Electric arc furnace is used for high melting point alloys such as steel, brass, zinc, or tin. The furnace is heated by electricity generated by means of electrode up to 1800 degrees centigrade. The EAF offers high efficiency and low operating cost. The electric arc furnace is mainly useful for melting non-ferrous metals. The global demand for electric arc furnace is likely to fuel, creating lucrative opportunities for market players during the forecast period.
MARKET DYNAMICS
The electric arc furnace market is anticipated to grow in the forecast period owing to driving factors such as increasing private ownership in the global steel industry and favorable steel regulations in countries such as China. However, overcapacity in the Chinese industry may discourage new investment and hinder the market growth during the forecast period. Nonetheless, improvements in energy and transportation cost are likely to showcase significant growth opportunities for key players of the electric arc furnace market over the coming years.
MARKET SCOPE
The "Global Electric Arc Furnace Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of electric arc furnace market with detailed market segmentation by type, application, and geography. The global electric arc furnace market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading electric arc furnace market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global electric arc furnace market is segmented on the basis of type and application. Based on type, the market is segmented as DC Electric Arc Furnace and AC Electric Arc Furnace. On the basis of the application, the market is segmented as metal smelting, ore smelting, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global electric arc furnace market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The electric arc furnace market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting electric arc furnace market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the electric arc furnace market in these regions.
MARKET PLAYERS
The reports cover key developments in the electric arc furnace market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from electric arc furnace market are anticipated to lucrative growth opportunities in the future with the rising demand for electric arc furnace in the global market. Below mentioned is the list of few companies engaged in the electric arc furnace market.
The report also includes the profiles of key electric arc furnace companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Danieli & C. Officine Meccaniche S.p.A.
- Doshi Technologies Pvt. Ltd
- IHI Corporation
- JP Steel Plantech Co.
- Primetals Technologies (Mitsubishi-Hitachi Metals Machinery, Inc.)
- Siemens AG
- SMS group GmbH
- Tenova S.p.A.
- The Electrotherm Group, Inc.
- Wuxi Dongxong Heavy Arc Furnace Co., Ltd.
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