Blast Furnaces Market in the Industrial Machinery Industry to grow by USD 521.11 million| Emerging Trends, Company Risk, and Key Executives|Technavio

NEW YORK, July 9, 2021 /PRNewswire/ -- The blast furnaces market is set to grow by USD 521.11 million, decelerating at a CAGR of 1.59% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Read the 120-page report with TOC on "Blast Furnaces Market Analysis Report by Application (Revamping projects and Capacity additions) and Geography (APAC, Europe, North America, MEA, and South America), and the Segment Forecasts,2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/blast-furnaces-market-industry-analysis

The blast furnaces market is driven by the large installed base of blast furnaces. In addition, the regulations requiring steel plants to reduce the environmental footprint are anticipated to boost the growth of the Blast Furnaces Market.

The global steel industry follows two routes of producing crude steel, namely the BF-BOF and EAF routes. The BF-BOF route is followed in integrated steel plants and the EAF route in steel mini-mills. The limited availability of scrap steel and affordable electricity in major export hubs of the world did not encourage significant adoption of the EAF route. On the other hand, there are large reserves of iron ore and coking coal in the world, making them the primary raw materials to produce crude steel. Thus, major steel producers of the world have invested in large integrated steel plants which drive the replacement market for blast furnaces.

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Major Five Blast Furnaces Companies:

China Metallurgical Group Corp.

China Metallurgical Group Corp. offers various types of products such as core technology equipment, structural steel, and mine construction.

Danieli & C. Officine Meccaniche Spa

Danieli & C. Officine Meccaniche Spa offers various types of products such as processes and technologies and technological packages.

Gillanders Arbuthnot and Co. Ltd.

Gillanders Arbuthnot and Co. Ltd. offer various types of products such as tea and textile.

IHI Corp.

IHI Corp. offers various types products such as blast furnaces, dc electric arc furnaces, stepping cylinders.

Larsen and Toubro Ltd.

Larsen and Toubro Ltd. offer various types of segments such as industry and business.

Blast Furnaces Market Application Outlook (Revenue, USD million, 2020-2025)

• Revamping projects - size and forecast 2020-2025
• Capacity additions - size and forecast 2020-2025

Blast Furnaces Market Geography Outlook (Revenue, USD million, 2020-2025)

• APAC - size and forecast 2020-2025
• Europe - size and forecast 2020-2025
• North America - size and forecast 2020-2025
• MEA - size and forecast 2020-2025
• South America - size and forecast 2020-2025

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