The hydrogen vehicle market - Italy (2023)

1.1 Introduction

The hydrogen vehicle market represents a market segment of the automotive industry dedicated to hydrogen-powered passenger cars, vans and trucks. Hydrogen-powered cars operate in two main ways, depending on the technology adopted:[Newsauto]

• HICEV (Hydrogen Internal Combustion Engine Vehicle): This type of car uses hydrogen as fuel in a conventional internal combustion engine. The hydrogen is burned in the engine, generating energy to power the vehicle. This technology was the first to be adopted by car manufacturers to use hydrogen in vehicles.
• FCEV (Fuel Cell Electric Vehicle): FCEV cars, on the other hand, are electric vehicles powered by a hydrogen fuel cell. In these cars, hydrogen reacts with oxygen in a fuel cell to produce electricity, which is then used to power an electric motor. This type of vehicle offers a longer range than conventional electric vehicles, with ranges of up to 800-1000 km per single charge. An example of such a vehicle is the Toyota Mirai, which recently set a range record by traveling more than 1,000 km on a single hydrogen charge.

The history of hydrogen vehicles has much older origins than one might think. Although fuel cell cars have only become a hot topic in recent years, the idea of using hydrogen as a fuel for vehicles dates back several centuries. Francois Isaac de Rivaz, a Swiss inventor, designed the first prototype vehicle powered by hydrogen and oxygen in 1807. Later, in 1860, a three-wheeled vehicle powered by a two-stroke hydrogen engine was made. The first hydrogen-powered truck was produced in 1933 by the Norwegian electric company Norsk Hydro.

A particularly important juncture in the history of hydrogen vehicles occurred in the 1960s, with the introduction of General Motors' Electrovan, the first passenger fuel cell car. Finally, the first "real" fuel cell car put on sale was the Hyundai Tucson FCEV in 2013. Since then, the hydrogen vehicle market has continued to grow, with more and more manufacturers venturing into this area.[Insideeves]

The size of the global hydrogen fuel cell vehicle market was estimated at $0.92 billion in 2021, and is expected to reach $43.2 billion by 2031, growing at a CAGR of 45.5 percent from 2022 to 2031.[Alliedmarketresearch]