The global mining industry experienced an 18% decline in patent filings in Q3 2022 compared with the previous quarter. The total number of grants dropped by 15%, resulting in overall patent publications rising by 18%, according to GlobalData’s Patent Analytics.
Notably, the number of patent applications in the mining industry was 3,003 in Q3 2022, versus 3,680 in the prior quarter.
Most patenting activity has been in the Drilling & Blasting sector, where the number of patents filed Q2 2022 was 141, a rise of 26% versus the previous quarter. The second-largest patent count was in Excavation & Loading (167, down 13%) and then Underground Equipment in third (695, down 5%).
The top five companies accounted for 26% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by JFE Holdings with 226, followed by China Baowu Steel Group with 190 and POSCO Holdings with 160.
Patenting activity was driven by China with a 55% share of total patent filings
The largest share of patent filings in the mining industry in Q3 2022 was in China with 55%, followed by Japan (10%) and the US (9%).
