The global construction industry experienced a 25% decline in patent filings in Q1 2023 compared with the previous quarter. The total number of grants dropped by 21%, resulting in overall patent publications decreasing by 25.8%, according to GlobalData’s Patent Analytics. GlobalData’s Construction Market Size Analysis report provides a top-level overview and detailed market, category and company-specific insights on the global construction market. Buy the report here.
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Notably, the number of patent applications in the construction industry was 11,571 in Q1 2023, versus 15,603 in the prior quarter. Filings were down 29% year-on-year and decrease 25% quarter-on-quarter. This compares to a 29% year-on-year decrease in patent grants and 25% decline in quarter-on-quarter.
Most patenting activity has been in the Groundwork, Foundations, Piling sector, where the number of patents filed Q4 2022 was 1470, a drop of 23% versus the previous quarter. The second-largest patent count was in Formwork & Shuttering (1180, down 20%) and then Earthmoving Equipment in third (864, down 28%).
The top five companies accounted for 13% of patenting activity
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 545, followed by China State Shipbuilding with 301 and Caterpillar with 297.
Patenting activity was driven by China with a 51% share of total patent filings
The largest share of patent filings in the construction industry in Q1 2023 was in China with 51%, followed by Japan (13%) and South Korea (6%). The share represented by China was 7% lower than the 58% share it accounted for in Q4 2022.
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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.
