The Electric Arc Furnace Market to 2027 highlights the key growth strategies adopted by the leading players of the Electric Arc Furnace industry in the competitive landscape, including their key developments and profile. The study evaluates current trends and analyses drivers, restraints, and opportunities during the forecast period. The Electric Arc Furnace Market is anticipated to witness decent growth in the coming years.
Electric arc furnace is used for high melting point alloys such as steel, brass, zinc, or tin. The furnace is heated by electricity generated by means of electrode up to 1800 degrees centigrade. The EAF offers high efficiency and low operating cost. The electric arc furnace is mainly useful for melting non-ferrous metals. The global demand for electric arc furnace is likely to fuel, creating lucrative opportunities for market players during the forecast period.
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The global electric arc furnace market is segmented on the basis of type and application. Based on type, the market is segmented as DC Electric Arc Furnace and AC Electric Arc Furnace. On the basis of the application, the market is segmented as metal smelting, ore smelting, and others.
Leading companies profiled in the report include:
- Danieli & C. Officine Meccaniche S.p.A.
- Doshi Technologies Pvt. Ltd
- IHI Corporation
- JP Steel Plantech Co.
- Primetals Technologies (Mitsubishi-Hitachi Metals Machinery, Inc.)
- Siemens AG
- SMS group GmbH
- Tenova S.p.A.
- The Electrotherm Group, Inc.
- Wuxi Dongxong Heavy Arc Furnace
The report includes details such as financial overview, product/ services offered, notable developments, and SWOT analysis for each of these companies.
The electric arc furnace market is anticipated to grow in the forecast period owing to driving factors such as increasing private ownership in the global steel industry and favorable steel regulations in countries such as China. However, overcapacity in the Chinese industry may discourage new investment and hinder the market growth during the forecast period. Nonetheless, improvements in energy and transportation cost are likely to showcase significant growth opportunities for key players of the electric arc furnace market over the coming years.
The automotive and transportation industry is witnessing advancements on a continuous scale. Technological innovations and urbanization are key drivers propelling the growth of this sector. The development of Electric Arc Furnace are expected to drive in the market in the future. Electric Arc Furnace is further likely to prove revolutionary for the automotive and transportation industry.
The report offers an extensive pool of market data covering market sizes, revenue forecasts, value chain, product trends, and price trends that serve as a blueprint for businesses.
The Electric Arc Furnace Market is segmented based on type, application, and geography. The report provides exhaustive PEST analysis for five major regions, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South & Central America (S&CAM). The report covers forecasts of 18 major countries along with existing trends and opportunities within these regions.
The report acknowledges following key Elements:
- Electric Arc Furnace Market size and growth rate in the forecast period.
- Key market trends affecting the Electric Arc Furnace Market.
- Drivers and challenges to market growth.
- SWOT analysis of the existing vendors in the Global Electric Arc Furnace Market.
- Market initiatives by the leading vendors.
- PEST analysis across five major regions.
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This post was originally published on Space Market Research