Electric Arc Furnaces Market is expected to grow at a CAGR of 11.25% during the forecast period. Global Electric Arc Furnaces Market is expected to reach US$ 1445.1 Mn. by 2029.
Electric Arc Furnaces Market Overview:
The Electric Arc Furnaces market report provides a market overview, market structure, as well as preventative and pre-planned management strategies for survival in the industry. The report focuses on the factors which influences the Electric Arc Furnaces Market, such as gross margin, cost, market share, capacity utilization, and supply and demand in the industry. The MMR’s report provides the comprehensive analysis of the Electric Arc Furnaces market for the forecasted period.
The cheaper investment needs of the EAF route compared to the BF-BOF route are one of the main development factors for this sector. Over 70–75% of the world's steel production in 2018 came from the BF–BOF pathway. In order to secure the supply of coking coal, iron ore, and limestone, the BF-BOF route or the integrated steel mill requires a significant financial investment. Railroad investments are also necessary for transporting raw materials to integrated steel factories and finished steel to end-use industries. When compared to the BF-BOF route, the EAF route requires less capital investment to produce the needed amount of steel.
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Electric Arc Furnaces Market Scope
The analysis comprises of the various Electric Arc Furnaces market segments and the competitive landscapes. The report covers the current trends and upcoming opportunities during the forecasted period. The data collected from many sources such as the paid and free databases, telephonic interviews, annual reports, government survey reports are all scrutinized by the MMR’s leading research team and experts of the market research and is represented scientifically in the forms of the graphs, pie charts and tables in simple understandable language for the user. The research tools such as SWOT analysis, PESTLE analysis and PORTER’s five forces are undertaken by the research team for analysing the qualitative and quantitative data.
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Segmentation:
Thirty years ago, the reductive smelting of chromite fines to create ferrochromium was the first industrial application of DC arc furnaces. For ferrochromium, the power of these furnaces has grown from 12 MW to 72 MW, and for ferronickel, to 80 MW. To convey enough current to produce this much power, the biggest of these furnaces needs two electrodes. The several types of DC arc furnaces already in use are reviewed, and the potential directions for future furnace power growth are discussed.
The cheaper investment needs of the EAF route compared to the BF-BOF route are one of the main development factors for this sector. Over 70–75% of the world's steel production in 2018 came from the BF–BOF pathway. In order to secure the supply of coking coal, iron ore, and limestone, the BF-BOF route or the integrated steel mill requires a significant financial investment. Railroad investments are also necessary for transporting raw materials to integrated steel factories and finished steel to end-use industries. When compared to the BF-BOF route, the EAF route requires less capital investment to produce the needed amount of steel.
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Key Players:
• Danieli Group
• JSW Steel
• DescriptionIHI Corporation
• Electrotherm Limited
• Primetals Technologies Limited
• Sinosteel Corporation
• SMS Group
• Tenova
• JP Steel Plantech Co
• Nippon Steel Corp
• Siemens AG
• IHI Corp.
• STEEL PLANTECH
• Doshi
• DongXong
• YUEDA
• Nupro Corporation
• Wuxi Dongxong Heavy Arc Furnace Co., Ltd.
Regional Analysis:
The study delves into the Electric Arc Furnaces market in depth, segmenting it into regions. The regional analysis provide the specific market share by the specific market regions acquired by the key players. The government initiatives for the Electric Arc Furnaces industry is also evaluated during the research to give the market’s brief information.
Key Questions answered in the Electric Arc Furnaces Market Report are:
Key offerings:
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Electric Arc Furnaces Market size , Electric Arc Furnaces Market share , Electric Arc Furnaces Market Analysis
Mar 20, 2023
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