The global power industry experienced a 59% decline in the number of environmental sustainability-related patent applications in Q3 2023 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 47% in Q3 2023, according to GlobalDataâ€™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.
Notably, the number of environmental sustainability-related patent applications in the power industry was 14,540 in Q3 2023, versus 35,343 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 environmental sustainability patents within the power industry in Q3 2023. The company filed 647 environmental sustainability-related patents in the quarter, compared with 886 in the previous quarter. It was followed by Samsung SDI with 335 environmental sustainability patent filings, Toyota Motor (207 filings), and Ningde Times New Energy Technology (194 filings) in Q3 2023.
Patenting activity was driven by China with a 47% share of total patent filings
The largest share of environmental sustainability related patent filings in the power industry in Q3 2023 was in China with 47%, followed by the US (14%) and South Korea (7%). The share represented by China was 24% lower than the 71% share it accounted for in Q2 2023.
For further understanding of GlobalData's Power: Patents Trends Q3 2023, buy the databook here.