This research report provides a comprehensive analysis of the global HIPPS market by end user (oil and gas, chemical and petrochemical, pharmaceutical and others). It presents a detailed segmentation of the market share of regions including EMEA, APAC and the Americas. The key vendors analyzed in this research report are ABB, Rockwell Automation, Schneider Electric, Siemens, and Yokogawa Electric.
Technavio’s market research analysts estimate the global HIPPS market to grow at a CAGR of around 8% between 2016 and 2020. Growing demand for oil and gas and chemicals products worldwide has increased the exploration and need for safety equipment system such as high-integrity pressure protection system market (HIPPS) to monitor and process high pressure. HIPPS are widely used in process industries as the most preferred pressure protection system. These systems provide better reliability in high-pressure accidents. EMEA leads the global HIPPS market, accounting for 42% of the overall market share. The rising demand from the oil and gas, chemical and petrochemicals, and pharmaceutical industries is boosting the growth of HIPPS market in the region.
The new market research report from Technavio provides a breakdown and analysis of the HIPPS segments by technology.
“Increase in regulatory attention across process industries such as power, mining and metals, oil and gas, water and wastewater, and chemicals, have necessitated the use of HIPPS. Several nations have imposed stringent regulations on oil and gas exploration to ensure employee safety and environmental care. Deployment of HIPPS helps in these industries will prevent leakage of toxic substances into atmosphere,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research
Oil and gas sector is the major end-user of HIPPS, occupying around 43% of the total market share. Exploration of new oil and gas fields and increased investments in pipelines and refineries across the world has boosted the HIPPS market. Rise in offshore and shale-related exploration activities have accelerated the demand for high-quality protection systems. Moreover, the oil and gas sector has to comply with high-security standards, owing to strict government regulations and guidelines, which is propelling the growth of HIPPS market in this segment.
The leading vendors in the global HIPPS market are ABB, Rockwell Automation, Schneider Electric, Siemens, and Yokogawa Electric. The market is dominated by these major players who hold the majority of market share due to their high brand value and expertise in the automation sector. Intense competition prevails in this market, owing to the presence of several automation solution providers offering complete end-to-end integration and services for safety solutions.
A more detailed analysis is available in the Technavio report, Global HIPPS Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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