GREEN STEEL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global green steel market is estimated to be valued at USD 4.33 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 60.2% from 2024 to 2031. Green steel is steel produced using innovative lower carbon production methods. As concerns over climate change intensify globally, steel manufacturers are under increasing pressure to reduce greenhouse gas emissions arising from traditional coal-based steelmaking processes. The production of green steel relies on clean technologies like hydrogen reduction or electric arc furnaces combined with carbon capture utilization and storage to purify hot metal. This helps minimize carbon footprint and make steel production more environmentally sustainable. With many countries announcing bold net-zero emission targets for mid-century, the green steel market is expected to grow significantly to help various industries transition to low-carbon economy.

 Market Dynamics:

The global green steel market is driven by stringent environmental regulations regarding carbon emissions from heavy industries. Rising focus on sustainability across supply chains, and growing investments in clean hydrogen and renewable energy infrastructure critical for green steel production methods. However, high costs of setting up greenfield plants based completely on clean technologies and lack of infrastructure for supply of clean fuels present challenges. On the positive side, tangible opportunities exist in replacing aging steel assets with modern efficient systems, improving scrap metal recycling rates, and expanding carbon capture technologies to decarbonize the industry. With supportive government policies and innovative business models, the market is likely to witness extensive adoption of green manufacturing practices going forward.

 Key Features of the Study:

• This report provides in-depth analysis of the global green steel market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global green steel market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Ansteel Group , ArcelorMittal , Boston Metal , China Baowu Group , Cleveland-Cliffs , H2 Green Steel , Nippon Steel Corporation , Nucor Corporation , Steel Dynamics, Inc. , United States Steel Corporation , Jindal Stainless Limited, and Swiss Steel Group
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global green steel market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global green steel market

Detailed Segmentation-

• By Process Type:
• • Electric Arc Furnace (EAF)
  • Basic Oxygen Furnace (BOF)
  • Direct Reduced Iron (DRI)
• By End-Use Industry:
• • Construction
  • Automotive
  • Machinery
  • Others (Shipbuilding, Appliances, etc.)
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Ansteel Group
  • ArcelorMittal
  • Boston Metal
  • China Baowu Group
  • Cleveland-Cliffs
  • H2 Green Steel
  • Nippon Steel Corporation
  • Nucor Corporation
  • Steel Dynamics, Inc.
  • United States Steel Corporation
  • Jindal Stainless Limited
  • Swiss Steel Group