Electric Arc Furnace Transformers: Introduction
- Electric arc furnace (EAF) transformers are heating installations used for material melting with the help of heat produced by an arc
- Electric arc furnace transformers are of two types: AC EAF transformers and DC EAF transformers
- Electric arc furnace transformers are used in industrial processes that are performed at a higher voltage range of up to several MVAs (mega volt amperes)
- EAF transformers are employed in various industrial applications such as the smelting process as well as in steel furnaces, ladle furnaces, and ferroalloy furnaces
Rise in Demand for Electric Arc Furnace Transformers in Steel Production Plants
- In steel production plants, electric arc furnace transformers are increasingly used in the production of carbon steel and specialty steels
- Electric arc furnace transformers are employed to deliver high current over a wide range of voltages. Depending on load handling requirement, these transformers are capable to deliver power rating between 10 MVA and 300 MVA
- Advancements in metallurgical technology have significantly changed the operation of electric arc furnaces, as time period of applied heat of 4 to 5 hours with moderate loading have been reduced to 3 to 4 hours with continuous high loading
- Owing to these advancements, the lifespan as well as production efficiency of electric arc furnace transformers has increased. As a result of this, the demand for electric arc furnace transformers is rising for use in steel production plants. This factor is expected to drive the global electric arc furnace transformers market during the forecast period.
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Increase in Use of Electric Arc Furnace Transformers in Industrial Processes
- Electric arc furnace transformers are used in various industries, such as ferrous metal industry and non-ferrous metal industry, as these transformers provide higher current than the conventional transformers
- Furthermore, electric arc furnace transformers provide low-voltage variations that suit furnace applications. As a result, electric arc furnace transformers are increasingly used in industrial furnace processes. This is anticipated to fuel the global electric arc furnace transformers market during the forecast period.
DC Electric Arc Furnace Transformers Segment to Witness Lucrative Opportunities
- Based on type, the global electric arc furnace transformers market can be segmented into AC electric arc furnace transformers and DC electric arc furnace transformers
- Earlier, AC electric arc furnace transformers were used in various industries for furnace operation. However, fluctuations in high-voltage signals is considered a drawback of AC electric arc furnace transformers
- In order to overcome this issue, DC electric arc furnace transformers are used for high-voltage signals, as they have high efficiency and they deliver continuous power supply without fluctuations
- Owing to these benefits, popularity of DC electric arc furnace transformers is rising for use in industrial applications. This factor is expected to boost the global electric arc furnace transformers market during the forecast period.
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North America to Lead Global Market
- In terms of region, the global electric arc furnace transformers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to dominate the global electric arc furnace transformers market throughout the forecast period, owing to increasing demand for steel, iron, and a few other materials required for infrastructure development in the region
- The electric arc furnace transformers market in Europe and North America is expected to witness significant growth from 2019 to 2027. The market in Latin America and Middle East & Africa is estimated to witness substantial growth during the forecast period.
Key Players in Global Market
The global electric arc furnace transformers market was highly fragmented in 2018. Prominent players operating in the global market are focusing on technological developments and expansions to meet the increasing demand for electric arc furnace transformers. Moreover, manufacturers are entering into partnerships for the development of innovative products.
Key players operating in the global electric arc furnace transformers market include:
- General Electric
- Raychem RPG Private Limited
- Tamini Trasformatori S.r.l.
- Green Power Co., Ltd.
Global Electric Arc Furnace Transformers Market: Research Scope
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
Global Electric Arc Furnace Transformers Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin 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.
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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.
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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.