Green steel Market Scope
The green steel manufacturing process is the hydrogen-based direct reduction of iron ore. The process involves chemically reducing solid iron ore using green hydrogen to produce an intermediate product known as sponge iron. Various countries are expected to use green steel to reduce carbon footprints and achieve sustainable development goals in the future. It is made using green hydrogen derived from renewable sources without fossil fuels. The consumer & producers' propensity toward sustainable products & increasing government initiatives globally have contributed significantly toward bolstering the growth of the Global Green Steel market. Growing industrial emissions from steel products have compelled organizations to launch strategies & partnerships with private steel-making entities to boost the production of green steel globally. Moreover, the progressive approach of companies in the automobile sector, such as General Motors, BMW, etc., to use recycled & low-carbon steel for production is one of the major shifts observed that would influence the demand for green steel in coming years.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | Green Steel Group (Italy), H2 Green Steel (Sweden), Deutsche Edelstahlwerke (Germany), Tata Steel (India), HYBRIT (Sweden), ArcelorMittal (Luxembourg), Emirates Steel (United Arab Emirates), Sheffield Forgemasters (United Kingdom), Celsa Steel UK (United Kingdom) and Liberty Steel (United Kingdom) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Global Green steel market throughout the predicted period.
Green Steel Group (Italy), H2 Green Steel (Sweden), Deutsche Edelstahlwerke (Germany), Tata Steel (India), HYBRIT (Sweden), ArcelorMittal (Luxembourg), Emirates Steel (United Arab Emirates), Sheffield Forgemasters (United Kingdom), Celsa Steel UK (United Kingdom) and Liberty Steel (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Jindal Steel & Power (India), Thyssenkrupp (Germany), Baowu Steel Group (China), British Steel (United Kingdom) and Outokumpu (Finland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Green steel market by Type and Region with country level break-up.
On the basis of geography, the market of Green steel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2024.
Market Leaders and their expansionary development strategies
In february 2025, Blastr Green Steel successfully completed a strategic partner financing round to advance the development of an ultra-low CO₂ steel value chain. This initiative aims to establish a European integrated green steel production facility, contributing to the decarbonization of the steel industry.
In october 2024, Greensteel Australia partnered with Danieli to construct a 600,000-tonne-per-year green steel plant. This facility is designed to produce steel with significantly reduced carbon emissions, utilizing advanced technologies to achieve environmental sustainability.
Influencing Trend:
Rising Interest in Circular Economy
Market Growth Drivers:
Decarbonization Policies & Carbon Neutrality Goals and Advancements in Hydrogen-Based Steelmaking
Challenges:
Consumer Awareness & Market Demand
Restraints:
High Production Costs
Opportunities:
Increasing Carbon Pricing & Taxes and Infrastructure Investment in Renewable Energy
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others