According to Markntel Advisors Report, Middle East and Africa Green Steel Market is expected to grow at a significant growth rate, and the analysis period is 2025-2030, considering the base year as 2024.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Green steel is a type of steel that is produced using renewable energy sources and recycled materials. It can be produced using a range of technologies, including electric arc furnaces powered by renewable energy sources, such as solar or wind power, and processes that capture and utilize carbon emissions to produce cleaner steel. Green steel aims to reduce the environmental impact of steel production, which is traditionally known for being a major contributor to global carbon emissions and create a more sustainable and environmentally friendly steel industry that contributes to the transition to a low-carbon economy.
Global Middle East and Africa Green Steel Market Research Report & Summary:
The Middle East and Africa Green Steel Market is projected to grow at a CAGR of around 38% during the forecast period, i.e., 2025-30 owing to the growing inclination towards sustainable and environment friendly products in the region.
Time Period Captured in the Report:
· Historical Years: 2020-2023
· Base Years: 2024
· Forecast Years: 2025-2030
Who are the Key Players Operating in the Middle East and Africa Green Steel Market?
The top companies of the Middle East and Africa Green Steel Market ruling the industry are:
Emirates Steel Arkan, Jindal Shaheed Iron & Steel LLC, Arcelor Mittal South Africa, Essar Group, Arab Steel Co., ThyssenKrupp AG, Qatar Steel, Voestalpine AG, Outokumpu Oyj Middle East FZCO, EZZ Steel, Others
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What is Included in Middle East and Africa Green Steel Market Segmentation?
The Middle East and Africa Green Steel Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
By Production Technology (Electric Arc Furnace, Basic Oxygen Furnace, Molten Oxide Electrolysis),
By Energy Source (Solar, Wind, Other Renewable Energy Sources),
By End User (Buildings & Construction, Automotive & Transportation, Others),
By Region (The UAE, Saudi Arabia, Oman, Egypt, South Africa, Morocco, Rest of The Middle East & Africa)
Explore the Complete Middle East and Africa Green Steel Market Analysis Report – https://www.marknteladvisors.com/research-library/mea-green-steel-market.html
Middle East and Africa Green Steel Market Driver:
Surging Proclivity Towards the Use of Green Steel in the Automotive Industry to Propel the Market Growth - The automotive sector is one of the major users of steel, hence providing an enormous opportunity for implementing green steel as an alternative to conventional steel in the production process to reduce their carbon footprint. According to World Steel Association, an average vehicle uses approximately 2000 pounds of steel, making the automobile sector a significant consumer of steel.
Automotive companies aim to clean every step of the entire production process of vehicles. Various automotive companies, like General Motors (GM), Honda, and Volvo, among various others, have shown keen interest in integrating green steel during the production of vehicles in the coming years. Therefore, green steel is expected to play a vital role in this transition which would strongly contribute to the growth of the Green Steel market in the forthcoming period. Along with this, several firms like Volvo, BMW, and Mercedes-Benz committed to reducing CO2 emissions per vehicle by 50% by 2030 compared to 2019, which is, projected to open an opportunity for providers of green steel. Therefore, the automotive industry holds immense opportunities for green steel & would become a lucrative area of investment for automakers in the coming years.
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