Electric Arc Furnace (EAF) and Components Market
Electric Arc Furnace and Components Market Study by AC EAF and DC EAF Current for EAF, Furnace Transformers, Arc Furnace Vacuum Circuit Breakers, Graphite Electrodes, and Others from 2023 to 2033
Analysis of Electric Arc Furnace (EAF) and Components Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Electric Arc Furnace (EAF) and Components Market Outlook (2023 to 2033)
Newly-released electric arc furnace and components market analysis report by Fact.MR reveals that global sales in 2023 were held at US$ 1.7 Billion. With 2.7% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 2.2 Billion by the end of the forecast period.
Electric arc furnace and components in DC EAF is expected to be the highest revenue-generating current type in the Market, projected to grow at a CAGR of over 3.1% from 2023 to 2033. Electric arc furnace and components in EAF by components type is expected to be the highest revenue-generating segment in the market, projected to grow at a CAGR of over 3.3% from 2023 to 2033
| Attributes | Details |
|---|---|
| Global Electric Arc Furnace and Components Market Size (2023) | US$ 1.7 Billion |
| Global Electric Arc Furnace and Components Market Size (2033) | US$ 2.2 Billion |
| Global Electric Arc Furnace and Components Market CAGR (2023 to 2033) | 2.7% |
| U.S. Electric Arc Furnace and Components Market CAGR (2023 to 2033) | 2.2% |
| Key Companies Covered | Schneider Electric; Mitsubishi Electric Corporation; ABB; Siemens; Toshiba; Tavrida Electric AG; Xiamen Huadian Switchgear Co., Ltd.; Nippon Steel & Sumikin Engineering; Danieli; Algoma Steel Group Inc. |
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Revenue of the Electric Arc Furnace and Components Market from 2018 to 2022 Compared to Demand Outlook from 2023 to 2033
As per the electric Arc furnace and components market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased by around 2.7% CAGR. With an absolute dollar opportunity of US$ 565.7 Million, the market is projected to reach a valuation of US$ 2.2 Billion by 2033.
What key factors are influencing the Electric Arc Furnace and Components Market's expansion?
The demand for electric arc furnace (EAF) and components in the steel industry has been growing steadily over the years due to several factors. EAF technology offers a more environmentally friendly alternative to traditional blast furnaces as it emits fewer greenhouse gases and reduces the carbon footprint in the steel-making process.
The shift from blast furnace (BF) to electric arc furnace (EAF) steelmaking, set to commence by 2025, presents a significant opportunity for the electric arc furnace and components industry. According to an independent study conducted by CRU Group, steel produced by EAF steelmakers in the US has a carbon intensity that is approximately 75% lesser than traditional blast furnace steelmakers.
EAF is a prominent component in the steel production process. Many steelmakers around the world are investing in EAF facilities to take advantage of the environmental benefits and cost advantages they offer. According to the World Steel Association, global investment in the steel industry is expected to reach US$ 1.5 trillion by 2025. Steel is the most widely used metal in the world, accounting for around 50% of global metal consumption.
In 2022, the demand for steel rose to around 1.86 million tons. Thus, to fulfill this increasing demand, manufacturers are investing heavily in new technologies. The growing investment in steel industries will further contribute to the growth of the EAF and components industry. For instance, Nucor Corporation, a leading steel producer in the US, has embraced EAF technology and has become the lowest-cost producer of steel domestically through the EAF process.
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Which Region is projected to offer the Largest Electric Arc Furnace and Components Opportunity?
East Asia had an electric arc furnace and components market size of US$ 678.8 Million in 2022. It is projected that East Asia will have a market worth US$ 975 Million in 2033.
East Asia's focus on technology and innovation is propelling the adoption of advanced EAF equipment and components. The Chinese government's initiatives to upgrade and modernize the steel sector have led to significant investments in EAF-based plants.
With the sanctioning of 16 additional EAFs, China's electric arc furnace (EAF) capacity increased in 2022 and reached 15.1 million tonnes of annual crude steel production. Along with supporting global environmental objectives, Japan and South Korea are also investing in EAF technology to meet their expanding steel needs.
