The global power industry experienced a 59% decline in the number of energy transition-related patent applications in Q3 2023 compared with the previous quarter. The total number of energy transition-related grants dropped by 46% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Power: Patents Trends Q3 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 transition-related patent applications in the power industry was 16,754 in Q3 2023, versus 41,003 in the prior quarter.
The top five companies accounted for 11% of patenting activity
Analysis of patenting activity by companies shows that Contemporary Amperex Technology filed the most energy transition patents within the power industry in Q3 2023. The company filed 723 energy transition-related patents in the quarter, compared with 918 in the previous quarter. It was followed by Samsung SDI with 371 energy transition patent filings, State Grid Corporation of China (343 filings), and China Southern Power Grid (243 filings) in Q3 2023.
Patenting activity was driven by China with a 62% share of total patent filings
The largest share of energy transition related patent filings in the power industry in Q3 2023 was in China with 62%, followed by the US (14%) and South Korea (7%). The share represented by China was 14% lower than the 76% share it accounted for in Q2 2023.
For further understanding of GlobalData's Power: Patents Trends Q3 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.
