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.
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
ÀÖ²¥´«Ã½ 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 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,
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