Global Green Steel Market Overview: 2025-2030
Base Year: 2024
Historical Years: 2020–23
Forecast Years: 2025-2030
The Global Green Steel Market size is projected to grow at a CAGR of around 12.22% during the forecast period, 2025-30.
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Global Green Steel Market Dynamics: 2025-2030
Global Green Steel Market Driver:
Carbon Neutrality Targets of Countries to Strengthen Green Steel Market – Green Steel is anticipated to play a significant role across the globe in helping nations achieve their sustainable development goals & minimize their carbon footprints. Green Steel plays a critical role in decreasing the dependence of the countries on energy imports, safeguarding the environment, and satisfying the growing energy needs globally.
Additionally, there is a significant amount of CO2 emission while producing steel. Thus, governments around the world are developing decarbonizing strategies and promoting green steel, especially in sectors such as automotive & construction.
Global Green Steel Market (2025-30): Segmentation Outlook
The market report has segmented the market into the following categories:
Global Green Steel Market Development, By Production Technology, 2020-2030
-Electric Arc Furnace
-Molten Oxide Electrolysis
Global Green Steel Market Development, By Energy Source, 2020-2030
-Solar
-Wind
Global Green Steel Market Development, By End User, 2020-2030
-Buildings & Construction
-Automotive & Transportation (Including Marine)
-Electronics
-Industrial Equipment
-Others (FMCG, Defense, etc.)
Of them, the Automotive & Transportation sector is projected to acquire a considerable share of the Global Green Steel market during 2025-30.
Global Green Steel Market Development, By Region, 2020-2030
-North America
-South America
-Europe
Of all the regions globally, the Europe Green Steel market would foresee significant growth in the forthcoming years due to the initiatives taken by the European Union to minimize the carbon emissions from the steel industry by 2030.
The Global Green Steel Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2025–2030 at the global level. According to the analysis, the market has been further classified as:
Based on Production Technology:
- Electric Arc Furnace
- Molten Oxide Electrolysis
Here, Electric Arc Furnaces are expected to acquire a larger share in the Global Green Steel market over the forecast years. This can be explained by the fact the electric arc furnace efficiently reduces the energy required to make green steel, making it widely accepted for producing carbon-free steel. In 2020, Tata Steel Europe announced its plan to start generating green steel with the electric arc furnace (EAF) production technology in the Netherlands. Along with Tata steel, ArcelorMittal announced its strategy of producing fossil-free steel from EAF technology in Hamburg, Germany. Thus, implying the considerable hold of EAF in the overall market in the coming years and projecting a notable growth rate.
Furthermore, another crucial reason behind the majority share of EAF technology is its well-established base for the production of green steel. In addition, the surge in the price of CO2 emission certificates for steel manufacturers has been further facilitating the usage of technology for the manufacturing of green steel. For instance:
- The cost of carbon emission permits per ton of CO2 increased from nearly USD30.3 to USD80.84 from 2020 to 2021, as per the EU Emissions Trading System (EU ETS).
Additionally, governments’ push to reduce carbon emissions during steel manufacturing across Europe shall also display an increasing deployment of electric arc furnaces for green steel production from 2025 onwards.
Based on Energy Source:
- Solar
- Wind
- Others (Hydropower, Biomass energy, etc.)
Among them, both sources of energy, i.e., Solar & Wind, are predicted to hold a sizeable share in the production of green steel globally. In the past, there have been well-established green hydrogen production plants in Europe, Asia-Pacific, and North America, using wind energy to produce hydrogen. With the growing investment to produce renewable energy to reduce carbon emissions, the respective categories, i.e., wind & solar, are expected to enhance their market share for the production of green steel in the coming years.
Based on End User:
- Buildings & Construction
- Automotive & Transportation
- Electronics
- Industrial Equipment
- Others (FMCG, Defence, etc.)
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Top Companies Operating in the Global Green Steel Market:
-Green Steel Group
-H2 Green Steel
-Tata Steel
-HYBRIT
-Arcelor Mittal
-Celsa Steel UK
-Liberty Steel
-British Steel
-Outokumpu
-Voestalpine
-Arab Steel Co.
-Jindal Shadeed Group- Oman
-Essar Group-Saudi Arabia.
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