Country-wise Analysis
United States Electric Arc Furnace and Components Market Analysis
The market in the United States is expected to grow to be worth US$ 284.7 Million by 2033, with an absolute dollar growth of US$ 60.5 Million. The market in the United States is expected to grow at a CAGR of 2.2% from 2023 to 2033.
Annual iron and steel manufacturing revenue in the United States increased from over US$ 70 billion in 2009 to US$ 101 billion in 2022. The US steel industry has been experiencing growth and transformation, with a focus on sustainable steel production methods and thus there is rapid growth in demand for electric arc furnace (EAF) technology.
Japan Electric Arc Furnace and Components Market Analysis :
The market in Japan is expected to grow to be worth US$ 217.8 Million by 2033, with an absolute dollar growth of US$ 62.6 Million. The market in the country has grown at a CAGR of 1% from 2018 to 2022 and is expected to grow at a CAGR of 3.2% from 2023 to 2033.
As Japan continues to advance its steel production capabilities and prioritize greener manufacturing processes, the EAF sector is expected to play a vital role in shaping the future of the Japanese steel industry. For instance, Nippon Steel, one of Japan's significant steelmakers, is committed to transitioning towards more sustainable steel production methods and achieving carbon neutrality by 2050.
To accelerate its decarbonization drive, Nippon Steel is actively pursuing electric arc furnace (EAF) projects. Also, Nippon Steel is exploring the use of hydrogen in conjunction with EAF technology to further decarbonize its steel production. This innovative approach to steelmaking can reduce carbon emissions by up to 80%.
China Electric Arc Furnace and Components Market Analysis :
The market in China is expected to grow to be worth US$ 645.7 Million by 2033, with an absolute dollar growth of US$ 204.2 Million. The market in China has grown at a CAGR of 1.4% from 2018 to 2022 and is expected to grow at a CAGR of 3.5% from 2023 to 2033.
The building of 43 new EAFs with a combined annual capacity of 32.3 million tonnes of crude steel was approved by China for construction in 2021. The provinces with the most approvals were Hebei, with a capacity of 7.4 million tonnes annually, and Jiangsu, with a capacity of 4.8 million tonnes annually for new EAFs.
These new EAFs in China will be put into operation between the end of 2022 and the beginning of 2025, based on the closure of the 37.7 million tonnes per year of aging crude steelmaking plants that still follow the conventional process. As China continues to pursue its goals of reducing carbon emissions and advancing its steel production capabilities, the EAF sector is expected to play a pivotal role in shaping the future of the Chinese steel industry.
India Electric Arc Furnace and Components Market Analysis :
The market in India is expected to grow to be worth US$ 171 Million with an absolute dollar growth of US$ 44.9 Million. The market in India has grown at a CAGR of 0.3% from 2018 to 2022 and is expected to grow at a CAGR of 2.9% from 2023 to 2033.
It is evident that India's steel industry is a significant contributor to the country's economy, and the adoption of new technologies such as EAFs is likely to play a crucial role in achieving the country's steel production targets. For instance, Tata Steel, one of India's prominent steelmakers, signed a Memorandum of Understanding (MoU) with the Government of Punjab to establish a steel scrap-based electric arc furnace (EAF) steel plant in north India's Punjab state. Tata Steel's plans to set up an EAF-based steel plant demonstrate the potential for the adoption of new technologies in achieving India's target of producing 300 million tonnes of steel by 2030.
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Category-wise Insights
Why the demand for DC EAF Current Type in Electric Arc Furnace and Components is projected to Witness Significant Growth?
DC EAF as a current type in the market is projected to witness secure growth with a CAGR of 1.1% from 2018 to 2022 and is expected to grow at a CAGR of 3.1% from 2023 to 2033.
Direct Current (DC) Electric Arc Furnace (EAF) technology has been gaining traction in the EAF and components industry due to its potential for increased energy efficiency and productivity. DC EAFs offer advantages such as faster melting rates, better temperature control, and reduced electrode consumption compared to traditional alternating current (AC) EAFs. The arc in the DC EAF is stable and concentrated, resulting in a well-stirred molten pool. This can lead to more efficient and effective steelmaking.
