The global automotive industry experienced a 32% decline in the number of electric vehicles-related patent applications in Q3 2024 compared with the previous quarter. The total number of electric vehicles-related grants dropped by 3% in Q3 2024, 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.
Notably, the number of electric vehicles-related patent applications in the automotive industry was 5,981 in Q3 2024, versus 8,770 in the prior quarter.
The top five companies accounted for 17% of patenting activity
Analysis of patenting activity by companies shows that Toyota Motor filed the most electric vehicles patents within the automotive industry in Q3 2024. The company filed 478 electric vehicles-related patents in the quarter, compared with 521 in the previous quarter. It was followed by BYD with 144 electric vehicles patent filings, Ford Motor (130 filings), and General Motors (129 filings) in Q3 2024.
Patenting activity was driven by China with a 30% share of total patent filings
The largest share of electric vehicles related patent filings in the automotive industry in Q3 2024 was in China with 30%, followed by the US (21%) and Japan (6%). The share represented by China was 12% lower than the 42% share it accounted for in Q2 2024.
For further understanding of GlobalData's Automotive: Patents Trends Q3 2024, buy the databook here.
Data 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.