The global construction industry experienced 0% decline in patent filings in Q4 2023 compared with the previous quarter. The total number of grants rose by 15%, resulting in overall patent publications decreasing by 0.3%, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: 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 patent applications in the construction industry was 16,196 in Q4 2023, versus 16,238 in the prior quarter. Filings were down 13% year-on-year and decrease 0% quarter-on-quarter. This compares to a 13% year-on-year decrease in patent grants and 0% decline in quarter-on-quarter.
Most patenting activity has been in the Groundwork, Foundations, Piling sector, where the number of patents filed Q3 2023 was 2331, a rise of 1% versus the previous quarter. The second-largest patent count was in Formwork & Shuttering (1994, up 21%) and then Earthmoving Equipment in third (1149, up 8%).
The top five companies accounted for 16% of patenting activity
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Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by State-owned Assets Supervision and Administration Commission of the State Council with 899, followed by China State Shipbuilding with 466 and Caterpillar with 461.
Patenting activity was driven by China with a 53% share of total patent filings
The largest share of patent filings in the construction industry in Q4 2023 was in China with 53%, followed by Japan (9%) and the US (8%). The share represented by China was 4% lower than the 57% share it accounted for in Q3 2023.
For further understanding of GlobalData's Construction: Patents Trends Q4 2023, buy the databook here.
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