Competitive Analysis
Key players in the market are Schneider Electric, Mitsubishi Electric Corporation, ABB, Siemens, Toshiba, Tavrida Electric AG, Xiamen Huadian Switchgear Co., Ltd., Nippon Steel & Sumikin Engineering, Danieli, Algoma Steel Group Inc. Companies are taking up the challenge and designing strategies to maintain the growth in the Electric Arc Furnace and Components sector and therefore this will help the market to grow.
Some of the recent developments in the market are :
- In July 2023, through the Catalyse program, Schneider Electric, Intel, and Applied Materials teamed together to help decarbonize the semiconductor value chain. Addressing sustainability concerns that are present in the semiconductor and technology industries is the aim of this alliance.
- In February 2023, for the new Algoma Steel Group Inc. Electric Arc Furnace (EAF) steelmaking facility in Sault Ste. Marie, the first structural steel columns have been put into place. The main EAF building and auxiliary structures were built and put up by the company in collaboration with Hamilton-based Walters Group Inc.
- In November 2021, Algoma Steel Group Inc. stated that it will build two cutting-edge Electric Arc Furnaces (EAF) to replace its current steelmaking operations and stop producing coke and iron. Algoma will be better positioned for long-term growth in the expanding market for low-carbon steel as a result of the conversion to a low-carbon manufacturing method, which is anticipated to reduce greenhouse gas emissions by roughly 70%.
- In December 2022, Steel Plantech announced the development of an Electric Arc Furnace (EAF) power supply system in collaboration with a Japanese power electronics company. The new EAF power supply system is expected to improve the efficiency of the EAF process and reduce energy consumption.
Segmentation of the Global Electric Arc Furnace and Components Market
-
By Current Type :
- AC EAF
- DC EAF
-
By Type :
- EAF
- Below 100 tons
- 100-300 tons
- Above 300 tons
- Power Cables
- Furnace Transformers
- Arc Furnace Vacuum Circuit Breaker
- Graphite Electrodes
- Refractory lining
- Water Cooled System
- Scrap Preheating System
- Vacuum Switches
- EAF
Table of Content
- 1. Global Market - Executive Summary
- 2. Market Overview
- 3. Market Background and Foundation Data
- 4. Market Dynamics
- 5. Global Market Value (US$ Mn) Analysis and Forecast
- 6. Global Market Analysis and Forecast, By Current Type
- 6.1. AC EAF
- 6.2. DC EAF
- 7. Global Market Analysis and Forecast, By Type
- 7.1. EAF
- 7.1.1. Below 100 tons
- 7.1.2. 100-300 tons
- 7.1.3. Above 300 tons
- 7.2. Power Cables
- 7.3. Furnace Transformers
- 7.4. Arc Furnace Vacuum Circuit Breaker
- 7.5. Graphite Electrodes
- 7.6. Refractory Lining
- 7.7. Water Cooled System
- 7.8. Scrap Preheating System
- 7.1. EAF
- 8. Global Market Analysis and Forecast, by Region
- 8.1. North America
- 8.2. Latin America
- 8.3. Europe
- 8.4. East Asia
- 8.5. South Asia and ASEAN
- 8.6. Middle East & Africa
- 8.7. Oceania
- 9. North America Market Analysis and Forecast
- 10. Latin America Market Analysis and Forecast
- 11. Europe Market Analysis and Forecast
- 12. East Asia Market Analysis and Forecast
- 13. South Asia and ASEAN Market Analysis and Forecast
- 14. Middle East & Africa Market Analysis and Forecast
- 15. Oceania Market Analysis and Forecast
- 16. Country-level Market Analysis and Forecast
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. Schneider Electric
- 18.2. ABB
- 18.3. Siemens
- 18.4. Mitsubishi Electric Corporation
- 18.5. Toshiba
- 18.6. Tavrida Electric AG
- 18.7. Xiamen Huadian Switchgear Co., Ltd.
- 18.8. Eaton Corporation
- 18.9. Fuji Electric Co., Ltd.
- 18.10. General Electric Company (GE)
- 18.11. PACS Industries
- 18.12. Sigma Switches Plus, Inc.
- 18.13. Diversified Nonferrous Technologies (DNT)
- 18.14. LS Electric
- 18.15. Elatec Power Distribution
- 18.16. Nippon Steel & Sumikin Engineering
- 18.17. Danieli Group
- 18.18. Algoma Steel Group Inc.
