According to the latest market research study by Technavio, the global HIPPS market is expected to grow at a CAGR of close to 7% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global HIPPS market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user
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The top three revenue contributing product segments are discussed below:
Global HIPPS market in oil and gas industry: HIPPS solutions play a vital role in the oil and gas industry by giving a clear protection to the accumulation of excess pressure and gas. With the implementation of HIPPS solutions, the oil and gas companies can cover the overpressure by shutting down the source thereby reducing the pressure in the onshore site.
“HIPPS are installed in the oil and gas onshore drilling in the wellhead platform to avoid the overpressure in the process lines if there is a closure of the valves in the central arrival complex. HIPPS also acts as a mistake proofing solution in case of accidental opening of the control valves,” says Bharath Kanniappan, a lead analyst at Technavio for research on automation.
Global HIPPS market in chemicals and petrochemicals industry: Pressure from statutory and regulatory frameworks ensures proper venting of combustible gases into the environment. Thus, with the implementation of HIPPS, the end-users can ensure that the gases are fed back to the process as feedstock or exposed to the environment in a proper form. HIPPS solutions are viable in the areas where determining the size of the relief valve becomes difficult due to the uncertainty of the different chemical reactions that the process can have over the life-cycle.
Global HIPPS market in the pharmaceutical industry: Technavio expects more production in the pharmaceutical industry, especially to cater to the need of emerging economies where several countries have increased their expenditure on the healthcare sector. Increasing expenditure in the healthcare sector will increase production in the pharmaceutical industry, leading to increased demand for HIPPS, as companies need to upgrade their old safety system with new and advanced safety systems.
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The top vendors operating in the global HIPPS market are:
- ABB
- Schneider Electric
- Rockwell Automation
- Yokogawa Electric
The other prominent vendors in the market include Emerson Electric, Esoterica Automation, GE, HIMA, Honeywell Process Solutions, Johnson Controls, Mokveld, Norgren, OMRON, RTP, Siemens, and Tyco International.
A more detailed analysis is available in the Technavio market research report titled, ‘Global HIPPS Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Pressure Relief Valves Market 2016-2020
- Global Valves and Manifolds Market 2016-2020
- Global Industrial Emergency Shutdown Systems Market 2016-2020
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