The global automotive industry experienced a 24% decline in patent filings in Q3 2024 compared with the previous quarter. The total number of grants dropped by 11%, resulting in overall patent publications decreasing by 24.3%, according to GlobalData’s Patent Analytics. GlobalData’s databook Automotive: 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 patent applications in the automotive industry was 99,303 in Q3 2024, versus 131,195 in the prior quarter. Filings were down 22% year-on-year and decrease 24% quarter-on-quarter. This compares to a 22% year-on-year decrease in patent grants and 24% decline in quarter-on-quarter.
The top five companies accounted for 11% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by Toyota Motor with 3,821, followed by BYD with 2,299 and Robert Bosch Stiftung with 2,078.
Patenting activity was driven by China with a 33% share of total patent filings
The largest share of patent filings in the automotive industry in Q3 2024 was in China with 33%, followed by the US (18%) and Japan (8%). The share represented by China was 10% lower than the 43% share it accounted for in Q2 2024.
For further understanding of GlobalData's Automotive: 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.
