Report Code: A12936 | Nov 2023 | Pages: NA | ||
Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Electric Arc Furnaces Market
Request Now !An electric arc furnace (EAF) is an efficient melting apparatus which is used in steelmaking. It is a high-temperature furnace that heats charged material (scrap metal) by means of an electric arc. Melting is done by supply of energy to the furnace interior. Electrical energy is supplied via the graphite electrodes. It uses high-voltage electric arcs to make steel or to manufacture metals. These are used in mini-mills that recycle direct reduced iron, steel, and other mixture of scrap into new steel products. An electric arc furnace capacity ranges from small units of approximately one-ton capacity to more than 400 tons.
COVID-19 Impact Analysis
Top Impacting Factors
Electric arc furnace route eliminates investment required in storage, transportation, and processing facilities of cooking iron ore and coal. Therefore, low capital investment is required in electric arc furnace as compared to blast furnace. Also, scrap steel is easily available. These factors drive the growth of the electric arc furnace market. Rise in installation of ultra-supercritical thermal power plants, modernization of existing power plants, and expansion of power supply infrastructure is expected to fuel the demand for the electric arc furnace market.
China is a major producer, consumer, and exporter of steel. The Government of China has shut down several illegal and outdated steel plants to curb pollution. This ultimately limits the growth of the electric arc furnaces market.
Market trends
Key Benefits of the Report
Electric Arc Furnaces Market Report Highlights
Aspects | Details |
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By Technology |
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By Application |
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By Capacity |
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By Region |
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Key Market Players | IHI Corp.,, SMS group GmbH,, Nippon Steel Corp.,, Siemens AG,, JP Steel Plantech Co.,, Primetals Technologies Ltd.,, Danieli & C. Officine Meccaniche Spa,, Tenova Spa, Sinosteel Corp.,, Electrotherm Ltd., |
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