The shipping industry continues to be a hotbed of innovation, with activity driven by increasing global trade and commerce and the need for efficient, cost-effective, and environmentally sustainable sea transportation solutions, as well as growing importance of technologies such as the Internet of Things (IoT), artificial and augmented intelligence, advanced vessel operation monitoring systems, and hydrogen fuel cells. In the last three years alone, there have been over 67,000 patents filed and granted in the shipping industry, according to GlobalData’s report on Innovation in Ship: Pressure monitoring for fuel transferring vessels. Buy the report here.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
30+ innovations will shape the shipping industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the shipping industry using innovation intensity models built on over 25,000 patents, there are 30+ innovation areas that will shape the future of the industry.
Vessel propulsion systems, gas turbine-propelled vessels, and vessel internal combustion engine are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are underwater drilling support systems and anti-fouling ship hull coatings, which are now well established in the industry.
Innovation S-curve for the shipping industry
Pressure monitoring for fuel transferring vessel is a key innovation area in shipping
Although the fuel transferring vessels are equipped with specialised double-walled insulated tanks, pressure monitoring is essential to ensure the safe carriage and transfer of oil or liquified gas such as LNG. Pressure monitoring sensors are used to continuously monitor pressure spikes and adjust the temperature of the tanks.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 10+ companies, spanning technology vendors, established shipping companies, and up-and-coming start-ups engaged in the development and application of pressure monitoring for fuel transferring vessel
Key players in pressure monitoring for fuel transferring vessels – a disruptive innovation in the shipping industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to pressure monitoring for fuel transferring vessels
|Company||Total patents (2010 - 2022)||Premium intelligence on the world's largest companies|
|Korea Development Bank||73||Unlock Company Profile|
|Hyundai Heavy Industries Holdings||50||Unlock Company Profile|
|Samsung Heavy Industries||40||Unlock Company Profile|
|Kawasaki Heavy Industries||24||Unlock Company Profile|
|Shell||22||Unlock Company Profile|
|Engie||22||Unlock Company Profile|
|Mitsubishi Heavy Industries||18||Unlock Company Profile|
|Wartsila||10||Unlock Company Profile|
|Exxon Mobil||10||Unlock Company Profile|
|Kobe Steel||6||Unlock Company Profile|
|TechnipFMC||6||Unlock Company Profile|
Source: GlobalData Patent Analytics
Daewoo Shipbuilding & Marine Engineering (DSME) is the leading patent filer in pressure monitoring for fuel transferring vessels. The patents filed by the company in this space are mostly focused on LNG carriers and are related to tank structure, safety valves, systems and methods of preventing liquid cargo from evaporating, and monitoring and managing the pressure inside the LNG storage tanks.
To further understand the key themes and technologies disrupting the shipping industry, access GlobalData’s latest thematic research report on Shipping.