The global power industry experienced a 41% decline in the number of hydrogen-related patent applications in Q1 2024 compared with the previous quarter. The total number of hydrogen-related grants dropped by 5% in Q1 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Power: Patents Trends Q1 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Smarter leaders trust GlobalData
Notably, the number of hydrogen-related patent applications in the power industry was 328 in Q1 2024, versus 556 in the prior quarter.
The top five companies accounted for 16% of patenting activity
Analysis of patenting activity by companies shows that Mitsubishi Heavy Industries filed the most hydrogen patents within the power industry in Q1 2024. The company filed 15 hydrogen-related patents in the quarter, compared with 7 in the previous quarter. It was followed by Korea Institute of Industrial Technology (KITECH) with 15 hydrogen patent filings, Hydrogenious LOHC Technologies (8 filings), and State Grid Corporation of China (7 filings) in Q1 2024.
See Also:
Patenting activity was driven by China with a 27% share of total patent filings
The largest share of hydrogen related patent filings in the power industry in Q1 2024 was in China with 27%, followed by the US (20%) and Japan (10%). The share represented by China was 28% lower than the 55% share it accounted for in Q4 2023.
For further understanding of GlobalData's Power: Patents Trends Q1 2024, buy the databook here.
Premium Insights
From
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.
