The global mining industry experienced an 8% rise in patent filings in Q4 2023 compared with the previous quarter. The total number of grants rose by 2%, resulting in overall patent publications increasing by 8.3%, according to GlobalData’s Patent Analytics. GlobalData’s databook Mining: Patents Trends Q4 2023 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 patent applications in the mining industry was 4,029 in Q4 2023, versus 3,721 in the prior quarter. Filings were down 1% year-on-year and decrease 8% quarter-on-quarter. This compares to a 1% year-on-year decrease in patent grants and 8% rise in quarter-on-quarter.
Most patenting activity has been in the Underground Equipment sector, where the number of patents filed Q3 2023 was 905, a rise of 7% versus the previous quarter. The second-largest patent count was in Excavation & Loading (191, up 4%) and then Mining in third (134, up 23%).
The top five companies accounted for 32% of patenting activity
See Also:
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by JFE with 473, followed by China Baowu Steel Group with 322 and Ansteel Group with 192.
Patenting activity was driven by China with a 49% share of total patent filings
The largest share of patent filings in the mining industry in Q4 2023 was in China with 49%, followed by Japan (11%) and the US (6%). The share represented by China was 5% lower than the 54% share it accounted for in Q3 2023.
For further understanding of GlobalData's Mining: Patents Trends Q4 2023, 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.
