Top Electric Arc Furnace Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Electric Arc Furnace Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Electric Arc Furnace industry players.

Electric Arc Furnace Market Competitive Landscape

Electric arc furnace providers should focus on developing electric mixers to stand out from the competition and stay in line with sustainability trends. Targeting developing economies is slated to be more rewarding for companies as per this global electric arc furnace market forecast.

Use of innovative technologies to improve efficiency and electrification of mixers are popular trends among startups. Here’s a startup that is focusing on augmenting the operational efficiency of mixers.

  • Electra: The 2020-founded startup is focused on developing a novel low-temperature electrochemical process to produce green iron using renewable electricity and low-grade iron ores. Their process eliminates the need for carbon in ironmaking, serving as a sustainable alternative to traditional EAF and blast furnace methods. Based in Boulder, Colorado, Electra is backed by Bill Gates’ Breakthrough Energy Ventures and aims to revolutionize steel decarbonization at industrial scale. In April 2025, the company announced that it had raised USD 186 million in a Series B funding round to advance green steel production. Capricorn Investment Group and Temasek Holdings led this fund raise along with other investors.

Top Player’s Company Profiles

  • JFE Steel Corporation
  • Danieli
  • Nippon Steel Corporation (Japan)
  • Danieli & C. Officine Meccaniche SpA (Italy)
  • ArcelorMittal (Luxembourg)
  • Tenova S.p.A. (Italy)
  • SMS Group GmbH (Germany)
  • Electrotherm (India)
  • Paul Wurth IHI Co., Ltd. (Japan)
  • Primetals Technologies (U.K.)
  • Wuxi Dongxong Heavy Arc Furnace Co., Ltd. (China)
  • JP Steel Plantech Co. (Japan)

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Global Electric Arc Furnace Market size was valued at USD 791.46 Million in 2024 and is poised to grow from USD 888.02 Million in 2025 to USD 2230.3 Million by 2033, growing at a CAGR of 12.2% during the forecast period (2026–2033).

Electric arc furnace providers should focus on developing electric mixers to stand out from the competition and stay in line with sustainability trends. Targeting developing economies is slated to be more rewarding for companies as per this global electric arc furnace market forecast. 'Danieli & C. Officine Meccaniche S.p.A. (Italy) ', 'SMS group GmbH (Germany) ', 'Tenova S.p.A. (Italy) ', 'Electrotherm (India) ', 'Paul Wurth S.A. (Luxembourg) ', 'Nippon Steel Corporation (Japan) ', 'ArcelorMittal S.A. (Luxembourg) ', 'JP Steel Plantech Co. (Japan) ', 'Wuxi Dongxong Heavy Arc Furnace Co., Ltd. (China) ', 'Berry Metal Company (USA) ', 'Sarralle (Spain) ', 'CHNZBTECH (China) ', 'Metropolitan Equipment & Consultants Pvt. Ltd. (India) ', 'IHI Corporation (Japan) ', 'Tata Steel (India) ', 'Nucor Corporation (USA) ', 'Gerdau S.A. (Brazil) ', 'POSCO (South Korea) ', 'Electra (USA)'

Stringent environmental regulations are pushing steel manufacturers toward cleaner production technologies. Traditional blast furnaces emit large quantities of CO₂, whereas EAFs offer a more sustainable alternative by using scrap and renewable electricity. As governments set ambitious carbon neutrality targets, industries are investing heavily in low-emission technologies. The European Union’s Green Deal and similar policies in the United States and Asia are also expected to favor the global electric arc furnace market outlook in the long run.

Growth of EAF-Based Mini Mills in Emerging Economies: Lower capital requirements, modular scalability, and shorter construction times compared to integrated steel plants are promoting the popularity of mini mills. High investments in decentralized steel production to meet local demand efficiently is also making this a key electric arc furnace market trend for companies in the long run. These mini mills often use locally sourced scrap and renewable power, making them both cost-effective and environmentally friendly. Governments are also promoting domestic recycling and infrastructure development, which supports mini mill expansion.

Presence of a vast steel production base, rapid urbanization, and increasing scrap metal availability are helping cement the dominance of Asia Pacific in the global electric arc furnace industry. High investments in modernization of steel production plants in Asian countries and growing emphasis on infrastructure development are further boosting revenue generation for market players. Growing electricity infrastructure and environmental mandates are also estimated to crucially boost the adoption of electric arc furnace in this region.

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Global Electric Arc Furnace Market
Electric Arc Furnace Market

Report ID: SQMIG20I2377

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