- 18.19. Steel Plantech
- 19. Assumptions & Acronyms Used
- 20. Research Methodology
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List Of Table
Table 01: Global Market Value (US$ Million), by Current Type, 2018 to 2033
Table 02: Global Market Value (US$ Million), by Type, 2018 to 2033
Table 03: Global Market Value (US$ Million), by Region, 2018 to 2033
Table 04: North America Market Value (US$ Million), by Current Type, 2018 to 2033
Table 05: North America Market Value (US$ Million), by Type, 2018 to 2033
Table 06: North America Market Value (US$ Million), by Country, 2018 to 2033
Table 07: Latin America Market Value (US$ Million), by Current Type, 2018 to 2033
Table 08: Latin America Market Value (US$ Million), by Type, 2018 to 2033
Table 09: Latin America Market Value (US$ Million), by Country, 2018 to 2033
Table 10 Europe Market Value (US$ Million), by Current Type, 2018 to 2033
Table 11: Europe Market Value (US$ Million), by Type, 2018 to 2033
Table 12: Europe Market Value (US$ Million), by Country, 2018 to 2033
Table 13: East Asia Market Value (US$ Million), by Current Type, 2018 to 2033
Table 14: East Asia Market Value (US$ Million), by Type, 2018 to 2033
Table 15: East Asia Market Value (US$ Million), by Country, 2018 to 2033
Table 16: South Asia & ASEAN Market Value (US$ Million), by Current Type, 2018 to 2033
Table 17: South Asia & ASEAN Market Value (US$ Million), by Type, 2018 to 2033
Table 18: South Asia & ASEAN Market Value (US$ Million), by Country, 2018 to 2033
Table 19: Middle East & Africa Market Value (US$ Million), by Current Type, 2018 to 2033
Table 20: Middle East & Africa Market Value (US$ Million), by Type, 2018 to 2033
Table 21: Middle East & Africa Market Value (US$ Million), by Country, 2018 to 2033
Table 22: Oceania Market Value (US$ Million), by Current Type, 2018 to 2033
Table 23: Oceania Market Value (US$ Million), by Type, 2018 to 2033
Table 24: Oceania Market Value (US$ Million), by Country, 2018 to 2033
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List Of Figures
Figure 01: Global Market Value (US$ Bn) Analysis, 2018, 2023 and 2033
Figure 02: Global Market Value (US$ Bn) Forecast and Analysis, 2018 to 2022
Figure 03: Global Market Value (US$ Bn) Forecast and Analysis, 2023 to 2033
Figure 04: Global Market Value Y-o-Y Growth and Forecast, 2019 to 2033
Figure 05: Global Market Incremental $ Opportunity, 2022 to 2033
Figure 06: Global Market Share Analysis By Current Type - 2023 & 2033
Figure 07: Global Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 08: Global Market Attractiveness Analysis By Current Type, 2023 to 2033
Figure 09: Global Market Share Analysis By Vertical - 2023 & 2033
Figure 10: Global Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 11: Global Market Attractiveness Analysis By Vertical , 2023 to 2033
Figure 12: Global Market Share Analysis By Electric Arc Furnace (EAF) - 2023 & 2033
Figure 13: Global Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 14: Global Market Attractiveness Analysis By Electric Arc Furnace (EAF), 2023 to 2033
Figure 15: Global Market Share Analysis by Region - 2023 & 2033
Figure 16: Global Market Y-o-Y Growth Projections by Region, 2023 to 2033
Figure 18: North America Market Value (US$ Mn) Forecast and Analysis, 2018 to 2022
Figure 19: North America Market Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 20: North America Market Value Y-o-Y Growth and Forecast, 2019 to 2033
Figure 21: North America Market Incremental $ Opportunity, 2022 to 2033
Figure 22: North America Market Share by Country– 2023 & 2033
Figure 23: North America Market Y-o-Y Growth Projections by Country, 2023 to 2033
Figure 24: North America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 25: North America Market Share Analysis By Current Type, 2023 & 2033
Figure 26: North America Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 27: North America Market Attractiveness Analysis By Current Type, 2023 to 2033
Figure 28: North America Market Share Analysis By Type, 2023 & 2033
Figure 29: North America Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 30: North America Market Attractiveness Analysis By Type, 2023 to 2033
Figure 31: North America Market Share By EAF– 2023 & 2033
