The oil & gas industry continues to be a hotbed of patent innovation. Activity is driven by the need to reduce greenhouse gas emissions and lower costs and the growing importance of technologies such as artificial intelligence, digitalization, and the Internet of Things (IoT). In the last three years alone, there have been over 523,000 patents filed and granted in the oil & gas industry, according to GlobalData’s report on Innovation in oil & gas: cryogenic fuel storage. Buy the report here.

Smarter leaders trust GlobalData


Premium Insights Innovation in oil & gas: cryogenic fuel storage

Buy the Report

Premium Insights

The gold standard of business intelligence.

Find out more

However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilizing and reaching maturity.

Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.

60+ innovations will shape the oil & gas industry

According to GlobalData’s Technology Foresights, which plots the S-curve for the oil & gas industry using innovation intensity models built on over 196,000 patents, there are 60+ innovation areas that will shape the future of the industry.

Within the emerging innovation stage, high-pressure gas vessels, boil-off gas treatment, and oil recovery CWI are disruptive technologies that are in the early stages of application and should be tracked closely. Green hydrogen synthesis, hydrocarbon lubricants, and oil well surveillance are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are cryogenic gas separation and olefin metathesis catalysts, which are now well established in the industry.

Innovation S-curve for the oil & gas industry

Cryogenic fuel storage is a key innovation area in oil & gas

Cryogenic fuel storage involves the storage of fuels such as hydrogen and natural gas in their liquid state, achieved by cooling them to very low temperatures, typically below -150°C. These fuels can then be vaporized and used as a fuel source for engines, power generators, and other applications.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 30+ companies, spanning technology vendors, established oil & gas companies, and up-and-coming start-ups engaged in the development and application of cryogenic fuel storage.

Key players in cryogenic fuel storage – a disruptive innovation in the oil & gas industry

‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.  

‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’. 

Patent volumes related to cryogenic fuel storage

Company Total patents (2010 - 2022) Premium intelligence on the world's largest companies
Mcalister Technologies 55 Unlock Company Profile
Bayerische Motoren Werke 42 Unlock Company Profile
Hyundai Motor 34 Unlock Company Profile
HD Hyundai 31 Unlock Company Profile
General Motors 31 Unlock Company Profile
WESTPORT POWER 28 Unlock Company Profile
Porsche Automobil 21 Unlock Company Profile
Kawasaki Heavy Industries 19 Unlock Company Profile
Magna International 18 Unlock Company Profile
Korea Development Bank 18 Unlock Company Profile
Liebherr-International 18 Unlock Company Profile
Hexagon Composites 18 Unlock Company Profile
Kia 15 Unlock Company Profile
AB Volvo 13 Unlock Company Profile
Samsung Heavy Industries 12 Unlock Company Profile
Air Liquide 11 Unlock Company Profile
Asemblon 10 Unlock Company Profile
Westport Fuel Systems 10 Unlock Company Profile
Honda Motor 9 Unlock Company Profile
Korea Shipbuilding & Offshore Engineering 8 Unlock Company Profile
General Electric 8 Unlock Company Profile
Boeing 7 Unlock Company Profile
AVL List 6 Unlock Company Profile
Hitachi 6 Unlock Company Profile
HTP 5 Unlock Company Profile
VOSS Fluid 4 Unlock Company Profile
Horiba 4 Unlock Company Profile
Intellectual Ventures Management 4 Unlock Company Profile
Deutsches Zentrum fur Luft- und Raumfahrt 4 Unlock Company Profile
Caterpillar 4 Unlock Company Profile
Air Products and Chemicals 4 Unlock Company Profile
Stellantis 3 Unlock Company Profile
Safran 3 Unlock Company Profile
Marine Service 2 Unlock Company Profile
Mercedes-Benz Group 2 Unlock Company Profile
Kawasaki Jukogyo Kabushiki Kaisha 2 Unlock Company Profile
OMB Saleri 2 Unlock Company Profile
Iljin HySolus 2 Unlock Company Profile

Source: GlobalData Patent Analytics

Mobility companies such as Bayerische Motoren Werke and Hyundai Motor are at the forefront of filing patents in cryogenic fuel storage. In the oil and gas industry, liquified natural gas (LNG) is being increasingly seen as the environment-friendly fuel for transportation of gas through LNG carriers and trucks. Ships powered by LNG are seen as a promising way to decarbonize the shipping industry.

In terms of application diversity, Hexagon Composites leads the pack, while Mercedes-Benz Group and Marine Service stood in the second and third positions, respectively. By means of geographic reach, Kawasaki Heavy Industries held the top position, followed by Mcalister Technologies and Hexagon Composites.

Cryogenic fuel storage is increasingly finding applications for transportation in the oil and gas industry. Many shipping companies are increasingly looking at cryogenic fuel for clean energy and sustainability. LNG produced from small-scale liquefaction plants is also being used to power heavy trucks with practically zero emissions.

To further understand the key themes and technologies disrupting the oil & gas industry, access GlobalData’s latest thematic research report on Oil & Gas.

Premium Insights


The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.


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.