Dec 11, 2019   SOURCE: BusinessWire

Global Electric Arc Furnaces Market 2019-2023 | Evolving Opportunities with DANIELI and IHI | Technavio

Technavio has been monitoring the global electric arc furnaces market and the market is poised to grow by USD 470 million during 2019-2023 at a CAGR of nearly 11% during the forecast period. Request Free Sample Pages

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191211005301/en/

Technavio has announced its latest market research report titled global electric arc furnaces market 2019-2023 (Graphic: Business Wire)

Technavio has announced its latest market research report titled global electric arc furnaces market 2019-2023 (Graphic: Business Wire)

Read the 105-page research report with TOC on "Electric Arc Furnaces Market Analysis Report by Technology (DC arc furnace and AC arc furnace), by Geography (the Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023".

The market is driven by the lower investment requirements of the EAF route than BF-BOF route. Also, the improving power supply infrastructure is anticipated to further boost the growth of the electric arc furnaces market.

Electric arc furnaces (EAF) route and blast furnace to basic oxygen furnace (BF-BOF) route are the two routes the steel industry follows to produce steel. EAF route (minimills) requires less capital expenditure for a given output of steel because it uses scrap steel to provide steel. This minimizes the investments needed to transport, store, and process the iron ore and coking coal. As a result, countries such as Africa, Iran, and Turkey use the EAF route to produce the majority of steel. Thus, the lower investment requirements of EAF route than BF-BOF route is expected to drive market growth during the forecast period.

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

Major Five Electric Arc Furnaces Market Companies:

DANIELI

DANIELI is headquartered in Italy and operates the business under various business segments such as Plant making and Steel making. The company offers AC EAF and DC EAF.

IHI

IHI is headquartered in Japan and offers products through the following business units: Resources, energy, and environment, Aerospace engines, space, and defense, industrial systems and general-purpose machinery, and Social infrastructure and offshore facilities. The company offers DC electric arc furnaces that are capable of the simultaneous preheating and feeding of raw materials.

Primetals Technologies

Primetals Technologies is headquartered in Japan and operates under various business segments, namely EAF Ultimate and EAF Quantum.

Sinosteel

Sinosteel is headquartered in China and offers electric arc furnaces to be used in steel minimills.

SMS Group

The SMS Group is headquartered in Germany and offers EAFs with the provision of burner and oxygen injection technologies.

Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform

Electric Arc Furnaces Technology Outlook (Revenue, USD Million, 2019 - 2023)

  • DC arc furnace
  • AC arc furnace

Electric Arc Furnaces Regional Outlook (Revenue, USD Million, 2019 - 2023)

  • Americas
  • APAC
  • EMEA

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.