The Electric Arc Furnace Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Type (DC Arc Furnace, AC Arc Furnace), Capacity (Below 100 Tons, 100 to 300 Tons, Above 300 Tons), Application (Steelmaking, Non-Ferrous Metal Smelting, Others).
The Electric Arc Furnace Market in 2024 signifies the evolution of steelmaking technology. Characterized by electric arc furnaces for melting scrap steel, advanced electrode systems, and process automation, the market caters to the steel industry's demand for sustainable and cost-effective production methods. With a focus on energy efficiency, reduced emissions, and flexibility in steel manufacturing, the Electric Arc Furnace Market contributes to the modernization of the steelmaking process.
A notable trend in the Electric Arc Furnace market is the increasing integration of advanced automation and digitalization technologies. Furnace manufacturers are incorporating sensors, data analytics, and control systems to enhance the overall efficiency and performance of electric arc furnaces. The trend towards smart manufacturing enables real-time monitoring, predictive maintenance, and process optimization. This integration of digital technologies is crucial for meeting the growing demand for precision and efficiency in steelmaking processes.
The primary driver for the Electric Arc Furnace market is the escalating demand for sustainable and environmentally friendly steel production. With a heightened focus on reducing carbon emissions and environmental impact, electric arc furnaces, which are considered more eco-friendly compared to traditional blast furnaces, are gaining prominence. The ability of electric arc furnaces to use scrap metal as a raw material aligns with the industry's sustainability goals, driving the adoption of these furnaces in the steel manufacturing sector.
An opportunity in the Electric Arc Furnace market lies in the expansion of operations in developing economies and participation in infrastructural development projects. As emerging markets witness increased urbanization and infrastructure investments, the demand for steel products is on the rise. Electric arc furnaces offer flexibility and operational advantages, making them suitable for meeting the steel demand associated with large-scale construction projects. Manufacturers can capitalize on this opportunity by strategically entering and expanding their presence in markets experiencing rapid industrialization and infrastructure development.
By Type
By Capacity
By Application
By Region
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TABLE OF CONTENTS
1 Introduction to 2024 Electric Arc Furnace Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Electric Arc Furnace Market Size Outlook, $ Million, 2021 to 2030
3.2 Electric Arc Furnace Market Outlook by Type, $ Million, 2021 to 2030
3.3 Electric Arc Furnace Market Outlook by Product, $ Million, 2021 to 2030
3.4 Electric Arc Furnace Market Outlook by Application, $ Million, 2021 to 2030
3.5 Electric Arc Furnace Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Electric Arc Furnace Market Industry
4.2 Key Market Trends in Electric Arc Furnace Market Industry
4.3 Potential Opportunities in Electric Arc Furnace Market Industry
4.4 Key Challenges in Electric Arc Furnace Market Industry
5 Market Factor Analysis
5.1 Competitive Landscape
5.1.1 Global Electric Arc Furnace Market Share by Company
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Electric Arc Furnace Market Outlook By Segments
7.1 Electric Arc Furnace Market Outlook by Segments
By Type
DC Arc Furnace
AC Arc Furnace
By Capacity
Below 100 Tons
100 to 300 Tons
Above 300 Tons
By Application
Steelmaking
Non-Ferrous Metal Smelting
Others
8 North America Electric Arc Furnace Market Analysis And Outlook To 2030
8.1 Introduction to North America Electric Arc Furnace Markets in 2024
8.2 North America Electric Arc Furnace Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Electric Arc Furnace Market size Outlook by Segments, 2021-2030
By Type
DC Arc Furnace
AC Arc Furnace
By Capacity
Below 100 Tons
100 to 300 Tons
Above 300 Tons
By Application
Steelmaking
Non-Ferrous Metal Smelting
Others
9 Europe Electric Arc Furnace Market Analysis And Outlook To 2030
9.1 Introduction to Europe Electric Arc Furnace Markets in 2024
9.2 Europe Electric Arc Furnace Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Electric Arc Furnace Market Size Outlook By Segments, 2021-2030
By Type
DC Arc Furnace
AC Arc Furnace
By Capacity
Below 100 Tons
100 to 300 Tons
Above 300 Tons
By Application
Steelmaking
Non-Ferrous Metal Smelting
Others
10 Asia Pacific Electric Arc Furnace Market Analysis And Outlook To 2030
10.1 Introduction to Asia Pacific Electric Arc Furnace Markets in 2024
10.2 Asia Pacific Electric Arc Furnace Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Electric Arc Furnace Market size Outlook by Segments, 2021-2030
By Type
DC Arc Furnace
AC Arc Furnace
By Capacity
Below 100 Tons
100 to 300 Tons
Above 300 Tons
By Application
Steelmaking
Non-Ferrous Metal Smelting
Others
11 South America Electric Arc Furnace Market Analysis And Outlook To 2030
11.1 Introduction to South America Electric Arc Furnace Markets in 2024
11.2 South America Electric Arc Furnace Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Electric Arc Furnace Market size Outlook by Segments, 2021-2030
By Type
DC Arc Furnace
AC Arc Furnace
By Capacity
Below 100 Tons
100 to 300 Tons
Above 300 Tons
By Application
Steelmaking
Non-Ferrous Metal Smelting
Others
12 Middle East And Africa Electric Arc Furnace Market Analysis And Outlook To 2030
12.1 Introduction to Middle East and Africa Electric Arc Furnace Markets in 2024
12.2 Middle East and Africa Electric Arc Furnace Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Electric Arc Furnace Market size Outlook by Segments, 2021-2030
By Type
DC Arc Furnace
AC Arc Furnace
By Capacity
Below 100 Tons
100 to 300 Tons
Above 300 Tons
By Application
Steelmaking
Non-Ferrous Metal Smelting
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
Daido Steel Co. Ltd.
Danieli and C. Officine Meccaniche Spa
Doshi Technologies Pvt. Ltd.
Electrotherm Ltd.
GHI HORNOS INDUSTRIALES SL
IHI Corp.
JP Steel Plantech Co.
Nippon Steel Corp.
Nucor Corp.
Nupro Corp.
Primetals Technologies Ltd.
Resco Products Inc.
SARRALLE
Shougang Corp.
Siemens AG
SMS group GmbH
Tam Celik Sanayi AS
Tenova Spa
Vesuvius Plc
TYMEC
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Type
By Capacity
By Application
By Region
The global Electric Arc Furnace Market is one of the lucrative growth markets, poised to register a 7.1% growth (CAGR) between 2024 and 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Daido Steel Co. Ltd., Danieli and C. Officine Meccaniche Spa, Doshi Technologies Pvt. Ltd., Electrotherm Ltd., GHI HORNOS INDUSTRIALES SL, IHI Corp., JP Steel Plantech Co., Nippon Steel Corp., Nucor Corp., Nupro Corp., Primetals Technologies Ltd., Resco Products Inc., SARRALLE, Shougang Corp., Siemens AG, SMS group GmbH, Tam Celik Sanayi AS, Tenova Spa, Vesuvius Plc, and TYMEC
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume