component, 2013-2022 (USD Million)
Table 55 HIPPS Market Size for Pharmaceutical, By Component, 2013-2022 (USD Million)
Table 56 HIPPS Market Size for Food & Beverage, By Component, 2013-2022 (USD Million)
Table 57 HIPPS Market Size for Others, By Component, 2013-2022 (USD Million)
Table 58 High-Integrity Pressure Protection System Market Size, By Region, 2013-2022 (USD Million)
Table 59 North America HIPPS Market, By Country, 2013-2022 (USD Million)
Table 60 North America HIPPS Market, By Vertical, 2013-2022 (USD Million)
Table 61 Europe HIPPS Market, By Country, 2013-2022 (USD Million)
Table 62 Europe HIPPS Market, By Vertical, 2013-2022 (USD Million)
Table 63 APAC HIPPS Market, By Country, 2013-2022 (USD Million)
Table 64 APAC HIPPS Market, By Vertical, 2013-2022 (USD Million)
Table 65 RoW HIPPS Market, By Region, 2013-2022 (USD Million)
Table 66 RoW HIPPS Market, By Vertical, 2013-2022 (USD Million)
Table 67 Ranking of the Top 5 Players in the HIPPS Market, 2015
Table 68 New Product Launches, 2014-2016
Table 69 Contracts, Partnerships, and Agreements, 2014-2016
Table 70 Mergers & Acquisitions, 2013-2016

List of Figures

Figure 1 High Integrity Pressure Protection System Market Segmentation
Figure 2 Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 HIPPS Market Size, 2013-2022 (USD Million)
Figure 7 Valves Component of HIPPS Expected to Dominate the Market During the Forecast Period
Figure 8 HIPPS Market Snapshot, By Service (2016 vs 2022)
Figure 9 Power Generation Vertical to Exhibit High Growth Between 2016 and 2022
Figure 10 North America Expected to Hold the Major Share of the HIPPS Market During the Forecast Period
Figure 11 Power Generation Sector to Drive the HIPPS Market Between 2016 and 2022
Figure 12 Valves to Hold the Largest Market Size During the Forecast Period
Figure 13 The U.S. Held the Largest Share of the HIPPS Market in 2015
Figure 14 North America Dominated the HIPPS Market in 2015
Figure 15 Maintenance Service Segment Held A Larger Share Than Training & Certification Service of the HIPPS Market in 2015
Figure 16 Power Generation Vertical Expected to Grow at the Highest CAGR in HIPPS Market During the Forecast Period
Figure 17 APAC HIPPS Market Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 Market, By Geography
Figure 19 HIPPS Market Dynamics
Figure 20 Value Chain Analysis: Major Value is Added During the Design of HIPPS and Its Validation Phase
Figure 21 Porter’s Five Forces Analysis: HIPPS Market, 2015
Figure 22 Threat of New Entrants has Medium Impact Due to the Requirement of Huge Investment
Figure 23 Threat of Substitutes has A Low Impact and Would Remain Low in the Future
Figure 24 Bargaining Power of Suppliers is High as Stringent Safety Standards are Required to Be Followed for Designing HIPPS
Figure 25 Bargaining Power of Buyers in the HIPPS Market is Medium
Figure 26 Intensity of Competitive Rivalry Had A High Impact on the HIPPS Market in 2015
Figure 27 HIPPS Market, By Service
Figure 28 Training & Certification Service Segment Expected to Grow at A Higher Rate in HIPPS Service Market Between 2016 and 2022
Figure 29 Failure Data Validation for HIPPS
Figure 30 Components of HIPPS
Figure 31 Valves Segment Expected to Dominate the HIPPS Component Market During the Forecast Period
Figure 32 Logic Solver Market for Power Generation Vertical in APAC Expected to Grow at the Highest Rate During the Forecast Period
Figure 33 North America Dominated the Valves Market for Oil & Gas Vertical in 2015
Figure 34 HIPPS Market, By Vertical
Figure 35 HIPPS Market for Power Generation Vertical Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 36 Valves Segment Expected to Lead the HIPPS Market for the Power Generation Application By 2022
Figure 37 Valves Segment Expected to Hold the Largest Market Size in HIPPS Market for Oil & Gas Vertical By 2022
Figure 38 Valves Segment Expected to Grow at the Highest Rate in HIPPS Market for Pharmaceutical Vertical During the Forecast Period
Figure 39 Valves Segment Accounted for the Largest Share of HIPPS Market for Food & Beverage Vertical in 2015
Figure 40 HIPPS Market in India Expected to Grow at the Fastest Rate During the Forecast Period
Figure 41 North America HIPPS Market Overview
Figure 42 Power Generation Vertical Expected to Grow at the Highest Rate During the Forecast Period
Figure 43 Europe HIPPS Market Overview, 2015
Figure 44 Germany Expected to Dominate the Europe HIPPS Market Till 2022
Figure 45 HIPPS Market Overview in APAC
Figure 46 Oil & Gas Vertical Expected to Dominate the HIPPS Market in APAC During the Forecast Period
Figure 47 RoW: Market Snapshot, 2015
Figure 48 Companies Adopted New Product Developments as the Key Growth Strategy Between 2014 and 2016
Figure 49 Battle for Market Share: Contracts/Agreements/Partnerships: the Key Strategies Adopted By the Players Between 2014 and 2016
Figure 50 Geographic Revenue Mix of the Top 5 Players (2015)
Figure 51 Emerson Electric Co.: Company Snapshot
Figure 52 Emerson Electric Co.: SWOT Analysis
Figure 53 Rockwell Automation, Inc.: Company Snapshot
Figure 54 Rockwell Automation, Inc.: SWOT Analysis
Figure 55 Schneider Electric SE: Company Snapshot
Figure 56 Schneider Electric SE: SWOT Analysis
Figure 57 Schlumberger Limited: Company Snapshot
Figure 58 Schlumberger Limited: SWOT Analysis
Figure 59 Yokogawa Electric Corporation: Company Snapshot
Figure 60 Yokogawa Electric Corporation: SWOT Analysis
Figure 61 ABB Ltd.: Company Snapshot
Figure 62 General Electric Company: Company Snapshot
Figure 63 Siemens AG: Company Snapshot
Note: Product cover images may vary from those shown
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- ABB Ltd.
- BEL Valves Ltd.
- Emerson Electric Co.
- General Electric Company
- HIMA Paul Hildebrandt GmbH
- Mogas Industries, Inc.
- Paladon Systems Ltd.
- Rockwell Automation, Inc.
- Schlumberger Limited
- Schneider Electric SE
- Siemens AG
- Velan ABV S.P.A.
- Yokogawa Electric Corporation

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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