Report Ocean has just released an all-encompassing market research report delving deep into the Green Steel Market industry. This report furnishes readers with invaluable insights into both present and future industry trends, equipping them with the means to discern the factors driving revenue growth and profitability. It meticulously scrutinizes the critical factors that impact both the global and regional markets, encompassing drivers, limitations, risks, challenges, opportunities, and trends specific to the industry. Additionally, the report underscores global certainties, undertakes comprehensive analysis of key players from upstream to downstream, and presents market forecasts, SWOT & PESTEL analysis, market scenarios, and feasibility studies.
Green Steel Market is valued at approximately USD 0.0834 billion in 2021 and is anticipated to grow with an impressive growth rate of more than 131.8% over the forecast period 2022-2029. Green Steel refers to the production of steel using non-fossil-based energy sources. In Green Steel production low carbon sources such as hydrogen, and coal gasification among others are used in place of fossil fuels. In case of Hydrogen, if burned, hydrogen emits only water. Moreover, hydrogen is produced via electrolysis using water and renewable energy-based electricity, and it is free of CO2 emissions. The increasing demand for sustainable construction materials and growing investment in green production of steel are key factors accelerating the market growth.
The increasing adoption of sustainable construction materials due to rise in global carbon emissions is contributing towards the growth of the Global Green Steel Market. For instance, according to Statista – in 2019, the global market for sustainable construction materials was valued at USD 10.44 million tons and the market is projected to grow to USD 23.4 million tons by 2026. Moreover, the growing investment in green steel production is another factor driving the market space. For instance, in January 2022 India based Adani Group and South Korean Steel company Posco jointly announced an investment of USD 5 billion to set up a green, environment-friendly integrated steel plant at Mundra, Gujarat, India. Additionally, in September 2022, India based JSW Steel Group collaborated with Germany’s SMS group to invest USD 1.26 billion to reduce carbon emissions at its plants. Under this collaboration, SMS group would offer its technology experts, design, engineering consultancy and commissioning to execute various projects for decarbonization across the Plants of JSW Group. Also, increase in in government investment and collaboration between market players and growing carbon emissions from steel industries would create a lucrative growth prospectus for the market over the forecast period. However, high production cost associated with Green Steel and infrastructural constraints stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Green Steel Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to the increasing investment from leading market players and favorable initiatives from government authorities to promote low carbon emissions in steel production. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising demand for sustainable building & construction materials and increasing number of collaborations between leading market players in the region.
Major market players included in this report are:
H2 Green Steel
Tata Steel Ltd.
Tenaris S.A.
ThyssenKrupp AG
Emirates Steel Arkan
Green Steel Group
Deutsche Edelstahlwerke Services
Arcelor Mittal S.A.
Jindal Steel and Power
United States Steel Corp (USSC)
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Recent Developments in the Market:
In October 2022, H2 Green Steel received conditional commitment letters for USD 3.44 billion in senior debt with AB Svensk Exportkredit (SEK) and other European commercial banks including BNP Paribas, ING, UniCredit, Societe Generale and KfW IPEX-Bank.
In July 2022, Zurich, Switzerland based Hitachi Energy signed a Memorandum of Understanding (MoU) with Sweden based H2 Green Steel to leverage electrification, digitalization, and hydrogen to facilitate the decarbonization of the steel industry.
Global Green Steel Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Energy Source, Type, End-User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Energy Source
Hydrogen
Coal Gasification
Electricity
By Type
Electric Arc Furnace (EAF)
Molten Oxide Electrolysis (MOE)
By End-User
Construction
Automotive
Electronics
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Table of Contents:
- Executive Summary
- Introduction
- Methodology
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
- Conclusion
Compelling Reasons to Invest:
Market Segmentation and Value Insights:
- The report offers a comprehensive market segmentation, providing market value data for each segment and sub-segment examined. This deepens your understanding of market dynamics and opportunities within specific market segments.
Focus on Rapid Growth and Dominant Regions:
- This study pinpoints regions and market segments poised for swift growth and those holding a substantial market share. This strategic insight aids businesses in targeting high-growth areas for investment.
Geographical Market Analysis:
- Emphasizing product or service consumption across different geographic areas, the report identifies region-specific variables that influence the market. It offers valuable insights into regional market dynamics.
Competitive Landscape:
- The report includes market rankings of major players, highlighting recent partnerships, product/service launches, business expansions, and acquisitions by profiled companies. This data facilitates a comprehensive understanding of the competitive landscape and industry trends.
Comprehensive Company Profiles:
- Detailed profiles are provided for top market players, encompassing business overviews, company insights, product benchmarking, and SWOT analysis. This aids in gaining a holistic perspective on key market players.
Market Outlook and Growth Prospects:
- The report presents the current market outlook and future growth prospects, considering recent changes and developments. It identifies growth opportunities, drivers, obstacles, and restrictions in both developing and emerging regions.
Market Analysis Using Porter’s Five Forces and Value Chain:
- The market report offers a multifaceted market analysis, utilizing Porter’s five forces to assess industry competitiveness and providing insights into the market using the Value Chain approach.
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