Tower Internals Market 2024-2028
The tower internals market is forecasted to grow by USD 1130.7 mn during 2023-2028, accelerating at a CAGR of 12.1% during the forecast period. The report on the tower internals market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing capacity of crude oil refineries, growing demand for solvent distillation in chemical and pharmaceutical manufacturing, and advancements in tower internals designs and process configuration.
Technavio's tower internals market is segmented as below:
- By Product
- Liquid distributor
- Liquid collector
- Support and locating grids
- Others
- By Application
- Fine chemical
- Petrochemical
- Petroleum
- Others
- By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the merger and acquisition as primary growth strategy as one of the prime reasons driving the tower internals market growth during the next few years. Also, growing use of advanced simulation software in designing and growing use of carbon-capturing technologies will lead to sizable demand in the market.
The report on the tower internals market covers the following areas:
- Tower internals market sizing
- Tower internals market forecast
- Tower internals market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading tower internals market vendors that include Aluwind AS, AMACS Process Tower Internals, Beijing Zehua Chemical Engineering Co. Ltd., Finepac Structures Pvt. Ltd., GTI Holdings Pte. Ltd., HAT International Ltd., Koch Industries Inc., Kuber Precision Technology, Lantec Products Inc., Mass Transfer Ltd., Matsui Machine Ltd., MTPI Products Pvt. Ltd., Munters Group AB, RASCHIG GmbH, RVT Process Equipment GmbH, Sepco Process Inc., Sulzer Ltd., Sumitomo Heavy Industries Ltd., Tsukishima Kankyo Engineering Ltd., and Woven Metal Products Inc.. Also, the tower internals market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.