Global Green Steel Market

Report Code: AVM253A

Publish Date: May 2025

Publisher: BCC Publishing

Category: Advanced Materials

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Report Highlights

The global green steel market is expected to grow from $7.4 billion in 2024 to $19.4 billion by 2029, at a compound annual growth rate (CAGR) of 21.4% from 2024 through 2029.

Report Includes

  • 35 data tables and 52 additional tables
  • An overview of the current and future global market for green steel
  • An analysis of the global market trends with market revenue data for 2023, estimates for 2024, forecasts for 2025, and projected CAGRs through 2029
  • Estimates of the size and revenue prospects of the global market, along with a market share analysis by processing technique, end use and region
  • Facts and figures pertaining to market dynamics, technological advances, regulations, and the impact of macroeconomic factors
  • Analysis of market opportunities with a review of Porter’s Five Forces and a value chain analysis taking into consideration the micro- and macro environmental factors prevailing in the market
  • Discussion of the importance of ESG in the market for green steel, consumer attitudes towards sustainability, assessment of risks and opportunities, ratings and matrices, and ESG practices in the industry
  • Analysis of relevant patents, with emphasis on emerging technologies and new developments in the green steel technologies and applications market
  • Analysis of the industry structure, including companies’ market shares and rankings, strategic alliances, M&A activity and a venture funding outlook
  • Profiles of the leading companies, including ArcelorMittal, Nucor Corp., SSAB Group, ThyssenKrupp AG and voestalpine AG

Report Scope

This report is a descriptive study providing future opportunities for manufacturing green steel and offer in-depth insights with a comprehensive and qualitative analysis, along with trends and opportunities prevailing in the market that can lead to growth of the green steel industry. It includes details about green steel production techniques and end-use industries. A regional analysis comprises North America, Europe, the Asia-Pacific, South America, and the Middle East and Africa. The rising sustainability and growing demand for steel make it attractive to the global market because green steel can be used in various end-use industries. The green steel industry provides a more environment-friendly alternative to traditional steel, elevating sustainability by reducing carbon emissions and environmental impact. The rising application of green steel in various fields significantly increases its potential in the global market.

For this analysis, the global markets for green steel were segmented into the following categories:

  • Processing techniques: electric arc furnace (EAF), hydrogen-based production, carbon capture, utilization and storage (CCUS), and others.
  • End-Uses: building and construction, transportation, machinery, and others.

BCC Research analyzed essential categories and regions to determine the present and future green steel market status and forecasted market growth from 2024 through 2029 with 2023 as a base year. This report also discusses current market dynamics, strategies and trends driving the demand for products, key product manufacturers, market ESG development, competitive landscape, and brief profiles of major global manufacturers. To understand the industry’s growth potential, the green steel market will be analyzed from an international and regional perspective. The market is segmented by region into the following areas: North America, Europe, the Asia-Pacific, South America, and the Middle East and Africa.

This report provides market estimates in terms of value ($ millions). Regional market sizes are also provided.

Report Synopsis

Report Metrics Details
Base year considered 2023
Forecast period considered 2024-2029
Base year market size $6.2 Billion
Market size forecast $19.4 Billion
Growth rate CAGR of 21.4% from 2024 to 2029
Units considered $ Millions
Segments covered By Processing Technique, End Use and Region
Regions covered North America, Europe, Asia-Pacific, South America, and the Middle East and Africa (MEA)
Key Market Drivers
  • Increased social licensing pressures for green steelmaking.
  • Rising CO2 emissions and renewable targets in sustainable steelmaking.
  • Government support and investments for green steel manufacturing.
  • Technological advances in steelmaking.
Companies studied
BLASTR GREEN STEEL ASBOSTON METAL
HELIOS PROJECT LTD.HYDNUM STEEL
LIBERTY STEEL GROUPNUCOR CORP.
SALZGITTER AGSMS GROUP GMBH
SSABSSG
STEGRATHYSSENKRUPP AG
VOESTALPINE AGARCELORMITTAL
AFRY AB
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Frequently Asked Questions (FAQs)

The estimated market size of the green steel market will be $19.4 billion by 2029, with a CAGR of 21.4%.
Key drivers include:
  • Increased social licensing pressures for green steelmaking.
  • Rising CO2 emissions and renewable targets in sustainable steelmaking.
The green steel market is segmented based on processing techniques, end-user, and region. Based on processing techniques the market is segmented into electric arc furnaces, hydrogen-based production, carbon capture, utilization and storage, and others. Based on end-use the market is segmented into building and construction, transportation, machinery, and others. Regional estimates and forecasts comprise North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
The building and construction segment in the green steel will continue to dominate the market by the end of 2029.
Europe holds the largest market share due to the extensive presence of key players in this region and the high demand for transportation and construction applications. Additionally, Sweden and Germany have been among the largest consumers of the technology and infrastructure materials.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

Let us assist you! Our analysts are ready to tailor this report to your specific need. Talk to Our Analyst

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Global Green Steel Market136Free
Chapter- 1: Executive Summary5Free
Chapter- 2: Market Overview8Free
Chapter- 3: Market Dynamics6Free
Chapter- 4: Emerging Technologies and Developments5Free
Chapter- 5: Market Segmentation Analysis52Free
Chapter- 6: Competitive Intelligence5Free
Chapter- 7: Sustainability in the Green Steel Industry: An ESG Perspective6Free
Chapter- 8: Appendix49Free

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Global Green Steel Market
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