The global power industry experienced a 50% decline in the number of environmental sustainability-related patent applications in Q3 2024 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 31% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Power: Patents Trends Q3 2024 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 9,830 in Q3 2024, versus 19,785 in the prior quarter.
The top five companies accounted for 15% 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 Q3 2024. The company filed 664 environmental sustainability-related patents in the quarter, compared with 792 in the previous quarter. It was followed by Samsung SDI with 325 environmental sustainability patent filings, Toyota Motor (223 filings), and Ningde Times New Energy Technology (164 filings) in Q3 2024.
Patenting activity was driven by China with a 30% share of total patent filings
The largest share of environmental sustainability related patent filings in the power industry in Q3 2024 was in China with 30%, followed by the US (18%) and Japan (8%). The share represented by China was 26% lower than the 56% share it accounted for in Q2 2024.
For further understanding of GlobalData's Power: Patents Trends Q3 2024, 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.
