Press release
Analyze the Green Steel Market, which is set to reach $56.6 billion by 2031.
Meticulous Research®, a premier global market research firm, is pleased to announce the release of its latest report titled, "Green Steel Market by Process (Electric Arc Furnace (EAF), Molten Oxide Electrolysis (MOE), Others), End-use Industry (Buildings & Construction, Automotive, Electronics, Manufacturing, Aerospace, Others), and Geography-Forecasts to 2031."Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5979
The groundbreaking research forecasts that the green steel market is set to reach an impressive $88.4 billion by 2031, expanding at a remarkable compound annual growth rate (CAGR) of 56.6% from 2024 to 2031. This robust growth is underpinned by a heightened awareness of greenhouse gas emissions from traditional steel production methods, substantial government backing and investment in green steel technologies, and a growing influx of funding into green steel initiatives. Despite these positive trends, the market faces potential challenges due to the high costs associated with green steel production. Nevertheless, rising demand for low-carbon steel in the automotive sector and ongoing advancements in green steel technologies are expected to fuel further market opportunities. Challenges related to the availability of renewable energy sources also loom on the horizon.
The report meticulously segments the green steel market by process and end-use industry, and provides an in-depth analysis of industry competitors along with regional and country-specific market insights.
Market Segmentation and Key Insights
Process Segment: The green steel market is divided into Electric Arc Furnace (EAF), Molten Oxide Electrolysis (MOE), and other processes. In 2024, the Electric Arc Furnace (EAF) segment is projected to dominate with a share exceeding 57.0% of the global market. This dominance is attributed to the EAF's effectiveness in significantly curbing carbon emissions, its flexibility to adjust production in response to demand variations, and its capacity to utilize up to 100% steel. The EAF segment is also anticipated to experience the highest CAGR throughout the forecast period.
End-Use Industry Segment: The market is further categorized by end-use industries including buildings & construction, automotive, electronics, manufacturing, aerospace, agriculture, energy & power, oil & gas, and others. The automotive sector is expected to hold the largest market share of over 23.0% in 2024, driven by the industry's commitment to sustainable practices and strategic initiatives to incorporate green steel into production processes. Meanwhile, the buildings & construction sector is forecasted to achieve the highest CAGR during the projection period.
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Geographic Insights:
Regionally, the green steel market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Europe is anticipated to command the largest share of over 41.0% in 2024, fueled by significant investments in carbon-free steel production facilities, ongoing infrastructure development, and a strong focus on decarbonization among European steelmakers. Conversely, the Asia-Pacific region is poised to exhibit the highest growth rate, with a CAGR of 59.0% during the forecast period.
Meticulous Research® continues to provide actionable insights and comprehensive analysis to support strategic decision-making in the green steel industry. For more detailed information, please refer to the full report or contact our research team.
Key Players:
The key players operating in the green steel market are H2 Green Steel (Sweden), Thyssenkrupp AG (Germany), Tata Steel Ltd. (India), ArcelorMittal S.A. (Luxembourg), Emirates Steel (UAE), Green Steel Group (Italy), Jindal Steel and Power (India), Swiss Steel Group (Switzerland), Nippon Steel Corporation (Japan), Cleveland-Cliffs Inc. (U.S.), Nucor Corporation (U.S.), JFE Steel Corporation (Japan), among others.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/green-chemicals-market-5008
Key questions answered in the report-
• Which are the high-growth market segments based on process and end-use industry?
• What was the historical market for green steel?
• What are the market forecasts and estimates for the period 2024-2031?
• What are the major drivers, restraints, and opportunities in the green steel market?
• Who are the major players, and what shares do they hold in the green steel market?
• How is the competitive landscape in the green steel market?
• What are the recent developments in the green steel market?
• What are the different strategies adopted by the major players in the green steel market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global green steel market, and how do they compete with the other players?
Related Reports:
Green Chemicals Market: https://www.meticulousresearch.com/product/green-chemicals-market-5008
Green Building Materials Market: https://www.meticulousresearch.com/product/green-building-materials-market-5985
Hot Melt Adhesives Market: https://www.meticulousresearch.com/product/hot-melt-adhesives-market-5984
Article Links:
North America Healthcare IT Marke: https://www.linkedin.com/pulse/north-america-healthcare-market-size-share-forecast-trends-aadhan-opblf/
Augmented Reality Market: https://www.linkedin.com/pulse/augmented-reality-market-2031-analysis-size-share-trends-gtfpf/
Small Modular Reactors Market: https://www.linkedin.com/pulse/small-modular-reactors-market-trends-size-share-forecast-divya-jagtap-u9lrf/
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
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About the company:
We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
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