BHI demonstrated overwhelming competitiveness in the global combined cycle power plant heat recovery steam generator (HRSG) market last year. BHI announced on the 19th that it ranked first in the world in both the technology and manufacturing sectors in the 2024 HRSG market analysis published by McCoy Report, a global power generation research institute.
According to the McCoy Report, BHI supplied a total of 5,586MW of HRSGs last year, ranking first in market share in the technology sector. The technology ranking is a league table that evaluates the competitiveness of companies with original technologies, and BHI ranked first in recognition of its outstanding design and engineering technologies.
In the manufacturing sector, BHI also produced a total of 5,966MW of HRSGs last year, establishing itself as the company with the largest number of HRSG orders in the global market. Since the manufacturing ranking is calculated based on actual order performance, this means that BHI is the company with the most active sales force and supply capacity in the global market.
McCoy Report is the most authoritative market analysis organization in the power generation equipment industry, and conducts in-depth research and announcements on global power generation market trends and company-specific performance every year. Through this achievement, BHI has once again proven its world-leading HRSG manufacturing capabilities since 2014 and 2021, and has further solidified its position in the global market as a company with original technology.
BHI expects that this achievement will contribute to strengthening overseas order and contract competitiveness. In particular, the company explains that it is expected to have positive effects in various aspects, such as ▲expansion of overseas markets ▲strengthening technological competitiveness ▲expanding project attraction ▲improving corporate image through increasing global reliability and brand value.
A BHI official said, “Achieving first place in all global HRSG technology and manufacturing sectors last year is a very meaningful achievement,” adding, “Being first in the HRSG technology rankings demonstrates our design and technology competitiveness, and being first in the manufacturing rankings demonstrates our actual order competitiveness and business execution capabilities in the global market.”
He continued, “We will continue to lead the industry by conducting research and development in various energy power generation facilities, including not only HRSG but also nuclear power generation and green hydrogen,” adding, “We will use this achievement as a stepping stone to further strengthen the company’s technological prowess and product competitiveness in the rapidly growing global power generation market.”
Meanwhile, the previous day, BHI announced through a public notice that it had received a limited work start order (LNTP) for the supply of HRSG to the Facility E desalination power plant in Qatar worth 145.8 billion won. On the 12th, BHI also signed a contract to supply HRSG worth approximately 293 billion won in Saudi Arabia. With this, BHI has achieved a performance of over 430 billion won in the Middle East region alone in just one month.
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