Figure 32: North America Market Attractiveness Analysis By EAF – 2023 to 2033
Figure 33: Latin America Market Value (US$ Mn) Forecast and Analysis, 2018 to 2022
Figure 34: Latin America Market Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 35: Latin America Market Value Y-o-Y Growth and Forecast, 2019 to 2033
Figure 36: Latin America Market Incremental $ Opportunity, 2022 to 2033
Figure 37: Latin America Market Share by Country– 2023 & 2033
Figure 38: Latin America Market Y-o-Y Growth Projections by Country, 2023 to 2033
Figure 39: Latin America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 40: Latin America Market Share Analysis By Current Type, 2023 & 2033
Figure 41: Latin America Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 42: Latin America Market Attractiveness Analysis By Current Type, 2023 to 2033
Figure 43: Latin America Market Share Analysis By Type, 2023 & 2033
Figure 44: Latin America Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 45: Latin America Market Attractiveness Analysis By Type, 2023 to 2033
Figure 46: Latin America Market Share By EAF– 2023 & 2033
Figure 47: Latin America Market Attractiveness Analysis By EAF – 2023 to 2033
Figure 48: Europe Market Value (US$ Mn) Forecast and Analysis, 2018 to 2022
Figure 49: Europe Market Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 50: Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2033
Figure 51: Europe Market Incremental $ Opportunity, 2022 to 2033
Figure 52: Europe Market Share by Country– 2023 & 2033
Figure 53: Europe Market Y-o-Y Growth Projections by Country, 2023 to 2033
Figure 54: Europe Market Attractiveness Analysis by Country, 2023 to 2033
Figure 55: Europe Market Share Analysis By Current Type, 2023 & 2033
Figure 56: Europe Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 57: Europe Market Attractiveness Analysis By Current Type, 2023 to 2033
Figure 58: Europe Market Share Analysis By Type, 2023 & 2033
Figure 59: Europe Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 60: Europe Market Attractiveness Analysis By Type, 2023 to 2033
Figure 61: Europe Market Share By EAF– 2023 & 2033
Figure 62: Europe Market Attractiveness Analysis By EAF – 2023 to 2033
Figure 63: East Asia Market Value (US$ Mn) Forecast and Analysis, 2018 to 2022
Figure 64: East Asia Market Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 65: East Asia Market Value Y-o-Y Growth and Forecast, 2019 to 2033
Figure 66: East Asia Market Incremental $ Opportunity, 2022 to 2033
Figure 67: East Asia Market Share by Country– 2023 & 2033
Figure 68: East Asia Market Y-o-Y Growth Projections by Country, 2023 to 2033
Figure 69: East Asia Market Attractiveness Analysis by Country, 2023 to 2033
Figure 70: East Asia Market Share Analysis By Current Type, 2023 & 2033
Figure 71: East Asia Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 72: East Asia Market Attractiveness Analysis By Current Type, 2023 to 2033
Figure 73: East Asia Market Share Analysis By Type, 2023 & 2033
Figure 74: East Asia Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 75: East Asia Market Attractiveness Analysis By Type, 2023 to 2033
Figure 76: East Asia Market Share By EAF– 2023 & 2033
Figure 77: East Asia Market Attractiveness Analysis By EAF – 2023 to 2033
Figure 78: South Asia and ASEAN Market Value (US$ Mn) Forecast and Analysis, 2018 to 2022
Figure 79: South Asia and ASEAN Market Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 80: South Asia and ASEAN Market Value Y-o-Y Growth and Forecast, 2019 to 2033
Figure 81: South Asia and ASEAN Market Incremental $ Opportunity, 2022 to 2033
Figure 82: South Asia and ASEAN Market Share by Country– 2023 & 2033
Figure 83: South Asia and ASEAN Market Y-o-Y Growth Projections by Country, 2023 to 2033
Figure 84: South Asia and ASEAN Market Attractiveness Analysis by Country, 2023 to 2033
Figure 85: South Asia and ASEAN Market Share Analysis By Current Type, 2023 & 2033
Figure 86: South Asia and ASEAN Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 87: South Asia and ASEAN Market Attractiveness Analysis By Current Type, 2023 to 2033
Figure 88: South Asia and ASEAN Market Share Analysis By Type, 2023 & 2033
