Pune, India, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The United States green steel market size was valued at USD 747.22 million in 2022 and is slated to expand at a CAGR of 49.8% over the forecast period. The market expansion can be attributed to the growing investments in green building projects in the country. According to the Department of Energy, green buildings generally emit 34% less carbon dioxide and use 25% less energy than conventional buildings.
Fortune Business Insights™ provides this information in its research report titled "United States Green Steel Market Size, Share, Growth, Trends and Report Forcast, 2023-2030".
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List of Key Players Mentioned in the United States Green Steel Market Report:
- Ansteel Group (China)
- ArcelorMittal (Luxembourg)
- Boston Metal (U.S.)
- China Baowu Group (China)
- Cleveland-Cliffs (U.S.)
- H2 Green Steel (U.S.)
- Nippon Steel Corporation (Japan)
- Nucor Corporation (U.S.)
- Steel Dynamics, Inc. (U.S.)
- United States Steel Corporation (U.S.)
Competitive Landscape
Major Market Players Ink Partnership Strategies to Expand their Industry Footing
Notable market players are focusing on deploying different competitive strategies to enhance their positions. Some of these strategies include partnerships, collaborations, mergers and acquisition strategies, and joint ventures to extend their geographical footprint. Many players are also putting significant efforts into R&D activities to introduce innovative products.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 49.8% |
| Market Size in 2022 | USD 747.22 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 125 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Global United States Green Steel Market Growth Drivers | Carbon Benefits Related to the Product to Augment Market Growth |
| Growing Partnerships between Automotive and Product Manufacturers to Impel Segment Growth |
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https://www.fortunebusinessinsights.com/u-s-green-steel-market-108259
Segmentation:
Renewable-Electric Arc Furnaces to Gain Traction Owing to their Ease of Deployment
On the basis of production technology, the market is divided into hydrogen Direct Reduced Iron (DRI) - EAF, Molten Oxide Electrolysis (MOE), and Renewable–Electric Arc Furnace (R-EAF). The renewable electric-arc furnace segment accounted for the major U.S. green steel market share in 2022, owing to its ease of deployment in most existing electric arc furnaces.
Growing Partnerships between Automotive and Product Manufacturers to Impel Segment Growth
With respect to application, the market is classified into automotive, home appliances, renewable energy infrastructure, building & construction, and others. The automotive segment held a major market share in 2022. Surging partnership deals between product and automotive manufacturers are anticipated to contribute to segment growth.
Report Coverage:
The United States green steel market report offers comprehensive coverage of the driving and restraining factors impacting the market. It also highlights the key competitive strategies devised by market players to expand their industry holdings. It further provides segment-wise industry analysis and vital insights into the latest trends that are anticipated to impel market growth in the long run.
Drivers and Restraints:
Carbon Benefits Related to the Product to Augment Market Growth
The United States green steel market growth is driven by the carbon benefits associated with the product. The product has gained immense traction as an ideal material in the building & construction sector, owing to its capability to reduce huge volumes of carbon dioxide emissions.
Key Industry Development:
- January 2021 - H2 Green Steel (GS) inked a deal with ZF Group to cut its carbon footprint by 2.3 million tons by investing more than USD 1.7 billion.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on United States Green Steel Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- United States Green Steel Market Analysis, Insights and Forecast, 2022-2030
- Key Findings / Summary
- By Production Technology (Value & Volume)
- Renewable – Electric Arc Furnace (EAF)
- Hydrogen Direct Reduced Iron (DRI) – EAF
- Molten Oxide Electrolysis
- By Application (Value & Volume)
- Building & Construction
- Automotive
- Renewable Energy Infrastructure
- Home Appliances
- Others
TOC Continued…!
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