The global oil & gas industry experienced a 28% decline in the number of electric vehicles-related patent applications in Q1 2023 compared with the previous quarter. The total number of electric vehicles-related grants dropped by 28% in Q1 2023, according to GlobalData’s Patent Analytics. GlobalData’s Electric Vehicles (EV) in Insurance – Thematic Research report explains the dynamics of EV in the oil & gas market, highlighting the key trends, impact of EV on value chain and leading EV companies in the oil & gas market. Buy the report here.
Notably, the number of electric vehicles-related patent applications in the oil & gas industry was 71 in Q1 2023, versus 99 in the prior quarter.
The top five companies accounted for 34% of patenting activity
Analysis of patenting activity by companies shows that Hyundai Motor filed the most electric vehicles patents within the oil & gas industry in Q1 2023. The company filed 7 electric vehicles-related patents in the quarter, compared with 11 in the previous quarter. It was followed by Toyota Motor with 6 electric vehicles patent filings, AB Volvo (4 filings), and Kia (4 filings) in Q1 2023.
Patenting activity was driven by China with a 24% share of total patent filings
The largest share of electric vehicles related patent filings in the oil & gas industry in Q1 2023 was in China with 24%, followed by South Korea (20%) and Japan (13%). The share represented by China was 0.71% higher than the 23% share it accounted for in Q4 2022.
For further understanding of GlobalData's Electric Vehicles (EV) in Oil and Gas - Thematic Research buy the report 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.
