The global green steel market is expected to grow from $7.4 billion in 2024 to $19.4 billion by the end of 2029, with a compound annual growth rate (CAGR) of 21.4%. Green steel, produced using hydrogen and renewable electricity, can cut emissions by up to 95% while maintaining quality.

The market’s growth is driven by factors such as increased social licensing pressures, rising CO2 emissions, government support, and technological advances in steelmaking. Revolutionary technologies like Molten oxide electrolysis (MOE) offer scalable and cost-effective solutions for reducing the industry’s carbon footprint.

Emerging startups like Blastr Green Steel AS and Stegra are leading the way in delivering ultra-low CO2 steel and decarbonizing the steel industry. The report covers market drivers, segments by processing techniques and end-users, and regional insights, highlighting Europe as the largest market due to high demand and key producers.

Market leaders in the green steel industry include ArcelorMittal, Blastr Green Steel AS, and Boston Metal. The report also addresses questions about market size, growth rate, driving factors, market segments, end-user dominance, regional market share, and more. Interested parties can request a sample copy of the global green steel market report.

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Read more at GlobeNewswire: Green Steel Industry Growing Fast with 21.4% CAGR