USD 555.36 Mn growth in Electric Arc Furnaces Market | APAC to Occupy 67% Market Share | Technavio

NEW YORK, Nov. 9, 2021 /PRNewswire/ — The electric arc furnaces market size is set to grow by USD 555.36…

NEW YORK, Nov. 9, 2021 /PRNewswire/ — The electric arc furnaces market size is set to grow by USD 555.36 million from 2020 to 2025, accelerating at a CAGR of over 11% during the forecast period, according to Technavio.

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Factors such as lower investment requirements of EAF route than BF-BOF route and new emission regulations in China will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The electric arc furnaces market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

The report covers the following areas:

Electric Arc Furnaces Market 2021-2025: Segmentation

  • Technology
    • DC Arc Furnace
    • AC Arc Furnace
  • Geography
    • APAC
    • Europe
    • North America
    • MEA
    • South America

By technology, the market witnessed maximum demand for DC arc furnaces in 2020. The growing growing popularity of steel minimills in developing countries is driving the growth of the segment.  By Geography, APAC is expected to offer significant growth opportunities. The region currently accounts for 67% of the global market share.

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Electric Arc Furnaces Market 2021-2025: Vendor Analysis and Scope

Some of the major vendors of the electric arc furnaces market include 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. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 vendors operating in the market.

Market trends such as the increasing availability of scrap steel is likely to emerge as one of the primary drivers of the market. However, factors such as downsizing of the Chinese steel industry may threaten the growth of the market.

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Electric Arc Furnaces Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist electric arc furnaces market growth during the next five years
  • Estimation of the electric arc furnaces market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric arc furnaces market
  • 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

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Electric Arc Furnaces Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of over 11%

Market growth 2021-2025

US 555.36 million

Market structure

Fragmented

YoY growth (%)

8.30

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 67%

Key consumer countries

China, India, Germany, US, and Brazil

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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.

Market Dynamics

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

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

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