According to the latest research study released by Technavio, the global high-integrity pressure protection system (HIPPS) market is expected to reach close to US$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.
“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 - 1000 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.
Read the full report here.
Edited from source by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/21032016/technavio-oil-and-gas-pipelines-will-boost-hipps-demand/