The global steel industry is at a crucial juncture, facing pressure to reduce its substantial carbon footprint of 7-9% of global CO2 emissions. The IDTechEx report delves into the industry's response to climate regulations, focusing on decarbonization strategies until 2035. Traditional blast furnace-basic oxygen furnace (BF-BOF) methods are being challenged by innovative approaches utilizing hydrogen and clean electricity to achieve green steel production. The industry is exploring multiple pathways, including natural gas-based direct reduced iron (NG-DRI) and hydrogen-based direct reduction technologies like H2-DRI, with a shift towards green hydrogen power. Various technologies such as shaft furnace, fluidized bed, and plasma reduction are being adopted by major steelmakers. Startups and established players are investing in electrochemical ironmaking methods, signaling a promising future for sustainable iron production. The report discusses market drivers such as policy frameworks and increasing demand for greener materials in sectors like automotive and construction. Major steelmakers are investing in technology development and hydrogen-ready production sites, aiming for significant hydrogen-ready capacity globally by the mid-2030s. The convergence of abundant iron reserves and renewable energy sources is creating new production hubs in regions like Australia and Africa. However, the transition to green steel will require supportive legislation and financial incentives. Detailed market analysis covers regional policy impacts, business models, and techno-economic comparisons of steel production routes. IDTechEx's forecasts project global steel production and green steel adoption by production routes and regions, providing a comprehensive outlook for stakeholders interested in the industry's transformation.