Global Electric Arc Furnaces In-Depth Monitoring and Development Analysis Report 2023

Length- 129 Pages | Published Date - 2023-06-09 | Report Id- 2805
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In terms of market side, this report researches the Electric Arc Furnaces revenue, growth rate, market share by manufacturers, by type, by application and by region (region level and country level), from 2018 to 2023, and forecast to 2029.

This report aims to provide a comprehensive presentation of the global market for Electric Arc Furnaces, with and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Electric Arc Furnaces.

Within the research scope of this report, it shows that the global Electric Arc Furnaces market had a market size of about 1056.43 Million USD in 2022, growing at a CAGR of 6.28% during 2023-2029 to 1618.09 Million USD in 2029.

MARKET COMPETITIVE LANDSCAPE:
Major players in this market include SMS group GmbH, Primetals Technologies Limited, Danieli, Tenova Inc, IHI Corporation, and etc.
---The combined market share of the Top 3 players in the global Electric Arc Furnaces market is about 20.16%.

REGION SHARE:
The report covers the market size information of major Regions/Countries around the world, including NA/United States, EU/Germany, APAC/China, LA/SA, MEA and etc.
---In the geographical distribution of Electric Arc Furnaces market in 2022, the Asia Pacific has the largest market size and its market share is about 44.06%, followed by Europe and its market share is about 24.08%.

SEGMENT OVERVIEW:
This report conducts segment analysis on type and application level. Type segment includes AC-EAF, DC-EAF, etc. Application segment includes Metal smelting, Ore smelting, etc.
---DC-EAF contributes approximately 64.79% share to the market in 2022.
---Metal smelting contributes approximately 71.89% share to the market in 2022.

Report Includes:
This report presents an overview of global market for Electric Arc Furnaces. Analyses of the global market trends, with historic market revenue data for 2018 - 2022, estimates for 2023, and projections of CAGR through 2029.
This report researches the key players of Electric Arc Furnaces, also provides the consumption of main regions and countries. Highlights of the upcoming market potential for Electric Arc Furnaces, and key regions/countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.

This report focuses on the Electric Arc Furnaces market share and industry ranking of main players, data from 2018 to 2023. Identification of the major stakeholders in the global Electric Arc Furnaces market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

This report analyzes the segments data by Type and by Application, from 2018 to 2029. Evaluation and forecast the market size for Electric Arc Furnaces sales, projected growth trends, technology, application and end-user industry.

Market Trend:
Growing demand for sustainable steel production: Electric Arc Furnaces are considered a more sustainable and environmentally friendly alternative to traditional blast furnaces for steel production. EAFs use scrap metal as the primary raw material, reducing the reliance on iron ore and coke, and resulting in lower greenhouse gas emissions. The increasing focus on sustainable steel production and the drive towards reducing carbon footprints have led to a rise in the adoption of Electric Arc Furnaces.

Integration of advanced technologies: The Electric Arc Furnaces market has witnessed the integration of advanced technologies to enhance productivity, efficiency, and product quality. Automation, data analytics, and real-time monitoring systems are being incorporated into EAF operations to optimize energy consumption, improve process control, and reduce downtime. Additionally, advancements in electrode and refractory materials are being made to enhance furnace performance and extend service life.

Rising demand for specialty and high-quality steels: There is a growing demand for specialty and high-quality steels in various industries, including automotive, aerospace, construction, and energy. Electric Arc Furnaces offer flexibility in steel production, enabling manufacturers to produce a wide range of steel grades with precise chemical compositions and mechanical properties. The market trends reflect the increased demand for Electric Arc Furnaces capable of producing specialty steels to meet specific customer requirements.

Expansion of the electric vehicle (EV) industry: The global shift towards electric vehicles has had a significant impact on the Electric Arc Furnaces market. The production of electric vehicles requires a larger amount of steel compared to conventional internal combustion engine vehicles. This has led to increased steel demand and subsequently, the demand for Electric Arc Furnaces for steel production.

Government regulations and incentives: Government regulations and incentives aimed at reducing greenhouse gas emissions and promoting sustainable practices in the steel industry have influenced the Electric Arc Furnaces market. Countries around the world are implementing policies and initiatives to incentivize the adoption of Electric Arc Furnaces over conventional steelmaking processes. These measures encourage steel manufacturers to invest in EAF technology and drive market growth.

Focus on cost competitiveness and energy efficiency: Electric Arc Furnaces offer advantages in terms of cost competitiveness and energy efficiency compared to traditional steelmaking processes. EAFs have shorter startup times, lower capital investment requirements, and can operate at smaller scales, making them more suitable for regional steel production. The market trends reflect the demand for Electric Arc Furnaces that provide cost-effective steel production solutions while optimizing energy consumption and operational efficiency.

Highlights-Regions
North America
United States
Canada

Asia Pacific
China
Japan
Korea
Southeast Asia
India
Australia

Europe
Germany
France
UK
Italy
Russia
Spain
Nordic

South America
Brazil
Argentina
Colombia
Mexico

Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

Player list
SMS group GmbH
Primetals Technologies Limited
Danieli
Tenova Inc
IHI Corporation
Electrotherm (India) Ltd.
INTECO GROUP
Xi’an Tengye Metallurgical Engineering Co., Ltd.
STEEL PLANTECH
Doshi Technologies Pvt. Ltd
Edmund Bühler GmbH
BK-Services GmbH
SARRALLE
Others

Types list
AC-EAF
DC-EAF

Application list
Metal smelting
Ore smelting
Others

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Global Electric Arc Furnaces In-Depth Monitoring and Development Analysis Report 2023

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