Blast Furnaces Market Will Showcase Neutral Impact During 2020-2024 | Large Installed Base of Blast Furnaces to Boost the Market Growth

Technavio has been monitoring the blast furnaces market and it is poised to grow by USD 869.14 mn during 2020-2024, decelerating at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Blast Furnaces Market 2020-2024 (Graphic: Business Wire)

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The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Danieli & C. Officine Meccaniche Spa, Gillanders Arbuthnot and Co. Ltd., IHI Corp., Larsen and Toubro Ltd., MECON Ltd., Metallurgical Corp. of China Ltd., Nippon Steel Corp., Noble Industrial Furnace Co. Inc., Primetals Technologies Ltd., and SMS Group GmbH are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Large installed base of blast furnaces has been instrumental in driving the growth of the market.

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