- The global steel processing market is increasingly focusing on sustainability by shifting from traditional coal-based production methods to electric arc furnace technology. This shift helps reduce energy consumption and carbon emissions, aligning with growing environmental concerns across industries
- Electric arc furnace technology not only supports environmental goals but also offers flexibility in raw material usage by recycling scrap steel. This enables manufacturers to optimize costs and reduce waste, making steel processing more efficient and sustainable
- North America dominates the steel processing market with the largest revenue share of 89.55% in 2024, driven by strong presence of advanced manufacturing facilities and large-scale infrastructure investments across sectors such as automotive, construction, and energy
- Asia-Pacific is expected to be the fastest growing region in the steel processing market during the forecast period due to 62.12% share, driven by rapid industrialization, urbanization, and escalating infrastructure investments in countries
- The carbon steel segment dominates the largest market revenue share with 33.05% due to its widespread use in construction, automotive, and manufacturing due to its versatility, strength, and cost-effectiveness
