The global power industry experienced a 10% decline in the number of environmental sustainability-related patent applications in Q1 2023 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 15% in Q1 2023, according to GlobalData’s Patent Analytics. Environmental sustainability is a priority in many industries today including power sector. GlobalData’s ESG (Environmental, Social, and Governance) Top Trends by Sector – Thematic Research report assesses the impact of ESG by identifying key trends, company filings, and hiring pattern across 16 key sectors. Buy the report here.
Notably, the number of environmental sustainability-related patent applications in the power industry was 14,592 in Q1 2023, versus 16,301 in the prior quarter.
The top five companies accounted for 10% of patenting activity
Analysis of patenting activity by companies shows that State Grid Corporation of China filed the most environmental sustainability patents within the power industry in Q1 2023. The company filed 428 environmental sustainability-related patents in the quarter, compared with 536 in the previous quarter. It was followed by Contemporary Amperex Technology with 400 environmental sustainability patent filings, Siemens (229 filings), and China Southern Power Grid (225 filings) in Q1 2023.
Patenting activity was driven by China with a 51% share of total patent filings
The largest share of environmental sustainability related patent filings in the power industry in Q1 2023 was in China with 51%, followed by South Korea (9%) and Japan (9%). The share represented by China was 7% lower than the 58% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on ESG (Environmental, Social, and Governance) Top Trends by Sector - Thematic Research buy the report here.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
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.
