The global construction industry experienced a 55% decline in the number of modular construction-related patent applications in Q3 2024 compared with the previous quarter. The total number of modular construction-related grants dropped by 47% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: 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 modular construction-related patent applications in the construction industry was 81 in Q3 2024, versus 180 in the prior quarter.
The top five companies accounted for 14% of patenting activity
Analysis of patenting activity by companies shows that TOYOTA Housing filed the most modular construction patents within the construction industry in Q3 2024. The company filed 3 modular construction-related patents in the quarter, compared with 2 in the previous quarter. It was followed by Sekisui House with 3 modular construction patent filings, Toto (2 filings), and Simpson Manufacturing (2 filings) in Q3 2024.
Patenting activity was driven by China with a 36% share of total patent filings
The largest share of modular construction related patent filings in the construction industry in Q3 2024 was in China with 36%, followed by the US (15%) and Japan (11%). The share represented by China was 29% lower than the 64% share it accounted for in Q2 2024.
For further understanding of GlobalData's Construction: 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.
