High-Integrity Pressure Protection System (HIPPS) Market

High-integrity pressure protection system (HIPPS) is a safety instrument system that shuts off the source and captures the pressure on the upstream side of the system to minimize overpressure created during hazardous processes, primarily in oil and gas industries. A safety system is used in process industries to avoid loss of containment when a vessel or pipeline ruptures due to overpressure. Relief systems can be used to relieve overpressure, but discharging flammable, explosive, dangerous, or toxic process fluids into the surrounding environment can be harmful to people and the environment. Mechanical relief devices was necessary when connecting new gas production wells to gas plant facility to safeguard gas production facilities or pipelines. New production wells connected to existing pipelines protect the pipeline from potential overpressures that can cause unwanted combustion of hydrocarbons released into the atmosphere through the flare system.

Market Scope and Structure Analysis

Description

HIPPS has a variety of components such as field initiator, valve, logic solver, solenoids, software, alarms, manifolds, and actuator. Valves are used to manage pressure in industrial plants and release a certain volume of steam or gas without electricity. When a hazardous event is detected, the valves trigger or stop the external hydrocarbons (gases) or flow of any toxic fluid. Logic solvers are very efficient, adaptable, secure, and dependable, and this pressure protections are simple to install. Many industry-standard application and safety regulations require one or more single loop logic solvers that provide programmers with flexibility and ease of use.

COVID-19 Impact analysis

• The COVID-19 pandemic halted the production of various products in the High-integrity pressure protection system industry, which is attributed to the lockdown in countries worldwide. This has hampered the growth of intelligent pump market from the last few months and is likely to continue through 2022.
• COVID-19 affected the sales of high-integrity pressure protection system in the first quarter of 2022 and is anticipated to have a negative impact on the market growth throughout the year.
• The major demand for high-integrity pressure protection system was previously noticed from giant manufacturing countries, such as North America, Europe, Asia-Pacific, and South America, which are negatively affected by the spread of the coronavirus, thereby declining the demand for pressure protection systems.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. High-integrity pressure protection system manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
• High-integrity pressure protection system manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distance, and ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

HIPPS is a safety-instrumented system designed to prevent over-pressurization in oil & gas industry, pipeline systems, and refinery. HIPPS makes use of an oil & gas industry system design and integration skills.
Key factors driving high-integrity pressure protection market include imposing government regulatory norms regarding safety and security at process & manufacturing plants; countries around the world focusing more on venting reduction programs; gas flaring; and rising demand for safety solutions for employees, workers, and asset protection in high-pressure environments. 
Furthermore, key players are focusing on manufacturing unique products and solutions, which is anticipated to provide lucrative growth opportunity in HIPPS market in the coming years. 

• In March 2019, IMA introduced HiJunction Box to expand its Smart Safety Segment. HIJunction Box is used either as part of the HIMA Smart Safety Platform or as an add-on to other control systems. The standardized and modular design provides plant operators with extra cost-effectiveness and installation planning benefits. The HIJunctionBox is further suitable for usage in severe environments.
• In July 2020, MOGAS Industries Inc. acquired Watson Valve, a U.S.-based service valves manufacturer, to provide coating and pressure control related repairs and services. Watson Valve installs more than 3,400 valves globally in mining, chemical, and oil & gas industries. 
• In February 2020, Emerson introduced ASCO 158 Gas Valve Series and 159 Motorized Actuator. ASCO developed new valves specifically for burner in boiler applications. End users and distributors now have a new combustion safety shutdown valve option that improves flow and control while increasing safety and dependability.

Key Benefits of the Report

• This study presents the analytical depiction of the high-integrity pressure protection system industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, opportunities, and market share of high-integrity pressure protection system.
• The current market is quantitatively analyzed to highlight the high-integrity pressure protection system growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed high-integrity pressure protection system analysis based on competitive intensity and how the competition will take shape in coming years.

 High-Integrity Pressure Protection System (HIPPS) Market Report Highlights