Press release
Global Green Steel Market Valued at USD 2.4 Billion in 2023, Set to Skyrocket by 101.23%, Reaching USD 320.67 Billion by 2030
Global Green Steel Market
Green Steel Market size was valued at USD 2.4 Bn. in 2023. The total Green Steel Market revenue is expected to grow by 101.23% from 2024 to 2030, reaching nearly USD 320.67 Bn.
Green Steel Market Overview:
Green steel is produced using low-carbon energy sources such as hydrogen, coal gasification, or electricity instead of fossil fuels. This eco-friendly method reduces greenhouse gas emissions, cuts costs, and enhances steel quality. Utilizing low-carbon hydrogen, such as blue and green hydrogen, significantly reduces the steel industry's carbon footprint.
The green steel market within the steel industry represents a transformative shift that emphasizes the responsibility of sustainability and the environment. This is driven by the global need to reduce carbon emissions and combat climate change, given that traditional steel production is one of the largest industrial sources of CO2 emissions.
๐๐ง๐ฅ๐จ๐๐ค ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐ฎ๐ซ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:https://www.stellarmr.com/report/Green-Steel-Market/2124
What are Green Steel Market Dynamics?
Collaboration: Masdar and Emirates Steel Arkan are collaborating on a pilot green hydrogen project set to commence operation in early 2024 at the Industrial City of Abu Dhabi. This initiative aims to decarbonize steel production by replacing natural gas with green hydrogen in the iron extraction process from iron ore. Emirates Steel Arkan aims to achieve a 40% reduction in carbon emissions by 2030 and net-zero emissions by 2050, marking a significant step towards sustainable steel manufacturing in the MENA region.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ + ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐๐ซ๐:https://www.stellarmr.com/report/req_sample/Green-Steel-Market/2124
What is Green Steel Market Regional Insight?
Europe Green Steel Market dominated the global market in 2023 with the largest share. As per the study, the green steel pricing in the domestic flat product market reflects a consensus on the value of low-emission materials. The premium for CO2-reduced steel, mainly sourced from electric-arc furnaces (EAF), ranged from โฌ200-300 per tonne as of June 8. Demand, driven by automotive sectors and impending legislation in construction, signals growing acceptance and willingness to pay higher prices for environmentally friendly steel. ArcelorMittal, based in Luxembourg, has secured funds for green steel initiatives in France in January 2024.
What is Green Steel Market Segmentation?
By Production Technology
Hydrogen-Based Steel Production
Electric Arc Furnace (EAF)
Carbon Capture and Storage (CCS)
Biomass-Based Steel Production
Molten Oxide Electrolysis (MOE)
By End Use Industry
Construction
Automotive
Energy Sector
Manufacturing
Consumer Goods
๐ ๐๐๐ ๐๐๐ญ ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ!https://www.stellarmr.com/report/req_sample/Green-Steel-Market/2124
Some of the current players in the Green Steel Market are:
POSCO International
Nucor Corporation (Nucor Tubular Products)
U.S. Steel Corporation
NIPPON STEEL CORPORATION
Arcelor Mittal
Jindal Steel & Power Ltd.
Emirates Steel Arkan
Green Steel Group Inc.
H2 Green Steel
JFE Steel Corporation
Voestalpine AG
Salzgitter AG
SSAB
Thyssenkrupp Steel Europe
Key Offerings:
Past Market Size and Competitive Landscape
Green Steel Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Green Steel Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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Contact Stellar Market Research:
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sales@stellarmr.com
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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