Electric Arc Furnace Transformer: Introduction
- Electric arc furnace is a hot enclosed space, where heat is generated by using electrical arcing for melting certain metals such as scrap steel without changing electro-chemical properties of the metal
- Electric arc furnace transformers operate under extremely severe conditions caused by frequent overcurrents and over voltages generated due to short-circuits in the furnace and operation of furnace breaker
- Electric arc furnace transformers are built for steel furnaces, long arc ladle furnaces, ferro-alloy furnaces, and smelting of other materials
- Electric arc furnaces can be either of AC or DC arc furnaces. The power ratings of these transformers can range from 20 to 200 MVA
- These furnace transformers are primarily utilized in the steel industry for smelting scrap iron and for refining steel. Furthermore, they are used in various applications such as smelting glass & ceramics; manufacturing or refining materials such as ferrochromium, ferromanganese, different abrasive materials such as oxides and nitrides, semiconducting base materials, nano powders, etc.
Steel Production Segment to Expand Significantly
- Rise in adoption of electric arc furnace transformers in the steel industry due to their ability to melt the steel without changing its chemical and electrical properties is driving the market
- Increase in demand for electric arc furnace transformers in various industrial processes, increasing requirement in critical conditions in various industries, rising demand in the non-ferrous and ferrous metal industry, and technological advancements in furnace transformers are further propelling the electric arc furnace transformers market
- DC electric arc furnace transformers are suitable for the stress conditions of furnace operations and other stresses associated with rectifier operations such as generated current harmonics, which increases their demand in various process industries
- Rise in demand for DC electric arc furnace transformers in melting scrap metal, ferro alloys production, and in the metallurgical industry are boosting the electric arc furnace transformers market
Asia Pacific to Lead Global Electric Arc Furnace Transformers Market
- Asia Pacific is leading the electric arc furnace transformers market, as countries such as China, Japan, India, and South Korea are major contributors to the expansion of the market in the region. This expansion is also due to the high rate of adoption of electric arc furnace transformers in various end-user industries across the region.
- Higher usage of electric arc furnace transformers in the steel production industry and the increasing demand for iron, metal, steel, and several other materials for infrastructure development applications in emerging economies like China, India, Japan is also boosting the electric arc furnace transformers market in Asia Pacific
Key Players of Global Electric Arc Furnace Transformers Market
- Voltamp Transformers Ltd.
- Fuji Tusco Co. Ltd.
- Hammond Power Solutions Pvt. Ltd.
- Kitashiba Electric
Global Electric Arc Furnace Transformers Market: Research Scope
Global Electric Arc Furnace Transformers Market, by Type
- AC Electric Arc Furnace Transformers
- DC Electric Arc Furnace Transformers
Global Electric Arc Furnace Transformers Market, by Application
- Steel Production
- Ferroalloy Production
Global Electric Arc Furnace Transformers Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.