Electric Arc Furnaces Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	178 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19224297

Best Price Guarantee
Price	from $4,850
Length	178 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19224297

Electric Arc Furnaces Market

Growth Factors of Electric Arc Furnaces Market

The electric arc furnaces market size was valued at USD 730.2 million in 2023, and the market is now 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 of 2023-2030.

The COVID-19 pandemic unfavorably affected the electric arc furnaces market growth. Disrupted supply chains have impacted on the transportation of raw materials on time. The demand for tools across several growing economies has declined. The lockdown measures halted the production activities for several weeks to reduce the expenses.

The electric arc furnaces market share globally impelled due to the increasing usage of direct reduced iron (DRI) in steel making. DRI technology proposes substantial advantages over traditional blast furnace methods. It is making it a favored choice for steel production. It has the ability to address emission restrictions, such as CD2, due its widespread use in steelmaking. The flexibility of DRI allows for immediate and efficient start-and-go operations, aligning with budding production dynamics. It is helpful in production of higher-quality steel with adjustable carbon levels, high metallic iron content, and consistent physical and chemical properties.

The trend of companies’ inclination towards sustainability goals in steel production is impelling the market growth. Many key stakeholders in the market and mining sector are vigorously addressing Scope 1 and Scope 2 emissions. They are stemming from direct and indirect sources respectively. The steel producing and mining companies are recognizing the requirement to transition to sustainable technologies that diminish carbon emissions. This shift is leading to a trend of replacing traditional blast furnaces with electric arc furnaces (EAFs) as part of their emission control strategies.

Comprehensive Analysis of Electric Arc Furnaces Market

The electric arc furnaces market and machinery and equipment industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industrial equipment industry. These segmentations are methodically segregated by types of type, capacity, and application. The types include DC arc furnace and AC arc furnace. The capacity contains up to 100 tons, 100-300 tons, and above 300 tons. The applications can be ferrous metals and non-ferrous metals.

The Asia Pacific region is conducive to the global electric arc furnaces market, leading to a recall of USD 380.5 million because of the large-scale making of steel in the region. China, India, and Japan have propelled the demand for steel and other metals produced using EAF because of the rapid urbanization and industrialization.

The top players in the market play a vital role in the machinery and equipment industry assuring industrial prospectus growth and setting market values. These players include 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), and JP Steel Plantech Co. (Japan), these market players provide a fair competitive landscape.

In July 2023, 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 has replaced the existing EAF at the mill in Brescia, Italy.

Segmentation Table

Global Electric Arc Furnaces Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 11.5% from 2024 to 2032

Unit Value (USD Million)

