The global oil & gas industry experienced a 21% decline in the number of energy storage-related patent applications in Q2 2023 compared with the previous quarter. The total number of energy storage-related grants rose by 25% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Energy Storage System (ESS) Market Size, Share, Trends, Analysis, and Segment Forecast to 2026 report provides an outlook of the global ESS market, along with granular data on historical figures and forecasts of revenue opportunities from the technology, end-use, and regional segments. Buy the report here.
Notably, the number of energy storage-related patent applications in the oil & gas industry was 142 in Q2 2023, versus 180 in the prior quarter.
The top five companies accounted for 25% of patenting activity
Analysis of patenting activity by companies shows that Hyundai Motor filed the most energy storage patents within the oil & gas industry in Q2 2023. The company filed 10 energy storage-related patents in the quarter, compared with 8 in the previous quarter. It was followed by Kia with 9 energy storage patent filings, LG (7 filings), and Solvay (6 filings) in Q2 2023.
Patenting activity was driven by China with a 27% share of total patent filings
The largest share of energy storage related patent filings in the oil & gas industry in Q2 2023 was in China with 27%, followed by the US (22%) and Japan (14%). The share represented by China was 12% higher than the 14% share it accounted for in Q1 2023.
For further understanding of GlobalData's Energy Storage System (ESS) Market Size, Share, Trends, Analysis, and Segment Forecast to 2026 buy the report 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.
