New Electric Arc Furnaces Market Research 2020-2024 | To Show Inferior Growth due to COVID-19 Spread | Technavio

Technavio has announced its latest market research report titled Global Electric Arc Furnaces Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The new electric arc furnaces market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the electric arc furnaces market.

Get FREE report sample within MINUTES

"One of the primary growth drivers for this market is the lower investment requirements of EAF route than BF-BOF route,” says a senior analyst for industrials at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the electric arc furnaces market size to grow by USD 526.50 million during the period 2020-2024.

Electric Arc Furnaces Market Segment Highlights for 2020

  • The electric arc furnaces market is expected to post a year-over-year growth rate of 5.70%.
  • Based on the technology, the DC arc furnace saw maximum growth in 2019. Factors such as lower investment requirements for the EAF route than the BF-BOF route are driving the market.
  • The growth of the segment will be significant during the forecast period.

Regional Analysis

  • 67% of the growth will originate from the APAC region.
  • The new emission regulations in China will significantly influence the electric arc furnaces market's growth in the APAC region.
  • China and India are the key markets for electric arc furnaces in APAC.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Related Reports on Industrials Include:

Global Electric Winch Market - The electric winch market is segmented by type (single reel, double reel, and line shaft winches) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report

Global Electric Actuators Market- The electric actuators market is segmented by end-user (automotive industry, water, and wastewater industry, marine industry, aerospace and defense industry, and others), type (linear actuators and rotary actuators), and geography (APAC, Europe, North America, MEA, and South America). Click Here to Get an Exclusive Free Sample Report

Notes:

  • The electric arc furnaces market size is expected to accelerate at a CAGR of over 11% during the forecast period.
  • The electric arc furnaces market is segmented by technology (DC arc furnace and AC arc furnace) and geography (APAC, Europe, North America, MEA, and South America).
  • The market is fragmented due to the presence of many established vendors holding significant market share.
  • The research report offers information on several market vendors, including Danieli & C. Officine Meccaniche Spa, Electrotherm (India) Ltd., IHI Corp., JP Steel Plantech Co., Nippon Steel Corp., Primetals Technologies Ltd., Siemens AG, Sinosteel Corp., SMS group GmbH, and Tenova Spa

Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Electric Arc Furnaces Market will grow by $ 526.50 mn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/