Based on its recent analysis of the Green heating, ventilation, air conditioning and refrigeration (HVAC&R) market, Frost & Sullivan presents Lennox International Inc. (LII) with the 2009 North American Frost & Sullivan Award for Industry Innovation & Leadership of the Year. This is in recognition of its initiatives in leading the industry with its pioneering technology, optimized product line, sound business strategy, and research and development (R&D) initiatives.
LII's value proposition is based on three main priorities: innovation, energy efficiency and sustainable design. Its product portfolio, from heating and air-conditioning to refrigeration, is designed with a goal to deliver energy savings in excess of 20 percent – both at the unit level as well as the integrated system level. In addition, these products are designed with relatively less use of materials when compared to that of their industry counterparts.
Consistently exceeding industry benchmarks, LII stands apart for its value proposition in the industry. Nearly all product categories showcased by LII provide energy use reductions well beyond the stipulated minimum requirements of organizations like the United States Environmental Protection Agency (USEPA). Instead of viewing legislation as a compliance issue, the company uses it as a catalyst for ultra-high efficiency product upgrades, achieving a high product vitality ratio of over 70 percent (compared to the industry average of 30-40 percent).
"By carefully dissecting market, consumer, regulatory and environmental trends, LII strategically positions its product offering to enable its value chain to take advantage of changing industry dynamics," says Frost & Sullivan Industry Analyst Konkana Khaund. "Integrating renewable energy-based solutions into its product line, the company demonstrates total cost of ownership performance of its products to customers and consumers more effectively."
LII's commitment to environmental sustainability and designing a sustainable line of products is further enhanced by its internal greening initiatives. The company's products are recognized both within the industry and outside by leading associations and organizations. Perhaps the most significant among all recognitions is being the only HVAC company ever named Energy Star Manufacturing Partner of the Year by the USEPA and the U.S. Department of Energy (DOE), and earning that distinction four times.
LII ensures its representatives document energy savings, environmental impact, and total cost of ownership to customers so that they clearly understand payback and value from its products. Its goal is that all its field application consultants, commercial consultants and national account managers are certified as Council's Leadership in Energy & Environmental Design (LEED) Accredited Professionals – a venture that is almost 80 percent accomplished.
The strength of LII's product line strategy also lies in the fact that it takes a global view on energy savings and the proliferation of its energy efficient products and alternatives, encompassing North America, Europe, Australia, and Asia as a whole. LII recognizes and participates with regional governmental agencies, industry trade groups, and non-government offices to formalize energy practices that assist in the development of regionally attuned regulatory standards.
"This collaborative role assumed by LII differentiates it from most participants in the industry that view global market expansion from the perspective of profit enhancements alone," notes Khaund. "LII realizes in order to successfully demonstrate value from its product initiatives, it is important to share best practices and lead in shaping global regulatory requirements that are tailored to local needs and priorities."
LII's products and technology are thus user-friendly and intuitive for both installers and end users. Its product lines, across vertical markets, lay emphasis on energy efficiency, noise reduction, accuracy in comfort delivered, and most importantly assuring shorter payback with access to rebates and incentives by federal government and utilities.
"Despite these turbulent economic times, LII is one of the few companies committed to investment in R&D and product strategy in 2009, reflecting its foresight in understanding and acting upon unmet market needs, with focus on energy conservation issues," adds Khaund. "The company's steady pipeline of innovation and ideas to take its product strategy to the next level of commercialization provide cost benefits to customers and demonstrates actions, mechanisms and the right focus to sustain it."
For these achievements, Frost & Sullivan is pleased to recognize Lennox International as the worthy recipient of the 2009 Frost & Sullivan Industry Innovation & Leadership of the Year Award in the North American Green HVAC&R Market. Each year, Frost & Sullivan presents this award to the company that has demonstrated the most insight into the needs and product demands of the industry, leading in terms of pioneering technology, optimized product line, sound business strategy, and research initiatives. The award recognizes excellence beyond technical advancements, encompassing a comprehensive view of the market, resulting in an ongoing improvement in the industry over time.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Lennox International Inc.
Lennox International Inc. is a global player in the HVAC&R markets. Headquartered in Richardson, Texas, LII's history spans over 100 years with a long line of innovative and successful products to its credit. With manufacturing and sales presence globally, the company's product portfolio is designed to propagate a more sustainable and healthier environment through a shared sense of responsibility that it promotes both internally as well as across its value chain. With a focus on a diversified portfolio in HVAC&R, an established service business to complement it, and strong customer penetration, Lennox International has witnessed consistent growth in its high-end innovative products over the last three years.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.