The global electric arc furnace industry market size is growing, from the perspective of regional distribution, the Asia-Pacific region is the main consumption area of the global electric arc furnace industry market, occupying more than 40% of the global market share. Europe and North America are also important consumption regions. From the perspective of product types, direct electric arc furnaces and indirect electric arc furnaces are the main product types in the global electric arc furnace industry, accounting for more than 90% of the global market share. According to the data, after the impact of the new crown epidemic in 2020, the global electric arc furnace industry market size began to rise, and the global electric arc furnace industry market size in 2022 was about 1.211 billion US dollars, and the future development prospects are also very broad. With the improvement of national environmental protection requirements and continuous innovation of technology, the electric arc furnace industry will be more widely used. With the rise of China's industrial added value, driving the development of China's electric arc furnace industry, according to the data, from 2017 to 2020 China's electric arc furnace industry market scale showed a downward trend, since 2017, the Chinese government began to strengthen the steel industry capacity reduction work, resulting in steel overcapacity, market demand decline, electric arc furnace industry market scale has also been affected. The Chinese government has strengthened the implementation of environmental protection policies and imposed stricter supervision on the production and emissions of the electric arc furnace industry, resulting in some small electric arc furnace enterprises being unable to withstand environmental protection investment and forced to withdraw from the market. The price of electric arc furnace raw materials such as scrap steel and scrap iron continues to rise, resulting in an increase in the production cost of electric arc furnace and a decline in corporate profits. The development of new energy vehicles has reduced the demand for traditional fuel vehicles, resulting in a decline in the market demand of the electric arc furnace industry in the field of auto parts. Since 2021, the market size of China's electric arc furnace industry has begun to show an upward trend, and the market size of China's electric arc furnace industry in 2022 will be about 2.093 billion yuan.

Electric arc furnace An electric furnace that uses the high temperature generated by the arc of the electrode to melt ore and metal. The energy is concentrated when the gas discharge forms an arc, and the temperature of the arc region is above 3000 °C. For smelting metal, the electric arc furnace has greater flexibility than other steelmaking furnaces, can effectively remove impurities such as sulfur and phosphorus, the furnace temperature is easy to control, the equipment occupies a small area, and is suitable for the melting of high-quality alloy steel.

Electric arc furnaces for steelmaking are classified according to the nature of power supply, lining nature, charging mode, transformer output power, and steel output mode. According to the nature of electric arc furnace power supply, electric arc furnace can be divided into three-phase electric arc furnace (AC), single-phase electric arc furnace (DC), self-consumption electric arc furnace and resistance electric arc furnace; According to the nature of the electric arc furnace lining, the electric arc furnace can be divided into alkaline electric arc furnace and acid electric arc furnace; According to the charging method, the electric arc furnace can be divided into two types: top loading and furnace door charging; According to the output power of the transformer, the electric arc furnace can be divided into three types: ordinary power, high power and ultra-high power; According to the steel discharge method, the electric arc furnace can be divided into three types: side steel, center steel and eccentric bottom steel.

Improvement of environmental protection requirements: With the improvement of national environmental protection requirements, the electric arc furnace industry will face stricter environmental protection standards and supervision, and enterprises need to increase environmental protection investment and improve the environmental performance of production technology and equipment; Strengthening of technological innovation: the electric arc furnace industry needs to strengthen technological innovation, improve product quality and production efficiency, reduce production costs, and improve market competitiveness; The improvement of industrial concentration: with the promotion of the country's capacity reduction work in the steel industry, the production capacity of the electric arc furnace industry will gradually be concentrated in large enterprises, and the industrial concentration of the industry will gradually increase; Development of new energy vehicles: With the development of new energy vehicles, the electric arc furnace industry will face new market demand, such as the production demand of batteries, motors and other parts will gradually increase; Expansion of international market: China's electric arc furnace industry will strengthen the expansion of the international market, improve product quality and service level, expand export scale, and increase international market share; In general, in the future, China's electric arc furnace industry will face more stringent environmental protection requirements and technological innovation challenges, and will also face new market opportunities and international market expansion. Electric arc furnace enterprises need to strengthen technological innovation, improve product quality and service level, and adapt to market changes and development trends.