United States Green Steel Market is expected to reach US$ 140,435.7 Million by 2031 | Major key players - H2 Green Steel, Tata Steel Ltd., ArcelorMittal.

Market Size and Forecast:

The Global Green Steel Market size reached US$ 201.3 million in 2022 and is expected to reach US$ 140,435.7 million by 2031, growing with a CAGR of 126.7% during the forecast period 2024-2031.

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The Green Steel Market refers to the global industry focused on producing steel using environmentally sustainable processes that significantly reduce carbon emissions. It includes technologies such as hydrogen-based steelmaking, electric arc furnaces, and carbon capture methods. Driven by government regulations, corporate sustainability goals, and rising demand for eco-friendly construction and automotive materials, the market is poised for rapid growth.

Industry Recent Developments:

USA:
As of September 2025, US start-up firms have pilot plants for making steel with low carbon emissions, working on scaling up green steel production at commercial levels.

Throughout 2025, American companies have shifted extensively towards electric arc furnace steel production with low CO2 emissions, establishing leadership in green steel production technologies.

Japan:
In September 2025, Japan's Nippon Steel actively advances hydrogen-based direct reduction iron (DRI) innovation for greener steel production targeting carbon neutrality by 2050.

In February 2025, Nissan Motor announced expanding the use of low-CO2 emission steel manufactured in Japan, planning to increase this proportion fivefold by fiscal year 2025 compared to 2023.

Europe:
By September 2025, the European green steel market is growing rapidly due to stringent environmental policies and carbon neutrality goals, with key players like SSAB, Tata Steel, and H2 Green Steel leading hydrogen-based steel-making innovations.

In September 2025, Germany continues to lead in Europe's green steel market with heavy investments from companies such as ThyssenKrupp and ArcelorMittal to expand green steel production capacities in line with the European Green Deal goals.

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Major Key Players:

H2 Green Steel
Tata Steel Ltd.
ArcelorMittal
Voestalpine
Boston Metal
Nucor Corporation
SSAB
Nippon Steel Corporation
JFE Steel Corporation
Salzgitter AG

Key Growth Drivers:

Increasing environmental regulations and global commitments to reduce carbon emissions, especially countries aiming for net zero emissions by 2050, which push the steel industry to adopt greener production methods.

Government support and investments, including funding, tax breaks, and policies that promote the adoption of clean steelmaking technologies such as hydrogen reduction and electric arc furnaces powered by renewable energy.

Technological advancements in steelmaking processes, like hydrogen-based steel production, carbon capture, and innovative methods such as molten oxide electrolysis, making green steel more efficient, scalable, and cost-effective.

Segments Covered in the Green Steel Market:

By Type: Electric Arc Furnace (EAF), Molten Oxide Electrolysis (MOE).

By Energy Resource: Hydrogen, Coal Gasification and Electricity.

By End-User: Construction, Automotive, Electronics, Industrial Equipment and Others.

Regional Analysis:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Green Steel market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Green Steel Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The Global Green Steel market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Green Steel Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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