The global oil & gas industry experienced a 52% decline in the number of renewable energy-related patent applications in Q4 2023 compared with the previous quarter. The total number of renewable energy-related grants dropped by 27% 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.

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Notably, the number of renewable energy-related patent applications in the oil & gas industry was 1,983 in Q4 2023, versus 4,165 in the prior quarter.

The top five companies accounted for 7% of patenting activity

Analysis of patenting activity by companies shows that Air Liquide filed the most renewable energy patents within the oil & gas industry in Q4 2023. The company filed 33 renewable energy-related patents in the quarter, compared with 35 in the previous quarter. It was followed by LG with 31 renewable energy patent filings, Toyota Motor (28 filings), and Siemens (22 filings) in Q4 2023.

Patenting activity was driven by China with a 25% share of total patent filings

The largest share of renewable energy related patent filings in the oil & gas industry in Q4 2023 was in China with 25%, followed by the US (19%) and Japan (11%). The share represented by China was 28% lower than the 52% share it accounted for in Q3 2023.

For further understanding of GlobalData's Oil & Gas: Patents Trends Q4 2023, buy the databook here.

This content was updated on 23 January 2024

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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.