Green Steel Market is expected to reach US$ 140,435.7 million by 2031 | Major Companies - H2 Green Steel, Tata Steel Ltd., ArcelorMittal, Voestalpine.

Market Size and Growth:

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. According to DataM Intelligence Report.

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The Green Steel Market refers to the global industry involved in the production, distribution, and adoption of environmentally sustainable steel. It focuses on reducing carbon emissions and energy consumption by using renewable energy, hydrogen-based methods, and recycling technologies. This market caters to industries aiming for sustainable construction, automotive, and manufacturing solutions while complying with stringent environmental regulations.

United States: Recent Developments of Green Steel Market

✅ September 2025: ArcelorMittal acquired Nippon Steel's stake in the AM/NS Calvert joint venture, making it fully owned, and announced over $3 billion in investments to modernize Alabama facilities with new electric arc furnaces for low-carbon steel production.

✅ October 2025: US Steel initiated construction on a new mill in Q4 2025, targeting first low-carbon steel shipments by 2026 as part of a $2.3 billion green steel investment.

✅ November 2025: Nippon Steel completed its acquisition of U.S. Steel, committing $11 billion in investments to U.S. assets by 2028 to advance green steel production.

Europe: Recent Developments of Green Steel Market

✅ September 2025: Salzgitter AG announced a three-year delay for next phases of its Salcos Green Steel Project due to economic conditions and regulatory uncertainties, despite €1 billion in state funding for green hydrogen-based production.

✅ October 2025: Multiple projects postponed, including SSAB's Luleå plant due to energy infrastructure delays, Thyssenkrupp's Duisburg direct reduction plant hydrogen tender suspension, and ArcelorMittal's Bremen/Eisenhüttenstadt conversions over high energy costs.

✅ November 2025: Traded volumes for flat-rolled green steel stagnated below 200,000 tonnes amid economic challenges, weaker industrial output, and 10% premium decline since year-start, though long-term foundations strengthened via policy and buyer shifts.

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Major Players:

Key companies in the Green Steel market include:

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

Market Growth Drivers:

Stringent Environmental Regulations:

✅ Global regulations like the EU's Carbon Border Adjustment Mechanism (CBAM) and net-zero emission targets compel steel producers to adopt greener methods, reducing the industry's 7-9% share of worldwide CO2 emissions. These policies create financial incentives for low-carbon steel and pressure from sectors like automotive and construction to procure sustainable materials.​

Government Support and Investments:

✅ Governments provide funding, tax credits, and subsidies such as those under the US Inflation Reduction Act for hydrogen-based production and electric arc furnaces, lowering costs and accelerating capacity expansion. This support addresses high initial investments, fostering scalability in regions like Europe and North America.​

Technological Innovations:

✅ Advances in hydrogen direct reduction, carbon capture, and renewable-powered electric arc furnaces enable up to 95% emission cuts while maintaining steel quality. These innovations, combined with recycling and resource conservation, meet rising demand from infrastructure and e-mobility sectors.​

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 for Green Steel Market:

⇥ 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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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Green Steel market?

➠ Who are the global key manufacturers of the Green Steel Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Green Steel market opportunities and threats faced by the vendors in the global Green Steel Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Green Steel market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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