Chinese battery giant ranked No. 1 in the global power battery market with a 29.9 percent market share in the first half of the year, according to data released Thursday by South Korean energy market analysis firm SNE Research.

The cumulative global power battery installation in the first half of the year was 114.1 GWh, up 153.7 percent year-over-year.

South Korean battery giants LG Energy Solution, Samsung SDI and SK Innovation ranked second, fifth and sixth, respectively, with a combined market share of 34.9 percent, essentially unchanged from 34.5 percent in the same period last year, SNE Research said.

Panasonic and ranked third and fourth with 15% and 6.9%, respectively.

CATL's installed capacity in China in the first half of the year was 25.76 GWh, with a 49.1 percent market share, according to the China Automotive Battery Innovation Alliance.

CATL continues to expand its production capacity, and earlier this month it signed an agreement with Yibin, a city in southwestern China's Sichuan province, to set up another headquarters for the company there.

CATL and Yibin have signed one to six phases of the battery maker's wholly-owned subsidiary's power battery production project in Sichuan.

With a total investment of more than RMB 30 billion ($4.64 billion) and a site area of approximately 3,000 mu (2 km2), the first phase of the project was commissioned on June 17.

By the end of 2020, CATL's power battery capacity will be 69.1 GWh, with 77.5 GWh currently under construction.

Since 2021, the company has announced several capacity expansion plans. According to Soochow Securities, CATL's seven lithium battery production bases have a total planned capacity of 600GW, with a new capacity planned to reach 535GW.