Boston, July 15, 2025 (GLOBE NEWSWIRE) — According to the latest study from BCC Research, “Global Green Steel Market” is expected to grow from $7.4 billion in 2024 to $19.4 billion by the end of 2029, at a compound annual growth rate (CAGR) of 21.4% from 2024 through 2029.
This report offers an overview of the global green steel market, emphasizing its growing role in promoting sustainability and reducing carbon emissions. It examines key production methods such as electric arc furnaces, hydrogen-based processes, and carbon capture technologies. The report also explores applications across the construction, transportation, and machinery industries, and provides regional insights for North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. It highlights market trends, major companies, and future opportunities, presenting a clear picture of the industry’s potential for growth.
This report is particularly relevant today as the steel industry faces urgent pressure to reduce its carbon footprint, due to its contributing around 8% of global emissions. Green steel, produced using hydrogen and renewable electricity instead of coal, can cut emissions by up to 95% while maintaining the same quality. With rising demand for sustainable materials in the automotive and construction sectors, and growing global investments in renewable energy, the need for green steel is rapidly increasing. This shift is also driven by heightened awareness of environmental impacts and the push for energy-efficient, eco-friendly manufacturing solutions.
The factors driving the market’s growth include:
Increased social licensing pressures for green steelmaking: People and communities are demanding cleaner industrial practices. Steel companies face growing expectations to reduce pollution and adopt green methods to maintain public trust and business approval.
Rising CO2 emissions and renewable targets in sustainable steelmaking: Steel production is a major source of CO₂. With global climate targets rising, there is a strong push to cut emissions and use renewable energy in steelmaking, driving demand for greener solutions.
Government support and investments for green steel manufacturing: Governments are offering funding, tax breaks, and policies to promote green steel. This support helps companies invest in cleaner technologies and scale up sustainable production.
Technological advances in steelmaking: Innovations like hydrogen-based steelmaking and carbon capture are making green steel more efficient and more affordable. These advances are key to transforming the industry.
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