The global mining industry experienced a 4% rise in patent filings in Q3 2023 compared with the previous quarter. The total number of grants rose by 5%, resulting in overall patent publications increasing by 4.2%, according to GlobalData’s Patent Analytics. GlobalData’s databook Mining: Patents Trends Q3 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.
Notably, the number of patent applications in the mining industry was 3,325 in Q3 2023, versus 3,192 in the prior quarter. Filings were down 17% year-on-year and decrease 4% quarter-on-quarter. This compares to a 17% year-on-year decrease in patent grants and 4% rise in quarter-on-quarter.
Most patenting activity has been in the Underground Equipment sector, where the number of patents filed Q2 2023 was 758, a rise of 33% versus the previous quarter. The second-largest patent count was in Excavation & Loading (161, up 1%) and then Drilling & Blasting in third (115, down 20%).
The top five companies accounted for 31% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by JFE with 406, followed by China Baowu Steel Group with 205 and Ansteel Group with 156.
Patenting activity was driven by China with a 52% share of total patent filings
The largest share of patent filings in the mining industry in Q3 2023 was in China with 52%, followed by Japan (9%) and the US (7%). The share represented by China was 7% higher than the 45% share it accounted for in Q2 2023.
For further understanding of GlobalData's Mining: Patents Trends Q3 2023, buy the databook here.