Green Steel Market: Global Industry Analysis and Forecast (2024 -2030)

Green Steel Market size was valued at USD 2.4 Bn. in 2023. The total Green Steel Market revenue is expected to grow by 101.23% from 2024 to 2030, reaching nearly USD 320.67 Bn. as per Stellar Market Research

Stellar Market Research, has published market intelligence and competitive landscape report on the Green Steel Market. The report is a combination of primary data and secondary data and field experts have examined the Green Steel Market from a local, regional and global point of view. Over the forecast period, Stellar Market Research expects the Green Steel Market to grow from USD 2.4 Bn. in 2023 and is expected to grow by 101.23% from 2024 to 2030, reaching nearly USD 320.67 Bn.

To access more details regarding this research, visit the following webpage:https://www.stellarmr.com/report/Green-Steel-Market/2124

Green Steel Market Overview:

Green steel, produced using low-carbon energy sources such as hydrogen, coal gasification, or electricity, offers a sustainable alternative to traditional steel production, significantly reducing greenhouse gas emissions and production costs while enhancing steel quality. The green steel market is composed for rapid growth due to increasing regulatory pressures, technological advancements, and rising demand from various industries. This shift towards eco-friendly steel production is driven by the global imperative to reduce carbon emissions and combat climate change, with major industry players like POSCO International, ArcelorMittal, Thyssenkrupp, and SSAB leading the way in adopting and promoting green steel technologies.

Green Steel Market Dynamics:

Governments worldwide are implementing policies and incentives, such as carbon pricing, tax breaks and subsidies, to encourage the adoption of low-carbon steelmaking technologies. International collaborations, like the European Union's Green Deal and the Mission Possible Partnership, are fostering innovation and investment in green steel production. Additionally, global environmental agreements, including the Paris Agreement, are pushing industries to align with climate targets, further boosting green steel adoption.

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Global Initiatives include:

First Movers Coalition: An initiative by the World Economic Forum to decarbonize industrial sectors like steel. It has expanded to include 55 companies and nine countries committed to purchasing industrial materials and transport from near-zero or zero-carbon suppliers.



SteelZero and ConcreteZero: Corporate partnerships under the Climate Group, with 25 companies in SteelZero and 22 in ConcreteZero, committed to using net-zero steel and low- and net-zero emission concrete and cement.



Green Steel Market Regional Insight:

Europe Green Steel Market dominated the global market in 2023 with the largest share. The premium for CO2-reduced steel, mainly sourced from electric-arc furnaces (EAF), ranged from €200-300 per tonne as of June 8. The company has agreed to invest €1.8 billion ($1.97 billion) to reduce greenhouse emissions at its steel plant in Dunkirk, northern France. The French government will provide a subsidy package of up to €850 million, approved by the European Commission. Asia Pacific Green Steel Market is expected to grow at a high rate during the forecast period. Nippon Steel is planning a $700 million 'Green Steel' project, aiming to replace coal with hydrogen to reduce emissions.

Green Steel Market Segmentation:

By Production Technology:

Hydrogen-Based Steel Production
Electric Arc Furnace (EAF)
Carbon Capture and Storage (CCS)
Biomass-Based Steel Production
Molten Oxide Electrolysis (MOE)


By End use industry:

Construction
Automotive
Energy Sector
Manufacturing
Consumer Goods


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Leading Green Steel Market key industry:

POSCO International
Nucor Corporation (Nucor Tubular Products)
S. Steel Corporation
NIPPON STEEL CORPORATION
Arcelor Mittal
Jindal Steel & Power Ltd.
Key questions answered in the Green Steel Market are:

What is Green Steel Mode?
What segments are covered in Global Green Steel Market report?
Which region is expected to hold the largest share of Global Green Steel Market?
What is the expected Global Green Steel Market Size by 2030?
What is the key Driver of the Global Green Steel Market?
Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis of the Offerings, Vertical, Application and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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