Figure 89: South Asia and ASEAN Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 90: South Asia and ASEAN Market Attractiveness Analysis By Type, 2023 to 2033
Figure 91: South Asia and ASEAN Market Share By EAF– 2023 & 2033
Figure 92: South Asia and ASEAN Market Attractiveness Analysis By EAF – 2023 to 2033
Figure 93: MEA Market Value (US$ Mn) Forecast and Analysis, 2018 to 2022
Figure 94: MEA Market Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 95: MEA Market Value Y-o-Y Growth and Forecast, 2019 to 2033
Figure 96: MEA Market Incremental $ Opportunity, 2022 to 2033
Figure 97: MEA Market Share by Country– 2023 & 2033
Figure 98: MEA Market Y-o-Y Growth Projections by Country, 2023 to 2033
Figure 99: MEA Market Attractiveness Analysis by Country, 2023 to 2033
Figure 100: MEA Market Share Analysis By Current Type, 2023 & 2033
Figure 101: MEA Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 102: MEA Market Attractiveness Analysis By Current Type, 2023 to 2033
Figure 103: MEA Market Share Analysis By Type, 2023 & 2033
Figure 104: MEA Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 105: MEA Market Attractiveness Analysis By Type, 2023 to 2033
Figure 106: MEA Market Share By EAF– 2023 & 2033
Figure 107: MEA Market Attractiveness Analysis By EAF – 2023 to 2033
Figure 108: Oceania Market Value (US$ Mn) Forecast and Analysis, 2018 to 2022
Figure 109: Oceania Market Value (US$ Mn) Forecast and Analysis, 2023 to 2033
Figure 110: Oceania Market Value Y-o-Y Growth and Forecast, 2019 to 2033
Figure 111: Oceania Market Incremental $ Opportunity, 2022 to 2033
Figure 112: Oceania Market Share by Country– 2023 & 2033
Figure 113: Oceania Market Y-o-Y Growth Projections by Country, 2023 to 2033
Figure 114: Oceania Market Attractiveness Analysis by Country, 2023 to 2033
Figure 115: Oceania Market Share Analysis By Current Type, 2023 & 2033
Figure 116: Oceania Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 117: Oceania Market Attractiveness Analysis By Current Type, 2023 to 2033
Figure 118: Oceania Market Share Analysis By Type, 2023 & 2033
Figure 119: Oceania Market Value Y-o-Y Growth and Forecast, 2023 to 2033
Figure 120: Oceania Market Attractiveness Analysis By Type, 2023 to 2033
Figure 121: Oceania Market Share By EAF– 2023 & 2033
Figure 122: Oceania Market Attractiveness Analysis By EAF – 2023 to 2033
Figure 123: United States Market Value (US$ Mn) Forecast and Analysis, 2018 to 2033
Figure 124: United States Market Value, By Current Type, 2023 & 2033
Figure 125: United States Market Incremental $ Opportunity, 2023 to 2033
Figure 126: Canada Market Value (US$ Mn) Forecast and Analysis, 2018 to 2033
Figure 127: Canada Market Value, By Current Type, 2023 & 2033
Figure 128: Canada Market Incremental $ Opportunity, 2023 to 2033
Figure 129: Brazil Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 130: Brazil Market Value, By Current Type, 2023 & 2033
Figure 131: Brazil Market Incremental $ Opportunity, 2023 to 2033
Figure 132: Mexico Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 133: Mexico Market Value, By Current Type, 2023 & 2033
Figure 134: Mexico Market Incremental $ Opportunity, 2023 to 2033
Figure 135: Russia Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 136: Russia Market Value, By Current Type, 2023 & 2033
Figure 137: Russia Market Incremental $ Opportunity, 2023 to 2033
Figure 138: Germany Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 139: Germany Market Value, By Current Type, 2023 & 2033
Figure 140: Germany Market Incremental $ Opportunity, 2023 to 2033
Figure 141: France Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 142: France Market Value, By Current Type, 2023 & 2033
Figure 143: France Market Incremental $ Opportunity, 2023 to 2033
Figure 144: Austria Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 145: Austria Market Value, By Current Type, 2023 & 2033
Figure 146: Austria Market Incremental $ Opportunity, 2023 to 2033
Figure 147: Sweden Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 148: Sweden Market Value, By Current Type, 2023 & 2033
Figure 149: Sweden Market Incremental $ Opportunity, 2023 to 2033
Figure 150: China Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 151: China Market Value, By Current Type, 2023 & 2033
