Europe and APAC Hydrogen Boilers Market Research Report: Forecast (2024-2030)
The Europe & APAC Hydrogen Boilers Market size is expected to grow at a CAGR of around 32% during the forecast period, i.e., 2025-30. The market growth is attributed to the rising government initiatives in the development of hydrogen infrastructure in the regions. The governments in Europe and the Asia-Pacific region are increasingly focusing on the development of a hydrogen economy and infrastructure to reduce their dependency on fossil fuels and to achieve emission reduction targets. For Instance,
- In 2022, the European government confirmed the establishment of business models for hydrogen transport and storage infrastructure by 2025.
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Market Dynamics
Europe & APAC Hydrogen Boilers Market Driver: Rising Government Initiatives in Hydrogen Infrastructure Development
The governments of European and Asia-Pacific (APAC) countries are increasingly focusing on the establishment of hydrogen infrastructure in various countries to meet their emission targets. The European Commission, along with various national governments, is providing substantial financial support for hydrogen projects. This includes grants, subsidies, and incentives for companies and research institutions working on hydrogen technologies. Similarly, countries in the Asia-Pacific region, including Japan and South Korea, have unveiled ambitious hydrogen economy plans. For Instance,
In 2023, Japan laid its Hydrogen Strategy to increase the supply of hydrogen in the country at minimal costs by 2030.
The infrastructure development includes the establishment of hydrogen production facilities, such as electrolyzers and reformers, as well as distribution networks for transporting hydrogen to end-users. This will ensure a consistent and adequate supply of hydrogen, a key prerequisite for hydrogen boiler operation, which is expected to augment market growth in the forecast period.
Leading Companies in Europe and APAC Hydrogen Boilers Market:
Worcester Bosch, Baxi, Ideal Heating, Viessmann, Bosch Industriekessel GmbH, Jerico Energy Ventures, Valient Group, Giacomini, Miura Co, Ltd., KyungDong Navien, Others.
Segmentation of the Industry
The Europe and APAC Hydrogen Boilers Market is highly fragmented and bifurcates into the following segmentations:
By Technology
-Hydrogen Blend
-Hydrogen Ready
- The hydrogen blend segment is expected to hold a major market share in the Europe & APAC Hydrogen Boilers Market in the forecast period
By Application
-Residential
-Commercial
-Industrial
- The residential segment holds a major market share of the Europe & APAC Hydrogen Boilers Market owing to the smaller scale of deployment.
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Regional Landscape
On the geographical front, the Europe and APAC Hydrogen Boilers Market expands across the following:
By Region
-Europe
-Asia-Pacific
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