Electric Arc Furnaces Market by Technology and Geography - Forecast and Analysis 2021-2025
- Published: Oct 2021
- Pages: 120
- SKU: IRTNTR45919
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Electric Arc Furnaces Market - 2021-2025
The electric arc furnaces market size is expected to reach a value of USD 555.36 million, at a CAGR of 11.10%, during 2021-2025. This research study helps in a deep understanding of the underlying forces driving the market growth and current and potential target customers across segmentations. According to our comprehensive survey, factors such as lower investment requirements of the EAF route than the BF-BOF route are projected to significantly support market growth during the forecast period. Our research experts have thoroughly evaluated and covered the latest trends and challenges that will have a far-reaching effect on market growth.
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Electric Arc Furnaces Market Segments
From this Technavio report, get actionable insights on the electric arc furnaces market segments to generate successful ROIs and focus your business strategy efforts where they are most likely to be effective. Navigate through market segmentation by technology (DC arc furnace and AC arc furnace) and geography (APAC, Europe, North America, MEA, and South America) in this electric arc furnaces market report to pursue growth opportunities.
Also, our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities for subsequent recovery. This research report entails a thorough qualitative and quantitative analysis on the post-pandemic electric arc furnaces market predictions on consumer demand changes for 2021-2025.
Electric Arc Furnaces Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 11.10%
Market growth 2021-2025
$ 555.36 million
YoY growth (%)
APAC, Europe, North America, MEA, and South America
Performing market contribution
APAC at 67%
Key consumer countries
China, India, Germany, US, and Brazil
Leading companies, competitive strategies, consumer engagement scope
Berry Metal Co., Danieli & C. Officine Meccaniche Spa, Electrotherm Ltd., IHI Corp., JP Steel Plantech Co., Nippon Steel Corp., Primetals Technologies Ltd., SMS group GmbH, Tenova Spa, and Whiting Equipment Canada Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
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Electric Arc Furnaces Market Key Vendors and Competitive Analysis
Technavio research specialists have included significant well-thought-out business planning approaches of key players in this report. The electric arc furnaces market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to gain a competitive advantage.
The unprecedented outbreak of COVID-19 last year impacted market segments that has had a ripple effect on various stakeholders. To make the most of the opportunities and recover from post COVID-19 impact, the market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Get the full report to understand the COVID-19 impact on the growth of the electric arc furnaces market share during 2021-2025.
The electric arc furnaces market forecast report comprises complete key vendor profiles. The profiles include information on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.
Regional Opportunities in Electric Arc Furnaces Market - 2021-2025
67% of the electric arc furnaces market growth will originate from APAC during the forecast period. China and India are the key markets for electric arc furnaces in APAC. This report encompasses exclusive information on potential business locations and understand the demographics of current and prospective customers.
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APAC has been exhibiting a significant growth rate for electric arc furnaces market vendors. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click on the image above.
The electric arc furnaces market share growth in APAC will be faster than the growth of the market in other regions. The geographical segmentation in the report has assessed and included details on the competitive intelligence and regional opportunities in store for vendors.
Electric Arc Furnaces Market Share and Revenue by Technology
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The electric arc furnaces market share growth by the DC arc furnace segment will be significant during the forecast period. The growing popularity of steel minimills in developing countries and the countries that are rich in natural gas and the focus of the global steel industry on lowering the production cost are the main factors that are expected to drive the growth of this segment This report provides an accurate prediction of the contribution of all the segments to the growth of the electric arc furnaces market size.
From the electric arc furnaces market segmentation insights, players can achieve maximum market response by understanding the target consumers. The analytical data on the segmentation will allow vendors to position their services and products among the right audiences and gain significant exposure and growth. Also, get updated actionable market insights on post COVID-19 impact on each segment.
Key Electric Arc Furnaces Market Drivers & Trends
While it is crucial to have a solid understanding of the drivers and trends, it is also imperative that the market challenges are recognized to improvize business planning and sustain market competition. One of the key factors impeding electric arc furnaces market growth is the downsizing of the Chinese steel industry. In this research report, our analysts have elucidated exhaustive all key industry trends, drivers, and challenges, which will help companies evaluate and develop growth strategies.
One of the key factors driving growth in the electric arc furnaces market is the lower investment requirements of the EAF route over the BF-BOF route. The EAF route (minimill) requires less capital expenditure for a given output of steel when compared to the BF-BOF route. The advanced minimills can use up to 100% scrap steel as the primary raw material to produce steel, which, in turn, eliminates the investment requirement in transportation, storage, and processing facilities for iron ore and coking coal. Unlike integrated steel plants, minimill operators usually set up their facilities in the vicinity of their major customers, which results in logistical efficiency.
The new emission regulations in China is another major factor supporting the electric arc furnaces market share growth. The use of coking coal leads to the emission of carbon dioxide, which is a greenhouse gas. The governments of the Hebei and Jiangsu provinces of China ordered steel producers to reduce air pollution. Government initiatives are encouraging the use of the EAF route of steel making in China as it causes less harmful emissions compared with the BF-BOF route. It is expected that the anti-pollution drive will force other major steel-producing Chinese provinces as well to reduce the emissions caused by their respective steel industries. China has also introduced a carbon trading system which has increased the environmental cost for blast furnace operators more compared with their minimill counterparts.
This electric arc furnaces market analysis report provides detailed information on key trends, drivers, and challenges that is the essence of business planning and strengthening marketing strategies across regions and segmentations.
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Electric Arc Furnaces Market Report Outlook
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive electric arc furnaces market growth during the next five years
- Precise estimation of the electric arc furnaces market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the electric arc furnaces market across APAC, Europe, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electric arc furnaces market vendors
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- DC arc furnace - Market size and forecast 2020-2025
- AC arc furnace - Market size and forecast 2020-2025
- Market opportunity by Technology
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Berry Metal Co.
- Danieli & C. Officine Meccaniche Spa
- Electrotherm Ltd.
- IHI Corp.
- JP Steel Plantech Co.
- Nippon Steel Corp.
- Primetals Technologies Ltd.
- SMS group GmbH
- Tenova Spa
- Whiting Equipment Canada Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Lower investment requirements of EAF route than BF-BOF route
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