Figure 152: China Market Incremental $ Opportunity, 2023 to 2033
Figure 153: Japan Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 154: Japan Market Value, By Current Type, 2023 & 2033
Figure 155: Japan Market Incremental $ Opportunity, 2023 to 2033
Figure 156: South Korea Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 157: South Korea Market Value, By Current Type, 2023 & 2033
Figure 158: South Korea Market Incremental $ Opportunity, 2023 to 2033
Figure 159: India Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 160: India Market Value, By Current Type, 2023 & 2033
Figure 161: India Market Incremental $ Opportunity, 2023 to 2033
Figure 162: Vietnam Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 163: Vietnam Market Value, By Current Type, 2023 & 2033
Figure 164: Vietnam Market Incremental $ Opportunity, 2023 to 2033
Figure 165: Indonesia Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 166: Indonesia Market Value, By Current Type, 2023 & 2033
Figure 167: Indonesia Market Incremental $ Opportunity, 2023 to 2033
Figure 168: Turkiye Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 169: Turkiye Market Value, By Current Type, 2023 & 2033
Figure 170: Turkiye Market Incremental $ Opportunity, 2023 to 2033
Figure 171: Iran Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 172: Iran Market Value, By Current Type, 2023 & 2033
Figure 173: Iran Market Incremental $ Opportunity, 2023 to 2033
Figure 174: Egypt Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 175: Egypt Market Value, By Current Type, 2023 & 2033
Figure 176: Egypt Market Incremental $ Opportunity, 2023 to 2033
Figure 177: Australia Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 178: Australia Market Value, By Current Type, 2023 & 2033
Figure 179: Australia Market Incremental $ Opportunity, 2023 to 2033
Figure 180: New Zealand Market Value (US$ Mn), Forecast and Analysis, 2018 to 2033
Figure 181: New Zealand Market Value, By Current Type, 2023 & 2033
Figure 182: New Zealand Market Incremental $ Opportunity, 2023 to 2033
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- FAQs -
What was the global market size for 2022?
The market was reported at US$ 1.65 Million in 2022.
What value is the market estimated to reach in 2023?
The market is estimated to be valued at US$ 1.68 Billion in 2023.
What valuation is the market expected to reach by 2033?
The market is expected to reach a valuation of US$ 2.2 Billion by 2033.
What value CAGR did the market exhibit over the last 4 years?
The market registered a CAGR of 0.9% over the last 4 years.
What is the projected CAGR growth of the market from 2023 to 2033?
The market is projected to witness a CAGR of 2.7% from 2023 to 2033.
Which top current type of the market will garner significant value share by 2033 and what is its projected CAGR from 2033 to 2033?
The DC EAF current type is expected to garner a significant value share by 2033 and is expected to grow at a CAGR of 3.1% from 2023 to 2033.
Which top component type will garner significant value share by 2033 in the market and what is its projected CAGR from 2033 to 2033?
The market revenue through Electric Arc Furnace (EAF) is expected to garner a significant value share by 2033 and is expected to grow at a CAGR of 3.3% by 2033.
Which top EAF steelmaking capacity in Electric Arc Furnace and Components will garner significant value share by 2033 and what is its projected CAGR?
EAF of capacity below 100 tons is projected to witness garner a significant value share by 2033 and is expected to grow at a CAGR of 3.5% from 2023 to 2033 while its market size is estimated at US$ 1.01 Billion in 2023.
What is the expected market size for the United States by 2033 and what is its projected CAGR?
The market in the United States is projected to witness a size of US$ 3.2 Billion and is expected to grow at a 2.2% CAGR from 2023 to 2033.
Which are the key companies operating in the Market?
The key companies in the market include Schneider Electric, Mitsubishi Electric Corporation, ABB, Siemens, Toshiba, Tavrida Electric AG, Xiamen Huadian Switchgear Co., Ltd., Nippon Steel & Sumikin Engineering, Danieli, and Algoma Steel Group Inc.
Electric Arc Furnace (EAF) and Components Market