thyssenkrupp bets big on green steel and hydrogen to outpace rivals

thyssenkrupp AG is shifting its focus from traditional steel production to advanced technology sectors. The company aims to become a leader in green steel, hydrogen solutions, and maritime systems as part of a major transformation.

This move comes as competitors like ArcelorMittal and Salzgitter already make progress in low-carbon dioxide steel production, leaving thyssenkrupp racing to catch up in a fast-evolving market.

For years, thyssenkrupp has relied on its vertically integrated structure, combining steelmaking with engineering expertise. Now, the company is redirecting its efforts toward green steel, hydrogen, and high-tech naval systems.

One key subsidiary, thyssenkrupp nucera, specialises in large-scale electrolyzers for industrial hydrogen production. This technology supports the company's push into hydrogen-based steelmaking, a method designed to drastically cut carbon dioxide emissions. Meanwhile, thyssenkrupp Marine Systems remains a global leader in building complex submarines and naval vessels, reinforcing the group's high-tech ambitions.

Despite these plans, thyssenkrupp's progress in low-carbon dioxide steel has been slow. Since 2020, its market share in Europe for such products has stayed below 1%. The company's flagship H2 green steel project in Duisburg remains in pilot and construction phases as of early 2026, while rivals like ArcelorMittal and SSAB have already started commercial production using electric arc furnaces and hydrogen-based techniques.

Investors are now watching closely to see if thyssenkrupp can secure profitable niches in these new markets. The challenge lies in funding expensive technology upgrades while competing against more advanced players in the green steel sector.

thyssenkrupp's transformation hinges on accelerating its hydrogen and green steel projects. The company must also prove it can turn these investments into sustainable profits.

With competitors already ahead in low-carbon dioxide steel, the success of its Duisburg plant and other innovations will determine whether thyssenkrupp can establish itself as a technology leader in the years ahead.