The global oil & gas industry experienced a 5% decline in the number of energy storage-related patent applications in Q2 2024 compared with the previous quarter. The total number of energy storage-related grants dropped by 8% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Oil & Gas: Patents Trends Q2 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.
Notably, the number of energy storage-related patent applications in the oil & gas industry was 147 in Q2 2024, versus 154 in the prior quarter.
The top five companies accounted for 37% of patenting activity
Analysis of patenting activity by companies shows that LG Chem filed the most energy storage patents within the oil & gas industry in Q2 2024. The company filed 33 energy storage-related patents in the quarter, compared with 19 in the previous quarter. It was followed by Contemporary Amperex Technology with 7 energy storage patent filings, SGL Carbon (6 filings), and Toyota Motor (4 filings) in Q2 2024.
Patenting activity was driven by China with a 23% share of total patent filings
The largest share of energy storage related patent filings in the oil & gas industry in Q2 2024 was in China with 23%, followed by Hungary (14%) and Japan (9%). The share represented by China was 0.9% lower than the 24% share it accounted for in Q1 2024.
For further understanding of GlobalData's Oil & Gas: Patents Trends Q2 2024, buy the databook here.
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