The Global Hydrogen Fuel Cell Vehicle Market size is estimated to grow at a CAGR of around 45.26% during, i.e., 2024-30.
Hydrogen boilers refer to the heating system method that primarily uses hydrogen gas as the main fuel source to produce heat and provide hot water across residential as well as commercial sectors. According to a recent report published by MarkNtel Advisors, the Europe & APAC Hydrogen Boilers Market size is predicted to grow at a CAGR of around 32% during the forecast period, i.e., 2025-30.
The major factor leading to the growth of the Europe & APAC Hydrogen Boilers Market is the increasing government policies and initiatives regarding the expansion and development of hydrogen infrastructure in Europe and Asia-Pacific regions. The governments of these regions are majorly emphasizing the progress of the hydrogen economy and infrastructure so that their reliance on fossil fuels can be curtailed and they can attain emission reduction goals.
Moreover, a firm and well-built hydrogen infrastructure is highly significant for the extensive implementation and utilization of heating systems based on hydrogen such as hydrogen boilers. The development of hydrogen infrastructure guarantees a reliable and consistent supply of hydrogen fuel across residential, commercial, and industrial applications. All these factors are propelling the growth of the Europe & APAC Hydrogen Boilers Market and the trend is likely to continue in the coming years.
Glancing at the Segmentation Analysis of the Europe & APAC Hydrogen Boilers Market
Europe & APAC Hydrogen Boilers Market is likely to be driven by the escalating Government Initiatives in Hydrogen Infrastructure Development
The governments of European and Asia-Pacific (APAC) countries are progressively emphasizing the development of hydrogen infrastructure in numerous countries to fulfill their emission goals. The European Commission, alongside many national governments, is offering considerable financial aid for hydrogen projects. This includes grants, subsidies, and incentives for companies and research institutions working on hydrogen technologies. Additionally, countries in the Asia-Pacific region, such as Japan and South Korea, have disclosed aspiring hydrogen economy plans.
Trend of Rising Adoption of Steam-as-a-Service (SaaS) is Likely to Proliferate the Growth of the Europe & APAC Hydrogen Boilers Market
Steam-as-a-Service (SaaS) is a developing concept that provides steam generation and distribution as an economical, outsourced, and ecological solution for numerous industrial practices and applications. Countless industrial methods and services depend on steam for functions like heating, sterilization, and other applications. The conventional methods of steam generation are majorly dependent and based on fossil fuels and are not compatible with the safety of the environment. On the other hand, Hydrogen boilers generate steam through the combustion of hydrogen and emit only water vapor as a byproduct which results in curbing greenhouse gas emissions.
Leading Companies in the Europe & APAC Hydrogen Boilers Market
Companies such as Worcester Bosch, Baxi, Ideal Heating, Viessmann, Bosch Industriekessel GmmbH, Jerico Energy Ventures, Valient Group, Giacomini, Miura Co, Ltd., KyungDong Navien, and others are among the major companies leading in the Europe & APAC Hydrogen Boilers Market. These companies are incessantly applying innovative market strategies to further push their market position and boost the overall growth of the Europe & APAC Hydrogen Boilers Market.
About MarkNtel Advisors
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.
We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfilled their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.
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