The global oil & gas industry experienced a 42% decline in the number of electric vehicles-related patent applications in Q4 2023 compared with the previous quarter. The total number of electric vehicles-related grants dropped by 25% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Oil & Gas: Patents Trends Q4 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 electric vehicles-related patent applications in the oil & gas industry was 101 in Q4 2023, versus 174 in the prior quarter.
The top five companies accounted for 31% of patenting activity
Analysis of patenting activity by companies shows that Honda Motor filed the most electric vehicles patents within the oil & gas industry in Q4 2023. The company filed 9 electric vehicles-related patents in the quarter, compared with 1 in the previous quarter. It was followed by S K C with 7 electric vehicles patent filings, Chemours (5 filings), and Kia (5 filings) in Q4 2023.
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Patenting activity was driven by the US with a 30% share of total patent filings
The largest share of electric vehicles related patent filings in the oil & gas industry in Q4 2023 was in the US with 30%, followed by Japan (16%) and China (9%). The share represented by the US was 6% higher than the 24% share it accounted for in Q3 2023.
For further understanding of GlobalData's Oil & Gas: Patents Trends Q4 2023, buy the databook here.
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