In the dynamic landscape of the power industry, electric vehicles have emerged as a focal point of innovation and strategic investments. Recent patent developments reveal cutting-edge technologies, while strategic deals underscore the industry’s commitment to advancing electric mobility. These trends not only impact the industry’s trajectory but also influence the hiring landscape and highlight the global leaders driving electric vehicle adoption. GlobalData’s electric vehicles market report provides a comprehensive market sizing analysis up to 2030, segmentation by propulsion type and end-user type, and a comparative analysis of the market share of electric vehicles against internal combustion vehicles in different countries. Buy the report here.
This article presents a quarterly round-up of the latest trends in the power industry regarding electric vehicles. It provides an overview of recent developments in electric vehicles-related deals, talent acquisition, and patent filings within the power industry.
Diverse applications of electric vehicles in power industry
Power companies in the Electric Vehicles (EVs) sector are harnessing cutting-edge technologies to revolutionize their operations. Notably, Positec Power Tools (Suzhou) Co., Ltd. holds a patent for a self-moving apparatus equipped with ultrasonic detection capabilities, facilitating obstacle avoidance and precise control, thereby paving the way for more advanced and autonomous EVs. Meanwhile, Paficic Inc. has patented an integrated energy power and EV charging system that efficiently manages power distribution across various loads, simplifying the charging process and bolstering EV energy management. Hyundai Mobis Co Ltd's patent focuses on a microscopic alignment technique for wireless EV charging, guaranteeing precise alignment between the charging pad and the EV for optimal efficiency and convenience. Beta Air llC offers a safety-oriented patent for an EV disabling system during charging, featuring an interlock component to ensure security during the charging process. Lastly, Paired Power Inc introduces solar canopy systems for EVs, which employ adjustable solar panels mounted on lifting mechanisms, enabling EVs to harness solar energy for charging and decreasing dependence on conventional power sources.
Overall, these patents highlight the ongoing efforts of power companies to enhance EV technologies and applications. By leveraging these innovations, power companies can improve the efficiency, safety, and sustainability of EVs, ultimately benefiting both the companies and the consumers.
The industry experienced a 36% decline in the number of electric vehicles-related patent applications in Q2 2023 compared with the previous quarter. On an annual basis, the number of electric vehicles-related patent applications in the power industry witnessed a drop of 38% compared with Q2 2022.
Strategic deal trends in electric vehicles in power industry
Power companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in electric vehicles. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of electric vehicles in the power industry.
In Q2 2023, the number of electric vehicles-related deals in the power industry declined by 34% compared with Q2 2022. On a quarterly basis, there was 3% drop in the number of deals in Q2 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2023, the power industry experienced a 30% drop compared with the previous quarter. On an annual basis, job postings also grew by 40%. Notably, Management Occupations, with a share of 16%, emerged as the top electric vehicles-related job roles within the power industry in Q2 2023, with new job postings drop by 32% quarter-on-quarter. Computer and Mathematical Occupations came in second with a share of 14% in Q2 2023, with new job postings rising by 19% over the previous quarter. The other prominent electric vehicles roles include Architecture and Engineering Occupations with a 12% share in Q2 2023, and Business and Financial Operations Occupations with a 6% share of new job postings.
Iberdrola, Siemens, Electricite de France, Centrica, and Elektro Eletricidade E Servicos are among the top companies leading in electric vehicles hiring within the power industry.
Countries driving adoption of electric vehicles in power industry
The US is the leading country in electric vehicles adoption within the power industry, boasting the highest number of electric vehicles-related patents, jobs, and deals. Meanwhile, China, the UK, Germany and Canada also maintain significant positions in electric vehicles adoption within the power industry.
In summary, the power industry saw a significant decline in electric vehicle-related patent applications both quarterly and annually. Strategic deals in this sector also decreased, reflecting the challenges. Job postings showed a quarterly drop but steady annual growth with management occupations leading electric vehicle-related job roles.
To further understand GlobalData's analysis on electric vehicles in the power industry, buy the report here.