The oil & gas industry continues to be a hotbed of patent innovation. Activity is driven by the need to reduce emissions and lower costs, and the growing importance of technologies such as artificial intelligence, big data, and machine learning. In the last three years alone, there have been over 327,000 patents filed and granted in the oil & gas industry, according to GlobalData’s report on Innovation in oil & gas: CO2 electroreduction. Buy the report here.
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However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilizing and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
65+ innovations will shape the oil & gas industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the oil & gas industry using innovation intensity models built on over 201,000 patents, there are 65+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, gas pipeline network monitoring, high-pressure gas vessels, and boil-off gas treatment are disruptive technologies that are in the early stages of application and should be tracked closely. Hydrocarbon lubricants, CO2 electroreduction and oil well surveillance are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are syngas production and gas scrubbing, which are now well established in the industry.
Innovation S-curve for the oil & gas industry
CO2 electroreduction is a key innovation area in oil & gas
CO2 electroreduction uses electrochemical methods to convert carbon dioxide into valuable chemicals and fuels such as synthetic diamond, methanol, propanol, and propionate, which can replace fossil fuels. Carbon dioxide reduction may occur through several electrochemical pathways, which depends on the electrode material, electrolyte, and conditions.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 175+ companies, spanning technology vendors, established oil & gas companies, and up-and-coming start-ups engaged in the development and application of CO2 electroreduction.
Key players in CO2 electroreduction – a disruptive innovation in the oil & gas industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to CO2 electroreduction
| Company | Total patents (2021 - 2023) | Premium intelligence on the world's largest companies |
| Toshiba | 439 | Unlock Company Profile |
| LiquidLight | 107 | Unlock Company Profile |
| Siemens | 100 | Unlock Company Profile |
| De Nora Permelec | 75 | Unlock Company Profile |
| Avantium | 66 | Unlock Company Profile |
| Mcalister Technologies | 52 | Unlock Company Profile |
| The French Alternative Energies and Atomic Energy Commission | 52 | Unlock Company Profile |
| Electricite de France | 50 | Unlock Company Profile |
| Calera | 43 | Unlock Company Profile |
| Medtronic | 37 | Unlock Company Profile |
| Aquahydrex | 36 | Unlock Company Profile |
| Toyota Motor | 33 | Unlock Company Profile |
| ENEOS | 33 | Unlock Company Profile |
| CEA | 28 | Unlock Company Profile |
| NEC | 27 | Unlock Company Profile |
| Osaka Gas | 25 | Unlock Company Profile |
| Ares Management | 25 | Unlock Company Profile |
| Denso | 21 | Unlock Company Profile |
| Ceramatec | 19 | Unlock Company Profile |
| Japan Aerospace Exploration Agency | 18 | Unlock Company Profile |
| IFP Energies nouvelles | 16 | Unlock Company Profile |
| Centre National de la Recherche Scientifique | 15 | Unlock Company Profile |
| Ecotricity Group | 15 | Unlock Company Profile |
| AquaHydrex | 15 | Unlock Company Profile |
| BHP | 14 | Unlock Company Profile |
| NewCO2Fuels | 14 | Unlock Company Profile |
| Furukawa | 13 | Unlock Company Profile |
| Halliburton | 13 | Unlock Company Profile |
| Centre National Research Scientific | 12 | Unlock Company Profile |
| Silicon Fire | 12 | Unlock Company Profile |
| Repsol | 12 | Unlock Company Profile |
| Nippon Telegraph and Telephone | 12 | Unlock Company Profile |
| Techwin | 9 | Unlock Company Profile |
| Linde | 9 | Unlock Company Profile |
| Dioxide Materials | 9 | Unlock Company Profile |
| Samsung Group | 9 | Unlock Company Profile |
| Ecole Polytechnique Federale de Lausanne | 9 | Unlock Company Profile |
| Saudi Arabian Oil | 9 | Unlock Company Profile |
| Haldor Topsoe | 9 | Unlock Company Profile |
| Skyre | 9 | Unlock Company Profile |
| HyperSolar | 8 | Unlock Company Profile |
| ThalesNano Nanotechnology | 7 | Unlock Company Profile |
| BEGO Technologies | 7 | Unlock Company Profile |
| Nederlandse Organisatie voor Toegepast-Natuurwetenschappelijk Onderzoek | 7 | Unlock Company Profile |
| Covestro | 6 | Unlock Company Profile |
| Max Planck Society | 5 | Unlock Company Profile |
| TotalEnergies | 5 | Unlock Company Profile |
| eChemicles Zrt | 5 | Unlock Company Profile |
| Honda Motor | 5 | Unlock Company Profile |
| Commissariat a l'Energie et aux Energies Alternatives | 5 | Unlock Company Profile |
Source: GlobalData Patent Analytics
Toshiba is one of the leading patent filers in CO2 electroreduction industry. The company has developed a recycling electrocatalyst electrode stack technology that can convert up to one ton of CO2 to carbon monoxide (CO) in one year at room temperature. The produced carbon monoxide can be used for the production of chemicals and fuel. Some other key patent filers in the CO2 electroreduction industry are LiquidLight and Siemens.
In terms of application diversity, McAlister Technologies leads the pack, while Toshiba and Electricite de France stood in the second and third positions, respectively. By means of geographic reach, Aquahydrex held the top position, followed by NEC and LiquidLight.
CO2 electroreduction is a potential approach to achieve decarbonatization through CO2 conversion into valuable chemicals and fuels. Many companies are coming forward to adopt this technology to meet the increasing demand for carbon-neutral chemicals and fuels.
To further understand the key themes and technologies disrupting the oil & gas industry, access GlobalData’s latest thematic research report on Oil & Gas.
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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.
