Tower Internals Market to grow by USD 828.89 million from 2022 to 2027

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30 Aug, 2023, 19:00 ET

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NEW YORK, Aug. 30, 2023 /PRNewswire/ -- The tower internals market is estimated to grow by USD 828.89 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 10.15%. The growth momentum will progress during the forecast period. The growing capacity of crude oil refineries is a key factor driving market growth. The expansion of the distillation towers of crude oil refineries is crucial for converting crude oil into various petroleum products. At these towers, heated crude oil enters the distillation column, recovering components such as gasoline, LPG, naphtha, kerosene, and jet fuel, and distillates at different temperatures. In addition, regular maintenance and upgrades of the tower's internal components are essential to maintaining efficiency and reliability. Hence, these factors are expected to drive market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Tower Internals Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on the product (liquid distributor, liquid collector, support and locating grids, and others), application (fine chemical, petrochemical, petroleum, and other), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Tower Internals Market – Market Dynamics

Major Trends - M&A as a primary growth strategy is a major trend in the market.

Significant Challenge - Issues related to designing highly complex distillation systems are a significant challenge restricting market growth.

Insights on Market Drivers, trends, and challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

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Tower Internals Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 10.15%

Market growth 2023-2027

USD 828.89 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.85

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 41%

Key countries

US, China, Japan, Germany, and Russia

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

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 Management Ltd., Sumitomo Heavy Industries Ltd., Tsukishima Kankyo Engineering Ltd., and Woven Metal Products Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About USTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio