The global construction industry experienced a 15% decline in the number of modular construction-related patent applications in Q2 2024 compared with the previous quarter. The total number of modular construction-related grants rose by 48% in Q2 2024, 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.
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Notably, the number of modular construction-related patent applications in the construction industry was 112 in Q2 2024, versus 131 in the prior quarter.
The top five companies accounted for 12% of patenting activity
Analysis of patenting activity by companies shows that Berkshire Hathaway filed the most modular construction patents within the construction industry in Q2 2024. The company filed 4 modular construction-related patents in the quarter. It was followed by Toto with 3 modular construction patent filings, GS Engineering & Construction (2 filings), and China Railway Construction (2 filings) in Q2 2024.
Patenting activity was driven by China with a 52% share of total patent filings
The largest share of modular construction related patent filings in the construction industry in Q2 2024 was in China with 52%, followed by Japan (12%) and the US (12%). The share represented by China was 10% lower than the 62% 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.