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

By Region

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

1. Introduction: 1.1. Definition, By Segment; 1.2. Research Methodology/Approach; 1.3. Data Sources
2. Executive Summary
3. Market Dynamics: 3.1. Macro and Micro Economic Indicators; 3.2. Drivers, Restraints, Opportunities and Trends
4. Competition Landscape: 4.1. Business Strategies Adopted by Key Players; 4.2. Consolidated SWOT Analysis of Key Players; 4.3. Global Electric Arc Furnace Key Players Market Share/Ranking, 2023
5. Global Electric Arc Furnace Market Size Estimates and Forecasts, By Segments, 2019-2032: 5.1. Key Findings; 5.2. By Type (USD); 5.2.1. DC Arc Furnace; 5.2.2. AC Arc Furnace; 5.3. By Capacity (USD); 5.3.1. Up to 100 Tons; 5.3.2. 100 – 300 Tons; 5.3.3. Above 300 Tons; 5.4. By Application (USD); 5.4.1. Ferrous Metals; 5.4.2. Non-Ferrous Metals; 5.5. By Region (USD); 5.5.1. North America; 5.5.2. Europe; 5.5.3. Asia Pacific; 5.5.4. Middle East & Africa; 5.5.5. South America
6. North America Electric Arc Furnace Market Size Estimates and Forecasts, By Segments, 2019-2032: 6.1. Key Findings; 6.2. By Type (USD); 6.2.1. DC Arc Furnace; 6.2.2. AC Arc Furnace; 6.3. By Capacity (USD); 6.3.1. Up to 100 Tons; 6.3.2. 100 – 300 Tons; 6.3.3. Above 300 Tons; 6.4. By Application (USD); 6.4.1. Ferrous Metals; 6.4.2. Non-Ferrous Metals; 6.5. By Country (USD); 6.5.1. United States; 6.5.1.1. By Capacity; 6.5.2. Canada; 6.5.2.1. By Capacity; 6.5.3. Mexico; 6.5.3.1. By Capacity
7. South America Electric Arc Furnace Market Size Estimates and Forecasts, By Segments, 2019-2032: 7.1. Key Findings; 7.2. By Type (USD); 7.2.1. DC Arc Furnace; 7.2.2. AC Arc Furnace; 7.3. By Capacity (USD); 7.3.1. Up to 100 Tons; 7.3.2. 100 – 300 Tons; 7.3.3. Above 300 Tons; 7.4. By Application (USD); 7.4.1. Ferrous Metals; 7.4.2. Non-Ferrous Metals; 7.5. By Country (USD); 7.5.1. Brazil; 7.5.1.1. By Capacity; 7.5.2. Argentina; 7.5.2.1. By Capacity; 7.5.3. Rest of South America
8. Europe Electric Arc Furnace Market Size Estimates and Forecasts, By Segments, 2019-2032: 8.1. Key Findings; 8.2. By Type (USD); 8.2.1. DC Arc Furnace; 8.2.2. AC Arc Furnace; 8.3. By Capacity (USD); 8.3.1. Up to 100 Tons; 8.3.2. 100 – 300 Tons; 8.3.3. Above 300 Tons; 8.4. By Application (USD); 8.4.1. Ferrous Metals; 8.4.2. Non-Ferrous Metals; 8.5. By Country (USD); 8.5.1. United Kingdom; 8.5.1.1. By Capacity; 8.5.2. Germany; 8.5.2.1. By Capacity; 8.5.3. France; 8.5.3.1. By Capacity; 8.5.4. Italy; 8.5.4.1. By Capacity; 8.5.5. Russia; 8.5.5.1. By Capacity; 8.5.6. Rest of Europe
9. Asia Pacific Electric Arc Furnace Market Size Estimates and Forecasts, By Segments, 2019-2032: 9.1. Key Findings; 9.2. By Type (USD); 9.2.1. DC Arc Furnace; 9.2.2. AC Arc Furnace; 9.3. By Capacity (USD); 9.3.1. Up to 100 Tons; 9.3.2. 100 – 300 Tons; 9.3.3. Above 300 Tons; 9.4. By Application (USD); 9.4.1. Ferrous Metals; 9.4.2. Non-Ferrous Metals; 9.5. By Country (USD); 9.5.1. China; 9.5.1.1. By Capacity; 9.5.2. India; 9.5.2.1. By Capacity; 9.5.3. Japan; 9.5.3.1. By Capacity; 9.5.4. South Korea; 9.5.4.1. By Capacity; 9.5.5. Rest of Asia Pacific
10. Middle East & Africa Electric Arc Furnace Market Size Estimates and Forecasts, By Segments, 2019-2032: 10.1. Key Findings; 10.2. By Type (USD); 10.2.1. DC Arc Furnace; 10.2.2. AC Arc Furnace; 10.3. By Capacity (USD); 10.3.1. Up to 100 Tons; 10.3.2. 100 – 300 Tons; 10.3.3. Above 300 Tons; 10.4. By Application (USD); 10.4.1. Ferrous Metals; 10.4.2. Non-Ferrous Metals; 10.5. By Country (USD); 10.5.1. Turkey; 10.5.1.1. By Capacity; 10.5.2. GCC; 10.5.2.1. By Capacity; 10.5.3. South Africa; 10.5.3.1. By Capacity; 10.5.4. Rest of MEA
