The low carbon development of the iron and steel industry is crucial to achieving the carbon peaking and carbon neutrality goals on schedule. Based on the introduction of the current status of carbon emission reduction in the iron and steel industry, the current development of direct reduction process is summarized, the development trend of gas-based direct reduction process is analyzed, it is pointed that the gas-based shaft furnace process is the direction of its vigorous development, and the suggestions to realize the large-scale process equipment and to promote the diversification of raw material sources are proposed in order to offer solutions for carbon emission reduction in industry.