The steel industry is accelerating its shift towards carbon neutrality by embracing hydrogen-based and electric ironmaking technologies, aiming to produce sustainable 'green steel'. Major industry players are actively investing in these innovations to diversify their technological portfolios beyond conventional methods and address the emission-intensive nature of blast furnaces. Hydrogen-based DRI processes are at the forefront of this transition, with Europe leading in planned green steel projects. However, the widespread adoption of low-carbon hydrogen remains a challenge due to cost considerations. Alternative technologies like fluidized bed DRI and hydrogen smelting plasma reduction offer promising solutions but need to overcome hurdles in commercial scale-up. Electric ironmaking technologies are also gaining traction, with startups like Boston Metal and Electra pioneering approaches that eliminate the need for hydrogen as a reducing agent. These innovations have received significant investments and are viewed as potentially disruptive for the industry. Various hybrid approaches and novel technologies are also being explored to address core challenges in the steel sector. While the market is expected to see a range of emerging technologies, the focus remains on solutions that can effectively tackle emissions and drive the industry towards a greener future.