The global oil & gas industry experienced a 35% decline in the number of future of work-related patent applications in Q3 2024 compared with the previous quarter. The total number of future of work-related grants dropped by 17% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Oil & Gas: Patents Trends Q3 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.
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Notably, the number of future of work-related patent applications in the oil & gas industry was 790 in Q3 2024, versus 1,208 in the prior quarter.
The top five companies accounted for 29% of patenting activity
Analysis of patenting activity by companies shows that Schlumberger filed the most future of work patents within the oil & gas industry in Q3 2024. The company filed 70 future of work-related patents in the quarter, compared with 68 in the previous quarter. It was followed by Halliburton with 57 future of work patent filings, Fuji Oil (42 filings), and BASF (33 filings) in Q3 2024.
Patenting activity was driven by China with a 26% share of total patent filings
The largest share of future of work related patent filings in the oil & gas industry in Q3 2024 was in China with 26%, followed by the US (25%) and Australia (3%). The share represented by China was 16% lower than the 42% share it accounted for in Q2 2024.
For further understanding of GlobalData's Oil & Gas: Patents Trends Q3 2024, buy the databook here.
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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.
