Green Steel Market Size, Share, and Outlook, 2025 Report- By Type (Electric Arc Furnace (EAF), Molten Oxide Electrolysis (MOE)), By End-User (Construction, Automotive, Electronics, Others), 2018-2032

Green Steel Market Outlook

Green Steel Market Size is forecast to reach $397.4 Billion in 2032 from $4.4 Billion in 2025, at an optimistic growth rate of 89.4% from 2025 to 2032. The robust Green Steel Market growth presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Green Steel Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Type (Electric Arc Furnace (EAF), Molten Oxide Electrolysis (MOE)), By End-User (Construction, Automotive, Electronics, Others). Over 70 tables and charts showcase findings from our latest survey report on Green Steel Markets.

Green Steel Market Insights, 2025:

Green Steel – Key Drivers and Opportunities

Green steel, which is produced with lower carbon emissions than traditional steel-making processes, is gaining significant attention due to its role in reducing the industrial carbon footprint. Traditional steel production is responsible for around 7-9% of global CO2 emissions, mainly due to the use of coal in blast furnaces. Green steel aims to use hydrogen-based direct reduction methods and electric arc furnaces powered by renewable energy to cut down on emissions. The growing demand for sustainable manufacturing and carbon-neutral production processes is driving investments in green steel technologies. Governments worldwide are setting net-zero carbon targets, which are pushing industries like construction, automotive, and infrastructure to adopt green alternatives. Additionally, increasing consumer demand for eco-friendly products and green certifications is pushing manufacturers to produce steel with a reduced environmental impact.

Opportunities in the green steel market are significant, especially as companies in heavy industries look to align with sustainability goals and comply with evolving regulations on carbon emissions. As the demand for sustainable infrastructure and electric vehicles rises, green steel is set to play a pivotal role in the supply chain. The development of green hydrogen and electrolysis technologies offers a promising path for scaling green steel production, which will open up growth opportunities for steel manufacturers and clean energy providers. Governments and industries are also investing heavily in carbon capture technologies, which will help reduce the emissions from the steel sector. As the price of renewable energy continues to fall and electric arc furnace technology advances, green steel is expected to become more commercially viable, resulting in increased adoption across industries such as automotive, construction, and renewable energy infrastructure.

Five Trends that will define global Green Steel Market in 2025 and Beyond

A closer look at the multi-million global market for Green Steel Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Green Steel Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Green Steel Industry?

The Green Steel Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Green Steel Market Segment Insights

The Green Steel Industry presents strong offers across categories. The analytical report offers forecasts of Green Steel Industry performance across segments and countries. Key segments in the industry include- By Type (Electric Arc Furnace (EAF), Molten Oxide Electrolysis (MOE)), By End-User (Construction, Automotive, Electronics, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Green Steel Market size outlook is provided for 22 countries across these regions.

Green Steel Industry Value Chain

The chapter identifies potential companies and their operations across the global Green Steel Industry ecosystem. It assists decision-makers in evaluating global Green Steel Market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Green Steel Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Green Steel Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Green Steel Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Green Steel Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Green Steel Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Green Steel Market Insights- Executives are most excited about opportunities for the US Green Steel Industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Green Steel Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Green Steel Market.

Latin American Green Steel Market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Green Steel Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Green Steel Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Green Steel Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Green Steel Companies outcompete in 2025 and Beyond?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Arcelor Mittal, Emirates Steel Arkan, Green Steel Group Inc, H2 Green Steel, JFE Steel Corp, Jindal Steel & Power Ltd, NIPPON STEEL Corp, Nucor Corp, POSCO International, U.S. Steel Corp.

Green Steel Market Scope and Segmentation

By Type

Electric Arc Furnace (EAF)

Molten Oxide Electrolysis (MOE)

By End-User

Construction

Automotive

Electronics

Others

Countries Included-

North America- US, Canada, Mexico

Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe

Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC

South and Central America- Brazil, Argentina, Chile, Rest of SCA

Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa

Companies Included in the Green Steel Market Research-

Arcelor Mittal

Emirates Steel Arkan

Green Steel Group Inc

H2 Green Steel

JFE Steel Corp

Jindal Steel & Power Ltd

NIPPON STEEL Corp

Nucor Corp

POSCO International

U.S. Steel Corp

Reasons to Buy the report

• Make informed decisions through long and short-term forecasts across 22 countries and segments.
• Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
• Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
• Get an integrated understanding of the entire market ecosystem and companies.
• Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
• Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
• Get free Excel spreadsheet and PPT versions along with the report PDF.