The global power industry experienced a 66% decline in the number of environmental sustainability-related patent applications in Q4 2023 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 63% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Power: Patents Trends Q4 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
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Notably, the number of environmental sustainability-related patent applications in the power industry was 10,654 in Q4 2023, versus 31,703 in the prior quarter.
The top five companies accounted for 12% of patenting activity
Analysis of patenting activity by companies shows that Contemporary Amperex Technology filed the most environmental sustainability patents within the power industry in Q4 2023. The company filed 579 environmental sustainability-related patents in the quarter, compared with 1044 in the previous quarter. It was followed by Samsung SDI with 244 environmental sustainability patent filings, Siemens (171 filings), and Toyota Motor (141 filings) in Q4 2023.
Patenting activity was driven by China with a 37% share of total patent filings
The largest share of environmental sustainability related patent filings in the power industry in Q4 2023 was in China with 37%, followed by the US (18%) and Japan (9%). The share represented by China was 33% lower than the 69% share it accounted for in Q3 2023.
For further understanding of GlobalData's Power: Patents Trends Q4 2023, buy the databook here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
