The global power industry experienced a 15% decline in the number of energy storage-related patent applications in Q4 2023 compared with the previous quarter. The total number of energy storage-related grants rose by 2% 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 energy storage-related patent applications in the power industry was 954 in Q4 2023, versus 1,122 in the prior quarter.

The top five companies accounted for 35% of patenting activity

Analysis of patenting activity by companies shows that Contemporary Amperex Technology filed the most energy storage patents within the power industry in Q4 2023. The company filed 233 energy storage-related patents in the quarter, compared with 342 in the previous quarter. It was followed by Ningde Times New Energy Technology with 37 energy storage patent filings, State Grid Corporation of China (26 filings), and Samsung SDI (24 filings) in Q4 2023.

Patenting activity was driven by China with a 37% share of total patent filings

The largest share of energy storage related patent filings in the power industry in Q4 2023 was in China with 37%, followed by the US (18%) and Japan (13%). The share represented by China was 2% higher than the 35% share it accounted for in Q3 2023.

For further understanding of GlobalData's Power: Patents Trends Q4 2023, buy the databook here.

This content was updated on 23 January 2024

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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.