LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global sinter plant market to grow at a CAGR of close to 4% during the forecast period, according to their latest market research report.
The improving share of coastal areas in global steel production is one of the major trends being witnessed in the global sinter plant market 2018-2022. With the growing concerns of inland pollution, the steel mills are shifting from inland to coastal areas. This can be attributed to the high wind speeds encountered in coastal areas that can diffuse emission from a steel plant quicker than low wind speeds encountered in inland areas. For instance, Jiangsu and Hebei provinces are encouraging steel producers to move to coastal areas in order to decrease smog during winters in and around Shanghai and Beijing. Coastal sites can also reduce the cost of logistics as they facilitate material handling.
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According to Technavio analysts, one of the key factors contributing to the growth of the global sinter plant market is the improvement in sinter technology:
Global sinter plant market: Improvement in sinter technology
Blast furnace accounts for most of the energy consumed by an integrated steel plant. Technological advancements in sinter technology help in producing sinter with better qualities, which eventually minimizes energy consumption in a blast furnace. For instance, vendors in the market started offering sinter plant that can provide sinter material that has high permeability and homogeneity. This enhances the efficiency of heat transferred between sinter or burden material and hot gases. Such advances in technology are expected to positively impact the growth of the global sinter plant market during the forecast period.
According to a senior analyst at Technavio, “The electricity conversion factors of power plants have improved significantly owing to the latest power generation technologies. This, coupled with the enhanced efficiency of consumer devices and a large increase in power generation, has led to most of the steel producing countries having surplus electric power. The adequate availability of electricity and improved power supply infrastructure is fueling the growth of the market.”
Global sinter plant market: Segmentation analysis
The global sinter plant market research report provides market segmentation by product (material handling, mixing, and granulation system, sinter machine, waste gas recirculation system, and sinter cooler and screening system), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC region held the largest share of the market in 2017, followed by EMEA and the Americas respectively. The APAC region will continue to dominate the global market with the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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