Report Code: A16079 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the High-integrity Pressure Protection System (hipps) Market
Request Now !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
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.Â
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.Â
Key Benefits of the Report
High-Integrity Pressure Protection System (HIPPS) Market Report Highlights
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