Electric Arc Furnaces Market is expected to grow at a CAGR of 11.25% during the forecast period. Global Electric Arc Furnaces Market is expected to reach US$ 1445.1 Mn. by 2029.Electric Arc Furnaces Market Introduction
Electric arc furnace has developed significantly over the past 30 years. In the steel industry, an electric arc furnace (EAF), referred to as a mini mill. The mini mill is charged with almost 100% scrap. EAFs rapidly evolved due to their lower production costs, lower impact on the environment, and lower price of raw materials in comparison to the blast furnaces. In addition to scrap, the EAF is charged by direct-reduced-iron (DRI) and fluxes. The main heat source in EAF is electric arcs formed between electrodes and bath. Heat is transferred to the bath through four mechanisms, convection, and radiation.To Know About The Research Methodology :- Request Free Sample Report
Electric Arc Furnaces Market Dynamics
One of the primary growth drivers for this market is the lower investment requirements of the EAF route than the BF-BOF route. In 2018, approximately 70-75% of the global steel, output originated from the BF-BOF route. The BF-BOF route or the integrated steel plant needs a huge capital expenditure in securing the supplies of coking coal, iron ore, and limestone. Additionally, investments in railroads are also required to carry raw materials to the integrated steel plants and to carry the finished steel to end-user industries. The EAF route requires less capital expenditure when compared to the BF-BOF route for a required output of steel. 25% of the metallics requested by the EAF industry are satisfied with DRI/HBI, pig iron, and hot metal. Gas-based direct reduction dominates the DRI (Direct reduced Iron) captive plants, which are in countries with availability of natural gas and electricity at low cost. India, Iran, Mexico, Saudi Arabia, and Russia has been the top DRI producer. Artificial graphite electrodes are currently a standard in EAF operations. Raw materials are petroleum coke (needle type is preferred) and coal tar pitch. Electrode water cooling was first adopted by Nippon Steel Corporation, and then most companies followed. The main advantage is to decrease side consumption.Electric Arc Furnaces Market Segment Analysis
DC arc furnaces were first used industrially for the reductive smelting of chromite fines to produce ferrochromium thirty years ago. The power of these furnaces has increased from 12 MW to 72 MW for ferrochromium, and to 80 MW for ferronickel. The largest of these furnaces requires two electrodes to carry sufficient current to generate this much power. A review is presented of various DC arc furnaces in use, along with a discussion of the likely ways in which furnace power might be increased further in the future. DC arc furnaces are not a panacea for all metallurgical problems but are very well suited to several reductive smelting processes where they have been applied successfully in a number of industrial contexts, and many further applications.Electric Arc Furnaces Market Regional Insights
67% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the electric arc furnaces market in the region. Increasing demand from the steel industry has driven the electric arc furnaces market in the Asia Pacific. The steel industry in countries in the Asia Pacific, such as China and India, is witnessing significant expansion. Followed by APAC, North America and Europe are expected to dominate the market for Electric Arc Furnaces.Global Electric Arc Furnaces Market Report Scope: Inquire before buying
Global Electric Arc Furnaces Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 685.2 Mn. Forecast Period 2023 to 2029 CAGR: 11.25% Market Size in 2029: US $ 1445.1 Mn. Segments Covered: by Type • DC Arc Furnace • AC Arc Furnace by Application • Ore Smelting • Metal Smelting • Others Electric Arc Furnaces Market, by Region
• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)Electric Arc Furnaces Market, Key Players are:
• Danieli Group • JSW Steel • DescriptionIHI Corporation • Electrotherm Limited • Primetals Technologies Limited • Sinosteel Corporation • SMS Group • Tenova • JP Steel Plantech Co • Nippon Steel Corp • Siemens AG • IHI Corp. • STEEL PLANTECH • Doshi • DongXong • YUEDA • Nupro Corporation • Wuxi Dongxong Heavy Arc Furnace Co., Ltd. Frequently Asked Questions: 1. Which region has the largest share in Global Electric Arc Furnaces Market ? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Electric Arc Furnaces Market ? Ans: The Global Electric Arc Furnaces Market is growing at a CAGR of 11.25% during forecasting period 2023-2029. 3. What is scope of the Global Electric Arc Furnaces Market report? Ans: Global Electric Arc Furnaces Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Electric Arc Furnaces Market ? Ans: The important key players in the Global Electric Arc Furnaces Market are – Danieli Group, JSW Steel, DescriptionIHI Corporation, Electrotherm Limited, Primetals Technologies Limited, Sinosteel Corporation, SMS Group, Tenova, JP Steel Plantech Co, Nippon Steel Corp, Siemens AG, IHI Corp., STEEL PLANTECH, Doshi, DongXong, YUEDA, Nupro Corporation, Wuxi Dongxong Heavy Arc Furnace Co., Ltd. 5. What is the study period of this Market? Ans: The Global Electric Arc Furnaces Market is studied from 2022 to 2029.
