The global construction industry experienced an 18% decline in patent filings in Q3 2024 compared with the previous quarter. The total number of grants dropped by 22%, resulting in overall patent publications decreasing by 18.5%, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: Patents Trends Q3 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 13,796 in Q3 2024, versus 16,923 in the prior quarter. Filings were down 20% year-on-year and decrease 18% quarter-on-quarter. This compares to a 20% year-on-year decrease in patent grants and 18% decline in quarter-on-quarter.
Most patenting activity has been in the Groundwork, Foundations, Piling sector, where the number of patents filed Q2 2024 was 2109, a drop of 17% versus the previous quarter. The second-largest patent count was in Formwork & Shuttering (1870, up 15%) and then Grouts and Mortars in third (910, down 32%).
The top five companies accounted for 14% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by Metallurgical Corporation of China with 492, followed by China Communications Construction Group with 439 and Caterpillar with 369.
Patenting activity was driven by China with a 43% share of total patent filings
The largest share of patent filings in the construction industry in Q3 2024 was in China with 43%, followed by the US (9%) and Japan (8%). The share represented by China was 15% lower than the 58% share it accounted for in Q2 2024.
For further understanding of GlobalData's Construction: Patents Trends Q3 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.
