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Global Electric Arc Furnaces Market 2019-2023

Global Electric Arc Furnaces Market 2019-2023

About Electric Arc Furnaces

Electric arc furnaces (EAF) are an integral part of steel minimills and are used to produce crude steel using scrap iron or a mixture of scrap iron and direct reduced iron (DRI).

Technavio’s analysts forecast the global electric arc furnaces market to grow at a CAGR of 10.98% during the period 2019-2023.

Covered in this report

The report covers the present scenario and the growth prospects of the global electric arc furnaces market for 2019-2023. This market research report offers a comprehensive analysis of the market segmentation by technology (DC arc furnace, and AC arc furnace).

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Electric Arc Furnaces Market 2019-2023, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • DANIELI
  • IHI
  • Primetals Technologies
  • Sinosteel
  • SMS group
  • Tenova (Techint Group)
Market driver
  • Steel regulations in China forcing steel makers to follow EAF route for new capacity
  • For a full, detailed list, view our report
Market challenge
  • Overcapacity in the Chinese steel industry discouraging new investment
  • For a full, detailed list, view our report
Market trend
  • Increasing private ownership in the global steel industry
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2023 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


PRESS RELEASE

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

Technavio recognizes the following companies as the key players in the global electric arc furnaces market: DANIELI, IHI, Primetals Technologies, Sinosteel, SMS group, and Tenova (Techint Group).

Commenting on the report, an analyst from Technavio’s team said: “Improvements in extraction and mining technologies have resulted in low prices of natural gas and non-coking coal. This have led to low production cost of DRI which is used with scrap steel to produce crude steel. Thus, the increasing production of DRI will be a key trend that will drive the growth of the electric arc furnaces market during the forecast period.”

According to the report, one of the major drivers for this market is the lower investment requirements of EAF route than BF-BOF route. Since, minimills use scrap iron to produce steel, the operating, material handling and processing cost is lesser than that of integrated steel plants. This leads to lower capital expenditure for EAF route than BF-BOF route for the same steel output, which in turn drives electric arc furnaces market growth.

Further, the report states that one of the major factors hindering the growth of this market is the downsizing of the Chinese steel industry to reduce the steel sector’s debt. The Chinese government is also shutting down several outdated and illegal steel plants to lower pollution levels in Chinese cities such as Beijing and Hebei. Since China is one of the largest producers, consumers and exporters of steel in the world, downsizing of the Chinese steel industry will negatively impact the growth of electric arc furnaces market.

Companies Mentioned

DANIELI
IHI
Primetals Technologies
Sinosteel
SMS group
Tenova (Techint Group)

  • Executive summary
  • Scope of the report
  • Market landscape
    • Market ecosystem
      • Table Global steel minimills 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 technology
    • Table Technology - Market share 2018-2023 (%)
    • Comparison by technology
      • Table Comparison by technology
    • DC arc furnace - Market size and forecast 2018-2023
      • Table DC arc furnace - Market size and forecast 2018-2023 ($ millions)
      • Table DC arc furnace - Year-over-year growth 2019-2023 (%)
    • AC arc furnace - Market size and forecast 2018-2023
      • Table AC arc furnace - Market size and forecast 2018-2023 ($ millions)
      • Table AC arc furnace - Year-over-year growth 2019-2023 (%)
    • Market opportunity by technology
      • Table Market opportunity by technology
  • 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
      • Table Comparison of capital expenditure per ton of steel in 2018
    • 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 - Segment focus
      • Table DANIELI – Geographic focus
      • Table DANIELI - Key offerings
    • IHI
      • Table IHI - Vendor overview
      • Table IHI - Business segments
      • Table IHI - Organizational developments
      • Table IHI - Segment focus
      • Table IHI – Geographic focus
      • Table IHI - Key offerings
    • Primetals Technologies
      • Table Primetals Technologies - Vendor overview
      • Table Primetals Technologies - Organizational developments
      • Table Primetals Technologies - Key offerings
    • Sinosteel
      • Table Sinosteel - Vendor overview
      • Table Sinosteel - Organizational developments
      • Table Sinosteel - Key offerings
    • SMS group
      • Table SMS group - Vendor overview
      • Table SMS group - Organizational developments
      • Table SMS group – Geographic focus
      • Table SMS group - Key offerings
    • Tenova (Techint Group)
      • Table Tenova (Techint Group) - Vendor overview
      • Table Tenova (Techint Group) - Organizational developments
      • Table Tenova (Techint Group) - Key offerings
  • Appendix
    • Research methodology
    • List of abbreviations
  • Explore Technavio

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