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Global Blast Furnaces Market 2019-2023

Global Blast Furnaces Market 2019-2023

About this market

The operational efficiency of an integrated steel plant is largely determined by the performance of blast furnaces. This have resulted in steel producers entering into performance-based contracts with blast furnace manufacturers. These contracts require the equipment vendors to provide hardware and services and bear most of the equipment and services fixed cost. Vendors are paid according to the financial performance of the steel plant. These performance-based contracts help the steel producers achieve improved operational efficiency and profitability. Thus, by providing equipment as a service, blast furnace vendors will be able to increase their market share and thereby boost market growth. Technavio’s analysts have predicted that the blast furnaces market will register a CAGR of over 4% by 2023.Market Overview

Large installed base of blast furnaces driving the replacement market

Approximately 70% of the world’s crude steel is produced by following the BF-BOF route in integrated steel plants. Owing to the high capital investment, integrated steel plants have to carry out production on a large scale to achieve economies of scale. This makes the exit barriers very high for integrated steel plant operators which leads to the creation of a large installed base thereby driving blast furnace replacement market growth.

Increasing popularity of steel mini mills

The production of pig iron which is a raw material in BOF is a costly process. Moreover, blast furnaces require frequent shutdown for relining and the process of starting up the furnace is also costly and time consuming. The low fixed costs and investment requirement of steel mini mills is making it a preferable option for steel production. Thus, the increasing popularity of steel mini mills is hampering the growth of blast furnaces market.

For the detailed list of factors that will drive and challenge the growth of the blast furnaces market during 2019-2023, view our report.

Competitive Landscape

The market appears to be fairly concentrated and with the presence of companies such as DANIELI, and LARSEN & TOUBRO the competitive environment is intense. Factors such as the large installed base of blast furnaces, will provide considerable growth opportunities to blast furnace manufacturers. DANIELI, LARSEN & TOUBRO, MCC Group, NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group), Primetals Technologies, and SMS group are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Blast Furnaces Market 2019-2023

Technavio recognizes the following companies as the key players in the global blast furnaces market: DANIELI, LARSEN & TOUBRO, MCC Group, NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group), Primetals Technologies, and SMS group.

Commenting on the report, an analyst from Technavio’s team said: “Blast furnace vendors are expanding their software and service offerings to help the integrated steel plant operators in cost reduction, waste minimization, and quality improvement. By entering into performance-based contracts with equipment vendors, steel producers are enhancing their operational efficiency and profitability. Thus, the provision of equipment as a service by blast furnace vendors will be a key trend driving market growth.”

According to the report, one of the major drivers for this market is the large installed base of blast furnaces which is driving the blast furnace replacement market. Existing integrated plant operators are the major customers of new blast furnaces as they need to replace their furnaces at the end of their lifecycle.

Further, the report states that one of the major factors hindering the growth of this market is the growing popularity of steel mini mills. These plants require low investment and have low fixed costs which makes them the preferable option for steel plant operators.

Companies Mentioned

DANIELI

LARSEN & TOUBRO

MCC Group

NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group)

Primetals Technologies

SMS group

  • Executive summary
  • Scope of the report
  • Market landscape
    • Market ecosystem
      • Table Global integrated steel plant market
      • Table Segments of the global integrated steel plant market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by application
    • Table Application - Market share 2018-2023 (%)
    • Comparison by application
      • Table Comparison by application
    • Capacity additions - Market size and forecast 2018-2023
      • Table Capacity additions - Market size and forecast 2018-2023 ($ millions)
      • Table Capacity additions - Year-over-year growth 2019-2023 (%)
    • Revamping projects - Market size and forecast 2018-2023
      • Table Revamping projects - Market size and forecast 2018-2023 ($ millions)
      • Table Revamping projects - Year-over-year growth 2019-2023 (%)
    • Market opportunity
      • Table Market opportunity
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • EMEA - Market size and forecast 2018-2023
      • Table EMEA - Market size and forecast 2018-2023 ($ millions)
      • Table EMEA - Year-over-year growth 2019-2023 (%)
    • Americas - Market size and forecast 2018-2023
      • Table Americas - Market size and forecast 2018-2023 ($ millions)
      • Table Americas - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • DANIELI
      • Table DANIELI - Vendor overview
      • Table DANIELI - Business segments
      • Table DANIELI - Organizational developments
      • Table DANIELI - Geographic focus
      • Table DANIELI - Segment focus
      • Table DANIELI - Key offerings
    • LARSEN & TOUBRO
      • Table LARSEN & TOUBRO - Vendor overview
      • Table LARSEN & TOUBRO - Business segments
      • Table LARSEN & TOUBRO - Organizational developments
      • Table LARSEN & TOUBRO - Geographic focus
      • Table LARSEN & TOUBRO - Segment focus
      • Table LARSEN & TOUBRO - Key offerings
    • MCC Group
      • Table MCC Group - Vendor overview
      • Table MCC Group - Business segments
      • Table MCC Group - Geographic focus
      • Table MCC Group - Segment focus
      • Table MCC Group - Key offerings
    • NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group)
      • Table NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group) - Vendor overview
      • Table NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group) - Business segments
      • Table NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group) - Organizational developments
      • Table NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group) - Segment focus
      • Table NIPPON STEEL AND SUMIKIN ENGINEERING (NSSMC Group) - Key offerings
    • Primetals Technologies
      • Table Primetals Technologies - Vendor overview
      • Table Primetals Technologies - Organizational developments
      • Table Primetals Technologies - Key offerings
    • SMS group
      • Table SMS group - Vendor overview
      • Table SMS group - Organizational developments
      • Table SMS group - Geographic focus
      • Table SMS group - Key offerings
  • Appendix
    • Research methodology
    • List of abbreviations
  • Explore Technavio

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