The global construction industry experienced an 8% decline in patent filings in Q1 2024 compared with the previous quarter. The total number of grants dropped by 3%, resulting in overall patent publications decreasing by 8.5%, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: Patents Trends Q1 2024 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 patent applications in the construction industry was 14,671 in Q1 2024, versus 16,027 in the prior quarter. Filings were down 1% year-on-year and increase 8% quarter-on-quarter. This compares to a 1% year-on-year increase in patent grants and 8% decline in quarter-on-quarter.
Most patenting activity has been in the Groundwork, Foundations, Piling sector, where the number of patents filed Q4 2023 was 2133, a drop of 2% versus the previous quarter. The second-largest patent count was in Formwork & Shuttering (1691, down 9%) and then Earthmoving Equipment in third (1075, down 18%).
The top five companies accounted for 14% 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 800, followed by China Communications Construction Group with 398 and China State Shipbuilding with 362.
Patenting activity was driven by China with a 54% share of total patent filings
The largest share of patent filings in the construction industry in Q1 2024 was in China with 54%, followed by the US (8%) and Japan (8%). The share represented by China was 0.75% higher than the 53% share it accounted for in Q4 2023.
For further understanding of GlobalData's Construction: Patents Trends Q1 2024, 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.
