| Product Code: ETC4583065 | Publication Date: Jul 2023 | Product Type: Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India high-integrity pressure protection system (HIPPS) market import shipments demonstrated a robust growth trend with a CAGR of 11.3% from 2020 to 2024. The growth rate between 2023 and 2024 slightly decelerated to 6.1%, indicating a steady expansion with a positive momentum in the market during the period.
High-Integrity Pressure Protection Systems (HIPPS) are critical safety systems designed to protect pipelines and process facilities from overpressure events. The HIPPS market in India is evolving in response to safety regulations and the need to prevent accidents and environmental damage in industries such as oil and gas. These systems use advanced sensors and control logic to rapidly shut off the flow of hazardous materials in case of overpressure, minimizing the risk of catastrophic incidents. With the growing focus on process safety and the expansion of critical infrastructure, the HIPPS market is expected to see continued growth and adoption in India.
The India High Integrity Pressure Protection System (HIPPS) market is growing as industries focus on safety and risk mitigation in high-pressure applications, such as oil and gas production and refining. HIPPS ensures that pressure levels remain within safe limits to prevent accidents and equipment damage. Regulatory requirements and industry standards are driving the adoption of HIPPS, especially in critical processes where safety is paramount. As India continues to expand its energy infrastructure, the need for advanced safety systems like HIPPS is expected to increase.
The high integrity pressure protection system (HIPPS) market in India faces challenges related to infrastructure and risk assessment. Implementing HIPPS solutions requires careful risk analysis and customization to specific industrial processes. Additionally, some industries may lack the necessary infrastructure for effective HIPPS implementation, leading to concerns about system reliability. To promote HIPPS adoption, companies must provide comprehensive risk assessments and ensure the compatibility of these systems with existing infrastructure.
The HIPPS market in India faced challenges during the COVID-19 crisis as capital-intensive projects and investments were deferred. However, the long-term outlook for the HIPPS market remained positive, as industries recognized the importance of safety systems and risk mitigation in critical operations.
Noteworthy players in the HIPPS market in India involve Emerson Electric, ABB, Yokogawa India, and Honeywell Process Solutions, offering safety solutions for high-pressure processes.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India High-Integrity Pressure Protection System (HIPPS) Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, 2021 & 2031F |
3.3 India High-Integrity Pressure Protection System (HIPPS) Market - Industry Life Cycle |
3.4 India High-Integrity Pressure Protection System (HIPPS) Market - Porter's Five Forces |
3.5 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.6 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume Share, By Types, 2021 & 2031F |
3.7 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume Share, By Service, 2021 & 2031F |
4 India High-Integrity Pressure Protection System (HIPPS) Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing focus on industrial safety regulations and standards in India |
4.2.2 Growing demand for high-integrity pressure protection systems in key industries such as oil gas, chemical, and pharmaceutical |
4.2.3 Rising awareness about the benefits of implementing high-integrity pressure protection systems for preventing accidents and equipment damage |
4.3 Market Restraints |
4.3.1 High initial investment required for installing high-integrity pressure protection systems |
4.3.2 Lack of skilled professionals for the maintenance and operation of these systems in India |
5 India High-Integrity Pressure Protection System (HIPPS) Market Trends |
6 India High-Integrity Pressure Protection System (HIPPS) Market, By Types |
6.1 India High-Integrity Pressure Protection System (HIPPS) Market, By Component |
6.1.1 Overview and Analysis |
6.1.2 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By Component, 2021-2031F |
6.1.3 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By Field Initiator, 2021-2031F |
6.1.4 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By Logic Solver, 2021-2031F |
6.1.5 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By Valves, 2021-2031F |
6.1.6 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By Actuators, 2021-2031F |
6.2 India High-Integrity Pressure Protection System (HIPPS) Market, By Types |
6.2.1 Overview and Analysis |
6.2.2 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By Electronic HIPPS, 2021-2031F |
6.2.3 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By Mechanical HIPPS, 2021-2031F |
6.3 India High-Integrity Pressure Protection System (HIPPS) Market, By Service |
6.3.1 Overview and Analysis |
6.3.2 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By Maintenance, 2021-2031F |
6.3.3 India High-Integrity Pressure Protection System (HIPPS) Market Revenues & Volume, By TIC, 2021-2031F |
7 India High-Integrity Pressure Protection System (HIPPS) Market Import-Export Trade Statistics |
7.1 India High-Integrity Pressure Protection System (HIPPS) Market Export to Major Countries |
7.2 India High-Integrity Pressure Protection System (HIPPS) Market Imports from Major Countries |
8 India High-Integrity Pressure Protection System (HIPPS) Market Key Performance Indicators |
8.1 Percentage increase in the number of industrial accidents prevented by high-integrity pressure protection systems |
8.2 Adoption rate of safety standards and regulations in industries using high-integrity pressure protection systems |
8.3 Rate of growth in the number of training programs for professionals in India focused on high-integrity pressure protection systems |
9 India High-Integrity Pressure Protection System (HIPPS) Market - Opportunity Assessment |
9.1 India High-Integrity Pressure Protection System (HIPPS) Market Opportunity Assessment, By Component, 2021 & 2031F |
9.2 India High-Integrity Pressure Protection System (HIPPS) Market Opportunity Assessment, By Types, 2021 & 2031F |
9.3 India High-Integrity Pressure Protection System (HIPPS) Market Opportunity Assessment, By Service, 2021 & 2031F |
10 India High-Integrity Pressure Protection System (HIPPS) Market - Competitive Landscape |
10.1 India High-Integrity Pressure Protection System (HIPPS) Market Revenue Share, By Companies, 2024 |
10.2 India High-Integrity Pressure Protection System (HIPPS) Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |