The global construction industry experienced an 8% decline in patent filings in Q2 2024 compared with the previous quarter. The total number of grants rose by 30%, resulting in overall patent publications decreasing by 8.0%, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: Patents Trends Q2 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.
Notably, the number of patent applications in the construction industry was 14,816 in Q2 2024, versus 16,105 in the prior quarter. Filings were down 11% year-on-year and decrease 8% quarter-on-quarter. This compares to an 11% year-on-year decrease 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 Q1 2024 was 2228, a drop of 5% versus the previous quarter. The second-largest patent count was in Formwork & Shuttering (1764, up 6%) and then Earthmoving Equipment in third (1253, up 3%).
The top five companies accounted for 12% 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 516, followed by China Communications Construction Group with 396 and Caterpillar with 307.
Patenting activity was driven by China with a 57% share of total patent filings
The largest share of patent filings in the construction industry in Q2 2024 was in China with 57%, followed by Japan (9%) and the US (9%). The share represented by China was 2% higher than the 55% share it accounted for in Q1 2024.
For further understanding of GlobalData's Construction: Patents Trends Q2 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.
