Global electric arc furnace transformers market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a significant CAGR during the forecast period.
Global Electric Arc Furnace Transformers Market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
An electric arc furnace (EAF) is a heating unit like heater or boiler which heats charged material using an electric arc discharge. EAF transformers are used with ladle metallurgy stations or electric arc furnaces to convert low current high-voltage electrical power into high current low voltage electrical arcs inside an EAF furnace to melt certain metals like scrap steel.
Market Dynamics
A rising adoption of EAF transformers in various industries such as steel industry to melt scrap steel without changing electrical and chemical properties of the metal is the major driving factor behind the growth of the market. A growing demand for EAF transformers in various industrial processes, increasing requirement for EAF transformers in critical conditions in various industries, rising demand for EAF transformers from non-ferrous and ferrous metal industry and ongoing technological advancements in arc furnace transformers are expected to improve growth of the market during the forecast period.
However, challenges such as effects of environmental conditions on electricity generation and high initial cost of a new installation of EAF transformers are the major restraining factors that could hinder the growth of the market.
Global Electric Arc Furnace Transformers Market: Segmentation Analysis
By type, DC EAF transformer segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. A surge in the adoption of DC arc furnace transformers in steel production industry is accredited to the growth of the market. DC EAF transformers generally come in a rectifier and transformer package. The DC EAF transformer has an ability to withstand in stress conditions of furnace operation and other stresses associated with rectifier operations such as generated current harmonics, which make them more demandable in various industrial process applications. In addition, rising demand for DC EAF transformers in applications such as for melting scrap metal, ferroalloys production and in metallurgical industry are expected to expand growth of market during the forecast period.
Global Electric Arc Furnace Transformers Market: Regional Analysis
Region wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. Countries such as China, Japan, India, and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the high adoption of EAF transformers in various end-user industries across the region.
A surge in the adoption of EAF transformers in steel production industry, growing market for steel industry in the economies such as China, India and Japan and surge in the demand for iron, metal, steel, and many other materials for infrastructure development application are driving the growth of the market.
According to MMR study, in 2019, the countries such as China, India and Japan were the top three crude steel producing countries in the world. The official data by World Steel Association shows that, in 2019, China produced crude steel of 996.3 Mn metric tons followed by India with 111.2 Mn metric tons and Japan with 99.3 Mn metric tons. Also, South Korea was at number six position with 71.4 Mn metric tons of steel production. Thus, growing production of steel is expected to improve demand for EAF transformers in APAC region, which will ultimately propel the market growth.
The objective of the report is to present a comprehensive analysis of the Global Electric Arc Furnace Transformers Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Electric Arc Furnace Transformers Market dynamics, structure by analyzing the market segments and projects the Global Electric Arc Furnace Transformers Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Electric Arc Furnace Transformers Market make the report investor’s guide.
Scope of Global Electric Arc Furnace Transformers Market
Global Electric Arc Furnace Transformers Market, By Type
• AC EAF Transformers
• DC EAF Transformers
Global Electric Arc Furnace Transformers Market, By Application
• Steel Furnace
• Ladle Furnaces
• Ferro-alloy Furnaces
• Smelting Process
• Others
Global Electric Arc Furnace Transformers Market, By Region
• North America
US
Canada
• Europe
UK
France
Germany
Italy
Spain
Norway
Russia
• Asia Pacific
China
India
Japan
South Korea
Australia
Malaysia
Indonesia
• South America
Brazil
Mexico
Argentina
• Middle East and Africa
Global Electric Arc Furnace Transformers Market, Key Players
• ABB
• Siemens
• General Electric
• Toshiba
• CG
• Raychem RPG Private Limited
• Tamini Trasformatori S.r.l.
• Green Power Co., Ltd.
• Casey Equipment Corporation
• Sanding
• China XD Electric
• Uralelectrotyazhmash
• TEBA
• Electrotherm
• Shenda
• Kitashiba Electric
• Hyundai
• Yixing Xingyi
• Hammond Power Solutions Pvt. Ltd
• XX
• XX
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