Electric Arc Furnaces Market: Growth Catalysts, Revenue Opportunities, and Size Analysis by 2024

The Electric Arc Furnaces Market sector is undergoing significant transformation, with substantial growth and technological advancements expected by 2032. According to a new in-depth market research report, the sector is poised for expansion, driven by various factors such as market size, share, and emerging trends.

This comprehensive report provides key insights into the Electric Arc Furnaces Market, exploring critical market segmentation and definitions. It highlights the essential components driving growth, offering a clear picture of the industry’s trajectory. Utilizing SWOT and PESTEL analyses, the report evaluates the market’s strengths, weaknesses, opportunities, and threats, while also considering political, economic, social, technological, environmental, and legal factors that impact the market landscape.

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Market Summary:

The global electric arc furnace market size was valued at USD 730.2 million in 2023. The market is projected to grow from USD 794.3 million in 2024 to USD 1,891.1 million by 2032, exhibiting a CAGR of 11.5% during the forecast period.

Recent industry developments are;

• • 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.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 100+ Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Major Players:

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)

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Electric Arc Furnaces Market Segmentation:

By Type

• DC Arc Furnace
• AC Arc Furnace

By Capacity

• Up to 100 Tons
• 100 – 300 Tons
• Above 300 Tons

By Application

• Ferrous Metals
• Non-Ferrous Metals

Reasons to purchase this report:

This report offers a detailed analysis of the competitive landscape, emerging growth areas, market conditions, and key trends within the Electric Arc Furnaces Market. It helps businesses identify expansion opportunities while addressing potential risks and challenges. By assessing product portfolios and business segments, the report provides valuable insights that guide stakeholders in formulating informed investment and market strategies.

The in-depth understanding of industry dynamics presented in the report supports the creation of effective strategies for success in the Electric Arc Furnaces Market, greatly enhancing decision-making. Overall, this report is an essential resource for those looking to stay updated in this rapidly evolving industry.

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Drivers & Restraints:

• 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.

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Electric Arc Furnaces Market Regional Segmentation:

• 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

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