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【English Market Research Report】Global Market for Electric Arc Furnaces

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This report forecasts that the market size of electric arc furnaces is expected to increase by 659.73 million USD between 2023 and 2027, growing at a CAGR of 10.4% during the forecast period. The report includes a comprehensive analysis of the electric arc furnace market, market size and forecasts, trends, growth drivers and challenges, as well as vendor analysis covering approximately 25 companies. It also provides the latest analysis of current global market trends and drivers, as well as the overall market environment. The market is driven by the lower investment requirements of the electric arc furnace route compared to the BF-BOF route, new emission regulations in China, and the increasing applications of iron scrap. The study cites the increase in DRI production as one of the key reasons driving the growth of the electric arc furnace market in the coming years. Additionally, improvements in power supply infrastructure and the rise of private ownership in the global steel industry are expected to lead to significant demand in the market.

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