The global power industry experienced a 51% decline in the number of hydrogen-related patent applications in Q4 2023 compared with the previous quarter. The total number of hydrogen-related grants dropped by 35% 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.
Notably, the number of hydrogen-related patent applications in the power industry was 344 in Q4 2023, versus 701 in the prior quarter.
The top five companies accounted for 14% of patenting activity
Analysis of patenting activity by companies shows that Siemens filed the most hydrogen patents within the power industry in Q4 2023. The company filed 21 hydrogen-related patents in the quarter, compared with 10 in the previous quarter. It was followed by Ceres Power with 7 hydrogen patent filings, Bloom Energy (7 filings), and Panasonic (7 filings) in Q4 2023.
Patenting activity was driven by China with a 26% share of total patent filings
The largest share of hydrogen related patent filings in the power industry in Q4 2023 was in China with 26%, followed by the US (19%) and Japan (10%). The share represented by China was 18% lower than the 44% 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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