beat Panasonic to third place with 11.9 percent market share in January-February, while the latter ranked fourth with 10.8 percent share.

(Image credit: BYD)

remained the world's largest power battery supplier in the first two months of the year, while BYD beat Panasonic to rise to third place, according to a recent report.

In January-February, global power battery shipments stood at 53.5 GWh, up more than 100 percent from the previous year, Business Korea said Friday, citing data released by market research firm SNE Research on March 31.

CATL (SHE: 300750) still holds the top spot, shipping 18.4 GWh in January-February, with a 34.4 percent market share, according to the data.

LG Energy Solution shipped 7.4 GWh, up 37.6 percent from a year ago. Although it came in second, its market share fell from 20.7 percent to 13.8 percent, according to the data.

BYD (OTCMKTS: BYDDY, HKG: 1211) beat Panasonic to third place with an 11.9 percent market share, which ranked fourth with 10.8 percent.

SK On battery shipments increased from 1.4 GWh to 3.5 GWh, and its market share increased from 5.4 percent to 6.5 percent, ranking fifth.

In China, CATL's power battery installed base in February was 6.57 GWh, capturing 48.02 percent market share, according to data released by the China Automotive Battery Innovation Alliance (CABIA) early last month. Data for March is currently unavailable.

BYD's power battery installed base in China in February was 2.9 GWh, with a market share of 21.24 percent, up from 20.93 percent in January.