Hydrogen Supply Chain: 85% of Companies Set to Accelerate Investments by 2026
19 February 2026
The Italian hydrogen supply chain continues to expand. The sector is no longer defined solely by experimentation but is moving toward progressive industrial consolidation.
According to the 2025 Hydrogen Observatory in Italy, developed by Intesa Sanpaolo’s Research Department in collaboration with Intesa Sanpaolo Innovation Center and H2IT, the Italian hydrogen ecosystem shows tangible signs of growth and increasing maturity.
“The Italian hydrogen supply chain is more structured compared to 2023: two-thirds of manufacturing companies are already generating revenues from the sector. Despite high costs and ongoing uncertainty, companies continue to invest and expect further increases in financial commitments by 2026, with a strong focus on technological innovation and the development of more industrially mature solutions”
Gregorio De Felice, Chief Economist at Intesa Sanpaolo
Key figures: investments and revenues
The main findings emerged from a survey conducted among 79 companies operating along the value chain:
- Growing role of hydrogen in business activities: 58% of companies already generate revenues from hydrogen-related activities, rising to 66% among manufacturing firms.
- International outlook: 46% of hydrogen-related revenues come from foreign customers, confirming strong positioning in international markets.
- Rising investments: 85% of companies in the supply chain expect to increase investments in the sector by 2026.
- Revenue growth expectations: More than 90% of companies anticipate higher revenues by 2026.
- Robust project pipeline: Over 70% of companies have projects at an advanced stage, and 25% of these already have initiatives under construction.
Innovation and skills: the driving force of the ecosystem
Technology represents the core engine of this ecosystem. Most companies have already integrated advanced solutions and are heavily investing in human capital:
- Research and Development: 70% of companies have an internal R&D department, with widespread adoption of Industry 4.0 technologies.
- Patents: Nearly one-third of companies have filed or are about to file patents.
- Training: 65% of organizations invest in hydrogen-focused training programs.
Towards 2030: key challenges ahead
While the supply side is solid and technologically advanced, the main challenge for the coming years will be stimulating market demand and defining an even clearer regulatory framework. Most entrepreneurs are confident about achieving the targets set by the National Energy and Climate Plan (PNIEC) for 2030, provided that adequate policy measures are implemented.
Last updated 20 February 2026 at 15:52:20
