Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Europe Sustainable Steel Market - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
Amid growing environmental concerns and the push for carbon neutrality within the European Union (excluding the U.K.), the sustainable steel market is poised for significant growth, according to a new research publication. The market is expected to surge from $86.0 billion in 2022 to $165.9 billion by 2031, expanding at a steady CAGR of 7.57% during the forecast period.
Market Growth Driven by Environmental Regulations and Recycled Steel Demand
The accelerating market expansion is a result of stringent regulations by European governments and the imperative need for energy-efficient and cost-effective sustainable steel. The utilization of recycled steel as a response to scarcity in raw materials and energy adds further impetus to the sector's growth. Though the presence of impurities in recycled steel and the high costs associated with green hydrogen for green steel production present substantial challenges, the market maintains a positive outlook.
Comprehensive Analysis of Sustainable Steel Segmentation
Market Segmentation Insight
- By End-Use Application: Including key sectors such as transportation, building and construction, furniture and appliances, packaging, among others.
- By Technology: Diving into the different technological approaches like Electric Arc Furnace (EAF) and Blast Furnace-Basic Oxygen Furnace (BF-BOF).
- By Region: Focusing on Germany, France, Italy, Spain, and the Rest-of-Europe to provide a granular view of the market dynamics across the continent.
This report offers a detailed analysis that assists decision-makers in crafting product and innovation strategies that align with current market demands and future prospects.
Competitive Strategies and Market Players
The study delineates a competitive benchmarking of key players in the sector, highlighting how these organizations stack against each other in the European sustainable steel market. These insights into partnerships, agreements, and collaborations present companies with knowledge of potential revenue opportunities. Key market players such as ArcelorMittal, LIBERTY Steel Group, Lech Stahlwerke GmbH, Celsa Group, and H2 Green Steel have been profiled in the report.
The Europe sustainable steel market report provides a comprehensive view of the industry trends, market forces, and strategic developments, empowering stakeholders to navigate the market landscape with confidence. The study addresses the pressing need for sustainable solutions and offers a detailed understanding of market segments, technological applications, and future market dynamics in the sustainable steel industry.
Note to Editors: This report presents an in-depth analysis tailored to help businesses, investors, policymakers, and industry enthusiasts understand the current state and future projections of the sustainable steel market in Europe. To access this latest research publication, please visit our website.
Key Topics Covered
- Market Insights and Trends
- Overview of Sustainable Steel Market
- Current and Future Trends:
- Investments in Green Technologies
- Business Model Changes due to Climate Action
- Impact of COVID-19 and Russia-Ukraine War
- Ecosystem and Ongoing Programs
- Supply Chain Analysis
- Business Dynamics
- Drivers: Stringent Regulations, Energy Efficiency, Increased Demand
- Challenges: Impurities, Infrastructure Costs, Limited Bandwidth
- Strategies: Market and Product Developments, Partnerships
- Opportunities: Growing Demand, Technological Advancements
- Regional Analysis: Europe
- Market Overview by Country
- Key Manufacturers and Suppliers
- Challenges and Drivers
- Application and Product Segmentation
- Competitive Benchmarking and Key Players
- Competitive Position Matrix
- Market Share Analysis
- Company Profiles:
- ArcelorMittal
- LIBERTY Steel Group
- Lech Stahlwerke GmbH
- Celsa Group
- H2 Green Steel
- Research Methodology
- Factors for Data Analysis
Key Attributes
| Report Attribute | Details |
| No. of Pages | 102 |
| Forecast Period | 2022 - 2031 |
| Estimated Market Value (USD) in 2022 | $86 Billion |
| Forecasted Market Value (USD) by 2031 | $165.9 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Europe |
Companies Mentioned
- ArcelorMittal
- LIBERTY Steel Group
- Lech Stahlwerke GmbH
- Celsa Group
- H2 Green Steel
For more information about this report visit https://www.researchandmarkets.com/r/p06e2b
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