The global construction industry experienced a 62% decline in the number of environmental sustainability-related patent applications in Q3 2023 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 54% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: Patents Trends Q3 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 environmental sustainability-related patent applications in the construction industry was 1,028 in Q3 2023, versus 2,670 in the prior quarter.
The top five companies accounted for 21% of patenting activity
Analysis of patenting activity by companies shows that State-owned Assets Supervision and Administration Commission of the State Council filed the most environmental sustainability patents within the construction industry in Q3 2023. The company filed 82 environmental sustainability-related patents in the quarter, compared with 286 in the previous quarter. It was followed by Caterpillar with 40 environmental sustainability patent filings, China Communications Construction Group (39 filings), and China State Shipbuilding (28 filings) in Q3 2023.
Patenting activity was driven by China with a 41% share of total patent filings
The largest share of environmental sustainability related patent filings in the construction industry in Q3 2023 was in China with 41%, followed by the US (13%) and Japan (9%). The share represented by China was 22% lower than the 62% share it accounted for in Q2 2023.
For further understanding of GlobalData's Construction: Patents Trends Q3 2023, buy the databook here.