Electric Arc Furnaces Market Size, Global Growth Trends, and Revenue Forecast
The global Electric Arc Furnaces Market By 2024 is expected to witness significant growth, with its market size projected to increase from USD 730.2 million in 2023 to 2032 by USD 1,891.1 million. This reflects a compound annual growth rate (CAGR) of 11.5% over the forecast period. This report highlights industry growth trends, key drivers such as cost-effective solutions and sustainable practices, and emerging opportunities across residential, commercial, and industrial sectors.
The Electric Arc Furnaces Market comprises key manufacturers such as Nippon Steel Corporation (Japan), Danieli & C. Officine Meccaniche SpA (Italy), ArcelorMittal (Luxembourg), Tenova S.p.A. (Italy), SMS Group GmbH (Germany), Electrotherm (India), Paul Wurth IHI Co., Ltd. (Japan), Primetals Technologies (U.K.), Wuxi Dongxong Heavy Arc Furnace Co., Ltd. (China), JP Steel Plantech Co. (Japan) Expansions, collaborations, and deals were some of the major strategies adopted by these key players to enhance their positions in the Electric Arc Furnaces Market.
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Market Scope:
Featuring in-depth analysis and forward-looking projections, this report is an essential resource for stakeholders aiming to leverage emerging opportunities and address challenges in the Electric Arc Furnaces Market. Key recent industry developments include;
- Tenova supplied its electric arc furnace to ORI Martin, a European steel group that specializes in manufacturing steel for the automotive, fastener, mechanical, and building sectors. Tenova replaced the existing EAF at the mill in Brescia, Italy.
- ArcelorMittal planned to invest in a new electric arc furnace production capacity at Belval, Luxembourg. The company planned to invest approximately USD 16.4 Million.
- Shinkansai Steel Co. Ltd., a Japanese flat-steel manufacturer, came into contract with Danieli to inbuild its Q-One digital power electronics technology to operate electric arc furnaces and maintain the power factor close to unity.
- Primetals Technologies and Salzgitter Flachstahl GmbH undergone a contract for the engineering, supply, and installation of an electric arc furnace where the company has made a capital investment of about USD 724 Million for a low carbon dioxide (CO2) steelmaking facility.
Electric Arc Furnaces Market Highlights:
The report provides valuable insights into the Compound Annual Growth Rate (CAGR) of the Electric Arc Furnaces Market, projecting its growth from 2023 to 2032. It offers a comprehensive analysis of the key drivers fueling market expansion, highlighting the factors that will propel growth during the forecast period. Additionally, the report delivers precise estimates of the market size and share, helping stakeholders understand the Electric Arc Furnaces Market’s position in the broader industry.
Future trends and consumer behavior forecasts are also covered, offering a forward-looking perspective on market shifts. The report includes a regional growth analysis, breaking down the performance of the Electric Arc Furnaces Market across;
- North America (By Type, By Capacity, By Application, and By Country)
- U.S. (By Capacity)
- Canada (By Capacity)
- Mexico (By Capacity)
- Europe (By Type, By Capacity, By Application, and By Country)
- Germany (By Capacity)
- U.K. (By Capacity)
- France (By Capacity)
- Italy (By Capacity)
- Russia (By Capacity)
- Rest of Europe
- Asia Pacific (By Type, By Capacity, By Application, and By Country)
- China (By Capacity)
- India (By Capacity)
- Japan (By Capacity)
- South Korea (By Capacity)
- Rest of Asia Pacific
- Middle East & Africa (By Type, By Capacity, By Application, and By Country)
- Turkey (By Capacity)
- GCC (By Capacity)
- South Africa (By Capacity)
- Rest of the Middle East & Africa
- South America (By Type, By Capacity, By Application, and By Country)
- Brazil (By Capacity)
- Argentina (By Capacity)
- Rest of South America
- North America (By Type, By Capacity, By Application, and By Country)
Segmentation of this market:
Electric Arc Furnace Market Size, Share & Industry Analysis, By Type (DC Arc Furnace and AC Arc Furnace), By Capacity (Up to 100 Tons, 100 – 300 Tons, and Above 300 Tons), By Application (Ferrous Metals and Non-Ferrous Metals), and Regional Forecast, 2024 – 2032
Explore a comprehensive Table of Contents, featuring detailed charts, tables, and figures, spread across 120+ pages. This report offers exclusive data, key statistics, industry trends, and insights into the competitive landscape within this niche sector.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Key Insights
- Industry Developments – Mergers, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Advancements
- Value Chain Analysis
TOC Continued…!
Drivers & Restrains:
- Drivers:
- Increasing demand for steel and recycled metals in construction and manufacturing driving the adoption of electric arc furnaces for efficient steel production.
- Technological advancements improving the energy efficiency and environmental performance of electric arc furnaces, making them more attractive to manufacturers.
- Restraints:
- High initial capital investment and operational costs associated with electric arc furnaces may limit adoption, especially among smaller producers.
- Fluctuations in raw material prices and supply chain disruptions impacting the profitability of electric arc furnace operations.
- Drivers:
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