The global steel industry is undergoing a pivotal shift towards sustainability as it seeks to address the significant environmental impact of its operations, accounting for 7-9% of global CO2 emissions. The industry, traditionally reliant on carbon-intensive processes like the blast furnace-basic oxygen furnace route, is now facing increasing pressure to decarbonize in response to tightening climate regulations and consumer preferences for greener materials. IDTechEx's report delves into how steelmakers are embracing innovative technologies, particularly hydrogen-based direct reduction methods like H2-DRI, to drive their transition to green steel production. This shift is crucial as the sector navigates policy frameworks like the EU Emissions Trading System and the rising demand for eco-friendly materials in sectors such as automotive and construction. The report explores a spectrum of decarbonization strategies adopted by industry players, including renewable energy integration, biomass and hydrogen utilization in blast furnaces, and the expansion of electric arc furnace capacity for scrap recycling. It also highlights novel approaches like electrochemical ironmaking and plasma-based reduction technologies that are gaining traction. Market dynamics outlined in the report underscore the growing commitment of major steelmakers towards technology development and the adoption of hydrogen-ready production sites, with a substantial capacity slated for the mid-2030s. Key to this evolution is the development of green steel production hubs, potentially in regions rich in iron reserves and renewable energy sources like Australia, Brazil, and Africa. However, achieving this vision hinges on the advancement of green hydrogen technologies, supported by favorable legislation and financial incentives. IDTechEx's comprehensive analysis further includes regional policy impacts, emerging business models, and forecasts that illuminate the trajectory of global steel production and green steel adoption over the next decade. By examining major production routes and technologies, the report offers stakeholders valuable insights into the transformative journey towards low-carbon and sustainable steel production.