Global Electric Arc Furnaces Market
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Electric Arc Furnaces Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Electric Arc Furnaces Market 3.4. Geographical Snapshot of the Electric Arc Furnaces Market, By Manufacturer share 4. Global Electric Arc Furnaces Market Overview, 2023-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Electric Arc Furnaces Market 5. Supply Side and Demand Side Indicators 6. Global Electric Arc Furnaces Market Analysis and Forecast, 2023-2029 6.1. Global Electric Arc Furnaces Market Size & Y-o-Y Growth Analysis. 7. Global Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 7.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 7.1.1. DC Arc Furnace 7.1.2. AC Arc Furnace 7.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 7.2.1. Ore Smelting 7.2.2. Metal Smelting 7.2.3. Others 8. Global Electric Arc Furnaces Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2023-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 9.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 9.1.1. DC Arc Furnace 9.1.2. AC Arc Furnace 9.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 9.2.1. Ore Smelting 9.2.2. Metal Smelting 9.2.3. Others 10. North America Electric Arc Furnaces Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2023-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 11.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 11.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 12. Canada Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 12.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 12.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 13. Mexico Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 13.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 13.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 14. Europe Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 14.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 14.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 15. Europe Electric Arc Furnaces Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2023-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 16.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 16.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 17. France Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 17.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 17.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 18. Germany Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 18.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 18.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 19. Italy Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 19.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 19.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 20. Spain Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 20.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 20.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 21. Sweden Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 21.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 21.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 22. CIS Countries Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 22.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 22.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 23. Rest of Europe Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 23.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 23.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 24. Asia Pacific Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 24.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 24.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 25. Asia Pacific Electric Arc Furnaces Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2023-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 26.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 26.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 27. India Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 27.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 27.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 28. Japan Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 28.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 28.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 29. South Korea Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 29.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 29.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 30. Australia Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 30.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 30.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 31. ASEAN Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 31.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 31.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 32. Rest of Asia Pacific Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 32.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 32.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 33. Middle East Africa Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 33.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 33.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 34. Middle East Africa Electric Arc Furnaces Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2023-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 35.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 35.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 36. GCC Countries Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 36.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 36.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 37. Egypt Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 37.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 37.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 38. Nigeria Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 38.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 38.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 39. Rest of ME&A Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 39.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 39.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 40. South America Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 40.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 40.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 41. South America Electric Arc Furnaces Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2023-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 42.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 42.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 43. Argentina Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 43.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 43.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 44. Rest of South America Electric Arc Furnaces Market Analysis and Forecasts, 2023-2029 44.1. Market Size (Value) Estimates & Forecast By Type, 2023-2029 44.2. Market Size (Value) Estimates & Forecast By Application, 2023-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Electric Arc Furnaces Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Danieli Group 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. JSW Steel 45.3.3. DescriptionIHI Corporation 45.3.4. Electrotherm Limited 45.3.5. Primetals Technologies Limited 45.3.6. Sinosteel Corporation 45.3.7. SMS Group 45.3.8. Tenova 45.3.9. JP Steel Plantech Co 45.3.10. Nippon Steel Corp 45.3.11. Siemens AG 45.3.12. IHI Corp. 45.3.13. STEEL PLANTECH 45.3.14. Doshi 45.3.15. DongXong 45.3.16. YUEDA 45.3.17. Nupro Corporation 45.3.18. Wuxi Dongxong Heavy Arc Furnace Co., Ltd. 45.3.19. Other Key Players 46. Primary Key Insights