Electric Arc Furnace Market to expand at 8% CAGR by 2024 Worldwidejohndsouzaind | March 27, 2019 | 0 | Machinery and Equipments
Electric Arc Furnaces Market 2019-2024
An electric arc furnace is a high-temperature furnace that uses high-voltage electric arcs to make steel. Electric arc furnaces are a feature of the minimills that recycle iron and steel scrap into new steel products. Arc furnaces range in size from small units of approximately one ton capacity used in foundries for producing cast iron products up to about 400 ton units used for secondary steelmaking.
This industry is centralized. Top 11 companies in the market occupies about 49.76% of the Revenue market shares in 2016. The major manufacturers of Electric Arc Furnaces are Danieli, Electrotherm, SMS, Siemens, TENOVA, STEEL PLANTECH, Doshi, IHI, DongXong, YUEDA, Nupro Corporation.
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In the past few years, as the main raw material price was not stable, with the addition of a sharp increase in production capacity, expected that the Electric Arc Furnaces raw material price will be relatively stable in the short term. However, the improvement of energy, transportation costs, and employee wages, will play a significant role in promoting the cost of Electric Arc Furnaces.
In China, Electric Arc Furnaces market is occupied by foreign banks to some degree, such as Danieli, Electrotherm, SMS, Siemens, China is the world’s largest consumption market of electric arc furnaces; as the same time, the production of electric arc furnaces in China grown gradually.
According to this study, over the next five years the Electric Arc Furnaces market will register a 8.0% CAGR in terms of revenue, the global market size will reach US$ 1520 million by 2024, from US$ 960 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in Electric Arc Furnaces business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Electric Arc Furnaces market by product type, application, key manufacturers and key regions and countries.
This study considers the Electric Arc Furnaces value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Electric Arc Furnaces consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Electric Arc Furnaces market by identifying its various subsegments.
Focuses on the key global Electric Arc Furnaces manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Electric Arc Furnaces with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks .
To project the consumption of Electric Arc Furnaces submarkets, with respect to key regions along with their respective key countries .
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Name: Jennifer Daniel
Organization: Planet Market Reports