The global high-integrity pressure protection system (HIPPS) market size is expected to grow by USD 56.53 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 4%. Request Free Sample Report on COVID-19 Impacts
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200907005068/en/
Technavio has announced its latest market research report titled Global High-Integrity Pressure Protection System (HIPPS) Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "High-Integrity Pressure Protection System (HIPPS) Market Analysis Report by End-user (Oil and gas, Chemicals and petrochemicals, Pharmaceuticals, and Others) and Geography (Europe, APAC, North America, MEA, and South America), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/high-integrity-pressure-protection-system-market-industry-analysis
The market is driven by the rise in midstream infrastructure. In addition, the introduction of safety PLC is anticipated to boost the growth of the High-Integrity Pressure Protection System (HIPPS) Market.
The rise in midstream infrastructure is one of the key factors driving the HIPPS market growth. In the midstream sector, production flowlines from the wellhead to the offshore storage facilities and to the end-users' processing plants are usually built to withstand high wellhead shut-in pressures, even if the pressure in the flowline is much lower under normal operating conditions. Building this pressure buffer into the system can be costly and may endanger economic feasibility. HIPPS circumvents this problem by downrating the pipeline pressure. It instantaneously closes the pipeline the moment a preset level is exceeded. HIPPS is equipped with control systems and valves that detect a wide range of safety conditions.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Major Five High-Integrity Pressure Protection System (HIPPS) Companies:
ABB Ltd.
ABB Ltd. has business operations under four segments such as electrification, industrial automation, motion, and robotics discrete automation. The company offers 800 A platform for DCS and control systems.
Emerson Electric Co.
Emerson Electric Co. operates its business through two segments: automation solutions, and commercial and residential solutions. The company offers a solution comprising of valves, actuators, and valve controller.
General Electric Co.
General Electric Co. has business operations under four segments: power, renewable energy, aviation, and healthcare. The company offers Semstar-5 Subsea Electronic Module (SEM) solution.
HIMA GmbH
HIMA GmbH operates its business through three segments: smart safety services, safety lifestyle services, and safety services. The company offers Distribution Control Systems for monitoring plants.
Honeywell International Inc.
Honeywell International Inc. has business operations under various segments such as aerospace, Honeywell Building Technologies, performance materials and technologies, and safety and productivity solutions. The company offers HIPPS system for flow control.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
High-Integrity Pressure Protection System (HIPPS) Market End-user Outlook (Revenue, USD mn, 2020-2024)
- Oil and gas size and forecast 2019-2024
- Chemicals and petrochemicals size and forecast 2019-2024
- Pharmaceuticals size and forecast 2019-2024
- Others size and forecast 2019-2024
High-Integrity Pressure Protection System (HIPPS) Market Regional Outlook (Revenue, USD mn, 2020-2024)
- Europe size and forecast 2019-2024
- APAC size and forecast 2019-2024
- North America size and forecast 2019-2024
- MEA size and forecast 2019-2024
- South America size and forecast 2019-2024
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200907005068/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/