LONDON–(BUSINESS WIRE)–According to the latest research study released by Technavio, the global high-integrity pressure protection system (HIPPS) market is expected to reach close to USD 346.3 million in revenue by 2020.

This research report titled ‘Global High-integrity Pressure Protection System Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all leading regions.

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“The availability of oil and gas sources worldwide is not uniform and requires transportation from countries rich in oil and gas reserves, such as the UAE, the US, Russia, Iran, Algeria, Ecuador, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and Venezuela, to end-user countries. The transportation of crude oil and gas through pipelines requires HIPPS to control, protect, and manage the pipeline from over pressure. This system prevents the loss of oil or gas from explosion due to over-pressure within the pipeline distribution that expands to more than 400-1,000 miles across countries and passes through hostile areas,” said Bharath Kanniappan, one of Technavio’s lead analysts for automation research.

“As of 2015, shale gas supplies in North America have exceeded its demand and has therefore reduced oil and natural gas prices in the region. Hence, oil and gas producers in the Americas are looking for options to export energy to countries that are willing to pay higher prices than prevailing prices in the US or North American markets. This is a significant development that necessitates midstream infrastructure like pipelines and key supporting systems to export crude oil and natural gas,” added Bharath.

Global HIPPS market by end-users in 2015

Oil and gas: largest segment of the global HIPPS market

Exploration of new oil and gas fields and increased investments in pipelines and refineries in the Americas, EMEA, and APAC are likely to fuel market growth. The requirement for HIPPS in the oil and gas industry is expected to increase with the rise in offshore and shale-related exploration activities. Companies in the US and Europe need to adhere to the highest safety standards both inside and outside the plant.

Companies follow the IEC 61511 standard as the best practice for automatic safety systems in process industries. Strict government regulations and guidelines to maintain a high-security standard in the oil and gas industry will therefore propel the demand for HIPPS during the forecast period.

Chemical and petrochemical: second largest segment of the global HIPPS market

Waste treatment in the pharmaceutical industry involves liquid effluents from equipment cleaning after batch operation that contain toxic organic residues. Their composition varies depending on the products manufactured, materials used in the process, and other process details.

The production of pharmaceutical lines includes production of the active ingredient or drug and the conversion of active drugs into products that are suitable for administration. Primary processing involves storing and distributing chemicals to required chambers or vessels that involve high pressure. Thus, a safer environment in the plant requires HIPPS.

Global HIPPS market in other industries

Other industries include power, metal and mining, and foods and beverages. The nature of production processes in these industries involve the use of fluids, gases, and chemicals that require high industry standard of safety measures. Growing production processes in these industries will create more demand for HIPPS during the forecast period.

Most power stations in the US, China, and Europe are currently coal driven. The abundant availability of natural gas and declining prices are fueling investments in the power sector for natural gas powered power stations.

Technavio researchers expect most of the power stations in the US to be driven by natural gas by 2035. Similarly, China and Europe are predicted to follow the US in the adoption of natural gas as a feedstock for new power stations.

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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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