(Yicai) Aug. 4 -- China's Contemporary Amperex Technology retained its top ranking as the world's largest battery supplier since 2017 in the first half while BYD beat South Korea’s LG Energy to come in second, according to a South Korean research institute.

From January to June, the Ningde-based market leader boosted the number of installed batteries in clients' vehicles by 56 percent to 112 gigawatt hours from a year ago, resulting in a market share of 36.8 percent, according to a report released by SNE Research yesterday.

CATL is making progress in entering foreign markets as the Chinese firm nearly doubled growth in Europe and North America in the six-month period from a year ago.

BYD increased its corresponding gauge of usage by 102 percent to 47.7 GWh in the same time period and its market share rose to 15.7 percent from 11.6 percent. The Shenzhen-based firm outperformed LG Energy which had a 14.5 percent market share, equaling 44.1 GWh.

BYD is getting stronger based on vertical integration as it produces both batteries and vehicles while expanding its market share in Europe and Asia, the SNE added.

The global battery market is widening quickly as usage surged over 50 percent to 304.3 GWh in the first half. From 2017 to 2022, the compound annual growth rate was 55 percent, per the same source.

Six of the world's 10 biggest battery makers are Chinese. Besides CATL and BYD, the list includes CALB Group (No. 6), and from slot No. 8 down, there are Eve Energy, Gotion High-Tech, as well as Sunwoda Electronic.

Editor: Emmi Laine