Global Green Steel Market to Soar from $2.4 Billion in 2023 to $320.67 Billion by 2030, with a 101.23% Growth Over the Forecast Period: Stellar Market Research Report

Estimated Revenue Growth:

Green Steel Market size was estimated around USD 2.4 billion in 2023. From 2024 to 2030, the global green steel market is projected to generate revenue of approximately USD 320.67 billion, an increase of 101.23%.

Green Steel Market Overview:

Stellar Market Research provides comprehensive and in-depth Green Steel Market analysis across a wide spectrum of industries, offering valuable insights into Green Steel Market size, growth trends, competitive landscapes, and emerging opportunities. Covering sectors such as technology, healthcare, consumer goods, industrial equipment, and more, Stellar Market Research leverages advanced analytics to deliver actionable intelligence tailored to the unique dynamics of each Green Steel Market. Whether exploring cutting-edge innovations in AI and smart technologies, analyzing evolving trends in consumer behavior, or assessing the impact of regulatory changes, Stellar Market Research equips businesses with the data-driven insights needed to navigate complex Green Steel Market environments and make informed strategic decisions.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/req_sample/Green-Steel-Market/2124

What are Green Steel Market Dynamics?

The global green steel market is being driven by an increase in initiatives to promote green steel production globally and reduce CO2 emissions.

To promote the use of low-carbon steelmaking technology, governments across the globe are putting laws and incentives into place, such as carbon pricing, tax cuts, and subsidies. International partnerships like the Mission Possible Partnership and the European Union's Green Deal are encouraging investment and innovation in the manufacture of green steel. Green steel adoption is also being accelerated by international environmental accords like the Paris Agreement, which are pressuring industry to line with climate ambitions.

Prominent steel manufacturers are also embracing greener manufacturing techniques including hydrogen-based direct reduction and electric arc furnaces, investing in renewable energy sources, and establishing aggressive decarbonization targets. Together, these initiatives are not just lessening the steel industry's carbon impact.

𝐍𝐞𝐞𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 + 𝐆𝐫𝐚𝐩𝐡𝐬 𝐇𝐞𝐫𝐞:https://www.stellarmr.com/report/enquire_now/Green-Steel-Market/2124

What is Green Steel Market Regional Insight?

In 2023, the European green steel market held the highest proportion of the worldwide market. According to the report, the cost of green steel in the domestic flat product market is indicative of a shared understanding of the importance of low-emission materials. As of June 8, the premium for CO2-reduced steel, which is mostly obtained from electric-arc furnaces (EAF), was between €200 and €300 per tonne. The building industry's looming laws and the automobile sector's need are driving the increased acceptability of and readiness to pay greater costs for environmentally friendly steel. Funding for green steel activities in France was secured by Luxembourg-based ArcelorMittal in January 2024.

At its steel factory in Dunkirk, northern France, the business has committed to investing €1.8 billion ($1.97 billion) to cut carbon emissions. Approved by the European Commission, the French government will offer a package of up to €850 million in subsidies. With the help of this funding, ArcelorMittal should be able to build a direct reduction facility and buy electric furnaces, which would help cut carbon emissions in the French industrial sector by 5.7%.

What is 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)

Production technology-based segments of the market include Molten Oxide Electrolysis (MOE), Carbon Capture and Storage (CCS), Hydrogen-Based Steel Production, Electric Arc Furnace (EAF), and Biomass-Based Steel Production. In 2023, the Electric Arc Furnace (EAF) sector held the highest market share for green steel. The production of steel using electric arc furnaces, or EAFs, is increasing overall. Approximately 25% of the world's steel production was initially derived from EAFs, but this percentage has since increased to 30% (560 million tonnes) by 2021. In 2023, planned EAF capacity increased to 43% of new capacity.

By End Use Industry

Construction

Automotive

Energy Sector

Manufacturing

Consumer Goods

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰! @https://www.stellarmr.com/report/req_sample/Green-Steel-Market/2124

Some of the current players in the Green Steel Market are:

POSCO International
Nucor Corporation (Nucor Tubular Products)
U.S. Steel Corporation
NIPPON STEEL CORPORATION
Arcelor Mittal
Jindal Steel & Power Ltd.
Emirates Steel Arkan
Green Steel Group Inc.
H2 Green Steel
JFE Steel Corporation
Voestalpine AG
Salzgitter AG
SSAB
Thyssenkrupp Steel Europe
Tata Steel

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐥𝐞𝐚𝐬𝐞 𝐕𝐢𝐬𝐢𝐭:https://www.stellarmr.com/report/Green-Steel-Market/2124

Key Questions answered in the Green Steel Market Report are:

Which region held the largest Green Steel Market share in the Green Steel Market?
What is the expected Green Steel Green Steel Market size by 2030?
Which factors are the opportunities for the Green Steel Green Steel Market growth?
What are investment opportunities for the Green Steel Green Steel Market?
What are the recent industry trends that were implemented to generate additional revenue streams for the Green Steel Market?
Which segment dominates the Green Steel Market?

Key Offerings:

Past Market Size and Competitive Landscape
Green Steel Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Green Steel Market Segmentation - A detailed analysis by Product
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:

Stellar Market Research is a multifaceted Green Steel Market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide Green Steel Market-verified industry estimations, technical trend analysis, crucial Green Steel Market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.