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases): 11.1. Nippon Steel Corporation; 11.1.1. Overview; 11.1.1.1. Key Management; 11.1.1.2. Headquarters; 11.1.1.3. Offerings/Business Segments; 11.1.2. Key Details (Key details are consolidated data and not product/service specific); 11.1.2.1. Employee Size; 11.1.2.2. Past and Current Revenue; 11.1.2.3. Geographical Share; 11.1.2.4. Business Segment Share; 11.1.2.5. Recent Developments; 11.2. Danieli & C. Officine Meccaniche SpA; 11.2.1. Overview; 11.2.1.1. Key Management; 11.2.1.2. Headquarters; 11.2.1.3. Offerings/Business Segments; 11.2.2. Key Details (Key details are consolidated data and not product/service specific); 11.2.2.1. Employee Size; 11.2.2.2. Past and Current Revenue; 11.2.2.3. Geographical Share; 11.2.2.4. Business Segment Share; 11.2.2.5. Recent Developments; 11.3. ArcelorMittal; 11.3.1. Overview; 11.3.1.1. Key Management; 11.3.1.2. Headquarters; 11.3.1.3. Offerings/Business Segments; 11.3.2. Key Details (Key details are consolidated data and not product/service specific); 11.3.2.1. Employee Size; 11.3.2.2. Past and Current Revenue; 11.3.2.3. Geographical Share; 11.3.2.4. Business Segment Share; 11.3.2.5. Recent Developments; 11.4. Tenova S.p.A.; 11.4.1. Overview; 11.4.1.1. Key Management; 11.4.1.2. Headquarters; 11.4.1.3. Offerings/Business Segments; 11.4.2. Key Details (Key details are consolidated data and not product/service specific); 11.4.2.1. Employee Size; 11.4.2.2. Past and Current Revenue; 11.4.2.3. Geographical Share; 11.4.2.4. Business Segment Share; 11.4.2.5. Recent Developments; 11.5. SMS Group GmbH; 11.5.1. Overview; 11.5.1.1. Key Management; 11.5.1.2. Headquarters; 11.5.1.3. Offerings/Business Segments; 11.5.2. Key Details (Key details are consolidated data and not product/service specific); 11.5.2.1. Employee Size; 11.5.2.2. Past and Current Revenue; 11.5.2.3. Geographical Share; 11.5.2.4. Business Segment Share; 11.5.2.5. Recent Developments; 11.6. Electrotherm; 11.6.1. Overview; 11.6.1.1. Key Management; 11.6.1.2. Headquarters; 11.6.1.3. Offerings/Business Segments; 11.6.2. Key Details (Key details are consolidated data and not product/service specific); 11.6.2.1. Employee Size; 11.6.2.2. Past and Current Revenue; 11.6.2.3. Geographical Share; 11.6.2.4. Business Segment Share; 11.6.2.5. Recent Developments; 11.7. Paul Wurth IHI Co., Ltd.; 11.7.1. Overview; 11.7.1.1. Key Management; 11.7.1.2. Headquarters; 11.7.1.3. Offerings/Business Segments; 11.7.2. Key Details (Key details are consolidated data and not product/service specific); 11.7.2.1. Employee Size; 11.7.2.2. Past and Current Revenue; 11.7.2.3. Geographical Share; 11.7.2.4. Business Segment Share; 11.7.2.5. Recent Developments; 11.8. Primetals Technologies; 11.8.1. Overview; 11.8.1.1. Key Management; 11.8.1.2. Headquarters; 11.8.1.3. Offerings/Business Segments; 11.8.2. Key Details (Key details are consolidated data and not product/service specific); 11.8.2.1. Employee Size; 11.8.2.2. Past and Current Revenue; 11.8.2.3. Geographical Share; 11.8.2.4. Business Segment Share; 11.8.2.5. Recent Developments; 11.9. Wuxi Dongxong Heavy Arc Furnace Co., Ltd.; 11.9.1. Overview; 11.9.1.1. Key Management; 11.9.1.2. Headquarters; 11.9.1.3. Offerings/Business Segments; 11.9.2. Key Details (Key details are consolidated data and not product/service specific); 11.9.2.1. Employee Size; 11.9.2.2. Past and Current Revenue; 11.9.2.3. Geographical Share; 11.9.2.4. Business Segment Share; 11.9.2.5. Recent Developments; 11.10. JP Steel Plantech Co.; 11.10.1. Overview; 11.10.1.1. Key Management; 11.10.1.2. Headquarters; 11.10.1.3. Offerings/Business Segments; 11.10.2. Key Details (Key details are consolidated data and not product/service specific); 11.10.2.1. Employee Size; 11.10.2.2. Past and Current Revenue; 11.10.2.3. Geographical Share; 11.10.2.4. Business Segment Share; 11.10.2.5. Recent Developments
12. Key Takeaways: 13.