MILAN (ITALPRESS) – 58% of hydrogen supply companies already generate revenues from industry-related activities, a percentage reaching 66% in manufacturing. For more than half of the enterprises, hydrogen investments exceed 10% of the total, with even higher values between manufacturing companies and SMEs. The companies of the supply chain also show a technologically advanced profile: almost a third party has deposited or is going to deposit patents and the adoption of digital technologies is widespread.
This is what emerges from the Observatory 2025 on hydrogen in Italy presented today in Milan and realized by the Research Department of Intesa Sanpaolo, in collaboration with H2IT – Italian Hydrogen Association, within the Memorandum of Understanding between H2IT and Intesa Sanpaolo Innovation Center. The survey involved 79 active enterprises along the hydrogen supply chain, identified through a mapping based on multiple information sources.
The supply chain is well integrated in foreign markets: the turnover from hydrogen generated with international customers represents 46% of the total, and rises to 60% among manufacturing companies. Compared to the previous version of the Observatory, the weight of hydrogen-related initiatives in business business models also increases and the expectations of growth in revenues are increased to 2026.
For 32% of manufacturing companies, revenues can grow between 10 and 50% to 2026. More cautious services companies: only 15% are expected to grow equal, while more than half expect a marginal increase. The prospects are also favourable on the investment front: 85% of enterprises expect an increase to 2026 and more than a quarter expect a significant growth (up to 25%).
The project pipeline appears increasingly solid: about 70% of companies have advanced projects and about 25% have already under construction initiatives, in line with the Pnrr deadlines. However, critical issues and obstacles remain to the development of the supply chain: in particular, they weigh on the prospects of the sector still weak demand and a perceived regulatory framework as not fully clear. ♪
Enterprises indicate the strengthening of demand support instruments and a more structured national strategy. For Alberto Dossi, president of H2IT, “we are finally in the phase of creation of demand, but we need to be careful because the challenges for the construction of a hydrogen market are still many; we live a decisive regulatory stage for the future of hydrogen in Italy”.
For Gregorio De Felice, Chief Economist of Intesa Sanpaolo, “the observatory highlights the presence in Italy of a more structured hydrogen supply chain than the 2023 edition: two-thirds of manufacturing companies already generate revenues from the sector and confirm a good projection on international markets; a significant part of hydrogen-related revenues comes from foreign customers. In a context characterized by high costs and uncertainty, enterprises continue to invest and expect a further increase in financial uses in 2026, with a strong orientation to technological innovation and the development of solutions at greater industrial maturity. Business opportunities and energy transition emerge as the main driver of business investment, confirming that the transition can also represent an important industrial opportunity for the Italian production system. However, the evolution of the sector remains strongly oriented towards the creation of the supply: the development of demand will be the key factor for the birth of a real hydrogen market.”.
-Photos press office Intesa Sanpaolo-
(ITALPRESS).
